Stephen D. Podd - Page 53

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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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