# EXHIBIT 8

United States Virgin Islands



**ECONOMIC DEVELOPMENT COMMISSION ANNUAL REPORT**

**Fiscal/Calendar Year Ending December 31, 2010**

*Investors Dream*

Financial Trust Company, Inc.

| Gross Sales (Ineligible Sales) & Eligible for Tax Benefits ... | ( \$ - ) | \$ 100000 |
| ------------------------------------------------------------------------------------- | ---------- | -------------- |
| Other Income (Ineligible) & Eligible for Tax Benefits | ( \$ - ) | \$ -24347719 |
| Gross Wages Paid in the V.I. (Include vacation & sick pay, bonuses, overtime, etc.) | \$ | 793923 |
| Average No. of Employees; Full Time & (Part Time/Other)... | 10 |  |
| Average No. of Residents; Full Time & (Part Time/Other)... | 10 |  |
| Average No. of Non-Residents; Full Time & (Part Time/Other)... | - |  |
| Other Employee Costs (Unemployment & health insurance, pension, allowance, etc.) | \$ | 260798 |
| Employee Income Taxes Paid and Withheld | \$ | 224495 |

**TAXES AND DUTIES (Provide dollar amount paid, and value of exemption/refund for each tax)**

| **Gross Receipts:** | Amount Paid | \$ | 400 |
| -------------------------------------------------- | ------------------------------------------ | ---- | -------------- |
|  | **Dollar Value of Exemption** |  | **3,600** |
| **Real Property Tax:** | Amount Paid |  | - |
|  | **Dollar Value of Exemption** |  | - |
| **Excise Taxes:** | Total Paid |  | - |
|  | **Dollar Value of Exemption/Refund** |  | - |
| **Income Taxes:** | Total Paid |  | - |
|  | **Dollar Value of Exemption/Refund** |  | - |
| **Customs Duties:** | Total Paid |  | - |
|  | **Dollar Value of Exemption/Refund** |  | - |
| **Other:** | Hotel room taxes paid |  | - |
|  | Other Taxes, Fee Paid to V.I. Government | \$ | 1297 |
| **TOTAL TAXES PAID:** |  | \$ | 1297 |
| **TOTAL VALUE OF EXEMPTIONS AND OR REFUNDS:** |  | \$ | 3600 |

**EXPENDITURES FOR GOODS, SERVICES, PLANT & EQUIPMENT**

|  | Eligible Supplier | V.I. Suppliers | Non-Local | Totals |
| -------------------------------------- | ------------------- | ---------------- | --------------- | ---------------- |
| **Goods and Services:** |  |  |  |  |
| Faw materials, components |  |  | \$ | - |
| Food, beverage |  |  | \$ | - |
| Freight Charges |  |  | \$ | - |
| Insurance | 16202 | - | 2943 | 19145 |
| Legal/ Accounting | - | 29736 | 685544 | 709280 |
| Advertising / Promotion | - | 1435 | - | 1435 |
| Utilities (tel., water, elect. etc.) | - | 44355 | - | 44355 |
| Interest & Other Bank Chg. |  |  | \$ | - |
| Supplies | 4641 | 20590 | 1017 | 26248 |
| Repairs/Maintenance | 5431 | 3235 | - | 8666 |
| Other (List Separately) | 35500 | 117213 | 11378 | 164091 |
| **Subtotal, Goods and Svcs:** | **61774** | **210563** | **700882** | **973219** |
| **Capital Expenditures:** |  |  | \$ | - |
| Building & Improvements |  |  | \$ | - |
| Leasehold Improvements |  |  | \$ | - |
| Machinery / Equipment | 18305 | 17498 | 15042 | 50844 |
| Furniture / Fixtures |  |  | \$ | - |
| Vehicles |  |  | \$ | - |
| Other (List Separately) |  |  | \$ | - |
| **Subtotal, Capital Expend:** | **18305** | **17498** | **15042** | **50844** |
| **GRAND TOTALS** | **80079** | **228061** | **715924** | **1024064** |

**CUMULATIVE CAPITAL EXPENDITURES UNDER EDC CERTIFICATE** 756208

Name/Signature of Preparer: Jeanne Deannon (Signature) Date: 10/11/11
 Jeanne [Redacted] (Print Name) Telephone Number: 340-775-2525



## FiscaUCalender Year Ending December 31, 2010

Company Name- Financial Trust Company. Inc

### PLANT & EQUIPMENT -Other EXPENDITURES FOR GOODS, SERVICES,

| Goods and Services: | Eligible Supplier V.I. Suppliers | Non-Local |  | Totals |
| ------------------------------------- | ---------------------------------- | ----------- | ---------- | -------- |
| Dues and subscriptions | 1070 | 569 | \$ | 1639 |
| Seminars and education |  |  | 10630 \$ | 10630 |
| Postage and delivery | 2305 |  | \$ | 2305 |
| Travel and related | 5149 | 101 | \$ | 5250 |
| Meals and transponaion | 6339 |  | \$ | 6339 |
| EOC Fees • Compliance, WDF, Renewal | 32500 |  | \$ | 32500 |
| BoE Territorial Scholarship Fund | 3000 |  |  | 3000 |
| Rent | 101764 |  | \$ | 101784 |
| Other expenses | 586 | 78 | \$ | 664 |
| Subtotal, Goods and Svcs: | 35500 t17213 |  | 11378 \$ | 164091 |

### EXPENDITURES FOR CHARITABLE CONTRIBUTORS

| V.I. Educational Charitable contributions | V.I. Charity | mosiinickhiditimirveraii |  | Totals |
| ------------------------------------------- | -------------- | -------------------------- | ---- | -------- |
| 33700 | 70764 |  |  |  |
| 33700 | . 70764 |  |  |  |
|  |  | 20000 | \$ | 124464 |

CONFIDENTIAL SUBJECT TO PROTECTIVE ORDER

UNITED STATES VIRGIN ISLANDS



## EDC ANNUAL REPORT

### Value of Exemptions of Stockholders/Partners/Members

**BENEFICIARY** Financial Trust Company, Inc. **Fiscal Year Ending** December 31, 2010

| Stockholders, Partners or Members | Social Security No. | Physical Address | % Distributable Shares | EDC Income | Business Activity | Total Tax Due | EDC Credit | Balance Tax Due |
| ----------------------------------- | --------------------- | --------------------------------------------------- | ------------------------ | ------------------------------------------------------------- | ------------------- | ----------------- | ------------ | ----------------- |
| Jeffrey E. Epstein |  | Little Saint James St. Thomas U.S. Virgin Islands | 100 | See page 1 of Economic Development Commission Annual Report |  |  |  |  |
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|  |  |  |  |  |  | **TOTAL** \$ | \$ | \$ |

Note: Totals of EDC Credit and Balance Tax Due must be carried forward to the EDC Annual Report and reported under Taxes and Duties (See instructions).



VI-JPM-00006068

Financial Trust Company
Summary of Jobs by Specific Classification

Management

Office Manager
Controller
President

Supervisory

Assistant Controller

Technical

Network Administrator
Senior Researcher

Fiscal/Calendar Year Ending

12/31/2010

Financial Trust Company, Inc.

| Date | Charitable Organization | Amount |
| --------------------------------------------------------------- | ------------------------- | --------------- |
| 01/22/2010 St. [REDACTED] Baseball Explorers |  | 1000 % |
| 01/01/2010 Voided check [REDACTED] Saints School |  | -600 % |
| 03/16/2010 Virgin Islands Montessori School |  | 2900 % |
| 03/16/2010 Antiles School, Inc. |  | 5000 % |
| 03/16/2010 Sts. Peter & Paul Catholic School |  | 200 % |
| 03/16/2010 Sts. Peter & Paul Catholic School |  | 800 % |
| 03/23/2010 Spruve School Fundraiser |  | 500 % |
| 04/13/2010 The V. I Police Department |  | 3500 % |
| 04/13/2010 Sts. Peter & Paul Catholic School |  | 250 % |
| 04/13/2010 Community Foundation of the V. I. |  | 1500 % |
| 05/14/2010 Wesley Methodist Church |  | 100 % |
| 05/25/2010 V.I. Tennis Association |  | 5000 % |
| 05/25/2010 Rwanda Project USVI, Inc. |  | 7500 % |
| 06/08/2010 Community Foundation of the V. I. |  | 3000 % |
| 06/15/2010 USVI Dept. of Education |  | 500 % |
| 06/15/2010 Friends of the St. Thomas Public Libraries |  | 5000 % |
| 06/17/2010 St. [REDACTED] Majorities, Inc. |  | 100 % |
| 06/22/2010 Friends of the St. Thomas Public Libraries |  | 1000 % |
| 06/22/2010 Beacon Schools of the VI, Inc. |  | 5000 % |
| 06/22/2010 Virgin Islands Olympic Committee |  | 2000 % |
| 07/13/2010 Prophecy Academy, Inc. |  | 500 % |
| 07/26/2010 Elrod Hendricks Charter |  | 5000 % |
| 08/03/2010 V. I. Volteyball Federation |  | 2500 % |
| 08/11/2010 St. [REDACTED] Swimming Associations, Inc. |  | 3000 % |
| 08/13/2010 V.I. Humanities Council |  | 1000 % |
| 08/13/2010 Caribbean Islands Education Foundation |  | 2000 % |
| 08/13/2010 St. [REDACTED] - St. John Chamber of Commerce |  | 200 % |
| 08/13/2010 Saint Croix Foundation |  | 2500 % |
| 08/13/2010 V. I. Council for the Boy Scouts |  | 2500 % |
| 08/13/2010 Lutheran Social Services of the V. I. |  | 2500 % |
| 08/13/2010 V. I. Dept. of Education |  | 2000 % |
| 08/13/2010 Community Foundation of the V. I. |  | 500 % |
| 08/13/2010 Humane Society of St. [REDACTED] |  | 1000 % |
| 08/13/2010 Habitat for Humanity of the U.S.V.I. |  | 1000 % |
| 09/01/2010 The Kingshire School |  | 5000 % |
| 09/01/2010 Humane Society of St. [REDACTED] |  | 5000 % |
| 09/14/2010 Antiles School, Inc. |  | 3000 % |
| 09/14/2010 J.J.I.C.E. Flag Football Camp, Inc. |  | 2500 % |
| 10/18/2010 Future Stars Baseball Organization |  | 1000 % |
| 10/18/2010 Dept. of Human Services - CFS |  | 1000 % |
| 10/26/2010 Zero Tolerance Basketball Org. Inc. |  | 3864 % |
| 10/26/2010 Schneider Regional Medical Center |  | 1500 % |
| 11/15/2010 Rising Stars Youth Steel Orchestra |  | 300 % |
| 12/21/2010 The Good Hope School |  | 2500 % |
| 12/21/2010 United Way of St. [REDACTED] - St. John |  | 3500 % |
| 12/21/2010 Lutheran Social Services of the V. I. |  | 2850 % |
| 12/21/2010 We Grow Food, Inc. |  | 1000 % |
| Total charitable expenditures |  | 104464 |
| <b>Academic Scholarship Program</b> |  |  |
| 06/03/2010 Old Dominion University - IEKHS scholarship |  | 10000 |
| 06/03/2010 North Carolina A & T University - CAHS Scholarship |  | 10000 |
|  |  | <u>20000</u> |
|  |  | <u>124464</u> |

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