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“And so their returns on the advertising Went from what they were to half of what they used to be.”

“They were one of our banks, but they never lent us money. We flowed all our credit cards through them. And, ah, they would come to us all the time and ask if we wanted to borrow money from them. We'd say, sure. And, you know, we were the only company they had …”

“The business will do ten million in revenue this year.”

“They haven't made a bank payment or an interest payment since March, and they might not for quite a while.”

“Had a hundred buildings in Chicago, and all the other competitors had raised 20 to eighty million dollars, and they were all based in Chicago, too, but he had the number one market share, and I'm like, how, how is that possible that in their backyard, you're k…”

“We started a negotiation where we were going to pay them. Nineteen million dollars on it. Then they were doing twelve million of revenue. But by the time we close the deal, they were on a Eight million dollar run rate, and they had run out of money, and they c…”

“The VC has put in another three million bucks to fund, so it's not only not making six, they're actually losing money”

“It did not at all. They just viewed it as an enterprise value and, you know, whether they wrote the check to me or the bank didn't matter to them.”

“When I went and asked them for ten million, they laughed at me, but when the new buyer, they, but they could get comfortable with five or six, but when the new buyer came in and said, we want ten million, they had no problem”

“And so we converted the business From a one-time payment to a subscription, and that added two million dollars of revenue overnight. So it went from five million to seven million, and as all that revenue was profit, the business went from losing a million to m…”

“They went from losing money to making two million dollars, and so we were before we bought them, we were you know, a twelve million dollar business making four at this point, and they added they were eight and two now, and so now we were 26, and then we said, …”

“The founders, I may have told you this, went on to take that money and start a billion dollar company called Quest Nutrition.”

“And but the business when I bought it was doing, you know, sort of five Five million losing a million. And even though it was structured as a SAS cloud delivery model, they were only charging a one time fee, though providing service and cloud forever. And so t…”

“Two VCs bought it for forty-five million, and they And the business went from doing fifteen million making six to doing seven million losing three when we bought it.”

“And so we did a deal literally in three weeks because they weren't going to meet payroll.”

“The combination of the dividends and the price was just shy of 50, of just shy of fifty million.”

“It was a New York-based private equity fund called TZP.”

“So the first thing we did is we turned it into a, you know, we made it a renewal, a subscription model, and the revenue increased 40% overnight.”

“And the business was losing money day one, but because of the renewals within a year, it went from losing a million to making a million literally overnight just by that one element.”

“Well, it was total of 12, so there was one million for a couple of years, and then it grew to three, then grew to six, but yes. Correct. Yeah, we took out double what we put in before we sold it.”

“They were doing 50,000 a month when we were negotiating. And the, by the time we closed it, five months later, it was doing a 100,000.”

“I got outbid heavily because they got sold for forty five million to Two VCs. And it was a nice, you know, business doing fifteen million of revenue, making six million of profit.”

“The business grew from seven million, well, I guess five to seven, and then and then and then to 20, you know, last year we did twenty million making six.”

“We had also taken out 12 and a half million of dividends along the way.”

“Well at the time we probably you know, valued it at about ten million. It was doing about four or five million in revenue.”

“We saw an opportunity to change that model, which we did, and very, you know, very quickly, and now renewals makes up, you know, at, you know, 50% of the revenue”

“Probably 75, 25, consumer.”

“We were profitable. We were very profitable. We're, you know, we're dropping 30 plus percent to the bottom line.”

“And there, you know, the churn is, you know, our retention is, you know, like 80%.”

“But at any one time, you know, we probably have a couple 100,000 Consumers, you know, paying us either, you know, monthly, quarterly, or annually. Who have active, active licenses.”

“The corporate side of the business probably has more like 5000 customers.”