"Well, in the early days we agreed to send a certain % of Revenues, in perpetuity, without dilution or adjustment, to earlier investors. So ya, that's where it's going."
"Oh. Ouch. I guess that makes your company less valuable to us, since the future cashflows are skimmed off. Ahem, excuse me, not the future CASHFLOWS, but the REVENUES are skimmed off. Double ouch."
"Ya. But back then we obviously would have raised from LITERALLY ANY INVESTOR that had just been willing to do a regular SAFE, but we couldn't, so had to do this weird thing."
"Sorry to hear that. We're obviously out as potential investors - this doesn't seem like an equity structure we can work with. Maybe find another investor who likes SAFER's, and keep stacking these future Revenue rights? Just make sure you have enough Revenue left over to pay your staff etc. Best of luck!"