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Subject to the caveats stated below, the following table
shows as of the valuation date ADDI&C's assets and liabilities,
the historical cost basis and the fair market value of each such
asset, and ADDI&C's net asset value:
Historical
Asset Cost Basis Fair Market Value
Feeder cattle, cost $6,474,368 $8,074,368
Breeding herd, net 1,072,843 1,894,400
Winn-Dixie stock 338,283 70,043,204
DDI stock 120,263 535,162
Total equipment, net 172,999 130,294
Other assets 1,295,539 1,295,539
Total assets 9,474,295 81,972,967
Total liabilities 1,832,698 1,832,698
Net asset value 7,641,597 80,140,269
The fair market value of ADDI&C's Winn-Dixie stock and its net
asset value that are shown in the foregoing table do not reflect
any type of discount or adjustment with respect to that stock
which is attributable to blockage and/or SEC rule 144 (blockage
and/or SEC rule 144 discount). Nor do the fair market value of
each of ADDI&C's assets and its net asset value that are shown in
the foregoing table reflect any type of discount or adjustment
which is attributable to, inter alia, lack of a controlling
interest, lack of marketability, or the Federal and State income
tax (ADDI&C's built-in capital gains tax) that ADDI&C would have
incurred at a combined tax rate of 37.63 percent on the gains as
of the valuation date on ADDI&C's assets (i.e., the difference
between the historical cost basis and the fair market value of
each of its assets, hereinafter referred to as ADDI&C's built-in-
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Last modified: May 25, 2011