Third Bench Inc (THBD)

[tigerpac]

Here is how Fair makes his money:

NOTE 18- INTERCOMPANY TRANSACTIONS
The Subsidiary Companies have very little activity among one another. Each Subsidiary pays or accrues
a management fee to Third Bench Holdings LLC and settles those obligations as working capital permits.
The Seller loan from the acquisition of Sher-wood Fine Wood Design is recorded on the books of Las
Cruces Cabinets and is reimbursed by Third Bench Holdings LLC. On occasion either Third Bench
Holdings LLC or one of the Equity holders may advance the Subsidiaries money’s for short-term working
capital. Such amounts paid by members that are not included in the consolidated financial statements
are reflected in the member notes in the Current Liabilities of the Consolidated Balance Sheet. All other
related party activity between the Consolidated Entities has been eliminated from the financial statements
in the Consolidating of the financial statements.

They even have a deal with their "accountant", Laurence Ditkoff who just happens to work at Southridge Family Office, a company owned by none other than Stephen Hicks.

https://southridge.com/

Laurence J. Ditkoff is the Director of Research at Southridge and is responsible for advising portfolio companies on financial matters including restructuring, financial modeling, accounting and audit preparation.

Issuance of Debt
Effective November 1, the Company entered into a consulting arrangement for $7,500 per
month. Services to be provided include financial statement preparation, providing support
for regulatory filings including the Regulation A financing and preparing financial analysis
work to assist the Company in raising capital efficiently amongst other items.
Effective March 1, 2022, the entire liability was placed into a note. The note was for five
months of services, totaling $50,000. The note bears interest at 10%.

Also some more history on Hicks and NECA.

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