Yes something like that but still alot of debt for the time. And Wayne had had constant setbacks getting the company off the ground. He just wanted out.
$30,000 in 1970 is equivalent in purchasing power to about $212,095.36 today, an increase of $182,095.36 over 51 years. The dollar had an average inflation rate of 3.91% per year between 1970 and today, producing a cumulative price increase of 606.98%.