Carnegie Development Inc. (CDJM)

[F4Uvet]

A few of the "Highlights from the 10-K

First, look carefully at the financial statement

Then read some of the statements.....



Technologies Used to Provide Services

We believe that the initial SOLVE service offering will be accomplished through the integration of the following software technologies:

"Targeting" software - used to pinpoint consumers' physical location and market availability; available from numerous vendors.

THEN READ THIS CAVEAT>>>>>>

EFFECTS OF EXISTING OR PROBABLE GOVERNMENT REGULATIONS ON OUR BUSINESS

As Internet commerce continues to evolve, increasing regulation by federal, state or foreign agencies may become more likely and our business may be subject to increase regulation in the area of data privacy, and laws and regulations applying to the solicitation, collection, processing or use of personal or consumer information. Any such laws could result in a decline in the use of the Internet and the viability of Internet-based products and services, which could harm our business and operating results.
DEPENDENCE ON ONE OR A FEW MAJOR CUSTOMERS

We presently do not have any customers for our services as we are still a development stage company.



3. LEGAL PROCEEDINGS

On February 10, 2000, the Texas Workforce Commission placed an administrative lien on us in the amount of $109,024 in connection with a claim for unpaid compensation by our former employees.

A default judgment was taken against us in favor of Marathon Oil Company on August 31, 1999 in the amount of $326,943 representing past and future rentals under a lease agreement, together with $7,500 in attorney's fees and post judgment interest at 10% per annum until paid, credit towards the judgment was ordered for sale of personal property by the Sheriff or Constable. We believe the personal property sold for approximately $28,000. To the extent that the property was leased during the unexpired term, it is possible that there would be a mitigation of the damages claim in our favor. We believe that some or all of the space was subsequently rented approximately 90 days later. The remaining $306,443 has been accrued in our financial statements under the heading Judgments payable.


Name and Principal Position

ALL IN THE FAMILY Hefty salary for a business that has no business

Total ($)

Gary F. Kimmons(1)

CEO, CFO and

2008

300,000 60,000 N/A N/A N/A N/A 135,000 495,000
Chairman of the Board

2007
240,000 50,000 N/A N/A N/A N/A N/A 290,000
Lance Kimmons,

2008
88,000 N/A N/A N/A N/A N/A N/A 88,000N/A
Director

2007
N/A N/A N/A N/A N/A N/A N/A N/A
Kathryn Kimmons

2008
85,300 N/A N/A 85,300N/A
Secretary and Director

2007