- 48 -
value of the equipment and its useful life. Generally, we
found the testimony of both Messrs. Atkins and Biggs to be
vague and conclusory. For example, Mr. Atkins testified
as follows regarding his review of the Appraisal:
Q. Mr. Atkins, you said that you reviewed the
offering materials in connection with the
Roscrea Trust, in 1982. Did you look at any
appraisal information that was included with
that material?
A. There was an appraisal from a company,
Computer Graphics, or computer--something
like that.
Q. And what was your view of the appraisal that
you received from this company?
A. I feel that the appraisal was fair, given
the current situation of the equipment.
* * * * * * *
Q. Did you think it was appropriate to obtain
another appraisal, apart from the appraisal
that had been supplied with the offering
materials?
A. No.
Q. Why?
A. It looked--in my opinion, it looked
reasonable.
Q. As far as the price of the equipment; what
was your opinion about that?
A. The--in terms of the price of it, here
again, in my opinion, it looked realistic,
but one of the things about the group that
were investing in this thing, is that I
could seek other opinions, and which I did.
Page: Previous 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 NextLast modified: May 25, 2011