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Dan Pena

How Do I Get The Fucking Money

TSBobg7340 Sep 24
welcome to ask 250 billion dollar man
with high performance executive success
coach Dan Pena the only show where you
ask and you get complete no-holds-barred
answers you want the truth can you
handle the truth ask only if you dare
head on to wws the 50 million dollar man
calm to submit your questions and now
your host Dan Pena hello this is Dan
Pena again and this is a special podcast
that not out-of-sequence but we’ve
gotten a tremendous amount of questions
about where do you get the fucking money
so notwithstanding I’ve answered this in
directly or indirectly and a number of
questions actually dozens of questions
over a number of podcast since I started
I’ve never just had one subject matter
one topic where we talked about the
sources of capital where you get the
money this is a part of a section very
important section of the seven steps to
quantum leap QL a methodology that I
taught at very seminars that I cover in
raising capital tapes that I’ve covered
in deals and acquisition tapes that I’ve
covered in financial your dream that
I’ve covered all kinds of place but
we’re just going to talk about it where
do you get the fucking money
now first of all we’re going to dispel
some myths about raising capital number
one myth and the biggest myth of them
all is that it’s hard it’s not hard and
in some respects it’s quite easy if you
follow the methodology and you follow
the steps and you don’t deviate many
years ago.the in the late 90s I had
seminar that I gave two to mean a lot of
people all those who the United States
Europe Canada that was raising capital
and it gave a lot more definitive
pointers that I’m going to cover today
but there was a guarantee and I’ve only
given a couple guarantees with my
seminars since I started given the first
seminar 1993 and the guarantee was as
follows if you cannot after attending it
and I used to charge a thousand dollars
persimmon per person to attend the
raising capital seminar and I actually
have between 50 and 200 people in the
audience every time I gave it and it
proved to be one of the most successful
seminars I ever gave luminaries like Joe
polish attended amongst many others and
but if you follow the steps and you
can’t raise money whatever amount of
money doesn’t matter the amount of money
that you wanted to raise in the first
six months subsequent to the seminar I
would do one of two things either I
would go out and raise the money for you
or I write your check myself and invest
in the company but you had to do the the
the requisite steps and one of which was
and the the biggest was to give to
financial presentations per week for the
next fifty to fifty weeks out of 52
because you’re lazy bastards I’ll let
you off two weeks and if you didn’t
raise the money I’d give you your money
back but I would step in after six
months and I would do it myself because
I would rather raise the money than have
to give your money back well from 1995
ish to about well today we have never
had one single person that has called me
on that guarantee now the guarantee
hasn’t been alive probably for eight or
nine years but it was certainly in force
for ten straight years and the people
either raised them
or they didn’t follow the program
well when I’m about to go to is is
similar I’m there’s no guarantees here
but I’m here to tell you that if you
gave five two presentations a week and
that’s two presentations the two
distinct and separate financial
institutions that doesn’t mean you go
and you see Bank of America a manager
and then see the assistant managers the
same branch that doesn’t that means two
different financial institutions and it
is not always a bank and what we’re
going to talk about is insurance
companies pension funds of course
private equity hedge funds etc have
become very popular along with this
diverse methodology as crowdfunding but
if you do two presentations a week I
guarantee that you will raise the
necessary capital no matter how duper
says the deal but you’re not going to
raise it next door you’re not going to
raise it probably at your existing bank
you’re not going to raise it without
having to travel as Robert ringer used
to saying in winning through
intimidation an expert is somebody that
travels 200 miles away and with a
briefcase well raising capital is is
very similar i was based in california
to begin with and then in Houston Texas
for Great Western but I raised most of
my money in New York City and or London
I traveled more than 200 miles and I had
a briefcase so it’s not difficult and I
said in 1995 when I came out with
raising capital tape and when I came out
with a doing deals and acquisition tape
and when I came up with financing your
dream the world is flushed with cash
well if I said that early on now the
world’s even more flush with cash the
only difference is that because of the
financial crisis from two thousand eight
nine ten eleven twelve you may have to
make
travel farther but someplace somebody’s
going to feel that you’re an expert so
we’re going to go through a few of these
but that’s the first myth the second
myth before we actually go through the
actual units that you should go see is
that you can’t over finance in your deal
yes you can over finance your deal I’ve
had mentees that have over financed a
deal 110 120 % come back a year later we
financing 110 120 % come back two years
later you can if you structure it
correctly and we’re not going to talk
about structure here but that’s what you
have lawyers and accountants and again
you need to see your own personal
advisor about your own personal
situation because the questions that
I’ve answered in all the previous
podcasts have been with not false
information because I know you wouldn’t
mislead me on purpose but half
information you only tell me the things
that you think are germane or important
and those probably aren’t the only
germane things that should be considered
when raising finance ok let’s go through
some of these number one sources of
capital angel networks
ok well by definition I don’t believe
the angel networks or angel investors or
angels because they’re no different than
anybody else they want to return on
their investment and while they may seem
more pleasant and palatable to you when
you’re engaging with them at the end of
the day they’ll throw you out and
they’ll do whatever is necessary to get
their return of their capital back and
and not necessarily return on capital
and that’s a good point
most of these investors except for the
real vulture bottom feeders are
interested first on a return of their
capital not a return on their capital
they want to see their capital come back
to them even if there’s no interest rate
associated with it ok so angel networks
and now but with the advent of the
Internet
I mean you can type in angel investor
angel networks in this countless of them
all over the world whether you’re in
Japan South America they’re just tons
and tons and tons of them and and I’ve
seen them work but don’t be fooled and
to think that because it has the name
angel associated with it they’re going
to be any less tough on you okay there’s
barter systems now I’m not a big
proponent of barter systems and I get I
get this up all the time about the
seminar I’ll do this for you if you let
me come in the seminar for free or for a
reduced cost or whatever and they’ve
been doing that ever since I’ve been
giving seminars but even before seminars
I’ll do this for you if you let me in
the deal I’ll put in sweat equity well
sweat equity is one thing but bartering
for one thing to get another I I don’t
like but there are people that do like
it and so you may say you need something
let’s say legal services now this is a
as an aside or this is in addition to
successfully you know can you do this
for me I’ll let you in the deal help me
finance it cover my overhead for the
next three months six months nine months
okay the so the embargoing still exists
in bartering started thousands of years
ago you know a shoe cobbler wanted a
plow so he made shoes for somebody it’s
an old system and it’s still around
factors what is a factor a factor is a
guy or a gal or a company or an
institution it takes your receivables
and he lends you against the receivables
and let’s say you have an ongoing
business we have a year contract with of
course it’s the easier to factor your
receivables if you’ve got IBM or General
Motors or the federal government but
let’s say you got Joe Dokes
manufacturing company and you’ve had the
business for three four five years you
can borrow against your receivables and
they’ll get some discount then the
discounts range from two
sentiment to 5% a month and the real you
know non angel factors are are charging
you 15 or 20 percent of course the
general resources there’s credit cards
friends fools and family anybody and I
say in the seminar a guarantor of a note
is a fool with a pen and those are your
friends and your family and most deals
are funded with credit cards to begin
with or actually friends and fools which
I classify in the same group and your
own personal credit cards the you do
what you have to now in my particular
case when I started out the first time
on my own I use my own credit cards
I also mortgaged against the equity I
had my home which is another alternative
and if you believe in the project enough
you’ll do that yes the homes do get
foreclosed on that’s part of life but
there are when I think when I hear from
people that I can’t find the funding
that’s bullshit you can’t my favorite
has got our governments it’s legendary
that you know I did fifteen million five
hundred and forty thousand dollars in
business my first year in business when
I founded their own Great Western
resources I wasn’t called great one
reason that those days was called Great
Western energy and I got to 20 million
dollar contracts and a ten million
dollar contracts from the federal
government and and nobody pays more than
governments you read about in the United
States they pay $6,000 for a toilet seat
three hundred dollars for an ashtray
it’s outrageous what governments do and
some of them more successful mentees
have gone to governments and bid against
government contracts and now the bidding
process is in some cases is much easier
because it’s on the Internet
in other cases it’s not it makes it
tougher because the competition because
there’s no barrier to entry you don’t
have to actually go there all you have
to do is enter the bidding process
online and that means local government
councils counties cities states
countries a great source of money is the
International Monetary Fund the World
Bank
I had a man T who was looking for funds
in the lumber business and I told him to
go I can’t remember if we went to the
International Monetary Fund or the World
Bank but he went to one of them and
there was money available there’s always
money available some of the government’s
stipulations are much tougher and there
was I think he was able to get potential
financing in the former Eastern Bloc
countries I’m sure that the Romania is
the Belarus’s of this world have
government lending facilities I like the
International Monetary Fund and the
World Bank better because they’re more
legitimate do you have to pay them back
absolutely have to pay them back
but normally the interest rates are much
lower and the payment terms are easier
but governments I mean I’ve had as I
mentioned a couple minutes ago I’ve had
a few mentees over the years more than a
few that have been very successful in
doing business with governments and with
governments the dream team works I mean
an anchor chairman some significant
success ‘fl people that are part of your
board all makes sense and but never
underestimate how much a government can
aid you in fulfilling your dream
incubators what’s an incubator an
incubator is a normally kind of a
private equity fund that’s associated
with a large corporation like Siemens a
General Electric or even a General
Motors and they normally invest in
projects that are either directly or
indirectly associated with some product
that the big company produces and
they’re looking for the big company is
looking for a shortcut to from the
innovation of an idea to a product or an
additional product or supplementary or
complementary portion to their product
line and they’re willing to invest in
the early stage another way of looking
at them is an early-stage private equity
fund for an established company that
already has product line and they
normally give you longer they normally
give you less onerous payback terms and
the and it can be a great deal and
universities have incubators I know for
a fact Microsoft used to hewlett-packard
in the old days used to virtually all
the high tech companies have incubators
where you’re actually physically located
there when the Chinese government asked
me in 2008-2009 to come and look and I
actually went to Hunan Province and I
believe it’s on YouTube to give
presentations to CEOs there in China
they offered me an incubator fund though
they offer me to be part of an incubator
fund where they would give me office
space etc if I and at one time we were
talking about matching funds I put up so
much money and they put up so much money
and never that never got to that stage
but you can find incubator funds all
over okay investment forms now this
thing is wild now I mean you got
everything from the shark tank on
television where you’ve got guys that
are willing to put up money on the spot
how you got other investment forums
where you
at 15 from 10 to 15 to 20 minutes to
pitch some investors and they make
investments right on the spot I used to
participate in the University of Texas
Investment Forum and the honor in the
name of my former partner Charlie solid
eight who was a graduate of University
of Texas and we would give scholarships
to the castle seminar and we had some it
was an international competition then
the contestants came from all over the
world and we did that for a few years
and we had some really really bright
kids come through and that we funded at
that are we would have been a factor of
the investment forum but there’s a lot
of them I mean the one of the most
popular and I guess it may not be called
an investment forum now is there’s a
program on Bloomberg a technology
program where they sponsor kids it’s
harder to get on this in this technology
program than it is to get into Harvard
or Yale and they take they take kids and
they give you a thousand dollars a month
to a project and they initially it’s for
three months and they when you will win
weekly and monthly competitions and one
of the competition’s that has been
viewed is and you get a t-shirt like
working or winning the Tour de France
the stage the Tour de France and then
they answer or your
gift so to speak or prize is what do you
want and in this particular event they
wanted to meet the CEO of AOL and so
they went to meet the CEO a CEO of AOL
and then they had four or five things
they requested of them and the CEO of
AOL granted all of them right on the
spot Bam Bam Bam Bam and that was all
out of an investment forum for them and
they have others and there’s a lot of
them online and some of which are on
cable television but it’s something you
can’t overlook and you should look at
very very closely but you’ve got to have
some ability to speak in front of people
you have your communication skills have
to be better and at this particular
Investment Forum on Bloomberg they
actually allow you time where they teach
you how to give presentations better and
they improve on your presentation skills
but it’s it’s it’s a great program and
investment forms work very very well
okay after investment forms and these
are listened to no priority is what’s
best what’s not in the old days I mean
these weren’t all all online but there’s
leasing you can lease and get money from
leasing companies depending if your
industry is a fit either directly or
indirectly with their model and if your
structure follows their strategy and
remember structure follow strategy you
can get financing from leasing companies
and
but almost 100% of the time you have to
be in line with their business model but
I mean for example I believe virtually
all the manufacturing companies have
leasing companies some of the high tech
companies have leasing companies now one
of my favorites because I’m a minority
notwithstanding you mean I think I’m a
blue-eyed Hispanic minorities and women
and now they’ve got him for one-eyed
veterans you know disabled veterans
disabled women Native Americans the
which is American Indians you know what
they used to call Eskimos but now
they’re Alaskan Native Americans the
same in Canada the there’s all kinds of
different again forms not in the sense
of the Investment Forum I just talked
about but if you’re a woman and your end
or a minority black Hispanic Asian you
name it and the United States and to a
lesser extent I believe in the UK you
can get money and in some cases you know
I’m a veteran of the Vietnam era
Aminah and I am a minority I’m Hispanic
have I teamed up with a Native American
woman I be a benefactor a beneficiary of
that if our other partner was a disabled
veteran I mean it’s almost endless the
permutations the combinations but
there’s a lot of these and you can just
type in minority or women investments
and you can find countless there used to
be a couple shows on on lot and not
excuse me now online on television I
don’t know if they’re still in existence
but there certainly are many many
websites that you can go to now at this
juncture you’re not going to just go to
one and find it if you find it you’ll be
very fortunate you’re going to have to
go through all these and fortunately
you’re not having to wear out shoe
leather like I used to where you’re
going knocking on doors you can do by
Internet
but if you think sending one email to
these guys or any of the ones that I’m
going to talk about in this podcast
you’re crazy
you’re going to have to you know the
greasy wheel or the noisy wheel gets the
grease so you’re going to have to you
know send countless emails to all of
these and follow up with a phone call
and if you think that you’re going to be
able to followup with a tweet or
whatever you’re wrong
but I like the minority and women
category not because I want minority to
the best of my knowledge I’ve never been
the beneficiary of any minority loan the
ice ever certainly never applied that I
know of on a minority basis and most
people don’t even know my minority when
I fill out the paperwork because I don’t
put the Tildy over the end because I
don’t know how to do that on a
typewriter or email I know some of my
staff know how to do it so they think
I’m Penna in Scotland they still think
I’m Dan Penna they think it’s all one
name but you know use the leverage that
you have professionally there’s nothing
wrong with that that’s why they’re there
okay television well I already I alluded
the television when I was talking about
the Bloomberg program and the shark tank
etc and but I consider that in addition
I consider it a an investment form but
there’s a there’s a lot of them and the
television and when I say television is
normally cable it’s not ABC CBS although
I’m I’m hoping that my reality shall get
a little plug here is on mainstream
television not just cable we’ll see what
happens
but we’re early days that hasn’t come to
fruition yet and we’re still in the
reviewing process but television has
opened up Pandora’s box to investment
for would-be entrepreneurs there’s a lot
a lot of
leverage that you can gain from
television but it’s mostly cable TV okay
of course now there’s online resources
holy shit I mean there are I don’t
office millions but I mean there’s tens
of thousands of online resources whether
it’s an accounting firm that says they
can raise money whether it’s a private
equity firm that says they can raise
money whether it’s a commercial bank
that says they do raise money whether
it’s a pension fund whether it’s an
insurance company you can find these all
online the and in the old days before
online became prevalent I mean the used
to belong it used to look in books used
to go to the libraries or I used to hire
graduate students to do my research for
me and the the graduate students did a
great job and the but now you can still
hire a graduate student but now they’re
doing it online okay
publications and software there are
software programs more than I’ve had
gray hair on my beard there are
publications more than I’ve got pores in
my body online there are more ebooks
there are more DVDs and CDs I have a you
know all my stuff is online and so it’s
a publication and I’m not telling you to
read them or subscribe to them to learn
how to raise money or how do you get the
fucking money I’m telling you there are
publications that tell you the federal
government has got a contract letting
for February 2015 and XYZ that’s what
I’m talking about
there’s software that you can buy that
tells you how to utilize other public
publications there’s software that you
can buy that tells you how to approach
governments for contracts there’s
software to buy that you can actually
allegedly tells you how to get money now
I’ve never seen any of the software
programs that ever raised any money but
there are software programs if that
makes you feel more comfortable so I
don’t know if there’s a million
publications and software applications
but I’d be surprised if there weren’t
that many and not last but not least and
that I’m going to talk some more B C’s a
private equity and it should also say
hedge funds venture capitalists this is
all part of the same group and they’re
basically guys that have raised money
from the public that have are got on a
seven-year program from the time that
the fund open to the time that they want
to exit the fund where they are not
guaranteeing but they’re more or less
promising a certain rate of return ROI
on the investment to the people that put
the money up into the fund and the
people that are running the money for
that they raised to these investors get
normally it used to be two percent of
the equity value that’s paid to them
yearly plus a twenty percent of the
profit at some hurdle rate or some rate
of return rate now two percent isn’t the
going rate maybe it’s one percent
depending on the size of the fine it
could be even less than one percent they
get real money that the VC guys get the
KK R’s of this world are determined by
the 20 percent of the profit that they
make at some guaranteed hurdle rate
there are hundreds of billions of
dollars in this private equity market VC
hedge fund market by definition
headphones are more aggressive you know
they invest in movies they do a lot of
the invest in gold silver they take
higher risk and when you the investor
puts his money up or her money up into
the private the hedge fund arena they
realize there’s more risk associated
with it but there’s also more return
associated with it and you know in a
hedge fund getting at
thirty forty fifty six percent 60% way
to return a year through the life of the
of the fund isn’t that unusual there are
private equity funds that are for more
or less widows and orphans there’s
private equity funds that are for just
institutions so this whole gamut from A
to Z of risk and they’re so and you need
to associate what’s your own personal
risk profile I’m talking about as an
investor but by the same token you go to
the people that I’ve just described
depending on what your own risk profile
is in their eyes if you want to be a
commodity trader you’re not going to be
going to an individual venture
capitalist or private equity firm that
is in a low risk profile you’re going to
be wanting to go to a hedge fund that’s
in a high risk profile if you’re in the
middle of the road you know you’ll
you’ll gauge it now insurance companies
have big investment portfolios and now
more so in the last 10 or 20 years
virtually all the big investment houses
are owned by insurance companies not all
but many of them are owned by insurance
companies so I mean insurance companies
they’ll have their own private fund
Allianz has a private equity fund
Siemens even has a private equity fund
General Motors has a private equity fund
so they have now you know opened up
Pandora’s Box these the V risk profile
and but remember now and I haven’t even
talked about commercial banks yet but
VCS in the private equity arena take a
bigger chunk of your dream they’re going
to put in X millions or X hundreds of
thousands or X tens of millions and
they’re going to say that we have 60 or
70% of the business and a
bricks-and-mortar deal that you may be
able to clawback meaning you can earn
back where you’re not relegated to test
10 20 30 % some of you that will be
distasteful to I say do whatever it
takes
it’s a moral legal and ethical to get
the first deal done but if you don’t
want to be have to give up those kinds
of equity portions then you go to the
lesser
not the lesser in number but the lesser
onerous that they put on you the
requirements on you you want I’m sure
you want the money to give a five
percent of your company or ten percent
of your company or twenty percent of
your company but I’ve said ad nauseam
until I’m blue in the face I rather have
40 percent of a billion dollar company
than a hundred percent of a ten or
fifteen or twenty million dollar company
but remember you go to the private
equity the hedge funds they’re going to
take more of your ass so to speak
now all the above that I’ve just talked
about are going to want to put up money
and get a rate of return and I haven’t I
haven’t talked about crowdfunding and I
haven’t talked about commercial banks
yet you may get fortunate where they’re
going to take just a small portion but
no matter what kind of equity position
they want they may or may not allow you
to clawback or earn back so you get back
to you know equilibrium you might say so
you’ve got more than 50 percent what is
important to remember is that no matter
how much or how little equity they take
virtually all the above are going to
want to return on their investment while
they you’re using their money and they
will normally associate some interest
rate on the money even if it’s an equity
so if they put in equity you you may
delude yourself into thinking well I
don’t have to pay interest on the money
well you may not have to pay interest on
the money on a daily or weekly or
monthly basis but I assure you it’s
going to accrue they want 8% on their
money they want nine percent of their
money they want ten percent on the money
and right now you can only get one two
percent on your money in the bank so
that may not be payable but once a year
it may not be payable until you exit
which is I don’t I don’t like that
because then you don’t you don’t have to
be burdened with quarterly or yearly
interest payments but you’re going to
have to pay in almost all cases some
interest in addition to your equity you
give up now let’s talk about commercial
banks commercial banks is where I tell
you to go first you may you know you may
be able to get it from a commercial bank
and commercial bank meaning debt or
whereas my European mentees would call
it gap I would rather be paying just get
dep and I’ve paid some interest on that
debt then give up equity the commercial
banks are going to take the project and
all these people are going to take the
project as collateral okay they may also
want a secondary or tertiary method of
collateralization that means you if
you’ve got other assets you’ve got
another company your house your cars
aren’t worth enough unless you’ve got
some really expensive cars and your
firstborn
that’s that’s just the way it is and in
almost all cases are going to want a
personal guarantor even though I said
the beginning of this podcast a
guarantor is a fool with a pen but to
get the deal done your first deal
doesn’t mean you have to do it all the
time you scream and yell I’m not going
to do this I’m not going to do that
rather than you cry you bleed to your
eyes but then you give your personal
guarantee that’s not your dream team’s
guarantee and again your dream team
isn’t being recruited to put up money
and when they ask you why isn’t Dan Pena
why is and Joe Schmo putting up money in
this deal because we recruited him to be
on our dream team on our board of
directors not because of the money that
he could put him but because of the time
that he’s going to give us and mr. Pena
in my particular case mr. Pena’s time is
worth more than any check II good
writers which is true okay so they’re
all going to look for those different
sources of guarantees now the rate of
return is negotiable whether they’re
going to get 6% on the money or 8% on
the money
the most important thing is to push it
out as far as you can you don’t want to
make interest payments on any loan a
commercial bank or anybody gives you
until way far out I like at least three
years the best is at exit when you exit
you know when you can accumulate all the
interest and will pay it then okay now
back into the commercial bank the
commercial bank in recent years also
will ask you most likely for an equity
kicker if they really like your deal
they’re going to say gee mr. doofus we
like this deal we’re going to do the
credit they call them credits but we
like an equity quicker meaning that we
want 10% of the deal they may ask for
10% of the deal and preferred stock or
preferential shares but they may ask for
that now if they ask for preferential
ownership that means because they like
the deal and they want to increase their
rate of return in their portfolio a
blended rate they may be only getting 8%
on the credit but if they get a deal
that’s got a 30 40 50 percent return on
investment that would increase that rate
of return significantly geometrically or
quantumly pun intended so don’t think
that just if you do the commercial route
that you’re going to not be diluted but
the good news is the equity kicker is at
exit almost always that exit so that
means you only have to give them part of
the company if you’re successful and if
you’re not successful you know who gives
a shit you know who gives a shit let me
jump over to a crowdfunding crowdfunding
is very both very popular and it’s one
of the ways that I’ve suggested some
mentees that have big-time credit
problems to fund that have a reasonable
deal a good deal and they have a
reasonable Board of Directors and they
have the ability to still they have a
good name and they have some sort of
following that’s where crowdfunding can
come in movies are a crowdfunded now Tom
Cruise I don’t know if he’s done it
Kruse Ben Affleck Joe Joe low Jennifer
Lopez and those kind of people of that
elk can do crowdfunding you know I
ostensibly could do crowdfunding I have
nothing to crowdfund over but I could
some of my mentees that are in the
entertainment business that have quality
boards that have been very successful
could in theory do crowdfunding I like
crowdfunding I haven’t seen it have a
successful exit yet if it has had a
successful exit I haven’t seen one
doesn’t mean there aren’t any but that’s
not my arena and that’s not something
that I focus on now I’ve covered a
number of points the you know how do you
get the fucking money you know it’s not
that hard if you stay focused committed
you put a quality dream team together
and you’ve got a great anchor chairman
I’m telling you it’s not the money it’s
the deal you find the right deal and
even if you don’t find the right so
right deal in the eyes of the world you
find the right deal for you and your
passion you’re going to be able to find
the finance you know just as I made the
guarantee back in the mid in late 90s
and into the early 2000s if you make two
different financial presentations and
just look at all the the alternatives
I’ve given you a week only two a week I
used to give three for Day three for a
day and we always funded and if you do
two a week you’ll find the money there’s
no question about that
again I’ve covered a lot of
possibilities
the I can’t emphasize enough I know it
sounds sounds strange because you’ve
been grown up and being an entrepreneur
or in life not hearing that it’s hard to
get the money it’s not but anyway we’ll
have other special topics in the future
I hope you enjoyed how to get the
fucking money but peace and God bless
you

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