First-pay diagnostic

Find out where the revenue clock breaks.

Four questions about your post-close operation. Takes about 3 minutes. You get the results immediately and a copy goes to your email.

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Level 1: Visibility

If someone asked you right now to pull up every acquisition from the last 90 days that has not received first revenue yet, how long would that take?

This tests whether unpaid assets can be identified quickly and in one place.

A few minutes. I can pull that up from one system.

I would need to check a few different places to build that list.

That would take a while. We do not have that consolidated anywhere.

We do not actively track that after close.

Level 2: Ownership

For acquisitions that have not received first pay yet, does each one have a specific person assigned to it with a next action?

This tests whether individual assets have named owners or live on a shared list someone checks when they can.

Yes. Each asset has a named owner and a defined next step.

We have a shared list and the team works through it as they can.

It depends. Different people handle different ones and it is not always clear who owns what.

We check on things as they come up. No formal ownership per asset.

Level 3: Escalation

When an acquisition hits 60 days without first pay, what happens? Is there an automatic flag or does someone have to notice it?

This tests whether aging assets trigger action on their own or require a person to manually discover the problem.

We have time-based escalation triggers that fire automatically at specific intervals.

Someone would notice and bring it up. No automatic trigger.

If the person tracking it is busy or on vacation, it just sits until someone asks.

We have not had that problem. Or we have not looked closely enough to know.

Level 4: Stop Rule

What specific event marks an acquisition as fully done? When do you stop tracking it?

This tests whether there is a defined endpoint for the post-close process or whether assets can technically sit open forever.

First revenue confirmed and verified against the division order. That is when the clock stops.

When the division order comes back signed. That is what we consider done.

When the operator is notified. After that it is on them.

We do not have a specific marker for that. Things just move along until they resolve.

A copy of these results was sent to and to AFC Royalties.