Sam Eitzen

Gosh, I honestly can't remember.

It was pretty brutal.

We refunded maybe 50 to 70,000.

We had a ton of other cancellations where we were going to be getting paid and that just dropped.

So it was like a combination of us refunding

like payments we thought were going to be coming in not coming in and then future sales deals in the pipeline basically just vanishing and so over the it wasn't that we had this money in the bank and all of it went it was that a bunch of it went and then nothing came in yeah so true or false i mean your cash balance after refunds you had about 600 grand to work with the executive pivot in something under 30 days

Less because of payroll was so high and we didn't let anyone go at that point in time.

We've had to let two people out of the 17 go since then.

And we also have a PPP loan granted to us.

If we if those things hadn't happened, we'd be looking at maybe 250K left.

I'm 50-50 with my brother.

I mean, it was tough because first off the 700 that we'd saved up was truly our life savings.

It wasn't so much like,

yeah we were probably not the best like strategic thinkers when it came to how to use that cash and so we'd let it pile up thinking we're going to hire and expand the problem is we didn't have a great plan to do it so it was very difficult to see a lot of our personal future all of a sudden shrink and shrink and shrink that was like an emotionally difficult time for both of us as founders but we decided we are going to make this through we're going to not just survive but we want to actually build during this time

And that's kind of what we pitch to the team.

Yes, obviously the goal is survival.

If we survive this thing as a company that's 100% reliant on in-person events, that will be a huge win because there will be a lot of competitors and other people that we used to, say, lose bids to that will not survive.

And that's the sad reality of the events industry right now and many others, to be honest.

And then beyond that, we didn't just want to survive perpetually for X amount of months into the future.

We really wanted to try to reinvent ourselves and grow something and do things that when events, if events come back like they did, we'd actually be better positioned to serve people, get even more clients, have even greater products.