Monday, May 03, 2010 2:51:45 PM
Dear Melissa,
We have not missed any filing deadlines for our funding agreement. The target of 90 days is just that, a target. Q3 was sent to the filing agent Friday afternoon. As soon as the auditors finish Q4 and year end which they think will be this week they will be filed.
Mr. Farr received no cash compensation in 2009. My receipt was $5,000 for 2009, a period when I was paying college and parochial school tuition for four kids. We have also received only $3,000 this year against our management fee obligations. Mr. Farr and I lent ARSC $8,000 in April to cover Company expenses. We also took stock as a partial compensation against unpaid fees. If you want to see where the money goes read the Annual reports on form 10-K which are audited and the Quarterly reports on form 10-Q which are reviewed by the Auditors.
Thank you for your interest. Please feel free to call or email us anytime,
Frank Neukomm
CEO
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