Q. And after Defendants Greenlaw, Wissink, Obert mada presentation, then, was there a second vote? A. Yes. Q. And at the second vote, that's when they agreed tuse UDF IV's investors' money to satisfy the disgorgements that was agreed upon with the SEC? A. Yes. The business judgment that, at that time, iwas better to end the litigation with the SEC on a no admit-no deny basis and move forward with the company's business. Q. Was there an announcement to the UDF IV investors that their money was going to be used by these defendants to disgorge these defendants of the $7.2 million? MR. PELLETIER: Objection, your Honor. Relevance. THE WITNESS: I don't recall off the top of my head. THE COURT: Overruled. Go ahead and answer. (BY MS. EGGERS:) Q. Do you recall? A. I don't recall off the top of my head now.
