As a result, as I got a little older, it was probably no surprise to anyone that I would spend the first 10 years or so of my professional career in field sales — we called it outside sales at the tim
As a
result,
as I got a little older, it was probably no surprise to anyone that I would spend the first 10 years or so of my professional career in field sales — we called it outside sales at the tim
as I got a little older, it was probably no surprise to anyone that I would
spend the first 10 years or so
of my professional career in field
sales — we called it outside
sales at the time.
Given the absence
of a public trading market
of our common stock, and in accordance with the American Institute
of Certified Public Accountants Accounting and Valuation Guide, Valuation
of Privately - Held Company Equity Securities Issued
as Compensation, our board
of directors exercised reasonable judgment and considered numerous and subjective factors to determine the best estimate
of fair value
of our common stock, including independent third - party valuations
of our common stock; the prices at which we sold shares
of our convertible preferred stock to outside investors in arms - length transactions; the rights, preferences, and privileges
of our convertible preferred stock relative to those
of our common stock; our operating
results, financial position, and capital resources; current business conditions and projections; the lack
of marketability
of our common stock; the hiring
of key personnel and the experience
of our management; the introduction
of new products; our stage
of development and material risks related to our business; the fact that the option grants involve illiquid securities in a private company; the likelihood
of achieving a liquidity event, such
as an initial public offering or a
sale of our company given the prevailing market conditions and the nature and history
of our business; industry trends and competitive environment; trends in consumer
spending, including consumer confidence; and overall economic indicators, including gross domestic product, employment, inflation and interest rates, and the general economic outlook.
The
result for the month
of June, a fall
of 0.8 per cent, incorporates a substantial decline in
spending in department stores; this may partly reflect recent changes to the timing
of mid-year
sales,
as there was a similar fall recorded the previous June, followed by a strong bounce - back the next month (Graph 13).