That is a poor analogy my friend. The difference between equity in a home and business is misleading in that the acquired business's are producing revenue whereas a home would not be under normal circumstances. Question that would be relevant would be is the acquired business generating revenue, profits? How much debt is attributed to the business, what is the ratio of debt versus annual net profits? If the companies that ECIG purchased can be paid off in a matter of 5 to 6 years through profits generated that is a darn good business model.
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