Mark J. Hanna, P.C., Transferee - Page 15




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          the total net amount of the assets transferred from Associates PC            
          to Hanna PC, reduced by liabilities assumed by Hanna PC, was                 
          $17,943, as set forth below:                                                 

                        Assets Transferred                                            
                              Cash                      $15,626                        
                              Accounts Receivable       63,730                         
                              Office Equipment          4,295                          
                              Horse Option              4,000                          
                              Interest in a Lawsuit     10,000                         
                              Total Assets              $97,651                        
                        Liabilities Assumed                                           
                              Notes Payable             $39,821                        
                              Payroll Taxes Due         6,420                          
                              Salaries Payable          20,367                         
                              Accounts Payable          13,100                         
                              Total Liabilities         $79,708                        
                    Total Net Amount of                                                
                    Assets and Liabilities                                             
                         Transferred and Assumed        $17,943                        

               We also conclude that because Associates PC received only               
          rights worth $79,708 from Hanna PC (namely, Hanna PC's assumption            
          of Associates PC's liabilities in that amount), Associates PC did            
          not receive reasonably equivalent value for the transfer of its              
          assets to Hanna PC.                                                          
               With regard to whether Associates PC was insolvent on the               
          date of the transfer or was rendered insolvent pursuant to the               
          transfer of its assets to Hanna PC, under UFTA section 24.003(a)             
          a transferor is rendered insolvent if its liabilities are greater            
          than its assets after the transfer.  In the instant case,                    
          Associates PC had no remaining assets after the transfer, and                
          Associates PC had a $31,450 liability to respondent for Federal              





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