A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.

A pro forma market cap is usually used as a tool by new startups attempting to get venture capitalists to buy in and then take the company public in an IPO. A pro forma statement is based on projected revenue and expenses given a certain scenario, not on actual results.