collectively have decided to sell, off some of their, part of the pie. And that goes to the acquirers and the statics people share. The pie does not increase now, some things about this are the green center of this is the value of the company on January 1st. The red outer rim is the value of the company on December 31st. The company grew in value. We push growth strongly. So a couple of things about that. Hey, look at these static people. Their slice of the pie didn't get any bigger or smaller, but the value of it did grow. Okay. The acquirers are winning doubly, though. They've got to pay tax on the new stuff. They don't have to pay taxes along the way as it grows in value. And the divestors. The investors(??) have certainly, less of the pie, but they got a lot of cash. And if you look outside of that skinny slice with the dashed lines, they also got a growth on the stock they haven't yet sold. So they're doing well in our system, a lot of times investors sell an amount that equals less than the growth of the stock that they were holding. It goes on and on long enough. Perpetual money machine. But at some time we will, you know, manage a little pressure into there and say it's time for you to sell down a little, little more quickly and allow for other people to do this. A comment, if I may. In fact, I'm going to go back. Yeah. About this, just to illustrate how this might get started. Let's say that I have a company and I'm the sole owner of it, and I get these ratios for the company, and the company is worth a, million dollars. On January 1st and December 31st, we've grown 15%. And that million dollars is a million $150. But I haven't, I haven't done that all, by myself. So, what do I do here? You know, Bob, if you'll, if you'll bear up. Look, we, I want to talk to you. Bob. We have done well this year, and you are the reason for much of it. You're serving clients well. You're growing the accounts that you are in. I would like to offer you some ownership in this entity. All right? I would like to give you $25,000 worth of the company. we can work out how many shares there are, but you get $25,000. Are you okay with that? By the way? There is a catch to it. You'll have to pay the tax. 00:25:00 John R. McAdams: On the $25,000. All right. You can adjust your withholdings with the accounting department if you want to so that it's not that big hit next April 15th. But what we feel is right is for you to have $25,000 worth of value. That value will grow and we'll come back next year and perhaps add some more to it. So maybe Bob says, yeah, well, thanks, I'll do that. I'm going to go back. You, know, I just lost $25,000. I'm going to go back to accounting before you get there to adjust your withholdings and I'm going to say cut me a check for $25,000. Okay, so I didn't lose. I'm not sad. I used to own 100%, now I own 99. No, I got $25,000. That's mine. And the tax treatment on that is going to be capital gains, not income tax rates. All right, so the owner gets cash of $25,000. The owner then holds a value not of a million 150, but a million 125. That ain't so bad. And what else does the owner have? The owner has an employee who will stay alright bound to the company. Hey, I'm liking this. The shareholder, the new shareholder does
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