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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Appearances
everything flows up and and we can control uh cash flow across all the entities very seamlessly easily um at whenever and however it's needed um so that's been awesome but yeah so there's a lot of history there uh we have a market that doesn't really fit in construction that started in 2015 i think that flexi holdings is what owns the facility where prefabs at
So we have all this stuff going on, but it's important to maintain quality, auditable records that an outside accounting firm or someone that needs to look at the numbers can look at them in a way that, yep, this makes sense.
It's accurate.
So we can look at a consolidated financial statement and understand that this is telling the whole picture of SHROC.
But we can also drill into each entity independently and know what makes up the whole divided and divided out.
So for us, we have three entities that we do.
We have independently reviewed financial statements for.
and a variable interest entity, which is Flexi Holdings, because they, they have space, the space that two of the companies, well, actually all three of the companies are in.
So then, yeah, so we, we got the, we've got it figured out now.
It took a little bit and when I came here, we had payroll with different people back and forth between, and, but it's important while we're, and this was something Joseph and I talked about early on, even though the,
maintaining independence is important financially it's equally or actually it's probably more important to not let that get in the way of sharing resources so so if we have comp if we have company b slow company a can send guys over there or girls whoever's doing work wherever and uh and they're just filling in and all of a sudden they're on the same payroll but we have ways of tracking intercompany transactions
and making sure the job costing is handled the way it needs to be.
So we never, Joseph's never laid anybody off in construction that's unheard of, even through the 09.
He's never laid anyone off ever.
And that's because we can share resources between all the entities, you know, with different types.
It might not be exactly what they want to do, but it's usually short term, a week or two, and it gets them work and it works out really well.
we have to have certain people in certain positions that know enough about what's going on between the entities that you can you can understand what needs to go where and how and it's all over the place so this is not even though so like everything about what we do is hard and i'm not saying that as a bragging point but like when you get into multi-entity um
not just the reporting, but the running of multiple entities is hard.
You know, one entity is hard enough.
So you run into stuff like when I work on, I personally do all the intercompany labor between all the entities.
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