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[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed as Answered] Complaint: [redacted] I am rejecting this response because:The document they provided - which was supposed to help me sell my business for the best price - was very amateurish to say the least Having said this I don't want to waste anymore time with this so please do not ask for a response from them Regards, [redacted]

Introduction to Prime InvestmentsPrime Investments, LLC is a business brokerage/mergers and acquisitions ("M&A") firm that is engaged in the business of selling businesses for owners who want to retire, move on to other opportunities or just "cash out" of their business.Prime's principals are...

Don N[redacted], a non-practicing attorney who has been in the business that, sales Bill industry was a for successful 30 years business and Bill B[redacted], entrepreneur who and has banker.Unlike most "main street" business brokers, Prime focuses not on small retail businesses, but time on professional Prime has garnered "B to B" type an excellent businesses. reputation Prime has among been business in existence owners for and L6 years. buyers, During attorneys, that accountants and bankers. We live by our reputation, and the referrals from business owners and professionals who have had prior good experience with our firm.Until we received the complaint from Jim Lester on January 27, 2016, Prime had never received a complaint of any kind (and has never been sued).Prime's "No Up-front Fee" Business ModelMost M&A firms charge various fees to their client to get started. There can be a valuation fee of $3-$5K, a "packaging fee" (writing the prospectus) of $20K-$50K, and even monthly retainers of several thousand dollars. Unlike most firms in the M&A world, Prime does not charge any up-front fees or retainers. Rather, Prime relies solely for its compensation on a "success fee" - a percentage of the sale price earned when the business is actually sold. If the business doesn't sell, Prime earns nothing and there is no charge to the client (the business owner).It normally takes 6 months to 1 year to sell a business. The process is very complicated and requires a huge amount of work. In order for Prime's "no up-front fee" model to be viable, Prime needs the client to be committed to the sales process for a period of one year. This gives Prime the time to make the sale, earn the success fee and recoup the costs (both in time and in out of pocket costs) that it has invented in the project. Accordingly, our Broker Agreements are exclusive and irrevocable for the one-year term of the listing. That being said, our Agreements do have an "escape clause" allowing the client to cancel the Agreement within 3 days of signing. With no adverse effects. If, however, the client takes the business off the market or obstructs the sale of the business during the term of the listing, he owes Prime its Minimum Commision, defined in the contract as the sum of $50,000. All of this is clearly stated in the Broker Agreement, which [redacted] agreed to and signed (copy attached).The Situation[redacted] first contacted Prime Investments in July of 2016. He wanted to talk to us about selling his business. He had recently contracted with another broker but, after a few months, became dissatisfied with that broker and fired him. After some discussion and the signing of Confidentiality Agreement, [redacted] came to a meeting at our offices August 1,,201,6. At the meeting we discussed his business, our sales process and showed him examples of several prospectuses we had written for other clients whose businesses we had sold. Apparently satisfied with what he had seen and us with the financial information we heard, [redacted] proceeded to the next step - providing us with the financial information we needed to conduct an appraisal of his business.The appraisal process took quite a while to finish. A number of questions arose from our examining the data provided and additional information had to be provided by [redacted]'s accountant. When the work was finally finished, we contacted [redacted] and told him that we believed that the business had a market value higher than the $1.5 million his prior broker had concluded the business was worth. We had concluded that the business was worth between $1.7 million and $1.75 million. With this good news, [redacted] came back to our office for a second meeting and gave us the go-ahead to send us our Broker Agreement for his review. Before he would sign, however, he wanted us to send him some referrals of prior deals. We sent him a list of referrals. After waiting a few days to see if he was going to win a large bid that was about to be awarded - PAI did not win the award - [redacted] signed the Broker Agreement on September 30, 2016.On October 2, 2016 we sent [redacted] our request for information needed to write our prospectus. [redacted] sent us the requested information in piecemeal fashion through October and most of November. We finished our draft prospectus on November 23'd, and sent it to [redacted] for his review. On December 12 we received an email from [redacted] wherein he expressed his dissatisfaction with our efforts (attached). We responded on the same day, defending our work and suggesting a path forward (attached), In a telephone call on Friday, January 6,2017, [redacted] informed us that he was ending our engagement. On January 13, 2017, citing his breach of contract, our attorney sent [redacted] a letter demanding payment of our $50,000.00 Minimum Commission. We believe that [redacted]'s complaint has no merit either in fact or in law and ask that vour office find that [redacted] indeed owes us $S0,000.00Sincerely,Donald *. N[redacted], Prime Investments,

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
 Complaint: [redacted]
I am rejecting this response because:The document they provided - which was supposed to help me sell my business for the best price - was very amateurish to say the least.  Having said this I don't want to waste anymore time with this so please do not ask for a response from them.
Regards,
[redacted]

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Address: 12505 Park Potomac Avenue 6th Floor, Potomac, Maryland, United States, 20854

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