Third Bench Inc (THBD)

[Rumplestilskin1]

There were a number of companies they tried to buy and mine was the first after Davis Kitchens. Originally they were proposing a high percentage of cash upfront and a payout over two to three years. They were working with a couple of investor groups that provide high cost funding for highly leveraged transactions. As due diligence was completed, they became part of NECA and wanted to fund the deal through the sale of shares to be issued. I sat across the table from Rees and just laughed. There was no way they could sell the stock at a price that would fund the deal. They went across town to a competitor and that guy threw them out too.