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Erik: Why did you choose to raise financing using convertible debt and not equity? Dan: That was a really tough decision. The benefit of raising convertible debt is really flexibility in terms of deal structuring, its easier when you go to the next round of funding to sort of structure the deal and go through the discussions one time instead of doing that with two different sets of people, once with the angels and once with the VCs so there was flexibility there in the structuring, theres also time to close and theres very little legal back and forth it was just a very stock document so it made it really fast. Thats a list of the benefits, the draw backs about what would have been good about equity is there is no assurance to our investors that they will own a percentage of the company, even though that is both our desire and their desire. So, its somewhat of a strange a strange structuring because it really doesnt give both people what they want out of the arrangement early eno
