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and BWK, Inc., preferred shares were issued to the BK Children's
Trust, the beneficiaries of which were members of Kanter's
family.
C. Holding Co.
Holding Co. was incorporated on December 8, 1976. Holding
Co. owned several subsidiary corporations, including the Citra
Co., Active Business Corp., HELO, LBG Properties, Inc., The
Nominee Corp., Oil Investments, Ltd., Tanglewood Properties,
Inc., and Zion Ventures, Inc.
Kanter, his family, and trusts established for the benefit
of his family, including the Bea Ritch Trusts and the Everglades
Trusts,8 owned substantially all of the stock in Holding Co.
Kanter, Weisgal, Meyers, and Linda Gallenberger
(Gallenberger) most often served as directors and officers of
Holding Co.
Holding Co.'s end-of-year balance sheets indicate the
following stockholder equity attributable to the preferred and
common stock:
Year Common Preferred Paid-in
Class A Class B Class C Class D Capital
1979 $23 $775 $3 $50,000 -- $407,087
1980 23 775 3 50,000 1,500,000 407,087
1981 23 775 3 50,000 -- 407,087
8
The Everglades Trusts 1-5, shareholders in Holding Co., were
grantor trusts in which Kanter was the deemed owner under secs.
671 through 678.
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