GPC minutes

[Davey Jung]

Dear Partners,

 

 

Past Saturday, we all decided to dissolve the partnership.  Below is the list of key discussion points + additional items determined outside of the meeting:

 

1)      All stocks to be sold at market opening 4/27 – done  (see screen print below)

2)      Scottrade and bank accounts to be closed + partnership to be dissolved with City of AA  – this week.

3)      All partners agreed to accept any future liabilities associated with the partnership.  I plan to write up an agreement. 

4)      Total fund to be distributed equally.  However, Choi JY will be  kept whole through equal contribution by all partners – calculation as below.

5)      Peter Kim agreed to issue 2015 K1 tax forms next spring.  Today’s sale is not showing up in the account, but we will likely have a net realized loss – will go towards lowering your 2015 taxable income.  

 

Distribution calculation:

 

1)      Below calculation is an estimate.  Any fees (if any) associated with dissolution of the partnership may impact this amount.   

2)      Please see the green highlighted area to see your estimated distribution. 

3)      Checks will be issued within the next week – date TBD.

 

Hope this was a good experience for everyone.  I certainly enjoyed the meetings, learned a lot from each of you and made a little $$ in the process.   

Thanks to everyone, but in particular, Peter Kim, Brian Choi, and Gi Chun for your contribution AND to all our spouses for their great “snacks”.  Please use the distribution on your wives  !! 

 

 

 

 

 

 

 

 

 

 

 

 

 

Davey Jung

Purchasing, Sales, Product Engineering

Hino Motors Manufacturing U.S.A., Inc.

248-442-6876 (B)      859-954-0427 (M)