Now that we’ve taken things a few steps further, it’s time for a status update.
We have founded a company, so now all we need is its valuation.
FinderBase Corporation is a public limited company with 8,000,000 shares. I’m the majority shareholder with 5,500,000 shares. I’ve spent 55,000 € of my own savings to buy these shares so my project is on the negative side with the same amount (plus some peanuts to go with it).
My challenge was to make my personal ownership worth $1,000,000. This adds up to $1,073,000 as the investment must be also covered. This means that I’ve successfully completed my project if we issue a credible number of shares to an external investor at a price of $0.20/share or 0.15 €/share.
It remains to be seen whether that is the correct price per share in our company.