Shayne Glass
speaker
667 appearances
2 recordings
1 series
first heard Mar 2025
last heard Apr 2025
Shayne Glass’s voice in public audio — every appearance, attributed to the second.
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in the construction world with your bonding company you're not going to switch your bonding company you've done a lot of vetting beforehand um so for us we the financial review is done annually but like right now we have a we have a sizable project uh that's about seven and a half to eight million and we have in we have internal financial statements um our review is not ready
And the bonding companies go with that.
They take on, they know I'm a CPA.
They know it's very unlikely that there are going to be adjustments to the numbers.
So they, um, they feel they'll, they'll release, they have no problem taking those numbers and working with them.
And then if there is a revision, um, you know, there'll be aware of it and something with the financials, but, um, but yeah, so that's, uh,
We'll get bonds throughout the year, but they do their review process after the financials are released typically.
And then they'll look at based on the strength of the company and what your capacity can be based on the history that you performed over the past year.
Has anything really changed?
So, yeah.
Okay.
Cool.
I would say it, it would be fair to say that it would be a smaller business on generally, but
not necessarily because it kind of depends on the type of work they're doing like you could have a remodeler or like i'll use our restoration company for example they don't we are the third largest restoration company with the franchise that we're in rainbow rainbow restoration in the entire nation we're not huge as far as compared to our other companies but to that industry we're huge uh for the size and what we're performing and so um but we have no bonding required
in that world but the size of the project so really what we're talking about is the size of the project so we can do a whole bunch of really small projects and gain volume whereas in premiere we're not doing tons of volume rainbow will do probably 450 to 500 jobs in a year premier's probably doing
40 to 50 and I would say the largest of them are going to be anywhere from 4 to 8 million dollar projects.
It's more of a size of a project then but obviously the bigger projects you do I would say that's where the bonding comes in and they're generally going to be larger general contractors at that point.
So the financial review is really what they go by.
But to get to a point where you have an independent accounting firm reviewing your financials and kind of putting their stamp on it or saying that they're basically what a review is for someone that doesn't know is they're basically saying your financial statements are free from
accepted accounting principles.
Showing 441–460 of 667 · page 23 of 34
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