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December 31, 1983. However, no activity under the research and
development (R&D) agreement occurred prior to December 31, 1982.
In 1982, Kellen worked primarily as an attorney and a bank
executive in the Fontana and Riverside areas of California. In
October 1982, Kellen was introduced by Eugene Pace (Pace), a
former neighbor and casual business acquaintance, to Coordinated
Financial Services (CFS) of Salt Lake City, Utah. CFS and Pace
represented a group of investors who were seeking someone to
serve as the general partner for a limited partnership with a
described purpose of conducting research and development of the
jojoba plant and its product, the jojoba nut (or bean). Pace
suggested to CFS that Kellen would be a suitable general partner
for the jojoba limited partnership.
Prior to his formation of U.S. Agri, discussed infra, Pace
was a financial planner. In 1968 Pace simultaneously formed
Gemini Financial Corp. (Gemini) and a brokerage/dealership called
GFCS, Inc. Through Gemini, Pace marketed life insurance and
securities in various forms. Gemini was also involved in the
promotion of syndications as tax-advantaged investments in the
form of limited partnerships. Among the many syndications
organized by Gemini were those involving investments in an orange
grove, apartment units, shopping centers, and egg-laying hens.
At Pace's suggestion, Kellen traveled to Salt Lake City,
Utah, to interview with members of CFS regarding the general
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