Ian G. Koblick and Tonya A. Koblick - Page 6

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          1970s, the vessel was submerged off the coast of Puerto Rico.               
          Mr. Koblick was involved as director of the PRINUL program during           
          the early-to-mid portion of the 1970s.  Eventually, by the mid-             
          1970s, funding for the PRINUL program ceased, and John Perry                
          reclaimed the vessel.  La Chalupa ended up in dry dock storage in           
          south Florida.  During 1982, an individual, Russ Hobson,                    
          undertook extensive renovations of the vessel at a cost of                  
          approximately $300,000.  Mr. Hobson intended to use the vessel              
          for a salvage operation in South America.  Mr. Hobson later                 
          became financially imperiled and abandoned the project.  In 1984,           
          Mr. Koblick and Dr. Monney acquired the vessel from the Derecktor           
          Gunnell shipyard by paying $20,000 towards an outstanding yard              
          bill.  The vessel was then transferred to a corporate entity,               
          Jules Habitat, Inc.  Mr. Koblick and Dr. Monney were the                    
          shareholders of Jules Habitat, Inc.  Mr. Koblick and Dr. Monney             
          together invested an additional $80,000 in 1986 into the project.           
               By the end of 1986, a total of $400,000 had been invested              
          into the renovation project (comprising $300,000 invested by Mr.            
          Hobson, $20,000 to acquire the vessel from Derecktor Gunnell, and           
          $80,000 to convert the vessel into a habitat and acquire                    
          operational systems).  The collective renovations undertaken by             
          Mr. Hobson, Mr. Koblick, and Dr. Monney converted the vessel into           
          an undersea habitat or “lodge” with two suites and a common room.           







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