Shannon D. Mullins - Page 4

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          and in February 2001, they began discussing the termination of              
          their association.  As petitioner testified:  “After my business            
          relationship started to dissolve with my business partner, I                
          approached him, either you buy me out or I buy him out”.                    
               The parties agreed that Mr. Taylor would purchase                      
          petitioner’s one-half interest in Edgington Mullins for $40,000,            
          effective on April 3, 2001.  On February 14, 2001, petitioner               
          faxed a letter to the Kentucky Board of Embalmers and Funeral               
          Directors and notified them that “an upcoming sale of the                   
          business is pending” and that he would not be operating the                 
          Edgington Mullins funeral business as of April 3, 2001.  The                
          parties did not enter into a written agreement evidencing the               
          sale of petitioner’s stock to Mr. Taylor at that time.                      
               Petitioner did not receive any payment of the purchase price           
          from Mr. Taylor on April 3, 2001.  According to petitioner, Mr.             
          Taylor was unable to secure the financing he needed to purchase             
          petitioner’s shares.  Although petitioner did not receive any               
          payment for his shares, he discontinued all his daily activities            
          for the business and claimed that he did not receive any profits            
          from the business after that date.  As petitioner testified:                
          “Your Honor, the deal was done April 3.  The only outstanding               
          issue was for him to get financing and pay me.  I reiterate, I              
          had nothing to do with this business whatsoever after April 3.  I           

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