On further questioning, Ms. Herring testified that the 2004 general ledger did not indicate any income or revenue, nor did it indicate any operational expenses paid out by the company in 2004.... "And then in 2004, there are no expenses, so the bulk of it is made up in the transactions that were recorded as of December 31st, 2003," Ms. Herring testified, later adding that the beginning accumulated deficit balance from 2002 was $3.4-million.
No expenses huh? What about the nine holes they supposedly drilled or the advertising on the race cars last year?
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