Estate of Burton W. Kanter, Deceased, Joshua S. Kanter, Executor, and Naomi R. Kanter, et al. - Page 416

                                                 -58-                                                   
            family members, and a large number of Kanter family trusts.  Exh.                           
            152, at  1, 2, 6, 7; Exh. 454.                                                              
                  Kanter did not report on his tax returns any sales of THC                             
            stock during the years at issue.  Exhs. 120-134.                                            
                  During 1981 to 1983, THC’s officers and directors included                            
            Kanter, Weisgal, Meyers, Gallenberger, and Joshua Kanter.  Exh.                             
            152.                                                                                        
                  b.  THC’s Tax Returns                                                                 
                  THC filed consolidated Federal income tax returns (and                                
            amended returns) reporting taxable income or losses for the years                           
            and in the amounts as follows:                                                              
            TYE                                                                                         
                        Aug. 31            Losses                                                       
                        1978            ($132,095)                                                      
            1979             (973,792) [amd.]                                                           
            1980               38,351                                                                   
            1981                –-                                                                      
            1982                –-                                                                      
            1983                –-                                                                      
            1984           (7,552,865)                                                                  
            1985           (5,930,863)                                                                  
            1986           (5,652,815)                                                                  
            1987           (6,166,172)                                                                  
                                                                                                       
            Exhs. 153-160.  THC’s tax returns for 1981 to 1983 are not                                  
            part of the record.                                                                         
                                                                                                       

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