Family Business Sale

Clear snapshot of the purchase of the business, the cash distributions, what's still owed, and Khalid's equity position.

Last updated: Aug 11, 2025
Cash already paid to 4 siblings (combined)
$4,000,000
Ahmed, Marwah, Mo, Mona — $1,000,000 each
Outstanding to Sellers (Aug 11, 2025)
$1,541,481.87
Property Note: $401,156.46 · VTB: $1,140,325.41
Includes $26,762.98 accrued interest
Per sibling total (with interest)
$1,385,370.47
= $1,000,000 + $385,370.47 (incl. interest)

Transaction Overview

The family business sale involved a complex two-part transaction structure executed over 8 months, transferring control of Murad Younis Healthcare Inc. (pharmacy operations) and its related property assets from Maha Younis to Khalid, while providing cash distributions to four family members.

Phase 1: Asset Sale (June 2024)

Westmount Pharmacy Property transferred from Younis Properties Inc. to Younis Properties 2024 Inc. for $2.2M via promissory note.

Share Sale (Effective July 22, 2024)

MYHC shares transferred from Maha to MYHC Acquisition Inc. Total consideration: $7,490,140 (satisfied by bank financing/cash plus a remaining VTB of $1,115,140 dated Feb 27, 2025).

Interest Accrual Status

As of August 11, 2025

VTB Term Note

Principal:$1,115,140.00
Rate:5% p.a. (compounded annually)
Interest from:Feb 27, 2025
Days accrued:165 days
Interest:$25,185.41
Total:$1,140,325.41

Property Sale Note

Principal:$399,578.89
Rate:3% p.a. (after year 1)
Interest from:Jun 24, 2025
Days accrued:48 days
Interest:$1,577.57
Total:$401,156.46

Share Sale Demand Note

Principal:$7,490,140.00
Rate:3% p.a. (after year 1)
Interest from:Jul 22, 2025
Days accrued:20 days
Interest:$12,301.59
Total:$7,502,441.59

Note: Interest calculations are estimates based on simple interest formulas. VTB compounds annually but shown as simple for mid-year calculation. Actual amounts may vary based on payment timing and compounding methodology.

Transaction Timeline

Jun 24, 2024
Property beneficial interest sold; $2,200,000 note.
Jul 22, 2024
Share sale; $7,490,140 demand note to Maha.
Sep 30, 2024 (target)
Legal title transfer for $1.00, free of encumbrances.
Nov 19, 2024
BMO loan agreement referenced in VTB consent.
Jan 2025
BMO funds/TD payoff & intercompany transfers (journals).
Feb 27, 2025
VTB $1,115,140 at 5%; subordinated GSA to Maha.

⚠️Risk & Terms

VTB Governance:Principal payments on the $1,115,140 VTB require Bank of Montreal consent.
Security Ranking:Maha's GSA is subordinated to BMO and certain major suppliers.
Demand Note (Share Sale):$7,490,140; 0% year 1, then 3% after July 22, 2025; 30 days after demand.

Transaction Summary

$12.7M
Total Economic Value
$6.2M
Cash Distributed
$6.5M
Equity/Property Value
4.2×
Khalid vs Sibling Ratio