Suppose that it is one year after Andreessen Horowitzs investment in Alpha Fintech (using the convertible preferred structure used in the previous problem), and Greycroft makes a Series B investment for 6M shares of Alpha Fintech at $.02 per share. Following the Series B investment, what percentage of Alpha Fintech (fully diluted) would be controlled by Andreessen Horowitz under the following scenarios:

a. Series A has no anti-dilution protection. b. Series A has full-ratchet anti-dilution protection. c. Series A has broad-based weighted average anti-dilution protection. d. Series A has narrow-based weighted average anti-dilution protection.

Amount Invested PPS Number Shares Series A $6,000,000 $1.00 6,000,000 Series B $1,200,000 $0.20 6,000,000 Security Common-Founders Common Employee Stock Pool Issued Unissued Series A Preferred Series B Preferred Total Pre Series A # Shares 15,000,000 3,000,000 600.000 2,400,000 0 0 18,000,000 83.3% 16.7% 3.3% 13.3% 0.0% 0.0% 100.0% Post-Series A # Shares 15,000,000 3,000,000 600,000 2,400,000 6,000,000 0 24.000.000 Pre-Series B # Shares % 62.5% 15,000,000 62.5% 12.5% 3,000,000 12.5% 2.5% 600,000 2.5% 10.0% 2.400.000 10.0% 25.0% 6,000,000 25.0% 0.0% 0 0.0% 100.0% 24.000.000 100.0% Post-Series B # Shares % 15,000,000 50.0% 3,000,000 10.0% 600,000 2.0% 2,400,000 8.0% 6,000,000 20.0% 6,000,000 20.0% 30,000,000 100.0% Amount Invested PPS Number Shares Series A $6,000,000 $1.00 6,000,000 Series B $1,200,000 $0.20 6,000,000 Security Common-Founders Common Employee Stock Pool Issued Unissued Series A Preferred Series B Preferred Total Pre Series A # Shares 15,000,000 3,000,000 600.000 2,400,000 0 0 18,000,000 83.3% 16.7% 3.3% 13.3% 0.0% 0.0% 100.0% Post-Series A # Shares 15,000,000 3,000,000 600,000 2,400,000 6,000,000 0 24.000.000 Pre-Series B # Shares % 62.5% 15,000,000 62.5% 12.5% 3,000,000 12.5% 2.5% 600,000 2.5% 10.0% 2.400.000 10.0% 25.0% 6,000,000 25.0% 0.0% 0 0.0% 100.0% 24.000.000 100.0% Post-Series B # Shares % 15,000,000 50.0% 3,000,000 10.0% 600,000 2.0% 2,400,000 8.0% 6,000,000 20.0% 6,000,000 20.0% 30,000,000 100.0%