audeo: sketched potential for dilution, page-3

Sorry, I should have been clearer. The round numbers suggest some methodology/planning in the 1/37 number. Here are the details:-

1) Starting point is 7,500,000 Audeo shares (all to ACL holders).

Then assuming a $5 issue price the (total shares after IPO) and [$ raised] and {dilution} are:

a) (11,376,364) | [$19 million] | {50%} UNLIKELY

b) (15,168,490) | [$38 million] | {100%} MID-LIKELY

c) (19,584,245) | [$60 million] | {158%} MOST LIKELY

The "round" nature of b&c suggest to me that we got to the 1/37 by working backwards from a $40 million or $60 million IPO target?

Thoughts?