The following information is based on our understanding of how some investors will be taxed on commonly used investment instruments.  Each company hosted on Republic prepares its own security instrument for fundraising.  We do not provide any guidance as to how such instruments may be taxed generally or how a specific investor purchasing these instruments would be taxed, and encourage you to discuss any tax questions with your tax, legal, accounting, and other financial advisers.  The great majority of investments in seed-stage and early-stage companies result in complete losses for the investor, so tax losses may be expected on your investment.