Let me paint the picture. Yr one they did about a million so they owed $50k not $300k in interest only with a debt balance still $2.5 million. Yr two about $2 million in revenue so they owed $100k not $300k in interest and still $2.5 million in debt. Yr four about $5 million and they owed $250k not $300k in interest and still a debt of $2.5 million. Had they not exchanged debt for 5% after 4 yrs they would still owe $2.5 million and would have had to pay $1.2 million in interest instead of about $600k in 5% money and no debt. In the early yrs they saved a ton of money and didn't have the debt hanging over their heads. You can continue and see it was a shrewd move on their part.
Per the sketchy filings, 5% off the top for the TRUST, plus salaries for the Officers and insiders plus franchisees get the major cut from about 25% of the accounts has this one bleeding critically. That is why no audited financials will ever come out.