I'm not conflating. I'm sure of the realities of deals I've observed/participated in. My point about "zero bearing" stands. I'll repeat the concept differently

I'm not conflating. I'm sure of the realities of deals I've observed/participated in. My point about "zero bearing" stands. I'll repeat the concept differently: be careful if you have any non-accredited investors on your cap-table; there is a greater-than-zero chance it can affect the next deal(s).