What we will publish only after verification
A figure without a definition is an impression dressed as a fact. Here is the rule by which quantitative metrics reach public pages, and why we prefer an empty space to an unverified number.
Every company presentation runs into figures: so many locations, so many guests, this much growth. We deliberately keep public pages without them until a metric has passed verification.
Four mandatory fields
A metric is published only if it has all four attributes. Missing any one turns the number into an estimate.
- Definition: what exactly is counted and what is excluded.
- Period: over what interval it is calculated and as of what date.
- Methodology: how it was obtained, by what means and under which assumptions.
- Source: where the underlying data comes from and who can confirm it.
Why the definition matters more than the number
The same word hides different quantities. Is a “guest” a unique person, a transaction or a visit? Is a “location” one working today, one ever opened, or does it include partner sites? The gap between readings is often wider than the gap between a good and a bad result.
An omission instead of an estimate
If a metric has not passed verification, we publish neither an approximate value nor an internal placeholder. The question remains a verification task internally; the unsupported block is absent from the public material.
The same principle governs investor pages. Rates, expected returns, payback periods, collateral, buy-back, DSCR and projected payments are not published on a public page at all: they are calculated per project and shared in a closed dialogue after qualification.
What it costs
The rule has a price: a piece can look less persuasive until the data is ready. But an absent figure is more honest than a number without a definition or an internal note accidentally shown to the reader.
A published number outlives the context in which it was given. When the methodology or period changes, the piece should receive a new review date rather than silently retaining the old claim.
This piece reflects the team’s operating experience as of the publication date and is not investment advice. Where quantitative data appears, it carries a definition, period and source.