Axanar Response to Annual Report Analysis
Main article: Annual Report
See also: Crowdfunding platforms, Ambition vs. achievement
The Axanar Annual Report was a “valiant attempt at transparency [that] falls short of providing meaningful financial detail,” Axanar spokesman Mike Bawden said.
Responding to the findings of AxaMonitor‘s analysis of the report, Bawden characterized the report as a well-intentioned effort by Axanar producer Alec Peters gone awry:
Then there’s the fact that the report was prepared by management … rather than an accredited CPA [certified public accountant]. I’m sure Alec was just trying to save some money, but the appearance of a conflict of interest is as bad as a real one. And the things that were missed, in my opinion, are symptomatic of someone having to check his own work before publishing it.1)
Clarifying Income
Among the report’s omissions were non-Kickstarter donations and clarification of the financial arrangements between Axanar Productions and Peters’ other for-profit business, Propworx, Bawden said.
The financial arrangements made between Propworx and Axanar Productions needed to be spelled out in more detail, too. The way I understand that deal, it’s legit, but it’s not addressed completely and, as a result, serves a fertile ground for people who only see Alec as a con-man or crook.2)
The report’s lack of detail regarding income also left out money Peters has personally contributed to the project, Bawden added:
I asked Alec where he classified all of his personal money he’s put into the project. … It’s not in [the report]. I know of at least two other donations totaling over $5,000 that didn’t make it into the report because they weren’t given as part of a Kickstarter or in cash but rather in equipment or as payments for required services — things that should be identified as “non-cash” donations.3)
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