Suppose that you are the founder and sole owner of a software firm that specializes in back-office processing for municipalities. Over the past three years, your firm has focused on developing the software and reported sizeable R&D expenses and annual losses. An interested buyer has approached you with a potential buyout offer. However, the investment bankers representing the buyer have proposed to value your firm using market multiples. Since your firm has reported losses, they suggest basing the valuation on book value per share and using Oracle and SAP as comparables. Do you think their methodology is flawed? If so, how would you support your position and negotiate a fair buyout price?