Last month the the company that processes insurance payments for Therapy Notes was hacked. We got hardly any insurance payments as a company until the last Wednesday of the month. Brandon, Melany and Valerie worked countless hours figuring out how to file the claims. Finally, toward the end of the month it appeared both Therapy Notes and our team figured out how to process payments and we finally got paid some. However, we still needed to figure out how to post those payments to the clients' accounts in Therapy Notes so our therapists could get paid. Stephanie Newman, our bookkeeper, was trying to figure this out at month end.
Meanwhile, I sought out credit from Edward Jones ($100K) and First Interstate Bank ($200K) in case we needed it. By the end of the month it looked like we might be home free, especially if we get the lion's share of the payments next week. Mary Sue and I loaned $50K to the company to cover state taxes, 401K contributions and rent for March. Hopefully, the company can pay us back in full within a month or two. This $50k is reflected in the "Bonds" section of our networth record for this month.
MS and I went to Kelsey's State Tournament game in Maple Grove, MN and stayed two nights in a motel with Sean, Emilie and Kelsey and her friend. We gave $5000 to Kiley so she could get a car for her college that will be switching to NDSU in the fall. She bought a 2015 Ford Escort with 162K on it.
We drove to Brandon and Philly's for Easter dinner after I played guitar in the worship service at church along with the orchestra and choir. Sean, Emilie and Kelsey were also there.
This month we also gave Jeff $4300 to buy a new Apple Air as he walked out on his job for the final time after extreme verbal abuse from his boss' hired General Manager. Jeff is now setting up his own onsite dinner business, lessons and consulting on new restaurants. We loaned him $25K from Fritz Inheritance to get that started.
I started Physical Therapy for my ankle as I'd broke my Achilles last month playing basketball for 5 seconds. I also bought a new Fender Strat guitar when Musician's Friend called me while I was laid up.
The DOW is up 4.7% for the year but down 1.3% in March. With the stock market up, our net worth hit $2.2 million for the first time. |