Ken Montgomery, founder of XL NanoDevices, invested $50,000 as seed money from his personal funds when he started XL in April 2019. His co-founder, Steve Moore, invested $25,000 at the same time. Arbitrarily, they decided to issue 1,000,000 shares of common stock to themselves as founders and sole owners when they filed XL's incorporation papers with the state. Ken, who had the initial idea for XL and who had invested the greatest amount of "sweat equity" to date, received 750,000 shares of XL common stock while Steve received 250,000 shares. No other shares have been issued since.

When the company was launched in April 2019, the founders also secured the backing of Meg Ferris, a local angel investor with substantial experience in their technology. Meg invested $300,000 in XL in the form of a convertible note. Terms of the note included: (i) a compounding interest rate of 6% per annum; (ii) a duration of 24 months; (iii) a conversion discount of 20% tied to the Series A share price; (iv) a $1,000,000 minimum future financing for conversion of the note; (v) a pre-money valuation cap on the note of $6,000,000; and, (vi) if XL is acquired prior to a Series A financing, Meg would receive 150% of the note's principal investment amount.

As of today, April 2021, Ken and Steve have successfully developed a working prototype of their revolutionary new drug delivery nanoparticles and are beginning to attract favorable attention from a number of research laboratories at large pharmaceutical companies.

Timberlake Associates, a regional venture capital firm with considerable experience in nanotechnologies, has been introduced to Ken by Meg and is considering an investment in XL. Timberlake's people have reviewed XL's business plan and have conducted enough due diligence to get comfortable with such an investment. The business plan calls for a first, Series A, round of financing of $3,000,000 in April 2021 and a second, Series B, round of $7,500,000 in April 2023. Timberlake's target rate of return is 50% per annum (compounded) for the Series A investment. They desire a target rate of return of 40% p.a. (compounded) for the Series B round.

XL's business plan anticipates that a strategic corporate investor will acquire XL in 5 years (i.e., in April 2026), this being the exit strategy for XL's investors. Proforma income statements provided in XL's plan project annual sales revenues to be $15,000,000 in 5 years under a "success" scenario. The investors believe that a typical price/revenues ratio for similar early-stage high-tech companies is about 5:1.

At the planned "liquidity event" in April 2026; what will Ken's shares in XL be worth and what annual rate of return (compounded) on his original $50,000 investment does this represent?

e Page(s) 598-599 19.1. How is macroeconomics different from microeconomics? lassify each concept as microeconomic or macroeconomic. The hiring decisions of a company Microeconomic The financial decisions of a family Microeconomic Microeconomic Macroeconomic The median income of a small state Macroeconomic Nice job! You earned back 10 points. + The unemployment rate of a nation Examining the unemployment rate for a whole nation is a broad, macroeconomic Macroeconomic topic. Macroeconomics helps explain the behavior ofyou are producing an Organization Chart for a CM Contract, in your organizational arrangements; how would you explain the following? 1. With whom would the Owner have Privity of Contract with? (5) 2. With whom would the AE/Consultant have Privity of Contract with? (3) 3. With whom would the Sub-Consultant have Privity of Contract with? (3 4. With whom would the Contractor have Privity of Contract with? 5. With whom would the Sub-Contractor have Privity of Contract with? 6. With whom would the Supplier/Vendor have Privity of Contracts with? What does the CM do in the CM Contract? In fact, what are his her responsibilities? For the toolbar, press ALT F10 (PC] or ALT + FN F10 [Mac).19. After the null hypothesis is rejected in Pearson correlation analysis a, graphical visualization proceeds b. 95% CI of r is obtained C. prospective power analysis may be done d. R-square is calculated e. all of the above 20. When we compute a traditional, 95% confidence interval (CI) of a correlation coefficient a, the CI measures uncertainty about parametric r b. we can't be absolutely sure population r is in the CI c, the CI consists of 2 numbers: LB, UB d. observed r lies midway across the range of the CI 2. 5% of the time it will not include population r f. 95% of the time it will include population r g. the CI is as important as the p-value of observed r h. all the above are correct 21. A preliminary experiment involved college students during final exam week. Randomly selected, a group was given access to DARK CHOCOLATE before the exam and the amount eaten was recorded, In general, it turned out the more chocolate eaten the better they did on the exam; but, beyond a certain point, the more chocolate eaten the worse they did on the exam, This apparent relationship between amount of chocolate eaten and how well students did on the exam is an example of a. strong, Pearson correlation b. positive, Pearson correlation C. negative, Pearson correlation d. a nonlinear relationship e. none of the above 22. When "correlation" is written or spoken about without a qualifier, we assume the type of correlation referred to is a. Kendall b. partial correlation c. multivariate correlation d. Pearson e. autocorrelation f. Spearman g- Bayesian correlation h. none of the above 23. A blvariate data set does not even come close to meeting the assumptions of Pearson correlation, And, sample size is VERY LARGE. The analyst remains determined to perform correlation analysis. Which of the options below is statistically wise. a, pursue Bayesian correlation b. calculate Pearson r but find its Cl by bootstrap E. calculate Pearson r but test its significance by permutation d. pursue nonparametric correlation . any of the above