She continues her presentation with the desired percentage of ownership the Angels want for their investment in the company, and a request to include employees in a stock option plan of up to 15% of ownership in the company prior to the Angels investment, along with a list of legal requirements and terms.
The IRS, he says, was forcing him to award dividends within the old employee stockownershipplan in proportion to an individual's ownership in the company, thus excessively rewarding longtime employees at the expense of newer ones.