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    INVESTOR PRESENTATIONS Forward this report to
    a colleague or friend
    Sponsored by:

    Preparing For Venture Capital
    Presented by: Tony Ricciardella, Grant Thornton

    July 8, 2003 – FundingPost DC Venture Capital Workshop

    D.C.: FundingPost brought together 60 CEOs to learn discuss how entrepreneurs today are “Preparing for Venture Capital” with Tony Ricciardella from Grant Thornton. Topics included:
    • Corporate Structure
    • S-Corporation
    • Advantageous from a tax perspective since profit and losses pass through to the shareholders
    • Avoids double taxation in the event of a sale of the Company.
    • Not very flexible when try to raise capital
    • Limited number of shareholders (75)
    • Limited to one class of stock
    • VC’s investment would probably bust the S-Corp election
    • Limited Liability Corporation
    • Has the benefits of a partnership and a Corporation. Can make the election (check the box) to be taxed as a C-Corp.
    • Permits more than one class of stock and more than 75 shareholders.
    • C-Corporation
    • Permits more than one class of stock and more than 75 shareholders.
    FundingPost is proud to share our workshop presentation from leading service providers such as Grant Thornton as a benefit to the entrepreneurial community.

    We are happy to share this presentation with you as a benefit to the entrepreneurial community.

    Please click here to view the free presentation in PDF format:
    Preparing For Venture Capital
    Adobe Acrobat required.

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    Raising Venture Capital – What to Expect:
    • Funding from the venture capitalist may come in the form of debt or equity financing or some combination of both (i.e. debt with warrants).
    • Need to ensure that all consideration exchanged is properly recorded (for example, in a debt with detachable warrants transaction, the value of the warrants would be recorded as a contribution to equity and a discount to the face amount of the debt).
    • Beware of beneficial conversion features in convertible equity or debt instruments.
    • After the investment you will have a new member(s) on the board.
    • Will probably be required to have an audit performed annually by a reputable accounting firm.
    • Will likely have an audit committee that will meet periodically throughout the year to discuss accounting and auditing matters.

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