So here's my thought.
I'd love you guys to go inside,
get a feel for the place, and find Sean for me.
I want to get the story from Sean.
And then I'm going to get Mike
and I'm going to get the story from him.
And I want to see if I get the same story.
This place is massive.
The first thing I notice is it's like a country bar
with a bull, with some old shit in the corner,
and it was just enormous and ugly.
Are you Sean? Jon Taffer's outside.
- He wants to talk to you right now. - Okay.
Can I get a watermelon breeze?
- I'll do a beach cucumber. - All right.
- Should we get nachos? - Yeah.
I feel like you judge a place on the nachos.
Jon.
- Good to meet you. - Nice to meet you.
I wanted to bring you out here and get the story from you.
- So when did you open this? - Late summer of 2017.
- Did you bring in investors? - I brought in investors,
but we ended up running out of money.
So what'd you do to get the money?
I went back to the investment group.
They would put in an additional $60,000,
but if we defaulted, I would lose my shares.
So what happened to the $60,000 note?
I lost it.
But they decided I would back away
in exchange for 10% remaining equity.
So, legally right now do you own 10% of this bar or not?
Absolutely, I do.
Mike's interpretation is absolutely I don't.
- Do you get along with your partner? - No.
- You pulling a salary? - No.
So my question to you is can you turn this around?
I believe that I can do this.
I know I can. The problem is is Mike.
All right, Sean. Why don't you go back in and go to work?
Thank you.
Jon: Sean called me to rescue this bar.
But Mike disputes whether Sean even owns any of this bar.
I can't understand who's an owner and who's not.
- Are you Mike? Jon Taffer is outside. - Yes, sir.
He'd like to discreetly speak with you.
- Okay. - Could you go outside for me?
So I'm gonna go talk to Mike
and try to hear his side of the story.
Are you gonna go first?
Oh, my God, it's--
There's just all sour mix.
- Thank you. - Thank you.
How do these nachos look?
This cheese is legit cold.
And it's, like, thick and it's almost grainy.
It's so salty. I never thought you could ( bleep ) up nachos,
but they have successfully screwed up the nachos.
- Pleasure. - Likewise.
Fill me in on this. Were you an investor
when this opened two years ago originally?
Yes. There were six of us originally.
- And who was running it? - Sean. He had full control.
He was in charge of the checkbook.
He was in charge of everything that happened.
Gotcha. So Sean put the deal together.
- Yes. Correct. - Went to you guys.
Now, is there a deal that he gave up his equity
or anything? Tell me that.
On the $60,000 loan we gave him,
he signed a note guaranteeing he would pay back
the 60 grand within a year plus interest.
He never made one payment.
Our note said if you don't make one payment,
you default on 100% of your shares.
So now he defaults,
so now you guys own 100% of the business.
100% Sean put a lot of sweat and time in here,
so we didn't want to take everything.
So we offered to leave him 10%.
You know, trying to be generous. Sean wouldn't sign it.
To this day, he has not signed it.
- So he owns nothing? - He owns zero.
- And is he getting paid? - Yes, I'm paying him.
So he told me that he hasn't gotten paid for a year.
- Is that right? - No.
- So who owns it now? - Me.
- You own 100% of it? - Yes.
Because he just told me he owns 10% of this bar.
Yeah, he tells me, "I own 10%." "Sean, you never signed shit."
He goes, "I disagree. I signed it."
"You never gave it back to us."
He likes walking around acting like he's the owner.
We have to clear this up. Do you agree?
- 100%. - Okay.
I'd like him to see us walk in together
- so he understands we talked. - Okay.
Okay, I've heard both sides of this story,
and Sean's side of the story is not adding up.
I don't think he owns any of this bar.
So I've gotta resolve this issue between him and Mike
before I can even begin rescuing it.
Are you kidding me?
I sat with you and heard a story from you.
- Yeah. - I then sat with Mike
and heard a completely different story.
- Do you own this bar? - Yes, I do.
- You don't own shit, Sean. - I do.
I have the paperwork to prove it.
- You have executed paperwork? - Yes.
- That says you own 10% of this bar? - Yes, absolutely.
- He doesn't have shit. - I've got it in my truck right now.
- You can take a look at it, Jon. - Go get it.
- Go get it. - Let's go.
Mike: It's 100% bullshit.
- I'm Jon, Kenny. Nice to meet you. - Hi. Kenny.
Pleasure. Question, how many times do you hear him
- say he owns the place? - Every single day.
But he doesn't have that authority does he?
No.
- What do you got? - Right here.
Show me an executed document.
My signature, my former partner's signature,
- their managing member's signature. - We've never gotten that.
We never got that back. These are the only
two signatures that were ever on that.
This is the first time I've ever seen Sean's signature on there.
This is the one that says,
"You still have 10% ownership of the business."
- It's not true. - Jon: Tell him!
- You refused to sign it. - Bullshit. I never was given--
Let me ask you this. Did you ever give this back to anyone?
- I didn't get that until-- - Did you give this back to any one of us?
- You gave it to me seven months later. - How long have you been here?
You can't sit there and bark to me about timeframe.
- How long have you been here? - Doesn't matter.
Did you ever give this back to us?
There was never--
Show me where it has a timeframe.
Yes or no, did you ever give it back to him?
No. My attorney told me to hold on to it.
So then they never got an executed document from you.
They did know that it was executed. They did know it was signed.
If they didn't get an executed document from your attorney,
then the contract isn't closed, right?
- They knew that it was-- - Sean, listen to me!
If your attorney never
sent back an executed copy, is it valid?
Is an unexecuted document valid?
- Yes or no? - No.
So then, therefore, is it valid?
I guess not.
So you don't own shit!