Proposals regarding BAC/DS

[Jay Blas Jacob Cabrera]

Hi Heather & Mel,

So two proposals that need to be voted on:

1) Heather you still need to vote on approving the reversal of the Spin off for Santa Cruz legendary.

2) I just talked to Ed Fund Deputy Director and he said that they have no way to pay us the 2.9% requested in terms of ending this fiasco with BAC/DS. It comes out to about $1,000. They feel that it is not up to them to oversee our money, and they just take the admin fees of all funds that comes in and encourage us to do the same. Of course we are not willing at this time to just take money from BAC or take them to court over the money. So that leaves our options as follows.
Option 1) To make a formal proposal to the Ed Fund to officially let us know their position on the 2.9% requested of the funds that were transfers to our accounts. This would get us an official response in writing even if they deny us.
Option 2) To just accept that Ed Fund will not pay us the money, and to go straight back to pursue BAC for the funds.

I am for option 1 myself which would be us as the Board officially proposing to the Ed Fund to give us 2.9% of the 8% of funds they got, that would end up at about $1,000 although we would have an exact number. Then they would have to officially send us back a written response that would document their reasonings for not being willing to work out this issue.

Unofficially there answer is pretty simple, once the money went into our accounts it was not their responsibility anymore. I kind of think that might be total BS because it is technically their money, they should know where their money is going no matter where it goes. The idea that it is not their responsibility anymore is kind of crazy, so I would prefer to get that in writing.

I thin that is it.

J

[Jay Blas Jacob Cabrera]

Hi All,

I just talked to Ed Fund Director and they said that they told BAC/DS not to put the money in an other non-profit account and that it is not their responsibility at all and that we should just take the 3% ourselves, and it is our problem.

So I will be checking in with Heather and Mel to see what we want to consider moving forward if we want to send an official proposal to Ed Fund or if we want to just go back to addressing the % admin fee calculations which are on-going.

More info coming soon.

I’ve been sick for a while but am feeling a bit better and getting back into it.

Jay

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