John Younger

And so it occurred to me that to separate out the companies we wanted to end up with, the final state would be two companies with a completely flat cap table.

So everything's common shares.

So to do that, we issued notes to the preferred shareholders and the warrant holders.

So that created a note and transferred their stock to all common shares.

And then the new company was created by assuming some portion of those preferred notes.

So the acquiring company was able to basically buy the assets, in this case of the recruitment process outsourcing business, with no cash out, but simply by assuming notes.

So the end result was HireMojo has the original corporate structure, but all common shares.

Ecolo Business Services exists and is all flat from an ownership standpoint.

And all this was done in a way that was tax neutral.

Because they're getting paid back, whereas before there was no guarantee of getting paid back.

Well, they lose their preferred rights, but they start getting cash back.

That's right.

And they were willing to do that.

Well, let me tell you what it is first, and I'll tell you the model.

So it's really a platform that makes it possible for almost anyone without any recruiting talent or skill to fill jobs.

So that in itself is remarkable.

So we incorporate this robot and all of the premium for-fee sites that you would typically pay a lot of money to.

I don't want to say their names because I want to be careful about branding issues.

But if you want to link to something, you can do that through us.

And if you feel like you've got to deal with the monsters under your bed, you can probably do that with us too.