# EXHIBIT 49

United States Virgin Islands



**ECONOMIC DEVELOPMENT COMMISSION ANNUAL REPORT**

Fiscal/Calendar Year Ending December 31, 2009

*Investors Dream*

Financial Trust Company, Inc.

| Gross Sales (Ineligible Sales) & Eligible for Tax Benefits .. | ( \$ - ) | \$ | 100000 |
| ------------------------------------------------------------------------------------- | ---------- | ---- | ----------- |
| Other Income (Ineligible) & Eligible for Tax Benefits | ( \$ - ) | \$ | -16947243 |
| Gross Wages Paid in the V.I. (Include vacation & sick pay, bonuses, overtime, etc.) |  | \$ | 718715 |
| Average No. of Employees; Full Time & (Part Time/Other)... | 10 |  |  |
| Average No. of Residents; Full Time & (Part Time/Other)... | 9 |  |  |
| Average No. of Non-Residents; Full Time & (Part Time/Other)... | 1 |  |  |
| Other Employee Costs (Unemployment & health insurance, pension, allowance, etc.) |  | \$ | 207563 |
| Employee Income Taxes Paid and Withheld |  | \$ | 191454 |

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

| **Gross Receipts:** | Amount Paid |  |  |
| -------------------------------------------------- | ------------------------------------------ | -- | ------ |
|  | Dollar Value of Exemption |  |  |
| **Real Property Tax:** | Amount Paid |  | 4000 |
|  | 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 |  |  |
| **TOTAL TAXES PAID:** |  |  | 1297 |
| **TOTAL VALUE OF EXEMPTIONS AND OR REFUNDS:** |  |  | 1297 |
|  |  |  | 4000 |

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

|  | Eligible Supplier | V.I. Suppliers | Non-Local | Totals |
| -------------------------------------- | ------------------- | ---------------- | ----------- | ----------- |
| **Goods and Services:** |  |  |  |  |
| Raw materials, components |  |  |  |  |
| Food, beverage |  |  |  |  |
| Freight Charges |  |  |  |  |
| Insurance | 2640 | 12124 | 3570 | \$ 18334 |
| Legal/ Accounting |  | 115143 | 382306 | \$ 497449 |
| Advertising / Promotion |  | 1798 |  | \$ 1798 |
| Utilities (tel., water, elect. etc.) |  | 35952 |  | \$ 35952 |
| Interest & Other Bank Chg. |  |  |  |  |
| Supplies | 3709 | 14454 | 806 | \$ 18969 |
| Repairs/Maintenance | 1521 | 4215 |  | \$ 5736 |
| Other (List Separately) | 19000 | 110425 | 395 | \$ 129820 |
| **Subtotal, Goods and Svcs:** | 26870 | 294111 | 387077 | \$ 708058 |
| **Capital Expenditures:** |  |  |  |  |
| Building & Improvements |  |  |  |  |
| Leasehold Improvements |  |  |  |  |
| Machinery / Equipment |  |  |  |  |
| Furniture / Fixtures |  | 10455 |  | \$ 10455 |
| Vehicles |  |  |  |  |
| Other (List Separately) |  |  |  |  |
| **Subtotal, Capital Expend:** |  | 10455 |  | \$ 10455 |
| **GRAND TOTALS** | 26870 | 304566 | 387077 | \$ 718513 |

**CUMULATIVE CAPITAL EXPENDITURES UNDER EDC CERTIFICATE**

Name/Signature of Preparer: Jeanne [REDACTED]
(Signature)
Jeanne [REDACTED]
(Print Name)

Date: 10/12/10

Telephone Number: 340-775-2525



Fiscal/Calendar Year Ending December 31.2009

Company Name: Fhancial Trust Company. Inc.

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

|  | **Eligible Supplier** | **V.I. Suppliers** | **Non-Local** | **Totals** |
| ---------------------------------- | -------------------------- | ----------------------- | ------------------ | --------------- |
| **Goods and Services:** |  |  |  |  |
| Dues and subscribitions | - | 1020 | 395 | 1415 |
| Seminars and education | - | 1328 | - | 1328 |
| Postage and delivery | - | 2284 | - | 2284 |
| Travel and related | - | 6518 | - | 6518 |
| Meals and transportation | - | 4311 | - | 4311 |
| EDC Fees | 19000 | - | - | 19000 |
| Rent | - | 93779 | - | 93779 |
| Other expenses | - | 1185 | - | 1185 |
| **Subtotal, Goods and Svcs:** | **19000** | **110425** | **395** | **129820** |

## EXPENDITURES FOR CHARITABLE CONTRIBUTIONS

|  | V.I. Educational | V.I. Charity | V.I. Foundation Funding | Totals |
| ------------ | --------------------- | --------------------- | ------------------------- | --------------------- |
| Company | 25000 | 14580 | - | 39580 |
| Foundation | 6000 | 6825 | - | 12825 |
|  | <b><u>31000</u></b> | <b><u>21405</u></b> | <b><u>-</u></b> | <b><u>52405</u></b> |

07/15/11



## EDC ANNUAL REPORT

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

BENEFICIARY Financial Trust Company, Inc. Fiscal Year Ending December 31, 2009

| 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 | [Redacted] | Little Saint James St. [Redacted] U.S. Virgin Islands | 100 |  | See page 1 of Economic Development Commission Annual Report |  |  |  |
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| **TOTALS** |  |  |  |  | \$ | \$ | \$ | \$ |

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).