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A As I tried to explain to you earlier, the 50
percent was a 50/50 ownership in property and a 50
percent in participation. I tried to explain that to
you, and I thought you understood it.
Q I must not have, sir. I apologize.
A He did not put any money up. He didn’t put a dime
up to the best of my knowledge. I put the money up.
Q But now, he purchased the property. Correct?
A No.
Q In terms of the expertise--he selected the
property? Excuse me.
A He selected the property.
Q He selected the property?
A I paid for the property.
Q Okay. And so he just gifted his interest to you?
I mean, I understood the deal was 50/50 initially.
A He didn’t have any interest. His interest was in
the developing part of it.
* * * * * * *
Q * * * On the Narcoossee property, if Mr. Medlin
had a financial statement that showed that he was a 50
percent interest or owned half of the Narcoossee
property, would you say that that was correct.
A Sure. That was our understanding--I tried to
explain that--when we first started.
But to protect my interest it was necessary for me
to assume the 100 percent, as I had put the money in,
100 percent of the property.
Q I understand, sir.
A And all of the money he has taken out of it, the
original investment has never been paid back. I know
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