... p. 15), and debt financing increases the risk to which shareholders are exposed. The downside of debt financing in addition to Pathfinder's capital structure makes equity financing a necessity. PTI's 2005 round of Seed Financing is a note convertible to preferred stock. If PTI does not currently have a call option for the convertible note, PTI should renegotiate in an attempt to create a call option. This option will allow Pathfinder to purchase the converted stock at a later time. The People Every good venture needs a team of individuals with "the right experience, skills and attitudes, given the nature of the opportunity, the context, and the deal struck." ("Some Thoughts on Business Plans", Sahlman p. 3). PTI has a strong team of medical and business professionals. Dr. Bob Galloway, one of PTI's founders, is not only a Professor of Biomedical Engineering, but also a Professor of Neurologic Surgery ...

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