Jacques all of these are true, but more typically once you go through a significant down round with a lot of new capital raised the common stock holder is wiped

Jacques all of these are true, but more typically once you go through a significant down round with a lot of new capital raised the common stock holder is wiped out. The holders of preference shares may be smart about it and make sure the current employees are protected, but you don't want to be a normal common stock holder.