For what it's worth, a 35% dilution per round is pretty high. If you have good traction 15% is very doable. That said, I like that it's conservative so you'll

For what it's worth, a 35% dilution per round is pretty high. If you have good traction 15% is very doable. That said, I like that it's conservative so you'll undervalue your options - it's very likely that they'll be worth nothing.