Proper due diligence during seed investments is very rare anyway, this is because a proper due diligence costs anywhere from 35K and up (legal, technical, financial, financial can be quite abbreviated in a start-up), it simply isn't worth it at the level of most seed investments.

Seed investments are all about team, product, vision and trust, they're not about technology, legal issues (other than obvious ones) or financial statements.

> Anyways, this is pretty interesting for entrepreneurs in generally cause they can close a seed round (even $2M) in a few weeks. ;-)

It's ridiculous to call $2M a seed round.