Due to my understanding, in such financing the SAFE would convert to 1% and dilute common. Going from there, the VC investment is calculated, which dilutes both, common and SAFE-preferred.

https://handbook.clerky.com/fundraising/safes-and-others states "If someone invests $1 million through a safe with a $10 million valuation cap, the safe will never convert into a number of shares that represent less than 10% of the company prior to the preferred stock financing." To my understanding, the above SAFE would only convert to a higher percentage if the pre-valuation was lower than the cap.

When I plug the numbers into https://angelcalc.com/model?new I see 0.9901% for the SAFE. It seems the tool dilutes both, common and SAFE holders. When I enter a second similar SAFE, the pre-valuation goes down to 0.9804% for each of the SAFEs. Shouldn't the SAFEs be constant and not influence each other?

Now let's try https://safegenie.io/ and it gives me 1.23% for the SAFE for most numbers of shares (I used 10,000,000 in all tools). This is wild, and possibly wrong in face of clerky.com above.

Now I am using https://captable.io/ and it gives me 0.85% despite the form looks the same and seems to be from the same people as safegenie.io.

Are all 3 tools wrong? Any expert shed light, please?