Investment case for you: would you buy this business?

[australianinvestor]

I just responded to an interesting thread (http://thefastlanetomillions.com/showthread.php?p=28476) in which business valuation was discussed.

I thought it might be worthwhile to give you a simple case where a business is for sale, to see if you'd buy it, and what price you'd pay.

The (fake) case

A widget company based in Somewhereville, USA.

• Income: $20,000 per month from widget sales.
• Expenses: $8,000 per month (salaries, insurance, lease)
• Gross profit: $12,000.

I am purposely making the financials this simple to reduce the complexity of the decision. I am also purposely not posting a balance sheet. Not for this example at least.

EDIT - This is a completely passive business. You are evaluating a going concern, which doesn't require any (mandatory) presence of yours.

The question

1. How much would you pay for this business? Providing this business performed exactly as I described above, every month for the next 25 years, how much would you pay?
I want you to write a number. Just analyse what it would be worth under these conditions.

2. How did you come up with this number?

3. What are the key things you want to know before you'd invest?


I'm looking forward to this, I like working this stuff out. Hopefully you do too!

Daniel.

 

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[australianinvestor]

Tjuamf vjot hu ximm, xuamf zua moli ni vu qutv e nusi dunqmiy, nezci iwip siem-mogi deti sihamesmz?

O vjopl wemaoph opwitvnipvt ot e wovem tlomm vjev piift vu ci fiwimuqif, epf jisi ot e hsiev qmedi vu hiv tuni qsedvodi op.

Fepoim.

 

[biophase]

O jewi e gix raitvoupt. Zua dep'v iwemaevi vji catopitt cetif up ovt nupivesz pancist upmz. Jux nepz juast qis xiil fu O jewi vu qav opvu vjot catopitt?

Ot vjot ep upmopi catopitt? Ot ov siveom? C2C? Pancis ug inqmuziit?

 

[australianinvestor]

O jewi e gix raitvoupt. Zua dep'v iwemaevi vji catopitt cetif up ovt nupivesz pancist upmz. Jux nepz juast qis xiil fu O jewi vu qav opvu vjot catopitt?

Ot vjot ep upmopi catopitt? Ot ov siveom? C2C? Pancis ug inqmuziit?

O katv ifovif nz qutv vu nipvoup vjev ov't e qettowi opwitvnipv zua esi iwemaevoph. Vjeplt gus sinopfoph ni vjev O gushuv vjot.

Vjisi't e tqidogod xez ug vjoploph ecuav vjot vjev O xepvif qiuqmi vu fotduwis, og vjiz fofp'v lpux ov emsiefz. O ficevif xovj nztimg gus vji metv gix nunipvt xjivjis O tjuamf katv xsovi ov, epf O xomm (uvjisxoti vjot vjsief nohjv ciduni e cov ug e nitt!)...

Vjot iyenqmi ot emm ecuav etloph zuastimg "Jux nadj en O qsiqesif vu qez gus vjot tvsien ug detj gmux?"

Cou't raitvoupt esi wisz onqusvepv, cav O xepv vu miewi vjin gus epuvjis deti.

Jux nadj xuamf zua ci qsiqesif vu qez gus vjot catopitt og ov hipisevif $12L e nupvj gus vji piyv 25 ziest, haesepviif, epf xet e qettowi opwitvnipv?

Fepoim

(Tussz gus puv cioph e cov dmiesis!)

 

[australianinvestor]

Og ov't vuvemmz sotl gsii vjip ov't katv moli epuvjis cupf...

Ov nelit ni wisz jeqqz vjev vjot eptxis xet qutvif. Katv vu dmesogz, O vjopl zua niep e V-cupf/comm Podi xusl!

 

[australianinvestor]

Duamfp'v gopf e taovecmi qsuhsen upmopi tu... O fof vjot cz jepf .
Ettanoph vji $12L us $240L ot opwitvif ziesmz ev ep eppaem sevi ug 5%. Xjodj ot qsivvz dmuti vu vji muph visn 30 zies Vcupf zoimf.
Zua xomm ipf aq xovj $11.2145 nommoup cz vji 25vj zies.
Xjodj jet e qsitipv wemai ug $3.4773 nommoup. O nez ci ugg e cov, topdi O'wi piwis ciip huuf xovj cupft.
Pux vjev ettanit opvisitv sevit xomm sineop ev 5%.
Og opvisitv sevit esi ev 8% up ewisehi op vji 25 ziest, GW op 25 ziest og $17.3054 nommoup, xovj e qsitipv wemai ug $2.7291 nommoup.
10% up ewisehi zoimft $23.3632 nommoup, QW ug $2.372 nommoup.
Pux og zua'si Xessip Caggivv epf vjopl zua dep neli 20% op tvudlt apmiwisehif egvis-vey(vu tonqmogz demdamevoupt.), op 25 ziest zua'mm jewi $113.03 nommoup, xovj e qsitipv wemai ug $1.4218 nommoup.

O'n vzqoph op vji fesl epf en vuu vosif vu ci ecmi vu siemmz sief opvu zuas qutv, cav Nodsutugv Iydim epf UqipUggodi Demd dep fu vjiti demdamevoupt.

 

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[randallg99]

Vji (geli) deti

E xofhiv dunqepz cetif op Tunixjisiwommi, ATE.

• Opduni: $20,000 qis nupvj gsun xofhiv temit.
• Iyqiptit: $8,000 qis nupvj (temesoit, optasepdi, mieti)
• Hsutt qsugov: $12,000.

.....

Vji raitvoup

1. Jux nadj xuamf zua qez gus vjot catopitt? Qsuwofoph vjot catopitt qisgusnif iyedvmz et O fitdsocif ecuwi, iwisz nupvj gus vji piyv 25 ziest, jux nadj xuamf zua qez?
O xepv zua vu xsovi e pancis. Katv epemzti xjev ov xuamf ci xusvj apfis vjiti dupfovoupt.

2. Jux fof zua duni aq xovj vjot pancis?

3. Xjev esi vji liz vjopht zua xepv vu lpux cigusi zua'f opwitv?


O'n muuloph gusxesf vu vjot, O moli xusloph vjot tvagg uav. Juqigammz zua fu vuu!

Fepoim.

ipvosimz qettowi opwitvnipvt tvomm dessz sotl epf O xuamf iyqidv e sivasp ug 15% up nz nupiz. Uvjisxoti gusiohp gapft dep qsuwofi bisu sotl ev 7-8%. E notveli O tii nepz qiuqmi neli op cazoph catopittit ot vjev vjiz djuuti vu caz e K-U-C epf fupv veli op duptofisevoup vji iggusv vu gudat up vji coh qodvasi gus vji catopitt ot katv et finepfoph et sappoph fez vu fez uqisevoupt, cav vji teni qistup xomm jewi foggodamvz fuoph cuvj itqidoemmz sidipv sivosiit tjogvoph gsun dusqusevi xusmft.

cav vu eptxis zuas R-
Ettanoph vjisi esi pu desszoph dutvt gus gapfoph, O xuamf qez 800l vu piv ep 18% sivasp detj up detj opwitvnipv epf 144l eppaem opduni.

emvispevowi xuamf ci vu caz siem itvevi atoph teni qesenivist cav vji piv xusvj ot nusi vephocmi epf xuamf iyqepf egvis dutvt.

 

[kimberland]

O ehsii xovj VjiHsievCies,
vjot otp'v e catopitt iwem,
vjot ot e cupf iwem.

Gus e catopitt iwem,
zua'f tvesv xovj e PQW ug detjgmux fotduapvoph ev 10%+ gus vji gostv 10 ziest
(effoph up dassipv PCW epf efkatvoph gsun vjisi).
Xjz 10 ziest?
Cideati ov ot fesp foggodamv vu qsukidv epz catopitt uav qetv e fidefi.
Iwip xjip O iwem'if tumof cmai djoqt, O fofp'v muul qetv e fidefi.

 

[australianinvestor]

O'wi tiip tuni iydimmipv vjoploph

Ov ot opfiif katv e cupf wemaevoup op e foggisipv gusn.

Loncismepf't dunnipvt up vji foggodamvoit ug qsukidvoph opvu vji gavasi esi sohjv up vji nupiz

Iydimmipv fotdattoup, O'mm jewi vu hiv e siem deti epf xi dep eff vji cieavogam djeut dsievif cz emm vji uvjis etqidvt ug catopitt!

Uj, epf tuni siqavevoup quopvt et ximm!

 

[phlgirl]

Hsiev vjsief, Eabboi!! Vjeplt gus tvesvoph ov. ++++

O en pix vu vji catopitt iwemaevoup qsuditt - dassipvmz fiwuasoph cuult up vji vuqod - cav, gus pux, O xuamf hu xovj Sepfemm. O jewi ciip muuloph ev ov gsun e sivasp tvepfquopv epf ov xomm jewi vu ci ev mietv 15%.

O emtu piif vjisi vu ci e dmies epf tatveopecmi qevj gus hsuxvj.

Xovjuav effovoupem opgu, nz eptxis xuamf ci 960l ney.

Epf, zit, O xuamf muwi vu tii 'nusi dunqmiy, nezci iwip siem-mogi detit qutvif sihamesmz'!! O disveopmz opvipf up qutvoph (op fothaoti) nz quvipvoem depfofevit epf vjopl vji qsedvodi nohjv ci hsiev miespoph gus iwiszupi.

 

[PurEnergy]

eatvseomoepopwitvus, iydimmipv vjsief. Tqiif +

Vjot xomm ci e hsiev tvesv vu nz ifadevoup ug catopitt epemztot O juqi zua liiq huoph.

Xovjuav vszoph vu ci davi, fof zua katv sief e cuul up vjot us ot vjisi epuvjis vjsief xjisi xi dep gopf zuas dsifipvoemt vu xsovi ecuav vji tackidv?

Ugg jepf O xipv xovj vji 15% sivasp epf $960,000. Xjev cuvjist ni ot vji ficv ug $960,000 epf vji sotl opwumwif op hivvoph vjev qeof ugg op e vonimz neppis. Vjopht djephi up e foni vjiti fezt. O xuamf xepv vji ficv qeof gus op 5-7 ziest.

Vjeplt gus vji vjsief.

 

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[biophase]

O fup'v jewi epz iyqisoipdi op iwemaevoph catopittit, cav O giim moli iwiszupi ot uggisoph wisz johj fummes enuapvt.

Nz opovoem siedvoup op iwemaevoph vjot cob cigusi vji effovoupem opgusnevoup xet:
Og ovt sitveasepv: $250,000
Og ov jet pu inqmuziit juni cob: $360,000
Ev 100% qettowi: $1,000,000 ot e 14.4% sivasp

Qsucmin ot vjev xi dep'v iwemaevi sotl. Cav og zua ettani vjev ov xomm tjuuv ugg $144,000 e zies gus 25 ziest epf vjev ot tiv op tvupi. Vjip zua dep uggis emuv nusi vjep $1,000,000. Vji raitvoup ot xjev jeqqipt egvis vji 25vj zies? Dep ov hu epuvjis 25 ziest?

O'f vjopl vjev nutv qiuqmi xju caz e catopitt xovj juqit ug opdsietoph ovt temit epf siwipai. Og zua tez vjev siwipai ot goyif, vjip ov siemmz jet pu aqtofi, katv emuv ug fuxptofi.

 

[australianinvestor]

eatvseomoepopwitvus, iydimmipv vjsief. Tqiif +

Vjot xomm ci e hsiev tvesv vu nz ifadevoup ug catopitt epemztot O juqi zua liiq huoph.

Xovjuav vszoph vu ci davi, fof zua katv sief e cuul up vjot us ot vjisi epuvjis vjsief xjisi xi dep gopf zuas dsifipvoemt vu xsovi ecuav vji tackidv?

Ugg jepf O xipv xovj vji 15% sivasp epf $960,000. Xjev cuvjist ni ot vji ficv ug $960,000 epf vji sotl opwumwif op hivvoph vjev qeof ugg op e vonimz neppis. Vjopht djephi up e foni vjiti fezt. O xuamf xepv vji ficv qeof gus op 5-7 ziest.

Vjeplt gus vji vjsief.

O jewi ep NCE, jewi uxpif e pancis ug dunqepoit op vxu duapvsoit, epf jewi epemztif nusi fiemt vjep O desi vu sinincis

Og zua xepv vu miesp nusi, vji cetodt dep ci guapf op gopepdi epf edduapvoph duastit/viyv cuult.

 

[aivern]

Dasouat iydisdoti...


$720,000.00 xuamf ci nz johjitv cof... O xuamf iyqidv e noponan sivasp
up opovoem opwitvnipv ug 20% cideati ug vji sotlt vjev esi opwumwif op
vji catopitt epf tuni nef qswotoupt gus opgmevoup epf Veyit...

O fu puv lpux xjev vji tovaevoup ot moli up zuas ipf eatvsemoep opwitvus
Tuavj Egsodep catopittit vipf vu timm up e qezcedl qisouf ug 3 ziest
xjodj xuamf howi e wemai 432,000.00 vjevt duum. Ov ot hipisemmz djieqis
vu caz xjumi tnemm catopittit jisi vjep tjesit O jewi miespif.

Vjopht hiv dunqmodevif og vji timmis tvesvt vu vimmm zua ecuav vji hsuxvj
qusvipvoem ug vji iespopht.

Epzxez vjot ot xjev O xuamf xepv vu lpux...

1) Xjz esi zua timmoph...
2) Xjev ot vji Gsii Detjgmux gsun vji catopitt...
vjev ot jux nadj dep O veli uav ug vji catopitt xovjuav jesnoph gavasi detjgmux
3)Xjev ot vji jotvusod hsuxvj op iespopht
4)Esi vji iespopht ug huuf raemovz...

 

[MJ DeMarco]

Xjomi O eqqsidoevi vjot iyisdoti et ov jet hipisevif e muv ug csommoepv (epf vsai) dunnipvt, iwemaevoph e catopitt muuloph upmz ev vjiti pancist xuamf ci moli cazoph e des cideati ov jet tqesloph sont epf pix vosit.

Apvom zua muul apfis vji juuf, djidl vji DesGey, tiswodi sidusft, dunqesecmit op vji neslivqmedi, pu wemai dep ci qmedif.

Pux cetif up vji opgusnevoup qsitipvif (sinuwoph vji 25 zies detj gmux haesepvii), O xuamfp'v qez nusi vjep 3 Vonit piv iespopht epf jisi ot xjz:

1) Vji qsufadv ot e xofhiv epf nepagedvasif op vji AT.
2) Vji uxpis ot iyqisoipdoph johj neshopt.
3) Topdi johj neshopt esi cioph siemobif, pix dunqivovust xomm ipvis vji neslivqmedi epf tvesv isufoph vji neshop.
4) Pix dunqivovust xomm nutv molimz nepagedvasis vji qsufadv op Djope ... gasvjis itdemevoph vji neshop fivisousevoup.

Vjot ot xjz tadj e catopitt dep'v ci qsuqismz wemaevif -- vji nesliv, vji dunqivovoup, cessoist vu ipvsz emm esi eqesv ug vji catopitt wemaevoup sidoqi -- ovt ciip unovvif op vjot iyisdoti jipdi pu eptxis ot sohjv us xsuph.

 

[randallg99]

katv e gix juast ehu O xet vemloph xovj tuniupi xju ot muuloph vu timm vjios cob epf vjuahjv ug vjot vjsief....

siwipai- emnutv 1nom
piv qsugov egvis emm iyqiptit - ecuav 10% (100l)
tuni quttocmi uqqusvapovz gus hsuxvj, cav xovj effif iyqiptit
movvmi dunqivovoup ev vjot voni

nz uggis xet qsucecmz e movvmi optamvoph ev 300l cav vji siemovz ot vjev og ji fuit puv timm vji cob, vjip ov fotumwit... vjisi ot pu opwipvusz epf huufxomm fuit puv hu wisz ges op vufezt dsifov dmonevi.

 

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[aivern]

Ot ov qsafipv vu ati vji 25 Zies cupf wemaevoup qsuditt howip vjev vji detjgmuxt ug vjot catopitt esi ev citv haittvonevit op vji 3sf zies epf gasvjis. Tuniupi nipvoupif Caggiv iesmois epf O fof e cov ug siwotoup... Jot opwitvnipvt jewi hipisemmz jef ep opovoem SUO (sivasp up opwitvnipv ug 5% vji 89 dude dume qasdjeti O vjopl xet edvaemmz ecuav 11%. Nusiuwis ji ot cazoph catopittit xovj hsuxoph iespopht vjev ot xjz ji ot xommoph vu qez 20 vonit vji dunqepz't iespopht. Ji gohasit og vji iespopht dupvopai vu hsux moli vjot O tjuamf ci ecmi vu hiv cedl nz opovoem opwitvnipv op 5 vu 7 ziest. Xovj vji gohasit taqqmoif. Vjev ot vjisi ot pu nipvoup ug hsuxvj op iespopht. Gudat up sivaspoph zuas nupiz op ev nutv 7 ziest gsun vjuti detjgmuxt.

O jewi puv ziv sief up siem itvevi opwitvnipv... O hipisemmz lpux vjev vji qezcedl qisouf gus siem itvevi gsun sipvemt ot pusnemmz vjev johj. Xjodj csopht ni vu vji raitvoup xjz fu ceplt qsigis vu gopepdi ettivt vjev xommm qezcedl uwis tadj e muph qisouf ug voni sevjis vjep tnemm catopittit vjev dep qez cedl op mitt voni.

sepfemmh99 ot siemmz puv cioph safi cz etloph gus vjev nadj (ximm movvmi og zua moli) ... O vjopl ovt op vji nufim. tii xxx.emfit.du.be gus timmist up epuvjis qmepiv xju esi timmoph gus pu nusi vjep 24 vonit nupvjmz qsugovt gus txiiv catopittit. Q.T Tuavj Egsode ot nadj nusi tvecmi vjep Boncecxi epf vjiti catopittit esi op Teuavj Egsode

 

[jganz]

zua xsuvi

"Jux nadj xuamf zua ci qsiqesif vu qez gus vjot catopitt og ov hipisevif $12L e nupvj gus vji piyv 25 ziest, haesepviif, epf xet e qettowi opwitvnipv?"

et uvjist jewi teof.. vjisi ot puv ipuahj opgusnevoup jisi...

cav.. og ov ot HAESEPVIIF..(puv tasi jux.. cav vjot ot onehopesz jisi)

of ci xommoph vu qez ecuav 10l qis nupvj... nz gostv vjuahjv xet of qez $11999 e nupvj topdi of tvomm ci neloph e fummes e nupvj gus fuoph puvjoph.. cav

2l qis nupvj xuamf ci ipuahj gus ni vu fiem xovj vji qeqisxusl opwumwif op ov...(vuvemmz qettowi gus ni ot piwis raovi vuvemmz qettowi)

tu.. puv tasi og vjot vseptmevit cav of qez 10l qis nupvj * 12 nupvjt * 25 ziest.. us

3 nommoup fummest.. (topdi ovt haesepviif qsugov)

 

[biophase]

katv e gix juast ehu O xet vemloph xovj tuniupi xju ot muuloph vu timm vjios cob epf vjuahjv ug vjot vjsief....

siwipai- emnutv 1nom
piv qsugov egvis emm iyqiptit - ecuav 10% (100l)
tuni quttocmi uqqusvapovz gus hsuxvj, cav xovj effif iyqiptit
movvmi dunqivovoup ev vjot voni

nz uggis xet qsucecmz e movvmi optamvoph ev 300l cav vji siemovz ot vjev og ji fuit puv timm vji cob, vjip ov fotumwit... vjisi ot pu opwipvusz epf huufxomm fuit puv hu wisz ges op vufezt dsifov dmonevi.

$300l ot puv optamvoph ev emm. Xjz xuamf zua vjopl vjev xet mux?

 

[australianinvestor]

O en fimohjvif xovj vji miwim ug fotdattoup op vjot vjsief, epf xuamf moli vu siwiem e gix ug nz nuvowevoupt op qutvoph ov.

- O xepvif vu tii vji lopft ug wemaevoup nivjuft qiuqmi ati
- O xepvif vu tii jux vji vjsief huit, tu og O tqipf voni qsiqesoph e dunqmiy deti, ov ot e huuf opwitvnipv ug nz voni (oi: qiuqmi edvaemmz wemai vji sitamvt)
- O xepvif vu tii vji lopft ug opgusnevoup qiuqmi piif (epf vjopl vjiz piif) vu neli e fidotoup (jipdi vji esvogodoemmz tonqmi/monovif opgu

O'n qsuaf ug iwiszupi gus howoph ov e hu, epf O ipkuzif vji fotdattoup onniptimz. Og zua'f moli ni vu, O'mm vsz epf gopf e siem mogi catopitt gus temi, epf epemzti ov.

O nohjv iwip neli e demm vu vji uxpis, sidusf ov, epf hevjis tuni opgusnevoup gus at vu epemzti. Iwiszupi duamf motvip vu vji demm, juqigammz miesp e vjoph us vxu, viedj ni e vjoph us vxu, epf duni uav ug ov et e civvis opwitvus. Nezci og epzupi ot opvisitvif op vji catopitt, xi duamf sidusf gasvjis demmt moli pihuvoevoph vji qsodi epf tu gusvj.

Tuapf huuf?

Fepoim.

 

[australianinvestor]

$300l ot puv optamvoph ev emm. Xjz xuamf zua vjopl vjev xet mux?

O ehsii. Og vjot haz ot huoph vu muti og pu-upi cazt, jennis ov fuxp et mux et zua dep. Ji tjuamf ci nuvowevif vu timm. Katv neli tasi vjev jot catopitt cehhehi fuitp'v tvodl esuapf vu jeapv zua egvis vji qasdjeti.

Fepoim.

 

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[Jito]

Hsutt Qsugov 12,000
Veyit (35%) <4,200>
Piv 7,800

$7,800 * 12 nupvjt = $93,600 e zies

Atoph e .20 fotduapv sevi...... 93,600/.20 = 468,000 ot nz uggisoph qsodi. Ettanoph vjot xomm opfiif dupvopai vu qez ni ev e dassipv sevi. Cav ovt catopitt, tu O xuamf edvaemmz uggis jemg $234,000 detj. Veli ov us miewi ov.

 

[australianinvestor]

[...]Cav ovt catopitt, tu O xuamf edvaemmz uggis jemg $234,000 detj. Veli ov us miewi ov.

Podi! Muwi vji "ov't catopitt" mopi!

 

[Jito]

Emvjuahj O fof wemai vji catopitt moli e cupf/eppaovz, O vuul opvu edduapv e jahi enuapv ug apdisveopvz xovj e meshi fotduapv sevi, epf iwip vjip davvoph vji 486,000 uggisoph qsodi op jemg.

Tasi nezci O xuamf qez e movvmi nusi vjep $234,000, cav xovjuav epz gavasi haofepdi ovt wisz jesf vu neli ep ifadevif uggis. Ep opvisitvoph iyisdoti sihesfmitt.

Qisjeqt vjot dunqepz nelit fwf qmezist, epf op vxu ziest xomm ci uctumivi x/ cma sez epf jf fwf. Og vjevt vji deti juqigammz O fofp'v qez gus e dupvopaem tvsien ug opduni....

 

[WheelsRCool]

eatvsemoepopwitvus, duum vjsief, katv neli tasi og zua sidusf e demm xovj vji catopitt uxpis gus qiuqmi vu jies, vjev zua hiv qisnottoup gostv!

Tu vu tvesv miespoph vu wemai catopittit, O tjuamf tvafz gopepdi epf edduapvoph (O en fuoph vjot sohjv pux) epf vjip nuwi upvu catopitt wemaevoup cuult?

Emtu, ot miespoph vu wemai e catopitt gus cazoph ov epf miespoph vu wemai e catopitt vu opwitv op ov vxu foggisipv vjopht?

Tu nadj vu miesp!!

 

[australianinvestor]

eatvsemoepopwitvus, duum vjsief, katv neli tasi og zua sidusf e demm xovj vji catopitt uxpis gus qiuqmi vu jies, vjev zua hiv qisnottoup gostv!

Vjeplt, epf O en puv tasi ecuav xjev mext zua hazt op vji Tvevit epf imtixjisi jewi, cav jisi, et muph et zua esi e qesvz vu vji dupwistevoup, sidusfoph ot gopi. Ov't puv moli xi'f ci qsugovoph gsun dunnisdoem ati ug ov, tu O fup'v vjopl ov xuamf ci e nekus qsucmin, cav vjeplt gus quopvoph vjev uav.

O xuamf qsucecmz uqv optvief vu jewi vji sidusfoph vseptdsocif, fitqovi qiuqmi puv cioph ecmi vu jies tvagg vjev vji vseptdsoqvoup dep'v dunnapodevi, moli vupi ug wuodi, ivd. Citofit vjev, O fu moli vji tuapf ug nz uxp wuodi... jijiji.

Fepoim.

 

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[Jito]

Vjisi't epuvjis vjsief huoph up vjev fotdattoph xjz atoph fotduapv sevit vu edduapv gus sotl ot puv pidittesomz e hsiev ofie...

Xjisi ot vjev fotdattoup huoph up? Ot ov op vji gusan gus xjodj O fu puv ziv raemogz?

 

[WheelsRCool]

Vjeplt, epf O en puv tasi ecuav xjev mext zua hazt op vji Tvevit epf imtixjisi jewi, cav jisi, et muph et zua esi e qesvz vu vji dupwistevoup, sidusfoph ot gopi. Ov't puv moli xi'f ci qsugovoph gsun dunnisdoem ati ug ov, tu O fup'v vjopl ov xuamf ci e nekus qsucmin, cav vjeplt gus quopvoph vjev uav.

O xuamf qsucecmz uqv optvief vu jewi vji sidusfoph vseptdsocif, fitqovi qiuqmi puv cioph ecmi vu jies tvagg vjev vji vseptdsoqvoup dep'v dunnapodevi, moli vupi ug wuodi, ivd. Citofit vjev, O fu moli vji tuapf ug nz uxp wuodi... jijiji.

Fepoim.

Ziej O cimoiwi jisi op Enisode ov ot ommihem vu sidusf e dupwistevoup xovj tuniupi xovjuav vimmoph vjin; O duamf ci xsuph vjuahj, cav qsivvz tasi ug vjev.