How can high growth Series A companies prepare for recurring programmatic liquidity to participate in the new world of private markets?

Yeah. So it's a really good question. We're not talking to a lot of early stage companies intentionally. We're talking to the largest companies we can get ahold of, those that have the biggest, flashiest names, those that we deemed to have the most investor interest. We want to create successful transactions right out of the gate.

The early stage companies -- it's a really interesting point. I think the ones that are potentially most interested in this are going to be those that don't necessarily need to fundraise. They're doing really well from a revenue perspective. They've raised a ton of money maybe in their series A or series B. But maybe they haven't raised money in a few years, and so they're interested to know what their market value is. They want to see if their price can get marked up.

And instead of going out and raising round financing,  and taking further dilution, they can run a transaction on our platform, invite their existing investors, maybe invite a couple of outside investors as well, and see where their stock trades at. And I think just from a data collection standpoint, I think it's going to be extremely powerful for these companies to be able to see what the demand is for their stock.

And it can also help them plan future fundraising events or, as they look to further mature, think about going public, it could be important for that. In order to prepare for listing on CartaX, I think it's important for a company to have a sense of, hey, we know that we have investors that are interested in our stock. These investors keep calling us. They want to invest, but we're not planning on raising any money. So I think those are really good indications that you could have a successful listing and transaction sequence on CartaX. 

In addition to that, I think you're going to have to start preparing regular disclosures. A lot of early stage companies, they have like very high level board updates, and they don't drill into specific metrics. They're not super mature yet, so they have more of the flashy hand wavy type metrics, but not the hard, monetary business type metrics. I think the more mature you get, the more your metrics start to look more like a public company type of metrics or disclosure. And so some of these early companies, they have north stars that are just completely not going to be received as well with some of these institutional investors on our platform. I think in the early stages, the CEO goes out and does a roadshow and really sells the vision of the company, and so it needs to be like a manual process. And so the question is, as you think about listing your company in the future on CartaX, you have to start figuring out how to translate your pitch and your message into  online disclosures. That's the important thing.  As you start to develop that type of a cadence with your investors, where literally just a disclosure packet can tell your story, can tell your message -- that's when you're ready to use CartaX.