Is your loan to him in writing? Exercise your rights and take over the whole operation.
Keefe John CEO Ethoplex Direct: 262.345.5200 -------------------- Ethoplex Business Internet http://www.ethoplex.com/ Signal Residential Internet http://www.signalisp.com/ https://www.linkedin.com/in/keefejohn/ On Tue, Jul 16, 2019 at 10:15 AM Bill Prince <[email protected]> wrote: > Assuming he even has a business entity to file the UCC against. > > bp > <part15sbs{at}gmail{dot}com> > > > On 7/16/2019 7:55 AM, [email protected] wrote: > > Most small operations don’t have financials, at least not good ones with a > clean balance sheet and income statement. Lots of off balance sheet loans > etc that you cannot see. > > But assuming that they had squeaky clean financials, just go with annual > net profit x5. > Not exactly an ebidta multiple, but close. I am guessing they have zero > net profit each year. > > Start with 5 years of financials and tax returns. If they cannot produce, > run away. But file that UCC no matter what unless you have a promissory > note. Heck even if you do have a promissory note. > > *From:* TJ Trout > *Sent:* Tuesday, July 16, 2019 2:59 AM > *To:* AnimalFarm Microwave Users Group > *Subject:* [AFMUG] Wisp value > > I've been mentoring a friend of mine, he's young and rather ambitious. He > started out his 'wisp' using a residential cable connection, I've helped > him for basically free for the last three years grow his base to 250 > customers, he just last week acquired a failing wisp with 65 subs on a no > money down, pay us a commission basis. I've been managing most of his core > network and providing him IPv4 and transit for a steal of a price, I even > loaned him a substantial amount of cash recently to buy a bunch of surplus > equipment. Well anyway I guess he got caught with another women and his > wife is demanding he shut down or sell the wisp for whatever reason, he > called and put this all on my plate today. > > Instead of offering to sell me the company (I don't really want it) he > tellse that he's going to try selling to a local competitor whom I consider > slightly a better personal than a child molester. > > So anyway I'll try to stop rambling, what's a wisp Worth these days? Gross > revenue for a year is what I figure (max) with his all used ubnt equipment? > > The other dilemma is that he's about 3 months behind on his transit and > his note is due for repayment Monday ~$15k total. > > I need a way to ensure I get paid current and I don't let him get behind > during the 'sale'. I was thinking to quit being the nice guy and demand the > past due balance + the note in full + 3 months transit in advance so I > don't get screwed during the sale process if he gets behind again. I don't > know if he can even come up with the money and my only leverage is to turn > his port down... I have a strange feeling he may try to stall me as long as > possible until the competition can thing in transit and run off without > paying the bill.... > > > Sorry for he rant, just sick of helping people because every time I do I > end up regretting it. > > TJ > > ------------------------------ > -- > AF mailing list > [email protected] > http://af.afmug.com/mailman/listinfo/af_af.afmug.com > > -- > AF mailing list > [email protected] > http://af.afmug.com/mailman/listinfo/af_af.afmug.com >
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