Expo Holdings Inc. (EXPH)

[Santa Barbara Broker]

....why didn't they go to the IRS

underdog, D&D's sold asset proceeds may well have gone to the IRS in their entirety. I am making the assumption that since government property taxes step to the front of every lien line including that of a mortgage holder, Uncle Sam may well step to the front of this one as well. Particularly where citizen's withheld SS/MC benefits and income tax payments are concerned. It's almost certain that Nafe bought the assets for next to nothing at a "no reserve" type auction. He did so most likely for two reasons: 1) to get the stuff out of his building so he could rent it to someone else and 2) so he could hold the assets back for Brown and Harrs until they get their personal debts resolved, start another scam company and come back to repurchase them from Nafe with a ton of new stock. Then Nafe turns over the equipment to Brown and Harrs, cashes in on hundreds of thousands in scam shares and everybody is right back where they started scamming in 2005.

That IRS lien will remain up until it is satisfied in full or some sort of payment deal is worked out with Brown and Harrs. I doubt the Nafe buyout money even put a dent in it and if I remember correctly, it can't be discharged through bankruptcy so Harrs and Brown will probably end up having to pay it off with stock proceeds through whatever new scam they dream up. Or they might end up getting honest work and chipping away at it a couple bucks at a time...NOT. LMAO.