{
  "commercial_traction": {
    "customer_count": 3,
    "total_validation_premium": 750000,
    "validation_premium_per_customer": 250000
  },
  "company_value": {
    "BASE": {
      "investor": 14452450,
      "premium_over_ip": {
        "investor": 2482000,
        "strategic": 3482000
      },
      "strategic": 15452450
    },
    "HIGH": {
      "investor": 24112200,
      "premium_over_ip": {
        "investor": 2482000,
        "strategic": 3482000
      },
      "strategic": 25112200
    },
    "LOW": {
      "investor": 6936500,
      "premium_over_ip": {
        "investor": 2482000,
        "strategic": 3482000
      },
      "strategic": 7936500
    }
  },
  "disclaimer": "Internal analytical scenario, NOT an appraisal, NOT a financing valuation, NOT a guarantee. Pre-revenue/early-revenue; 3 customers, $193 founder-attested (customer #3 recurring $96/mo with a processor record reported, not yet independently verified); no incorporation record; no patent.",
  "evolution": "5 OF 42 (PROJECT SOVEREIGN TRIAL)",
  "founder_paper_equity": {
    "base_scenario": {
      "investor": 14452450,
      "strategic": 15452450
    },
    "high_scenario": {
      "investor": 24112200,
      "strategic": 25112200
    },
    "low_scenario": {
      "investor": 6936500,
      "strategic": 7936500
    },
    "ownership_percentage": 100.0
  },
  "ip_base": {
    "BASE": 11970450,
    "HIGH": 21630200,
    "LOW": 4454500
  },
  "registered_families": 102,
  "relationship": "FIRME AI company value = standalone IP base + business premium (company > IP); founder = 100% owner (founder == company > IP).",
  "schema": "firme_ai.value.with_customers.v7"
}