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Troubled Times, Inc.
Annual Report, 1998
During 1998, Troubled Times, Inc. grew by new members and the inclusion of several new projects accepted by the Board to request Grant Proposals under the Troubled Times, Inc. umbrella. A new place of business was approved and will become operational during the forthcoming year. Creative work was done toward the development of a video pole shifts, the historical record of these shifts, and the likelihood of one in the Earth's near future. Several cash gifts were accepted by the Board.
The Board approved several Grant Proposals during the year, notably 98-001, a Video Clip of the periodic pole shifts the Earth bears witness to, 98-002, a Seed Distribution support project which was funded by a 1998 gift, and 98-003, an Administration and Operation project seeking funding specifically to cover these annual costs. The potential of income from promotion of the movie The Passage, 1997 Grant Proposal 97-001, increased with word that a Hollywood director was reviewing the script.
A Gift Pool was established to hold cash gifts that come into the corporate PO Box in Fairbanks, Alaska. The Vice President elect is authorized to maintain this Gift Pool, transferring the funds on demand or when the Gift Pool reaches $1,000 to the Treasurer. One gift of $100 was allocated to support the Seed TEAM of Troubled Times to reimburse growers and distribution hubs for their postage costs.
A total of $1,600 in gifts was received during 1998, which offset a loss of $1,500 from apparent embezzlement by the former Treasurer, Diana Berger, a.k.a. Ferrizi, formerly of Pottsville, Pennsylvania. In resigning from her position as Treasurer, Diana returned the funds intrusted to her in the form of a check, which bounced. Ultimately, the President documented the situation in a video, sent to the Pottsville Police Department, and an arrest warrant was issued, still outstanding as of the end of 1998.
Balance Sheet
as of December 31, 1998Assets Assets $0.00 Retained Earnings 1997 $183.00 Cash and Bank Accounts $2,110.53 ------------ Total Assets $2,293.53 Liabilities Expenses $419.38 Loss Due to Fraud $1,500.00 ------------ Total Liabilities $1,919.38 ======= Total Equity $374.15 Income Statement
For Year of 1998Revenue $2,293.53 Expenses $1,919.38 ------------- Net Income $374.15 ======== Capitol Statement
For Year of 1998Capitol Net Income for Year $374.15 Less Withdrawals $0.00 ------------ Change in Capitol $374.15 ------------ Capitol December 31, 1998 $374.15 =======
The corporation at present does not do business in any state or country. Accordingly, no state income tax forms were filed, but an annual fee was paid to the State of Delaware. The Company Corporation acts as the corporate agent in the State of Delaware, a presence required by law.
A new place of business was established at a site soon to be occupied by the President elect. Operations to ensue from this place of business will include correspondence, telephone reception, clerical activity, printing and mailing brochures, distribution of videos, and on-site prototype development and tours. A Business License and Mailing Permit will be secured as this place of business moves into operational status.
Troubled Times, Inc. currently operates on the Internet and is staffed with volunteers. The official corporate address is a Post Office box in Fairbanks, Alaska, the resident city of the Vice President elect, Clipper. A corporate e-mail address based also at a local Fairbanks’s Internet Service Provider is gratis, a gift to the corporation. The corporation’s web page was designed Geson, a Board member resident in Sweden.
The corporation’s Secretary elect, Shirley, resides in Canada. The monthly Board of Directors Meetings is held via NetMeeting on the Internet. Corporate funds are maintained in a SunTrust bank in Atlanta, Georgia by the Treasurer elect, Brand. The corporate President elect, Nancy Lieder, orchestrates operations from her home in San Francisco, California, and Internal Audit head, Jan, reviews vouchers and receipts and corporate Bank Statements from Norway.
Directors are nominated by the membership, and elected during the annual elections held in February. Officers are likewise elected by the membership, but confirmed by the Board, at whose pleasure they serve.
Nancy Lieder, President Geson Clipper, Vice President Pat Brand, Treasurer Lyn Shirley, Secretary Ron Jan, Internal Audit Diana Gerard, Internet Communications (vacant)
All staff positions are appointed by the board at this time. Appointed positions at the end of 1998 include:
- Internal Audit, Jan
- contributed oversight of the Treasurer’s accounting and adequacy of the vouchering system
- Internet Communications
- connecting Board Members during meetings via NetMeeting, IRC, Instant Messaging, and handling net splits and other emergencies
- Secretary Proxy, Brand
- supported the Secretary by maintaining a lockbox for original corporate records on US soil, forseen as a possible state or federal requirement
The Company Corporation
1313 N. Market Street
Wilmington, Delaware 19801-1151