# EXHIBIT 50 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** Name/Signature of Preparer: Jeanne Deannon (Signature) Date: 10/11/11 Jeanne [Redacted] (Print Name) Telephone Number: 340-775-2525 ## FiscaUCalendar Year Ending December 31, 2010 Company Name- Financial Trusl Company. Inc ### PLANT II EQUIPMENT -Other EXPENDITURES FOR GOODS, SERVICES, | Goods and Services: | Eligible Supplier V.I. Suppliers | Non-Local | | Totals | | ------------------------------------- | ---------------------------------- | ----------- | ---------- | -------- | | Dues and subscribtions | 1070 | 569 | \$ | 1639 | | Seminars and education | | | 10630 \$ | 10630 | | Postage and delivery | 2305 | | \$ | 2305 | | Travel and related | 5149 | 101 | \$ | 5250 | | Meals and transponaIon | 6339 | | \$ | 6339 | | EDC Fees • Compliance, WDF. Renewal | 32500 | | \$ | 32500 | | BoE Territorial Scholarship Fund | 3000 | | | 3000 | | Rent | 101764 | | \$ | 101764 | | Other expenses | 586 | 76 | \$ | 664 | | Subtotal, Goods end Svcs: | 35500 117213 | | 11378 \$ | 164091 | ## EXPENDITURES FOR CHARITABLE CONTRIBUTORS | V.I. Educational Charitable contributions | V.I. Charity | fraliiiiiiImmtineememe | | Totals | | ------------------------------------------- | -------------- | ------------------------ | ---- | -------- | | | | 20000 | \$ | 124464 | **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 | [REDACTED] | Little Saint James St. Thomas 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 for [REDACTED] to the EDC Annual Report and reported under Taxes and Duties (See instructions). ### 0a cgsE g.O 2 Uk n0 (.014 2 2 2 .2o -c3lla- ## a Assistant Controller ECONOMIC DEVELOPMENT COMMISSION ANNUAL REPORT 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 All 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. [REDACTED] 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 | | Academic Scholarship Program | | | | 06/03/2010 Old Dominion University - IEKHS scholarship | | 10000 | | 06/03/2010 North Carolina A & T University - CAHS Scholarship | | 10000 | | | | 20000 | | | | 124464 | S0 : S1 :