If we are unable to attract and retain the qualified personnel we need to succeed, our business will suffer. The model used by us requires the input of highly subjective assumptions, including the price volatility of the options underlying stock. The Motley Fool owns shares of and recommends Alphabet A and C shares. Our expansion into new markets may not prove to be successful in those markets where public transportation systems are limited or where awareness and adoption of car sharing by the local population is limited. Together, they cited information from. Note A has a revolving period of one year, with an amortization or repayment period of an additional two years. Most conservation histories do not look far beyond the rivers and forests of the American West.
The most significant input into the Black-Scholes option-pricing model used to value our option grants is the fair value of common stock. Total revenue per member is derived by dividing the total revenue for the period by the average number of members during that period. A company's is a formal legal document designed to provide information and full details about an investment offering for sale to the public. As a result, we possess car sharing information and knowledge that we believe none of our competitors has. Specify which school personnel are responsible for protecting children and explain safety programs in place, such as lock down procedures or how the school responds if a student gets hurt or becomes ill. Damage waiver fees are recorded as revenue ratably over the term for which such waiver coverage applies.
In a member survey we conducted, the majority of respondents report selling a car or electing not to buy a car when they join Zipcar. Any loss of our ability to offer our members a credit card payment option would make our services less attractive to them and hurt our business and cause a loss of revenue. The new member will receive his or her Zipcard within days of signing up. Describe in detail how any money that the lender gives you will be used. The underwriters expect to deliver the shares against payment in New York, New York on April 19, 2011.
Recent turmoil in the credit markets has reduced the availability of debt financing and asset-backed securities have become the focus of increased investor and regulatory scrutiny. To fulfill the anticipated demand for our car sharing services, we must make significant investments in vehicles and parking. The tangible long-lived assets were recorded at their estimated fair value, which approximates their carrying value except for Streetcars in-car equipment, which is to be retired and replaced by the Company as part of a transition plan to move to a single technology platform. If a large number of vehicles are the subject of simultaneous recalls, or if needed replacement parts are not in adequate supply, we may not be able to use the recalled vehicles in our active fleet for a significant period of time. You must give very detailed information in this chapter. Goodwill is subject to an impairment analysis at least annually based on the fair value of the reporting unit.
Our Internet website address is www. Owned vehicles and vehicles held under capital leases are capitalized as part of property and equipment and depreciated over their expected useful lives to estimated residual value. We expect to incur significant future expenses as we develop and expand our business, which will make it harder for us to achieve and maintain future profitability. We help businesses and local governments save money, meet environmental sustainability goals and reduce parking requirements by providing their employees with access to Zipcars. Once we register and issue these shares, they can be freely sold in the public market upon issuance, subject to the lock-up agreements. In April 2010, we expanded our London operations with the acquisition of Streetcar, a car sharing service in the United Kingdom. General and Administrative General and administrative expenses consist primarily of labor-related expenses for administrative, human resources, internal information technology support, legal, finance and accounting personnel, professional fees, insurance and other corporate expenses.
The prospectus or any offering document needs to show how the company can scale based on the current and future market, as well as the evolution of its products and services. The consolidated statement of operations data for the year ended December 31, 2006 and 2007 and the consolidated balance sheets data as of December 31, 2006, 2007 and 2008 are derived from our audited consolidated financial statements not included in this prospectus. In addition, we have certain call and put options that are described in Note 12 to the consolidated financial statements. After this offering, our directors, executive officers and holders of more than 5% of our common stock, together with their affiliates, will beneficially own, in the aggregate, approximately 42. Our recent growth rate will likely not be sustainable and a failure to maintain an adequate growth rate will adversely affect our business. Also included in other revenue in 2008 is revenue associated with a government grant program in one city.
We do not have third-party insurance coverage for damage to our vehicles, but we do have third-party insurance coverage, subject to limits, for bodily injury and property damage resulting from 14 member accidents involving our Zipcars. To address the negative effects of increasing urbanization, local governments are searching for solutions, like car sharing, to make cities more livable for urban residents. If you're writing a prospectus for a research project that will generate a book-length report or manuscript, you typically must include a table of contents with your prospectus. Our success will depend, in part, on our ability to expand our markets and grow our business in response to changing technologies, member needs and competitive pressures. The adoption of this guidance is not expected to have a material impact on our consolidated financial position or results of operations.
Nevertheless, we expect that as we increase our fleet and our geographic footprint, the number of driving age residents living or working within a short walk of a Zipcar will increase. Follow this with a bulleted list that identifies benchmarks of a positive learning environment. See Use of Proceeds for more information. You will never pay more than what you are quoted for a project or we will cover the cost of any additional work. Our assumptions underlying the estimates were consistent with the plans and estimates that we use to manage the business. We currently have operating and capital leases supported by various third parties.
Management uses this metric to determine the efficiency of our marketing and advertising programs in acquiring new members. Our key employees possess a specialized knowledge of our business and industry and would be extremely difficult to replace. Our members may reserve cars by the hour or by the day at rates that include gas, insurance and other costs associated with car ownership. The initial public offering price of our common stock is substantially higher than the net tangible book value per share of our outstanding common stock immediately after this offering. We believe the benefits to our members extend beyond simplicity and convenience.