I thought it was good until some bank magically gave him 100m based probably on an EBITDA multiple and GSA value when he only had 22 locations. Not sure how a major lender could finance that much, would have had to be on sensitised projections minimal security as premises are leased. Not really a believable transaction maybe if it was a 2nd or 3rd tier lender I’d believe it more (if that). Would need more equity on balance sheet to support metrics