# Sell, don't issue: what changed in v1.2.0, sgit.ai > The changes to the article "Sell, don't issue" in v1.2.0, paragraph by paragraph. *Source: · sgit.ai v0.7.87 · this file is generated from the same content as the page, so the two cannot drift. Every page on this site has a `.md` twin; internal links below point at them.* --- [Home](../../../index.md) / [Articles](../../index.md) / [Sell, don't issue](../../sell-dont-issue.md) / [Versions](../sell-dont-issue.md) / v1.2.0 # Sell, don't issue: what changed in v1.2.0 From v1.1.0 (2026-10-16, `ebc03336e`) to v1.2.0 (2026-10-27, `db67c5ce1`), paragraph by paragraph. 0 paragraphs added, 0 removed, 2 changed in place, 72 unchanged. About 0 words added and 83 removed. Insertions are marked like this, deletions like this; unchanged runs are folded to one line; figures appear as their file names. [← v1.1.0](v1.1.0.md) · [all versions](../sell-dont-issue.md) 2 unchanged paragraphs !shot si-model.webp | images/ | The two-part model: the investor buys the founder's ordinary sharesshares, and pays the founder; the founder lends part of the proceeds to the company as a subordinated loan; the company gets cash without new shares; and the investor's protection is the open-source fork, not a board seat.company. | architecture 33 unchanged paragraphs, under In short {#in-short}, The starting point: a founder who has already won {#start}, Sell, don't issue {#sell}… !shot si-example.webp | images/ | The same £2 million, two ways, for a UK company worth £10 million: the founder keeps 80% either way; a standard round gives the investor new preferred shares, rightsround, and control, and puts £2 million into the company; selling and lending gives the investor ordinary shares and the fork as protection, and leaves the founder about £1.58 million after tax, to lend back as much as the company needs; and bought shares carry no EIS relief.lending. | comparison 37 unchanged paragraphs, under Why it could raise the odds {#odds}, What breaks {#breaks}, When it works and when it does not {#fit}… [← v1.1.0](v1.1.0.md) · [all versions](../sell-dont-issue.md) --- *[Site index for agents](../../../llms.txt) · [HTML version](https://newsroom.sgit.ai/articles/versions/sell-dont-issue/v1.2.0.html)*