No business of their size has that kind of cash on hand, your quarterly taxes prevent that from happening . That being said I have no idea of their business structing . if the are an " S" corp "C' corp maybe an LLC. or even a sole proprietorship .
Theirs lots of unanswered questions, but like others have said Wells Fargo are bottom feeds of the lending market , and it sounds like a bloon payment was either missed or comming up and the lack of funds available were not satisfactory to cover the total debt, so they got froggy trying to leapfrog the federal government.
Explain.....
S corp, LLC is a pass through...... you make no sense
At structuring of a company simply controls how you are taxed and who is responsible for the debt, these guys didn't borrow 3 million without the means to pay it back, no ones going to loan that kind of money on a LLC without personal loan guarantees, I'm guessing they are an S corp and all of the earnings are taxed at the personal level with most of their spending is company related, as in trucks, hunts written off as testing and many more, every thing a smart man would do to limit taxable income.
