The Monkees most lucrative venture the three had ever seen in their days as the Monkees, far surpassing the money they had made in the 1960s. Nesmith had little financial need to join in Monkees-related projects, mostly as his mother Bette Nesmith Graham was the inventor of Liquid Paper, leaving Nesmith an inheritance of over $25 million upon her death in 1980. A new album by the touring trio, "Pool It!" (the Monkees' tenth), appeared the following year and was a moderate success. From 1986 to 1989, the Monkees would conduct major concert tours in the United States, Australia, Japan, and Europe.
Michael Nesmith single "Joanne" which received some airplay and was a moderate chart hit for seven weeks during 1970, rising to number 21 on the Billboard Top 40. The First National Band has been credited with being among the pioneers of country-rock music. As he prepared for his exit from The Monkees in 1970, Nesmith was approached by John Ware of The Corvettes, a band that featured Nesmith's friend John London, who played on some of the earliest pre-Monkees Nesmith 45s as well as numerous Monkees sessions, and had 45s produced by Nesmith for the Dot label in 1969. Ware wanted Nesmith