So this is 3.02 per share book value per share.

And book equity per share, or the book value per share of 6.00.

So what is the value per share?

So what is the value per share?

That would have been the market value per share.

So let's see, the book value per share is what?

Because we know that the book value per share is 5.

And that tells you that the book value per share is 4.

So the book value of the new shares is 20 per share.

So price per share.

Exactly 6.00 per share.

And let's say Company B made 5 per share. 5 EPS, Earnings Per Share.

So there is an NAV per share, the NAV per share over here is 200,

Let's say that the market value we talked before that the book value per share of this company is 5.

And you have earnings per share.

That's 0.35 per share of EPS.

Sold them at 1.50 per share.

They could've gotten them for 1 per share before, now they are worth 20 per share.

you have to buy this back from me at the NAV (net asset value) per share.

But anyway, so the market is giving a 12.00 per share value, what does that mean?

Maybe, if this were Goldman Sachs' balance sheet, maybe its book value per share is 6.00.

Second round we got 7.50 per share.

And now we're getting 10 per share.

So essentially they're paying 0.40 per share.

So I said if the value the market is placing on a share is 12.00 per share, that's a 6 billion market cap.

Divided by 10,000 shares is 2.10 per share.

Price per share of Company B is 20.

This is Earnings Per Share, not total earnings.

That's what the market is essentially saying if they're paying 12.00 a share for something that essentially has a book value of 6.00 per share.

And 3.00 per share times half a billion shares, that's a 1.5 billion dollar market value of its equity.

And now what's the book value of our shares? 5 billion divided by 2.5 billion, it's 2 per share.

Company A made 1 per share. 1 of EPS.

And B is expected to make 4 per share.

15 million divided by 2 is 7.50 per share.

We'll buy 2 billion shares at 1.50 per share.

This is the book value for a share.

The price per share, the market price per share, is 3.50, so you could also say it's trading at a discount to book.

This guy, 18,900 divided by 10,000 is 1.89 per share.

And we'll talk about earnings per share in this case.

So if we believe these numbers, if we believe the books, the book value of the shares is about 3.02 per share.

So no matter what I do, between the pre money and the post money valuation, my per share value doesn't change any.

In this case, they're saying 10 per share times 500,000 shares.

And he essentially valued our old shares at 7.50 per share.

Remember the first round, the angel gave us 5 per share?

Inherently, when you're talking about value, you have to take the price per share and you multiply it times the number of shares.