I agree with all of your points. However, the 'company' having $8 million in the bank does not mean that the 'founder' has or will ever have $1 million.
The expectation of funding is that it is spent growing the company (employees, inventory, etc), not immediately paid out to the founders.
The expectation of funding is that it is spent growing the company (employees, inventory, etc), not immediately paid out to the founders.