Investor view / Synthetic mechanics v1.0
A transparent working view of the Multi-Project Milestone Participation: one claim across ten cellular-agriculture projects, with milestone-controlled funding and explicitly shared risks.
01 / One pool, three constructions
Range endpoints use different feasible probability witnesses. They are not a confidence interval and cannot be combined into one forecast.
Validated analytical preview. Construction values retain the frozen C++ synthetic fixture; the financeability boundary is also computed in-browser by the published C++ WebAssembly module. Neither is market calibration.
Emscripten Release 73/73 · Published WASM byte parity · Reconciliations 002 / Meet the underlying claims
The pool spans research through repeat production to test one common financial interface. That diversity is analytical; it is not evidence that a live mixed-stage issuance would be admissible.
Research
03 / Follow the money
Project cash, recovery, returned reserves and third-party support remain separate. The chart uses the selected construction’s central synthetic measure.
Returned reserve is capital, not profit. External support is a transfer, not project performance.
Continuing principal is exposure—not cash and not yet realized loss.
Combines milestone claims and makes cash, exposure, loss, return and dependence measurable.
It does not improve project cash or remove common shocks.
05 / Nine complete joint paths
Choose a joint state. Every claim receives an explicit path code, producing one reconciled pool loss and continuing-exposure result.
06 / Common-hurdle comparison
Central and adverse expected NPV are shown on one common scale where the 8% comparison is valid. The zero line is the decision boundary, not a promise of market value.
Funded stack: central prefunding drag is 8.984. Its first-loss and priority classes also fail their separate stated hurdles.
Guarantee: the provider-performing result excludes premium. The modeled all-in support gap is 28.467; wrong-way provider credit raises it to 28.702.
07 / Conditional issue boundary
Each row tests one supplied hurdle independently. The investor ceiling U protects the stated return requirement; the issuer floor L protects the complete issue funding identity.
Synthetic physical-measure sensitivity; not fair value, a bid, an observed hurdle, provider capacity, or evidence of demand.
The page will show tested investor ceilings, issuer floors, reference price and support gaps only after a verified model result is supplied.
08 / From model to investable asset
The model is valuable because it can refuse weak terms. A live instrument requires evidence strong enough to replace every invented economic input.
Public mechanism ledger
Each record sharpens the contract and diligence questions. None yet supplies the complete matched cash, loss and independent price evidence required to estimate investor return.
Read the empirical boundary| Record | Publicly reported mechanism | Model authority |
|---|---|---|
| Liberation Labs 2024–25 | Private secured notes with promised interest and conversion Controlled dossier | Mechanism only / no model input |
| Solar Foods Factory 01 2022–25 | Gas-fermentation protein facility—an operating-risk class distinct from cultivated meat—with an amortizing facility and named export-credit guarantors Controlled dossier | Mechanism only / no model input |
| Meatable Innovation Credit 2024 award / 2025 wind-down resolution announced | Issuer-reported award; later investor RNS reports a resolution to dissolve and wind down after continued funding was unavailable. Public-credit default, remission and recovery remain unknown Controlled dossier | Mechanism only / no model input |
Admission result3 controlled dossiers assembled · 0 calibration-eligible · market hurdle not identified
Current economic conclusion
Synthetic mechanics verified; market price not identified.Open-standard commitment
Naturalehia retains no protocol fee, carried interest, instrument royalty, or share of financed-company receipts. Underlying project claims may still assign capped commercial, licensing, royalty, capacity, offtake, or exit cash to investors.
Author takeThe honest boundary
The model separates project receipts, recoveries and external support. A tranche can move loss; a guarantee can transfer it. Neither can repair missing commercial value, and no payment is assigned to Naturalehia.
Read the short instrument document