Most QoE providers live on the income statement. That's exactly where sellers want them. I caught a seller booking rent, travel, phones, and COGS as capital expenditures. All of it buried on the balance sheet to inflate EBITDA from $200K to $600K. This was a marketing company. Growing CapEx lines year over year with no major assets to show for it. That's expense laundering. My client would have paid a multiple on $600K for a business that actually earned $200K. The cash wouldn't have lasted a quarter. If your QoE provider doesn't love the balance sheet, they'll miss the oldest trick in the book. I break down how we caught it in this video: redacted