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by amosson
4946 days ago
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Since they are debt, they accrue interest and the note is due and payable in full at some point down the road (say 18 months). If the company successfully bootstraps, they need to be in a position to pay back the note + the accrued interest by the end of the 18 month period. If the company can't pay back the note, they need to negotiate with the investors to either extend it or to convert it at some mutually agreed upon valuation |
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