Hmm, I think with that argumentation you'd get a slippery slope argument. "If you take 19 Million Dollars, would you say "no" to 18999999$ ?" Of course not, and this argument can be continued. Therefore the value one can state is surely one that gives a rough sense of the amount of money that one would take for the company, a fuzzy value. Of ocurse most people would be willing to take a lesser amount, but when they state the lesser amount, they'd probably take even then a smaller sum again.
And of course if an investor would be willing to invest 19 million than he would probably be willing to invest 20 million as well... after having established the rough amount of money one would take the outcome seems to depend on negotiation skills. And to betray the actual lowest amount one would take might weaken one's own position ;-)
And of course if an investor would be willing to invest 19 million than he would probably be willing to invest 20 million as well... after having established the rough amount of money one would take the outcome seems to depend on negotiation skills. And to betray the actual lowest amount one would take might weaken one's own position ;-)