Inverworld, Inc., et al. - Page 200

                                                 - 55 -                                                   
                        TYE June 30           Gross Receipts            Direct Costs                      
                        1988             1$15,139            2$4,521                                      
                        1989               5,026             - 0 -                                        
                  1  We have recategorized under "Commissions - T-bills" for                              
            taxable year ended June 30, 1988, the amount of $15,139 of gross                              
            receipts, which was originally categorized under "Other                                       
            Commission Income".                                                                           
                  2  We have recategorized under "Commissions - T-bills" for                              
            taxable year ended June 30, 1988, the amount of $4,521 of direct                              
            costs, which was originally categorized under "Interest Income".                              
                        k.     Wires and Checks                                                           
                  LTD charged its clients fees for transactions with third                                
            party banks.  For example, when a wire was sent or a foreign                                  
            check was received for deposit, the third party bank sometimes                                
            charged a transaction fee to LTD, which passed through the fee to                             
            the client, plus a transaction fee of its own.  Depending on the                              
            type of transaction, LTD added a $10 to $15 fee.  The gross                                   
            receipts and direct costs relating to LTD’s "Wire and Check Fees"                             
            for each taxable year are as follows:                                                         
                        TYE June 30        Gross Receipts    Direct Costs                                 
                        1987                   1$6,866        - 0 -                                       
                        1988               13,274             - 0 -                                       
                        1989               26,360             - 0 -                                       
                  1  We have recategorized under "Wire and Check Fees" for                                
            taxable year ended June 30, 1987, the amount of $6,866 of gross                               
            receipts, which was originally categorized under "Other Income".                              
                        l.     Gold and Silver Futures                                                    
                  LTD maintained a gold and silver futures operations for its                             
            clients.  The gross receipts and direct costs relating to LTD’s                               







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