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Old 01-21-2005, 09:04 PM
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I have been through the general ledger for the business and the accountants report for the last three years. If they are cooking the books, I dont see how.

The reason that the guy wants to sell his half is because he just built a new house that has cost him alot more than he planned. He said that he needs cash in hand to get some things paid for. He owns three other therapy clinics that is his main business. This fitness center was bought by him and a doctor with plans of integrating it into his existing business. In three years it has not happened and he is just looking to get the money back out and move on. He said he just does not have the time on top of his clinics.

The guys that own the fitness center and the clinics are my wifes bosses. This is a guy that paid my wife for three months when she was off having our son and staying at home with him. And the same guy who gives her time off to go to chemotherapy with her father, who is dieing of cancer, and then does not charge it to her paid time off. He is not a guy who is looking to screw us over as far as I can see. The guy who would be staying in as a partner is the other partner and my wifes other boss.

I really cant explain why the numbers dont make sense, but I cant find anything that does not make sense. The guy who would stay in as a partner just bought the other half a few months ago. He has told me the same thing that the guy selling it has told me as far as the books. He said he has gotten enough out to pay his payment on a 100% loan for his half.

I plan on going to talk to the bank and to the accountant that has been doing the books for the fitness center. If everything at the bank lines up to make it a go, I will definately be doing more digging and spend time combing through things to make sure all is as stated.

Thanks for all the input, and keep it coming. I want to hear the bad now before it is a problem.

Chris
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