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What percentage of the $32,000 joining fee represents the initiation and what percentage represents the equity?

April 26, 2017equity fee initiation joining PERCENTAGE represents

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What percentage of the $32,000 joining fee represents the initiation and what percentage represents the equity?

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Sixty percent (60%) of the joining fee represents equity – $19,200 and forty percent (40%) represents initiation fee – $12,800. Refundability is deemed ninety percent (90%) of the sixty percent (60%) equity.