Goddamn, I wish I knew about this 3 years ago when I did the exact same thing as the OP. I ended up paying the penalty and everything. Although now, three years later we are profitable[1], have 15 employees and never taken a cent from outside investors. So no regrets here.

[1] I should mention that we're a business, not a startup by PG's definition, and were bringing in revenue from day 1.