Please keep in mind that these waterfall scenarios contemplate and include assumptions that have yet to take place, and which may never take place, such as term loan(s) reaching maturity, indeterminable amounts of exercising of all outstanding option grants and warrants, non-conversion of debt, the company achieving an acquisition or similar cash milestone at a certain valuation and dollar amount, etc. As such, everything reflected in the waterfall and potential outcomes is subject to nuances, future dilution, option grants to be issued in the future, rounding of values within the calculation, etc. So, these scenarios should be viewed as illustrative examples of potential outcomes, not as hard and fast calculations.