Does the company have no corporate overhead, all costs are allocated to the stores? We couldn’t find any overhead expense section. 

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Category: Financial Model Specifics

Yes, this is correct. In the historical financials, they have reported for Gilbert as one entity and Chandler / Scottsdale at one entity. All costs are allocated to each entity and there are no overheads identified. In our financial model forecasts we are looking at things on a consolidated basis and have allocated the appropriate headcount (COO, portion of MD time devoted to clinical oversight, searcher salaries) as corporate overhead expenses. 

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