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2,774 shares in taxable year ended June 30, 1987. In one of its
brochures describing the Inversat Fund, LTD listed the San
Antonio office as its return address.
LTD charged its clients an initial placement cost based on a
sliding scale of 3.50 to 0.25 percent, depending upon the amount
of funds placed in the Inversat Fund. After the first year LTD
also charged an annual management fee of 1.00 percent of the
value of the assets under management. The gross receipts and
direct costs relating to LTD’s "Commissions Inversat" for each
taxable year are as follows (it is noted that the Inversat Fund
management fee was not charged until taxable year ended June 30,
1988, and is reported under the general "Management Fees"
category):
TYE June 30 Gross Receipts Direct Costs
1987 $86,762 $3,188
e. T.V. Answer
T.V. Answer (TVA) is an attachment for television sets that
uses radio signals to communicate with a minicomputer system.
With the attachment, consumers can use their televisions to order
movies, to purchase goods, to retrieve information, to respond to
polls, and the like.
TVA, Inc., was formed to exploit the commercial potential of
TVA. TVA, Inc., a Delaware corporation, was the wholly owned
subsidiary of Magus, Ltd., a Cayman Islands corporation, which
was in turn wholly owned by a trust.
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