Surviving a 2-Month Revenue Freeze in Year 1

They ended up being my sole investor by way of that choice because of all that, as you said, they provided for me. Yes.

Let's hear about the business itself.

um and and we we serve exclusively veterans um we we we position ourselves in the way of helping veterans understand that you know we are unique to you and most of our providers are veterans either by way of service or affiliation whether it's a spouse a brother a son or have worked exclusively or really intensively with veterans

And in the case of associates that are newly minted in their way of becoming a therapist or a full-time clinical provider, they have an active interest. So there's an alignment journey that we undertake before we bring on a provider. So that said, we are a mental health provider and we service exclusively veterans as part of the TRICARE Community Care Network.

So it's called CCN. By way of understanding, TRICARE, TriWest... And Humana Military are the two providers of health care benefits, third party administrators for veterans. So in essence, those are your two revenue doors as it relates to being a provider exclusively to veterans.

um at veterans room so i believe by the end of this year will be well over 55 providers serving well well over a thousand veterans um and we've been you know at acquisition we were at 700 so we've grown and we're growing and and as a result of that we're constantly changing systems um changing optimizing our systems to help us work better but we we provide mental health support to exclusively…

And we say that we understand the journey that got them there. And we just want to provide that pathway to healing for them to reclaim the life that they want in the way that they want it.

Great. We're going to get into the business much more. Give us the bullet points on the numbers around the business when you found it. And then let's hear how you structured your deal to acquire it, please.

we were able to kind of shortcut a lot of the negotiations and we just married on what value they were looking to get. And in that sense, it was about four times their EBITDA at the time. And the business itself was priced at 1.6 million.

$1.6 million was what we acquired the business for. And the way that the deal was structured, it was a combination of SBA and new majority capital being an investor. So new majority owned a certain percentage.

um of of the business um i i can say because i talked about equity and it's important so new majority capital owns 11 of the business and i and i do my subsidiary own 89 of the business and there's also a seller finance component as well that that was structured into that and yeah and then my own personal funds to support working capital um as well as you know just the the whole acquisition…