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 |
| 31000 | 21405 | - | 52405 |
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 | ||||
| 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).¶