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From 1985 through 1987, the only compensated employees of
ISS, Magnacad, and MFMC were Mr. Makalintal and Mr. Santos.
Petitioner was not, at any time, an employee of, nor was she paid
any compensation by, any of the above California corporations.
From 1985 through 1988, however, petitioner performed in the
Greenbrae home a limited amount of clerical work for ISS,
Magnacad, and MFMC. At Mr. Makalintal’s direction and under his
supervision, petitioner, at the Greenbrae home, would
occasionally enter data with respect to the California
corporations into a computer program that generated profit and
loss statements. Petitioner did not have any training or
experience with accounting, and petitioner did not understand
much of the data entered into the computer. Petitioner made no
analysis, and petitioner did not attempt to make an analysis, of
the profit and loss statements relating to the California
corporations.
Petitioner did not know whether the data Mr. Makalintal gave
her to enter into the computer was accurate and complete.
Mr. Makalintal did not discuss with petitioner any significant
aspects of the California corporations, and he did not permit
others to talk to petitioner about the California corporations or
businesses.
In March of 1986, Mr. Makalintal entered into a written
agreement to sell his 2 million shares of stock in ICPI to
Alfredo de Los Angeles for $3 million. No downpayment was due,
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