Notice of Decision Not to Proceed with Acquisition – TheKey of Kansas, LLC

From
Dane Johnson <djohnson132004@gmail.com>
To
Timothy Thomas <tt@thekey.com>, Melissa Reyes <melissa.reyes@thekey.com>, Grant Eckert <geckert221@gmail.com>
Date
Fri, 17 Oct 2025 11:54:57 -0500
Folder
INBOX
--0000000000009b919406415d9863 Content-Type: multipart/alternative; boundary="0000000000009b919306415d9861" --0000000000009b919306415d9861 Content-Type: text/plain; charset="UTF-8" Dear Melissa Reyes and Timothy Thomas, We want to thank you and your team for your time and cooperation throughout the diligence process. After careful review of the business and its recent performance, we have determined that we will not be moving forward with the proposed acquisition of TheKey of Kansas, LLC under the terms outlined in our Letter of Intent dated September 18, 2025. During diligence, we observed a significant decline in recent weeks in active client count and corresponding recurring revenue, which materially impacts the financial sustainability of the business. Given these developments, we do not believe it is prudent to proceed with the transaction at this time. Please find attached a formal letter documenting our decision, signed by both Buyers. We appreciate the responsiveness and professionalism of your team throughout this process and wish you continued success moving forward. If you have any questions or want to discuss it further, we are happy to make ourselves available. Please be advised, we have not shared this update with the team at The Key Kansas City or communicated anything about this whatsoever. Warm regards, Grant Eckert Buyer Dane Johnson Buyer 913-908-9808 --0000000000009b919306415d9861 Content-Type: text/html; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Dear Melissa Reyes and Timothy Thomas, We want to thank you and your team for your time and cooperation= throughout the diligence process. After careful review of the business and= its recent performance, we have determined that we will not be moving forw= ard with the proposed acquisition of TheKey of Kansas, LLC under the terms = outlined in our Letter of Intent dated September 18, 2025. During diligence, we observed a significant decline = in recent weeks in active client count and corresponding recurring revenue,= which materially impacts the financial sustainability of the business. Giv= en these developments, we do not believe it is prudent to proceed with the = transaction at this time. Please find= attached a formal letter documenting our decision, signed by both Buyers. We appreciate the responsiveness and = professionalism of your team throughout this process and wish you continued= success moving forward. If you have any questions or want to discuss it fu= rther, we are happy to make ourselves available. Please be advised, we have= not shared this update with the team at The Key Kansas City or communicate= d anything about this whatsoever.=C2=A0 Warm regards, Grant Eckert Buyer Dane Johnson Buyer 913-908-9808 --0000000000009b919306415d9861-- --0000000000009b919406415d9863 Content-Type: application/pdf; name="Notice OF Decision Not to Proceed.pdf" Content-Disposition: attachment; filename="Notice OF Decision Not to Proceed.pdf" Content-Transfer-Encoding: ba

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