EXHIBIT 42¶
Fiscal Year Ending December 31, 2003¶
Company Name & Address: Financial Trust Company Inc. 6100 Red Hook Quarter B-3 St. [REDACTED] USVI 00802 Telephone No.: (340) 775-2525¶
Name / Signature of Preparer: Jeanne [REDACTED] (Name) Jeanne Bussan (Signature)¶
| Gross Sale (Ineligible Sales ) Eligible for Tax Benefits | $ - | $ 70,514,094 |
|---|---|---|
| Gross Wages Paid In the V.I. (Include vacation & sick pay, bonuses, overtime, etc.) | $ 741,385 | ✓ |
| Average No. of Employees; Full Time & (Part Time) | 11 ( - ) | |
| Average No. of Residents; Full Time & (Part Time) | 11 ( - ) | |
| Average No. of Non-Residents; Full Time & Part Time | - ( - ) | |
| Other Employee Cost (Unemployment & Health Insurance, Pension, Allowances, etc.) | $ 189,977 | ✓ |
| Employee Income Taxes Paid and Withheld | $ 211,258 |
TAXES AND DUTIES (Provide dollar amount paid, and value of exemption / refund for each tax)¶
| Gross Receipts: | Amount Paid | $ - |
|---|---|---|
| Dollar Value of Exemption | $ 2,820,564 | |
| Real Property Tax: | Amount Paid | $ - |
| Dollar Value of Exemption | $ - | |
| Excise Taxes: | Total Paid | $ - |
| Dollar Value of Exemption | $ - | |
| Income Taxes: | Total Paid | $ 2,859,613 |
| Dollar Value of Exemption | $ 26,215,499 | |
| Customs Duties: | Total Paid | $ - |
| Dollar Value of Exemption | $ - | |
| Other: | Hotel room taxes paid | $ - |
| Other Taxes, Fees Paid to V.I. Government | $ 102,041 = 1300 + 100,541 | |
| TOTAL TAXES PAID: | $ 2,960,154 | |
| TOTAL VALUE OF EXEMPTIONS AND/OR REFUNDS | $ 29,036,063 |
EXPENDITURES FOR GOODS, SERVICES, PLANT & EQUIPMENT¶
| Goods And Services | Eligible Suppliers | V.I. Suppliers | Non-Local | Total |
|---|---|---|---|---|
| Raw Materials, Components | - | - | - | - |
| Food, Beverages | - | - | - | - |
| Freight Charges | 27.04 | 104.91 | 25.00 | 15.95 (P ± 5) |
| Insurance | - | 23,515.84 | 2,349.65 | 25,865.49 Diff. |
| Legal / Accounting | 37,648.47 | 23,557.43 | 242,576.16 | 303,782.06 |
| Advertising / Promotion Utilities (Tel., Water, Elect., etc.) | - | 3,169.00 | - | 3,169.00 |
| Interest and Other Banking Charges | - | - | - | - |
| Supplies | 4,670.66 | 11,387.51 | 9,834.48 | 25,892.65 |
| Repairs / Maintenance | 1,669.50 | 5,942.27 | 3,396.81 | 11,008.58 |
| Other (List Separately ) | 81.90 | 2899/6.51 - 291,416.51 | 39,720.59 | 331,219.00 |
| Sub-total, Goods and Services: | 44,620.85 | 415,191.55 | 299,440.97 | 759,253.37 - 270,753.97 |
| Capital Expenditures: | ||||
| Building & Improvement | - | - | - | - |
| Leasehold Improvements | - | - | - | - |
| Machinery / Equipment | - | 12,905.80 | - | 12,905.80 |
| Furniture / Fixtures | - | - | - | - |
| Vehicles | - | - | - | - |
| Other (List Separately ) | - | - | - | - |
| Subtotal, Capital Expend. | - | 12,905.80 | - | 12,905.80 |
| GRAND TOTALS | 44,620.85 | 429,597.35 | 299,440.97 | 773,659.17 |
| CUMULATIVE CAPITAL EXPENDITURE UNDER IDC CERTIFICATE | 600,374.09 |
ECONOMIC DEVELOPMENT COMMISSION ANNUAL REPORT Fiscal Year Ending December 31, 2003¶
Other Expenditures¶
| Goods And Services | Eligible Supplier | V.I. Suppliers | Non-Local | Total |
|---|---|---|---|---|
| Dues | - | 1,352.74 | 249.00 | 1,601.74 beft #300 |
| Postage and delivery | 81.90 | 5,797.45 | 570.42 (P & S) | 6,449.77 ✓ |
| Travel and transportation | - | 10,391.41 | 3,396.62 | 13,788.03 beft #212 |
| market services | - | - | 35,504.55 | 35,504.55 ✓ |
| Charitable contributions | - | - | - | - |
| Company | - | 1,308.00 | - | 1,308.00 |
| Foundation | - | 179,885.50 | - | 179,885.50 |
| Co-op marketing | - | - | - | 12,500 ✓ |
| fee/compliance fees (4) | 12,500 | 14,000.00 | - | 14,000.00 ✓ |
| Rent | - | 78,681.41 | - | 78,681.41 all |
| Sub-total Other | 81.90 | 289,916.51 | ||
| 291,416.51 | 39,720.59 | 329,719.- ✓ | ||
| 221,219.00 |
(4) #12,500 → EDC CO-OP MARKETING FEES (4) #14,000 → + 1,500 → SPL FEES PAID TO GOVT.; COMPLIANCE FEES¶