Stephen H. Glassley and Judith Glassley, et al. - Page 14

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               and dealing with a relatively fewer number of acres in                 
               the R & D Program or any subsequent commercial venture                 
               will entail additional risks of casualty, economic and                 
               environmental problems and other matters, the risks of                 
               which could be absorbed or compensated for in an R & D                 
               Program or venture with a larger number of acres in                    
               various locations.                                                     
               Attached to the offering was a copy of a 33-page tax opinion           
          letter dated November 17, 1981, issued by Kaplan, Jacobowitz,               
          Hendricks & Bosse, P.A., a law firm located in Phoenix, Arizona,            
          which served at that time as counsel to HJI.  Projections                   
          calculated by HJI also were attached to the offering.  These                
          projections concerned the tax impact and possible returns to                
          partners based on various estimates and assumptions derived from            
          HJI's "past experience in developing a jojoba plantation, the               
          relatively limited yield data available and its research                    
          respecting the cultivation of jojoba."  Contrasting projections             
          were provided on the premise of the development of a 160-acre               
          plantation and sales of 22 partnership units and on the premise             
          of the development of a 464-acre jojoba plantation and sales of             
          60 partnership units.  Unexecuted copies of the certificate and             
          agreement of limited partnership and certificate of fictitious              
          name, subscription agreement, promissory note, offeree                      
          questionnaire, offeree representative questionnaire, research and           
          development agreement, option and joint venture agreement, option           
          and farm lease agreement, and farm lease were attached to the               
          offering.                                                                   






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