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4.5m - legitimate investment, Block III
1.5m - reserves, held by WexTrust
1.75m - operating reserves, held by WexTrust
0.3m - legal fees, managed by WexTrust
2.95m - commissions & fees to WexTrust

11m total goal - 4.8m to direct placement and legal, and 6.2m held by WexTrust, for fees and expenses, of which 3.99m was actually accounted for as being held by the company.

I don't know if the other 2.11 was already paid for legitimate expenses, was never raised or was mishandled. But there's a lot of explainable accounting being called fraud in this case.]]> Tue, 09 Jun 2009 00:03:00 -0400
4.5m - legitimate investment, Block III
1.5m - reserves, held by WexTrust
1.75m - operating reserves, held by WexTrust
0.3m - legal fees, managed by WexTrust
2.95m - commissions & fees to WexTrust

11m total goal - 4.8m to direct placement and legal, and 6.2m held by WexTrust, for fees and expenses, of which 3.99m was actually accounted for as being held by the company.

I don't know if the other 2.11 was already paid for legitimate expenses, was never raised or was mishandled. But there's a lot of explainable accounting being called fraud in this case.]]>