From: Kevin Law <S>
Sent: Saturday, February 12, 2011 6:18 PM
To: jeevacation@gmail.com
Subject: Fw: Howcast Summary Financing Terms
As requested. I was incorrect the bridge converts into the A round so the table is clean on the proposed new B round.
See financing history below.
KL
From: alan
To: Kevin Law
Sent: Sat Feb 12 13:12:51 2011
Subject: Howcast Summary Financing Terms
January, 2008 - $10MM Series A Round led by Tudor at a $13.5MM pre-money valuation and a $23.5MM post. $3MM
of early seed financing by Jason Liebman was converted into this round at par terms - new capital in at the time of
closing was $7MM.
September, 2009 - $3MM convertible bridge led by Tudor and supported by new and existing investors. Since we never
went out for a Series B round prior to December, 2010 which we originally expected to do - all note holders (who had a
repayment option) have exercised their option to convert into the Series A at a 10 percent discount which will close next
week. Otherwise the notes would have converted into the Series B round at 20% discount. Post after the conversion
will be 26.5M
July - December, 2010 - $1.75MM of non-convertible notes at a 10 percent interest rate by Jason Liebman. These notes
will either remain outstanding or Jason will roll them into the Series B.
Jason Liebman has invested a total of $5.75M in all rounds
February 2011- targeting a $7 - 10MM Series B round at a 33-35MM valuation.
Jason Liebman
Chief Executive Officer
Howcast Media. Inc.
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