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Gatetown's existence was reflected in other documents
maintained by Harris, including a copy of the Spanish version of
the agreement whereby TM sold its rights to the Medieval Times
concept to Gatetown for 3,000,000 pesetas. The “loans” from
Lince and Futureprom totaled $32,904.
Another document in Harris’ possession was titled “Gatetown
Limited Accounts for the Period Ended 30th April 1988". That
document contained the following:
PRINCIPAL ACTIVITY AND BUSINESS REVIEW
The principal activity of the Company is that of owners
of royalty and copyright agreements.
The Company acquired the rights to certain trade marks,
patents etc. which were transferred and assigned to the
Subsidiary Company [Manver] in exchange for the entire
issued Share Capital (the Subsidiary Company not having
any assets or liabilities previously) in addition to an
obligation to pay to the Company $760,000 each year for
5 years.
The Company is under obligation to its two shareholders
Futureprom N.V. and Lima [sic] N.V. to pay 95% of its
income to the two Companies.
The Company has had a satisfactory year and looks
forward to the future with confidence.
The document listed as Gatetown’s 1988 assets: $1.8 million as
“Investment in Subsidiary” and $3,131,200 as “Amounts owed by
Subsidiary Company”.
The October 8, 1990, letter from Harris to "HM Inspector of
Taxes" included the following information on royalty payments by
Gatetown:
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