So by Dec 2017, they would have to have a half yearly revenue of 5 MIL.
I personally believe they will hit 5 MIL by June 2016.
However, to keep the sanity in check and to be more grounded I will assume that they will certainly hit Milestone 1 by June 2017.
The other unissued I believe are to be exercised at 38 cents which is at approx 150% premium to today's price and is 6 months away !
See below
The only matrix for most startups should be revenue and I feel safe in knowing that the performance shares are based off revenue.
