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[Music] [Applause] [Music] [Applause] okay lets get right to it um the first stage of pretty much every acquisition its very rare that you dont have some kind of term sheet letter of intent so-called pre-definitive agreement kind of period where youre either sending an offer and kind of outlining the terms of the sale or actually or even sending a solicitation of a of of a sale instead of an offer or solicitation of an offer i should say and the terms for that sale not just similar to how um real estate transactions work right you you you send the offer and see if it accepts except the difference is typically in a real estate transaction when youre buying a home your realtor or your real estate agent will send an offer with pretty much the purchase agreement and all the terms there and so all the seller has to do is sign in the buyer signs and the contracts are done when it comes to any kind of major acquisition typically you have some kind of writing prior to a enforceable purcha