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Open navigation menu Close suggestionsSearchSearch enChange Language UploadDownload free for 30 days User Settings close menu Welcome to Scribd! * Upload * Read for free * FAQ and support * Language (EN) * Sign in 0 ratings0% found this document useful (0 votes) 64 views CARTA 409A REPORT SAMPLE UPLOADED BY jaewoo1014 Carta 409A Report Sample Full description Download SaveSave Carta 409A Report Sample For Later 0%0% found this document useful, undefined 0%, undefined Embed Share Print Report CARTA 409A REPORT SAMPLE UPLOADED BY jaewoo1014 0 ratings0% found this document useful (0 votes) 64 views 74 pages DOCUMENT INFORMATION click to expand document information Carta 409A Report Sample COPYRIGHT © © All Rights Reserved AVAILABLE FORMATS PDF, TXT or read online from Scribd SHARE THIS DOCUMENT SHARE OR EMBED DOCUMENT SHARING OPTIONS * Share on Facebook, opens a new window Facebook * Share on Twitter, opens a new window Twitter * Share on LinkedIn, opens a new window LinkedIn * Share with Email, opens mail client Email * Copy link Copy link DID YOU FIND THIS DOCUMENT USEFUL? 0%0% found this document useful, Mark this document as useful 0%0% found this document not useful, Mark this document as not useful IS THIS CONTENT INAPPROPRIATE? Report Download now Download as pdf or txt SaveSave Carta 409A Report Sample For Later 0 ratings0% found this document useful (0 votes) 64 views74 pages CARTA 409A REPORT SAMPLE UPLOADED BY jaewoo1014 Carta 409A Report Sample Full description SaveSave Carta 409A Report Sample For Later 0%0% found this document useful, undefined 0%, undefined Embed Share Print Report Download now Download as pdf or txt Jump to Page You are on page 1of 74 Search inside document Common stock valuation for Meetly Valuation date March , Prepared by Carta Valuations LLC on Oct. , adDownload to read ad-free Powered By 00:00/03:11 10 Sec Taking Stock with Trinity Chavez: Butlr.io Honghao Deng Next Stay TABLE OF CONTENTS Introduction Letter of engagement .............................................................................................................................................Valuation summary ................................................................................................................................................. Company overview Company overview .................................................................................................................................................Financials overview .................................................................................................................................................Capitalization ..........................................................................................................................................................Discussion of methodology .................................................................................................................................... Valuation results Comparable public companies statistics ............................................................................................................ Subject company transaction method ............................................................................................................... Equity allocation discussion ................................................................................................................................ Discount for lack of marketability ........................................................................................................................ Report certification Appraiser bio and credentials ............................................................................................................................. Representation of Carta Valuations LLC ............................................................................................................. Statement of assumptions and limiting conditions ............................................................................................ Appendix Economic overview .............................................................................................................................................. Economic outlook ................................................................................................................................................ Major products ..................................................................................................................................................... Operating conditions ..............................................................................................................................................Industry structure ....................................................................................................................................................Valuation methodologies ..................................................................................................................................... Allocation ............................................................................................................................................................. Discount for lack of marketability ........................................................................................................................ CONFIDENTIAL Unlock this document Upload a document to download this document or subscribe to read and download. Upload to downloadStart your 30 day free trial or Unlock this page after an ad 10 adDownload to read ad-free Oct. 11, 2022Aaron Kim Chief Executive Officer MEETLY MARKET ST BSMT SAN FRANCISCO, CA - This report details the valuation analysis used to derive the fair market value of the common equity of Meetly (here-inafter referred to as “Meetly” or the “Company”) on a per share basis (“Subject Interest”) as of March , (“Val-uation Date”). It is understood that the valuation of the Subject Interest, as developed in this report, will be used fortax planning and financial reporting purposes in recognition of Internal Revenue Code Section A (“A”) andFASB Accounting Standards Codification Topic – Stock Compensation (“ASC ”). As such, this report shouldnot be used for any other purpose.The analysis was prepared following the guidance of the American Institute of Certified Public Accountants (“AIC-PA”) Accounting and Valuation Guide: Valuation of Privately-Held-Company Equity Securities Issued as Compensa-tion (the “AICPA Guide”).The definition of fair market value is predicated on IRS Revenue Ruling -. STANDARD OF VALUE For income tax purposes, the appropriate standard of value is fair market value ("FMV"), which is defined as: Theprice,expressedintermsofcashequivalents,atwhichsuchpropertywouldchangehandsbetweenahypotheticalwillingandablebuyerandahypotheticalwillingandableseller,actingatarm’slengthinanopenandunrestrictedmarket,whenneitherisunder compulsion to buy or to sell, and when both have reasonable knowledge of relevant facts. For financial reporting purposes, the appropriate standard of value is fair value ("FV"), which is defined as: Theamountatwhichanasset(orliability)couldbebought(orincurred)orsold(orsettled)inacurrenttransactionbetweenwillingparties, that is, other than in a forced or liquidation sale. According to the May , FASB Board meeting, the above definition of fair value is consistent with the defini-tion of fair market value in Internal Revenue Ruling -. We are not aware of any facts that would cause a differ-ence in our conclusions on a fair market value basis compared with fair value. As such, it is not unreasonable thatour conclusion of fair value for financial reporting purposes be consistent with our conclusion of fair market valuefor tax reporting purposes. SCOPE OF ENGAGEMENT This report was created in compliance with guidance regarding valuation methodologies published by the AICPA. 409A Valuation for Meetly CONFIDENTIAL 3 Unlock this document Upload a document to download this document or subscribe to read and download. Upload to downloadStart your 30 day free trial or Unlock this page after an ad 10 adDownload to read ad-free We considered differences between the Company’s preferred and common shares, as applicable, with respect toliquidation preferences, conversion rights, voting rights, and other features. We also considered appropriate ad-justments to recognize lack of marketability related to the Subject Interest. SCOPE OF ANALYSIS CartaValuations,LLChasbasedthisreportoninformationprovidedandrepresentedbythemanagementofMeetly(“Management”). Our review and analysis included, but was not necessarily limited to, the following steps:• Communication with Management concerning the assets, financial and operating history and forecastedfuture operations of the Company;• Analysis of audited and unaudited historical and forecast financial statements, as applicable, and otherfinancial and operational data concerning the Company;• Review of corporate documents including, but not limited to, the capitalization summary of preferred stock(“Preferred Stock” or “Preferred Shares”), Common Stock, options and warrants;• Analysis of the Company, its financial and operating history, the nature of its product(s)/service(s),technologies and its competitive position;• Analysis of the industry in which the Company competes, the stage of the development of the Company’starget markets and the pace of adoption of its chosen technology platforms;• Research and analysis concerning comparable public companies and transactions involving comparablepublic and private companies;• Analysis concerning the current economic conditions and outlook for the US economy, as well as applicableglobal economic conditions; and• Analysis and estimation of the FMV and FV of the common equity on a non-marketable, minority interest basisas of the Valuation Date. CONCLUSIONS Based on the information provided and the analysis conducted, and subject to the attached Statement of Assump-tions and Limiting Conditions, it is our opinion that the fair value and fair market value of one share of the Compa-ny’s common stock on a non-marketable, minority basis as of the Valuation Date is as follows:Common Stock of Meetly: $162 Carta Valuations LLC's fee for this service is not contingent upon the results of the Valuation expressed herein. ThisValuation is subject to the terms and conditions of the master subscription agreement between eShares, Inc. (anaffiliate of Carta Valuations LLC) and Meetly executed on July , . 409A Valuation for Meetly CONFIDENTIAL 4 Unlock this document Upload a document to download this document or subscribe to read and download. 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