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Date Amount
Aug. 31, 1987 $50,000
Oct. 22, 1987 75,000
Mar. 10, 1988 75,000
May 25, 1988 50,000
Jan. 17, 1989 125,000
May 26, 1989 125,000
Mar. 2, 1990 125,000
May 23, 1990 125,000
During the fiscal years ending May 31, 1984, through May 31, 1990,
Powertex claimed deductions on its Federal corporate income tax
returns for payments to Plus in the following amounts:
Fiscal Year
Ending Amount
May 31, 1984 $120,000
May 31, 1985 125,000
May 31, 1986 125,000
May 31, 1987 175,000
May 31, 1988 250,000
May 31, 1989 250,000
May 31, 1990 250,000
During the years 1983 through 1990, Plus' place of business was
located at 255 Beverley Avenue, Montreal, Quebec, Canada, which was
also used as a residence by Mr. Podd, Mrs. Podd, and Stephen during
such years. Additionally, Powertex deducted expenses for an office
maintained at the 255 Beverly Avenue address on its Federal
corporate income tax returns for the fiscal years ending May 31,
1984, through May 31, 1990. During the same period, however,
Powertex also maintained offices at the Rouses Point facility for
use by the Podds and Mrs. Podd.
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