MJBulls 0032 CaShing Out 102 transcript

Dena Jalbert: [00:00:00] Just all these little nuances and some are quite material and said that I think it's going to be that real eye opener for folks and it will help them truly understand why people like me tell them to prepare and start early because there's more to it than you might think.

 

Dan Humiston: [00:00:31] Hello everyone and welcome back to cashing out. Brought to you by Hobin law. It's our new series that follows one cannabis entrepreneurs journey throughout the sale of their company. And as you can tell already the format of this show is going to be way different than are other shows. For one it's going to be Sunday so we have more time. It's going to be way less structured but I know that there's no way you're going to want to listen to me drone on week after week so I have a co host for the show and her name is Dina Jalbert from align business advisory services.

 

Dan Humiston: [00:01:03] Hey Dena.

 

Dena Jalbert: [00:01:04] hey dan you make me sound so much cooler than I am by cohosts so it's pretty neat.

 

Dan Humiston: [00:01:10] Well it's nice to have a cohost for changes that takes the pressure off of me. You may remember Dina she was a guest on one of our previous shows we did a show about mergers and acquisitions. You are based in Florida right.

 

Dena Jalbert: [00:01:23] yes. I founded a business just two years ago were based in Orlando but we're nationwide so we're the country as well.

 

Dan Humiston: [00:01:31] And mergers and acquisitions is your your real specialty. One of the things that you're really known for is mergers and acquisitions and that's why we did a show about them.

 

Dena Jalbert: [00:01:38] Exactly. Yeah. Yet we do both by side and sell side for. So for companies who are looking to acquire businesses we help them do that. And I would say the majority of what we do is working with business owners who are looking to sell or to take in majority capital and we do it in a myriad of industries that cannabis is one of our focus industries if you will that's emerging and there's so much happening in the space. It's crazy.

 

Dan Humiston: [00:02:05] I mean we talk about I talk about in every podcast it's crazy. You wouldn't believe how many people call me to see if being on the show. Let's talk about this this crazy idea that I have that we can follow one company from the time they did make the decision to sell their company until the closing is going to be challenging. What are your thoughts about this.

 

Dena Jalbert: [00:02:25] Yeah you know it certainly will there's so many nuances. You know I really say that every transaction has the same kind of specific milestones or can take steps along the way. But what's interesting is is what happens in between all of those milestones and conversations that you have and the way things can go in and the way you know you might expect something it turns out to be something completely different. Yeah you know I think it's going to be it's going to be a challenge but I also think that it's a really good way for folks to understand the process. It's a really complex process. I would say it takes about a thousand hours to do on average. And so can pulling back onion and letting people see see the details of what happened throughout want to think it's going to be a really great learning experience.

 

Dan Humiston: [00:03:17] You know some folks are considering going through this themselves.

 

Dan Humiston: [00:03:20] Yeah I think the most interesting part is the stuff that happens behind the scenes. I think that's the most interesting part yeah.

 

Dena Jalbert: [00:03:26] It is. It is. Like you said you know you go for some of the same motions and in the end the same documents the same conversations that all the pieces that happened in the middle happened behind the scenes. Those are the really interesting parts and those are always the parts where clients will cause the concern I don't know what you think about this or what we want to do about that or just crazy non compete on what I think are just all these little nuances that some are quite material and that I think it's going to be that real eye opener for folks you know will help them truly understand why people like me tell them to prepare and start early because there's more to it than you might think.

 

Dan Humiston: [00:04:03] challenged doing the show about this is that some of this stuff like you wouldn't want that buyer to know. So we have to be transparent but we also have to be mindful of the fact that we could be ruining the deal for somebody by talking things some stuff that buyers shouldn't. We're not trying to hide anything it's just that sometimes you're like having these second thoughts or you're having stuff that you wouldn't normally share. So we have to be some we have to be mindful of that because we don't want to ruin a deal.

 

Dena Jalbert: [00:04:32] Yeah absolutely. I mean there are things that are proprietary to every transaction and it varies. There's a finesse and a bit of poker if you will to every transaction. So yeah we don't want to give away too much on things that could potentially derail a deal. But I think that just the higher level pivot that happened throughout the process will be still be visible even though you know we may have to REDACTED a bit to protect the parties.

 

Dan Humiston: [00:04:58] Yeah I've a feeling there's going to be a lot of redacting. Hey real quick let's do a little business. I want to do a shout out to one of our sponsors alt 36. They are a payment processing platform that gives dispensaries an option other than cash they use block chain technology so check it out. People over there are awesome. Ken Ramirez and Lauren Murphy super cool people. So check out their Web site. It's alt 36 dot com. So back to our show.

 

Dan Humiston: [00:05:25] I have a lot of people that have volunteered to jump in as experts for us and is going to call in like I have an attorney from Hoben law and Matt Nordgren he's an investor from Arcadian capitol which is a big cannabis fund and he's going to be one of our reoccurring Guest Jim Marty from Bridge West is an accounting person. Who else is going to jump in. So I mean we have some. And there's a bunch of other people that have said yeah yeah I'd love to jump in. So we're going to have him call in and keep it really loose. It's stressful enough as it is.

 

Dena Jalbert: [00:05:57] So we show to be exactly the great every deal you need all of those people. And I always say that you go into any transaction you need your football team and so on from the puppies we like to talk about football. You know everybody has their part to play. Everybody has their position to play. And I think we on the macro level adviser or kind of the quarterback in the middle. Sure everything's working but you need a really good attorney and especially in this space you need a really good CPA especially in the space to understand the tax ramifications and tax considerations not just for business but for the individuals who own the business. And what's your structure. How is it going to work in a whole tax thing.

 

Dena Jalbert: [00:06:44] I think all of us are going to be able to contribute and have some some might turn around and people are going to really see how it does take a village to get through a transaction once we get the village.

 

Dan Humiston: [00:06:54] I'm hoping people will continue with their e-mails because I've got a lot of e-mails a lot of ideas. Yeah. But I think if you know we will even read some of the e-mails that people send to us as suggestions or comments or ideas everybody's feedback welcome. Because again this is going to try to do this as a community effort to help one business get to the finish line. And you know I know I promised everybody that this week we would announce the company but it's been a little bit more complicated than we planned to mark the target a little bit but a little more complicated. But but but the good news is it's locked down. We have a company. It's it's a it's a high profile company that everyone's going to know the name so that will be make it really interesting but just have to wait one more week. We just have a couple of things that we have to take care of before we announce. Just one more week. Everyone can wait. So next Sunday I promise next Sunday we'll do the announcement and we'll kick it right off next Sunday with. We'll start game planning from day one. Day one we started off.

 

Dan Humiston: [00:07:52] So anything anything else you want to add before we sign off today Dina and I have to head off to Vegas to the trade show.

 

Dan Humiston: [00:08:01] So yeah headed off to vegas. I'm sure we'll see many of the folks that are likely listening now. No I'm just really excited to kick you know really kick your off next week I think you are going to have a lot to chat about to build suspense. This is going to be a really good one to watch the have a lot of parts and pieces that are going to use of interest to many. I think it will be great.

 

Dan Humiston: [00:08:24] Well I'm looking forward to working with you and we'll see where it goes. Like I said we're going to adjust along the way. Stay tuned for next week because like I said next week we're going to announce and it should be exciting from there so everyone have a good week.

 

[00:08:40] Thanks everyone.

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