Steve Petersheim

$37,500 total.

And that was in 2020?

That was in 2019.

So that was when I launched.

Essentially, that was the initial seed money, which came from my former employer.

That CEO that I mentioned that we decided together that we were going to build this product, that was my former employer.

Well, it's a convertible note.

So there is no equity yet.

The cap is...

Well, I don't know.

We don't have a cap.

We just have mandatory conversion, which is if we when we get to 300,000, then we have a mandatory conversion.

Either 300,000 or December 31st, 2025 is our 300,000 what dollars of what?

If we raise $300,000, then that creates a conversion event for the note, and then they get a discount.

That is to be mutually agreed upon at a later date.

What happens when anybody...

We don't expect that to happen, but that's a conversation we would have to fight through if it comes to that.

We're confident it's not.

This is my former employer.

I have a very close relationship with these people, so we don't see it as a problem.