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of filing the petition, petitioner resided in Atherton,
California.
Petitioner has a doctoral degree in political science and
master’s degrees in political science and nuclear defense
policies. Petitioner does not have a finance or accounting
background. Petitioner works in software development.
In 1997, petitioner and Bradley K. Morrison (Mr. Morrison)
formed a partnership, Prism Consulting Group (Prism), to develop
software for the health care industry. On August 12, 1998,
petitioner and Mr. Morrison organized Caspian, incorporated under
the laws of the State of California. By the end of 1998,
petitioner and Mr. Morrison transferred their partnership
interests in Prism to Caspian in exchange for all of Caspian’s
stock. During 1998 and 1999, Prism’s business operations were
taken over by Caspian.
During the years in issue, petitioner owned 60 percent of
Caspian’s stock and served as the chief executive officer and
president on the board of directors. Mr. Morrison owned the
remaining 40 percent and served as chief technologist and
secretary and treasurer on the board of directors. Petitioner
and Mr. Morrison were the sole members of the board of directors.
During the years in issue, Caspian hired Cameron & Rolling
to handle its accounting and tax matters. Craig Rolling (Mr.
Rolling) was part owner of Cameron & Rolling. He received his
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