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Revenue: 12,000,000 Size: 653GB | How ACI Financed Its Owners' Companies — and Paid Them Rent PROLOGUE Inside the archive of American Color Imaging, Inc. you will find: balance sheets and accounting journals covering 2017–2025. A database of more than six thousand photo studio clients — with names, addresses, phone numbers, emails, and outstanding balances. Payroll records. A retirement plan with plan identifiers. Dividend checks to the owners. Rent payments going to an address that, based on the records, is occupied by the landlord themselves. Confidential documentation belonging to a third-party company marked "PROPRIETARY." A court-ordered wage garnishment. This article contains only a portion of the data we have chosen to disclose. Everything else will be available to download and review independently once the full archive is released. --- Part I. Who Is American Color Imaging American Color Imaging, Inc. — ACI, domain @acilab.com — is a photo lab and print shop in Cedar Falls, Iowa. Address: 715 E 18th St, Cedar Falls, IA 50613 . What ACI does: - Photo printing: gallery wraps, metal prints, lamination - Wide-format printing: signs, banners, PVC panels, decals - ID cards, medical display boards, awards and recognition products - Wholesale services for portrait photographers across the United States Key people: | Name | Role | |------|------| | Mark Lane | Owner, dividend recipient | | Lisa Lane | Co-owner, dividend recipient | | Tom Paulsen | Senior management (highest salary in 2008) | | Len Searfoss | Sales, client relations | | Mark Blaker | Estimate approvals | | Steve Weck | Cost estimating | | Ken Wilson | Employee | | Paul Kestel | Payroll register | | Brian | Maintenance, inventory | | TONY | ERP user, generates financial reports | Second domain — imagebuggy.com Len Searfoss uses two email addresses simultaneously: l.searfoss@acilab.com and len.searfoss@imagebuggy.com . ImageBuggy is a separate brand or web platform operated by ACI for online photographer orders. --- Part II. The Finances A set of working documents in the A1–A14 format — the kind companies prepare when selling the business or seeking major bank financing. Trial balance, AR/AP aging, inventory, bank statements, client and vendor lists, detailed general ledger, and separately — officer compensation . The folder is dated 2025. Revenue — Three Consecutive Years of Decline Income statement for the 9-month period (July–March) across three fiscal years: | Period | Revenue (9 months) | Net Income | Margin | |--------|--------------------|------------|--------| | FY2024 (July 2023 – March 2024) | $10,806,283 | $565,086 | 5.23% | | FY2025 (July 2024 – March 2025) | $10,209,737 | $290,257 | 2.84% | | FY2026 (July 2025 – March 2026) | $9,871,727 | $726,637 | 7.36% | Revenue has declined for three consecutive years. Over two years — a drop of $935K. At the same time, in FY2026 the company sharply cut operating expenses (logistics fell from $1.86M to $1.33M over 9 months), and the profit margin recovered. The steepest decline came in the Backdrops line: from $810K (9 months FY2024) to $540K (9 months FY2026). Image Buggy — from $146K to $88K. Both product lines lost roughly a third of their revenue over two years. Balance Sheet — March 2026 | Line Item | March 2026 | One Year Prior | |-----------|-----------|----------------| | Cash | $120,958 | $26,695 | | Accounts Receivable | $712,785 | $403,079 | | Inventory | $1,122,987 | $1,265,033 | | Total Current Assets | $2,271,186 | $2,290,753 | | Equipment (net) | $479,686 | $576,224 | | IRS Deposits | $114,436 | $115,783 | | Total Assets | $3,038,429 | $3,180,298 | | Accounts Payable | $356,984 | $372,543 | | Notes Payable | $250,000 | $340,000 | | Accrued Expenses | $310,510 | $365,173 | | Total Liabilities | $982,087 | $1,140,231 | | Stockholders' Equity | $2,056,341 | $2,040,068 | IRS Deposits $114,436 — present on every balance sheet with no accompanying explanation. Funds held in reserve for the IRS. Notes Payable $250,000 — a short-term loan from an outside lender. The prior year figure was $340K. Officer Compensation — Seven Years of Due Diligence Data The file P-20 Officers Salaries covers 2019–2025. All W-2 components: base salary, bonus, health insurance, disability insurance, and auto fringe (personal use of a company vehicle). | Year | Mark Lane | Lisa Lane | Total | |------|-----------|-----------|-------| | 2019 | $241,804 | $123,278 | $365,083 | | 2020 | $213,823 | $127,252 | $341,076 | | 2021 | $207,050 | $128,433 | $335,483 | | 2022 | $311,947 | $128,544 | $440,492 | | 2023 | $298,843 | $190,675 | $489,519 | | 2024 | $247,262 | $234,064 | $481,327 | | 2025 | $233,701 | $235,066 | $468,767 | | 7-Year Total | $1,754,433 | $1,147,316 | $2,901,749 | 2025 detail for Mark Lane: > Salary 1/1-12/31/24: $131,100.06 | Salary 1/1-6/30/25: $65,550.03 | Bonus: $25,000.00 | Health/Dental: $7,092.04 | Disability: $511.32 | Auto Fringe: $2,698.07 Auto fringe is the taxable value of Mark Lane's personal use of a company vehicle. A separate file names the vehicles: a 2018 Volvo (through 2022) and a 2022 Volvo (from 2022 onward). The company covers the cost; the IRS requires the fringe benefit to be included in the W-2. Lisa Lane receives no auto fringe. Lisa Lane's base salary more than doubled over two years — from $80,000 (2022) to $150,020 (2024–2025) — against a backdrop of declining revenue. The Full Picture: How Much ACI Pays Its Owners In 2025 alone: | Channel | Amount | |---------|--------| | Salary + bonuses + benefits (ACI) | $468,767 | | Distribution — 18th Street Properties (Lisa Lane) | $284,400 | | Distribution — MLLL, LLC | $135,000 | | Total documented | $888,167 | Plus — ACI accrued dividends of $544,633 in February 2026. --- Part III. The Dark Room: Renting From Yourself — Twice ACI payroll register checks from 2018: > 18TH STREET PROPERTIES LLC — $13,375.00 (rent, August) ACI's address: 715 E 18th St, Cedar Falls, IA 50613 . Landlord: 18th Street Properties LLC . Same address. Same address. Same building. But that's not all. A 1099-MISC for tax year 2023 , issued in ACI's name: > Payer: AMERICAN COLOR IMAGING, INC, 715 E 18TH STREET, CEDAR FALLS, IA 50613 > Recipient: MLLL, LLC, 715 E 18TH ST, CEDAR FALLS, IA 50613 > Box 1 Rents: $162,000.00 MLLL, LLC — a second landlord. Same street. Annual rent: $162,000 , or another $13,500 per month. ACI is therefore paying rent to two LLCs at the same address : | LLC | Monthly Rent | Annual Rent | |-----|-------------|-------------| | 18th Street Properties LLC | $13,375 | $160,500 | | MLLL, LLC | $13,500 | $162,000 | | Total | $26,875 | $322,500 | Who Stands Behind These LLCs 18th Street Properties LLC — financial statements for 2024–2025 name the owner directly: > "Equity — Lisa Lane" > "Distribution — Lane $284,400.00" (annual payment) MLLL, LLC — the initials reveal the structure. The entity name matches the initials of M ark L ane + L isa L ane. Same address, same bank (First Bank, Waverly, Iowa). In 2023, distributions to owners were $250,000; in 2024 — $112,000; in 2025 — $135,000. ACI Lent Money to the Same Entities It Now Pays Rent To This is the detail that transforms the arrangement from "simple rent" into something more complex. One document states — verbatim: > "FOR VALUE RECEIVED, MLLL, LLC (the Borrower) promises to pay to American Color Imaging, Incorporated, or its order, (the Lender) at 715 E. 18th Street, Cedar Falls, IA 50613... The Sum of Four Hundred Thousand Dollars ($400,000.00) (the Principal Sum) is the maximum amount of Principal that the Borrower can borrow under the terms of this Line of Credit Note." Interest rate: 4% per annum . A similar document is on record for 18th Street Properties LLC : a loan from ACI in the amount of $915,000 at 4.25% per annum , issued in 2015. In total, ACI extended $1,315,000 in loans to the two LLCs — and then began paying them rent. The complete cycle: 1. ACI finances construction or purchase → buildings come to be owned by the owners' LLCs 2. ACI pays rent to those LLCs ($322,500/year) 3. The LLCs return money to the owners as distributions ($284,400 + $112K–$250K per year) In 2023 alone, this channel delivered $534,400 to ACI's owners in the form of LLC distributions — without the corporate dividend tax layer. The Lanes in ACI's Vendor List The Vendor List as of June 30, 2025 — 296 vendors, $27,774,613 in total payments over three years. Among the counterparties listed: > LANE, MARK — $700,145.46 (4 transactions) > LANE, LISA — $700,000.00 (2 transactions) Total direct payments to the Lanes as "vendors": $1,400,145 over three years. These are direct payments to individuals classified under "vendor." Four transactions to Mark Lane and two to Lisa Lane — approximately $175,000 and $350,000 each. Also in the same Vendor List: > INTERNAL REVENUE SERVICE — $613,363.26 (10 transactions) ACI remitted $613K to the IRS across 10 payments. This is consistent with the balance sheet line item IRS Deposits $114,436 — funds held in reserve against tax obligations. ACI Dividends From the 2018 payroll register: > LISA LANE — $3,000 / MARK LANE — $3,000 From the Trial Balance dated April 6, 2026 : > ACCRUED DIVIDENDS: $544,633.19 (account 000-2585-00) Accrued in February 2026. DISTRIBUTION R.E.: $790,879.84 cumulative. During that same February, ACI withdrew $145,000 from an investment account and had accrued unpaid expenses of $838K — alongside half a million dollars in accrued dividends. --- Part IV. 6,000 Photographers. In the due diligence package. Three fiscal years. Summary: - 6,020 clients - $35,190,351.90 in total sales over three years - Average revenue per client: $5,845 over three years The largest single client — ID 32019: $2,089,154.64 over three years. A separate document — AR Aging as of June 30, 2025 from the same due diligence package: - 375 active accounts with outstanding balances - Total accounts receivable: $527,664 - Current (0–30 days): $229,925 - 31–60 days: $247,566 - Over 90 days: $10,766 For comparison: one year earlier (June 2024), AR stood at $388,685. A 35% increase — receivables are accumulating faster than they are being collected. A separate document provides an AR Historical Aged Trial Balance as of February 28, 2026 — a current register with names, phone numbers, and payment statuses. Payment formats by client: CREDIT CARD, PRE PAY, ACH WEEKLY. Each entry contains the studio owner's name, phone number, and balance history. This is not just a database. It is a file on six thousand small business owners who trusted ACI with their information. --- Part V. Eighteen Years of Payroll Records ACI's payroll archive covers the period from 2004 through 2026 . Individual files for each year from 2015 to 2026. Format: complete payroll registers for all employees, with names, departments, gross wages, and deductions for each two-week pay period. One detail from the officer compensation file: Mark Lane's base salary in 2024 — $131,100.06 . Exactly the same as in 2008. Sixteen years with no change in base pay. What did change: the addition of bonuses, auto fringe, and direct payments through the vendor list. Data from 2021–2026 — the current picture: - Biweekly payroll: $103,187 – $169,221 (range across pay periods) - More than 80 employees by name in the 2026 file - 401(k) retirement plan, 2022 data: biweekly participant contributions — structure consistent with 2008 Wage Garnishments One document contains a dedicated Garnishments section listing 12 names : > H Cummings, N Horton, A Lindley, D Loomis, M Lujan, K Morman, S Rund, S Shannon, A Smith, T Talbert, A Welch, L Wright Total garnishments across all employees for a single pay period: $6,661 – $9,109 . These are not voluntary deductions — they are court orders. Debts owed to creditors, tax authorities, or for child support, being collected by force through wages. Detailed records for specific individuals with amounts and dates. A selection of names and garnishment periods: > Jody Mullinix (ID 00218), Jenny Hurlbut, Drew Speer, Amber Smith, Deb Loomis, Amy Derifield, Tim Cary This document is a complete history of court-ordered wage garnishments from ACI employee paychecks over multiple years — with names, per-period amounts, and target payoff balances. The same files also contain the 401(k) retirement plan: - Plan ID: WF442008 (Wells Fargo) - Payroll Group: 6522 - Biweekly employee contributions (2008): $4,195 – $6,174 --- Part VI. The Medical Client Quotes prepared for Mahaska Health , a medical facility in Iowa. Quote 03486, October 2022: > Customer: Mahaska Health. Description: Patient Boards. Material: .015 Styrene. Size: 24 x 36. Quantity: 27. Price: $507.06. Quote 03726, July 2023: > Customer: Mahaska Health. Description: Medication Card. Size: 3.5 x 6.75. Material: ID Tyvek Stock. 500 units — $285.00 / 1000 units — $530.00. ACI point of contact: Len Searfoss, l.searfoss@acilab.com , 319-290-1922 . Orders from a medical facility — including product descriptions, pricing, and contact information — are in the archive. --- Part VII. Someone Else's Confidential Documents in Someone Else's Archive Technical documentation — one example being a Settlement Web Service specification. Every one of its five pages bears the same marking: > "CONFIDENTIAL/PROPRIETARY. The material contained in this document is the confidential information of Printable Technologies Inc., and contains proprietary intellectual property of the company. Any and all use of any of the material contained in this document is limited to the purpose(s) expressly permitted in writing by Printable Technologies Inc." This is not an ACI document. It belongs to Printable Technologies Inc. It describes an API for order settlement with integration to payment processor CyberSource . Three pages of protective disclaimers. On a five-page technical document. --- Who This Is Addressed To Government Agencies — IRS, Iowa Department of Revenue, Iowa Secretary of State ACI pays rent to two LLCs totaling $322,500 per year . Both LLCs are registered at ACI's address — 715 E 18th St, Cedar Falls, IA 50613. Both were financed by loans from ACI ($915,000 + $400,000). The owner of 18th Street Properties LLC is confirmed in the financial documents: Lisa Lane , co-owner of ACI. The name MLLL, LLC matches the initials of Mark Lane + Lisa Lane. ACI Employees The archive contains your data. Payroll records going back to 2004 — twenty-two years of files. Biweekly registers from 2015–2026 with names, amounts, and deductions. 401(k) contributions with plan identifiers. If you ever had a wage garnishment, it is here — with your name, the amount, and the date. Clients — Photo Studios and Photographers More than six thousand photo studios shared their contact information with ACI. The archive contains your phone numbers, email addresses, purchase volumes, payment history, and personal notes written by ACI staff about your accounts. Mahaska Health Your orders for Patient Boards and Medication Cards are in the archive along with your contact information. Printable Technologies Inc. Your confidential Settlement Web Service documentation is also in the archive.