00:00I'll give you the $200,000 as venture debt.
00:02But here's how it works.
00:04I'm going to ask you for 6% of everything you sell
00:06until you've returned me $800,000, okay?
00:10And then it goes away.
00:11It's gone.
00:12And I want 3% equity for providing this facility.
00:16So I'm quadrupling the amount of money that you give me.
00:19And in exchange, you're keeping 3% of my company?
00:22Is that right?
00:23You have no money.
00:24And maybe one of these sharks will give you the money,
00:26but you're going to give up 8% of your company for it, or more.
