“How much?!” Steven exclaimed, “Where did you get £720,000 from? Have you got more where that came from?”
Edward said he obtained the money from his career in finance, with an additional £700,000 from investors, but other than that, he did not have any further funds – showing how much faith he had placed in his company.
“That’s either stupidity or genius!” Steven remarked.
Edward continued: “Numbers are my game. I’m not someone that is going to say I’m not a business person. In our fourth year we are expecting £5.6million.”
Peter turned his nose up at the figures, suggesting profitability was too far away, but the pair insisted the business was profitable now, but marginally at only £2,000 earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs (EBITDAR) – the net profit of a company.