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financial_concerns [2017/03/07 15:53] – [Board of Directors?] updates to reflect information from Axanar corporate statements Carlos Pedrazafinancial_concerns [2019/01/02 15:56] – [Commingled Funds?] Carlos Pedraza
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 Peters had been promising the financial report was imminent for months, despite one committee member's statement that the report would be released when it [[financial_review_findings#disputed_report_release|was ready]], not on any schedule dictated by Peters. Peters had been promising the financial report was imminent for months, despite one committee member's statement that the report would be released when it [[financial_review_findings#disputed_report_release|was ready]], not on any schedule dictated by Peters.
  
 +<wrap indent lo>//**See Also: [[studio-financials|Months Later, 'Independent' Financial Report Mysteriously Disappears From Axanar Website]]**//</wrap>
 ==== Limited Scope ==== ==== Limited Scope ====
  
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 ===== 'Sloppy Accounting' ===== ===== 'Sloppy Accounting' =====
  
-For example, blogger Jonathan Lane of Fan Film Factor, a surrogate for Axanar attempted to explain away the salary Peters said in 2015 he had paid himself but during the lawsuit in 2016 he claimed was not a salary. According to Lane, the $41,000 Peters received in compensation didn't count as a salary since Peters was not an employee and no employment paperwork or employer taxes were filed with the IRS. Lane wrote:+For example, blogger Jonathan Lane of Fan Film Factor, often a surrogate for Axanar, attempted to explain away the salary Peters said in 2015 he had paid himself but during the lawsuit in 2016 he claimed was not a salary. According to Lane, the $41,000 Peters received in compensation didn't count as a salary since Peters was not an employee and no employment paperwork or employer taxes were filed with the IRS. Lane wrote:
  
 > Alec Peters never had Axanar Productions issue him a W4 [sic — it should be a W2], 1099, K-1, or any kind of tax form that would identify him to the IRS as an “employee” or “freelancer” or “equity partner” of any kind. Now, if you want to call it sloppy accounting, that’s fine.((Comment, [[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/#comment-6315|"Correction: It was not cheaper as far as I can tell for Axanar Productions to build a studio than to rent one"]], Fan Film Factor blog, 2/19/17.)) > Alec Peters never had Axanar Productions issue him a W4 [sic — it should be a W2], 1099, K-1, or any kind of tax form that would identify him to the IRS as an “employee” or “freelancer” or “equity partner” of any kind. Now, if you want to call it sloppy accounting, that’s fine.((Comment, [[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/#comment-6315|"Correction: It was not cheaper as far as I can tell for Axanar Productions to build a studio than to rent one"]], Fan Film Factor blog, 2/19/17.))
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 <WRAP> <WRAP>
-//**__<wrap lo>« Alec Peters never had Axanar Productions issue him any kind of tax form. … If you want to call it sloppy accounting, that’s fine. »</wrap>__**// <wrap indent>— //Jonathan Lane, Fan Film Factor//</wrap>+//**__<wrap lo>« Alec’s sexism and blistering arrogance led him to believe he could [take] over complete financial control. »</wrap>__**// <wrap indent>— //'Prelude' director Christian Gossett//</wrap>
 </WRAP> </WRAP>
- 
 ==== Disappearing Expenses ==== ==== Disappearing Expenses ====
  
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 > I’m pretty sure Alec wasn’t the only one not to bother setting up an individual bank account for production-related expenses. He should have, and I am told that is going to be remedied on a go-forward basis.((Comment,  [[http://fanfilmfactor.com/2017/02/13/an-interview-with-axanar-attorney-erin-ranahan/#comment-5923|"An Interview with Axanar Attorney Erin Ranahan"]], Fan Film Factor blog, 2/13/17.)) > I’m pretty sure Alec wasn’t the only one not to bother setting up an individual bank account for production-related expenses. He should have, and I am told that is going to be remedied on a go-forward basis.((Comment,  [[http://fanfilmfactor.com/2017/02/13/an-interview-with-axanar-attorney-erin-ranahan/#comment-5923|"An Interview with Axanar Attorney Erin Ranahan"]], Fan Film Factor blog, 2/13/17.))
 +
 +=== Early Warning ===
 +
 +However, according to //Prelude// director [[gossett-subpoena|Christian Gossett]], "Alec was advised on numerous occasions by [//Prelude// producer] Jhennifer Webberley … to do exactly what Lane advises here (and more)."(([[face>groups/axamonitor/permalink/162929204221935/?comment_id=163337724181083&comment_tracking=%7B%22tn%22%3A%22R0%22%7D|Christian Gossett comment]], AxaMonitor Facebook group, 3/6/17.))
 +
 +Even though proper management of the finances by Webberley was vital to //Prelude//'s success, Gossett said Peters didn't trust her. "Alec's sexism and blistering arrogance led him to believe he could do better than Jhennifer, and he took over complete financial control for Axanar," Gossett said on [[face>groups/axamonitor/permalink/162929204221935/?comment_id=163337724181083&comment_tracking=%7B%22tn%22%3A%22R0%22%7D|Facebook]]. "The inevitable loss of funds then follows."(([[face>groups/axamonitor/permalink/162929204221935/?comment_id=163337724181083&comment_tracking=%7B%22tn%22%3A%22R0%22%7D|Christian Gossett comment]], AxaMonitor Facebook group, 3/6/17.))
  
 === Not Helping === === Not Helping ===
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 > It wasn’t just the $100K for //Prelude// but more than a million dollars of additional donations plus <wrap hi>another hundred thousand of Alec’s personal investments. And it was all mixed together in one set of Quicken books.</wrap> … Unfortunately, he’d never bothered sorting out the “his” and “theirs” of the payments. As I said, definitely a mistake. … Alec was in over his head.((Comment, [[http://fanfilmfactor.com/2017/02/13/an-interview-with-axanar-attorney-erin-ranahan/#comment-5923|"An Interview with Axanar Attorney Erin Ranahan"]], Fan Film Factor blog, 2/13/17.)) > It wasn’t just the $100K for //Prelude// but more than a million dollars of additional donations plus <wrap hi>another hundred thousand of Alec’s personal investments. And it was all mixed together in one set of Quicken books.</wrap> … Unfortunately, he’d never bothered sorting out the “his” and “theirs” of the payments. As I said, definitely a mistake. … Alec was in over his head.((Comment, [[http://fanfilmfactor.com/2017/02/13/an-interview-with-axanar-attorney-erin-ranahan/#comment-5923|"An Interview with Axanar Attorney Erin Ranahan"]], Fan Film Factor blog, 2/13/17.))
  
-[{{ :jonathan-lane-headshot.jpg?nolink&150|**Jonathan Lane**}}]+[{{ :jonathan-lane-headshot.jpg?nolink&150|Axanar surrogate **Jonathan Lane**}}]
  
 == Repudiating Lane == == Repudiating Lane ==
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 Peter replied, "No, Jonathan Lane was not correct."(([[https://www.indiegogo.com/projects/axanar/x/9027520#/comments|Comments, Axanar Indiegogo page]], 2/25/17.)) Peters offered no further explanation, even though he had shown Lane the financials months before, and even though Peters repeatedly referred to Lane's blog as the most accurate, well-researched site covering Axanar. Peter replied, "No, Jonathan Lane was not correct."(([[https://www.indiegogo.com/projects/axanar/x/9027520#/comments|Comments, Axanar Indiegogo page]], 2/25/17.)) Peters offered no further explanation, even though he had shown Lane the financials months before, and even though Peters repeatedly referred to Lane's blog as the most accurate, well-researched site covering Axanar.
- 
 ===== Peters Not an Employee ===== ===== Peters Not an Employee =====
  
-<wrap lo>//See also: [[statement-information|Documents Reveal Axanar's Secret Corporate Structure]]//</wrap>+<wrap lo indent>**//See also: [[statement-information|Documents Reveal Axanar's Secret Corporate Structure]]//**</wrap>
  
 Lane's revelations raised still more questions about Axanar's corporate structure, particularly given his claim that "in the eyes of the Internal Revenue Service, Alec Peters was never considered an employee of Axanar Productions" because no employment paperwork had ever been filed.((Comment, [[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/#comment-6315|"Correction: It was not cheaper as far as I can tell for Axanar Productions to build a studio than to rent one"]], Fan Film Factor blog, 2/19/17.)) Lane's revelations raised still more questions about Axanar's corporate structure, particularly given his claim that "in the eyes of the Internal Revenue Service, Alec Peters was never considered an employee of Axanar Productions" because no employment paperwork had ever been filed.((Comment, [[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/#comment-6315|"Correction: It was not cheaper as far as I can tell for Axanar Productions to build a studio than to rent one"]], Fan Film Factor blog, 2/19/17.))
  
-That claim, however, sidestepped the questions of whether that paperwork //should// have been filed, given California law governing corporations like Axanar's.+That claim, however, sidestepped the question of whether that paperwork //should// have been filed, given California law governing corporations like Axanar's.
  
 ==== And Yet: 'A Full-Time Job' ==== ==== And Yet: 'A Full-Time Job' ====
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 <WRAP right round important 50%> <WRAP right round important 50%>
 {{ ::california-secretary-state.jpg?nolink&90|}} {{ ::california-secretary-state.jpg?nolink&90|}}
-<wrap lo><wrap em>UPDATE</wrap> **AxaMonitor** obtained copies of Axanar Productions Inc.'s Statements of Information filed with California Secretary of State. Despite Lane's claims, the documents show Alec Peters is the sole officer and director of the corporation. [[statement-information|Read more »]]</wrap>+<wrap lo><wrap em>UPDATE</wrap> **AxaMonitor** obtained copies of Axanar Productions Inc.'s Statements of Information filed with the California Secretary of State. Despite Lane's claims, the documents show Alec Peters is the sole shareholder, officer and director of the corporation. [[statement-information|Read more »]]</wrap>
 </WRAP> </WRAP>
  
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 > A corporation must have at least three directors, unless there are less than three shareholders. In that case, the number of directors may be equal to or greater than the number of shareholders. For example, if the corporation has only one shareholder, the number of directors may be one or two. If the corporation has two shareholders, the number of directors may be two (or three, which is the normal minimum).(([[http://www.dmlp.org/legal-guide/forming-corporation-california|"Forming a Corporation in California"]], Digital Media Law Project, retrieved 3/2/17.)) > A corporation must have at least three directors, unless there are less than three shareholders. In that case, the number of directors may be equal to or greater than the number of shareholders. For example, if the corporation has only one shareholder, the number of directors may be one or two. If the corporation has two shareholders, the number of directors may be two (or three, which is the normal minimum).(([[http://www.dmlp.org/legal-guide/forming-corporation-california|"Forming a Corporation in California"]], Digital Media Law Project, retrieved 3/2/17.))
  
-While Lane claimed, "Axanar Productions does indeed have a Board of Directors,"((Comment, [[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/#comment-6341|"Correction: It was not cheaper as far as I can tell for Axanar Productions to build a studio than to rent one"]], Fan Film Factor blog, 2/19/17.)) He [[statement-information|failed to name]] who was on the board. In fact, Lane went on to claim, "Alec does not own Axanar Productions and has never claimed to."((Comment, [[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/#comment-6341|"Correction: It was not cheaper as far as I can tell for Axanar Productions to build a studio than to rent one"]], Fan Film Factor blog, 2/19/17.))+While Lane claimed, "Axanar Productions does indeed have a Board of Directors,"((Comment, [[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/#comment-6341|"Correction: It was not cheaper as far as I can tell for Axanar Productions to build a studio than to rent one"]], Fan Film Factor blog, 2/19/17.)) he [[statement-information|failed to name]] who was on the board. In fact, Lane went on to claim, "Alec does not own Axanar Productions and has never claimed to."((Comment, [[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/#comment-6341|"Correction: It was not cheaper as far as I can tell for Axanar Productions to build a studio than to rent one"]], Fan Film Factor blog, 2/19/17.))
  
 === Mystery Board === === Mystery Board ===
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 ===== Filing for Nonprofit Status ===== ===== Filing for Nonprofit Status =====
  
-Despite advisor [[trekzone_spotlight|Bawden's public doubts]] about whether [[axanar_myths|seeking nonprofit status]] would confer any actual benefit to Axanar Productions, Peters appeared to move ahead with the application. According to Lane:+Despite advisor [[trekzone_spotlight|Bawden's public doubts]] in 2016 about whether [[axanar_myths|seeking nonprofit status]] would confer any actual benefit to Axanar Productions, Peters appeared to move ahead with the application. According to Lane:
  
 > The filing, I am told, is nearly ready. The person facilitating that process (a professional who helps companies with those kinds of filings) was going back and forth with the California Attorney General’s office trying to get one final piece of paperwork cleared so Axanar Productions could finally file. It’s been a long and frustrating wait, to be sure.((Comment, [[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/#comment-6341|"Correction: It was not cheaper as far as I can tell for Axanar Productions to build a studio than to rent one"]], Fan Film Factor blog, 2/19/17.)) > The filing, I am told, is nearly ready. The person facilitating that process (a professional who helps companies with those kinds of filings) was going back and forth with the California Attorney General’s office trying to get one final piece of paperwork cleared so Axanar Productions could finally file. It’s been a long and frustrating wait, to be sure.((Comment, [[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/#comment-6341|"Correction: It was not cheaper as far as I can tell for Axanar Productions to build a studio than to rent one"]], Fan Film Factor blog, 2/19/17.))
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 ---- ----
-**Keywords** {{tag>Nonprofit Financial Crowdfunding Analysis}}+<wrap right>**Keywords**</wrap> {{tag>Nonprofit Financial Crowdfunding Analysis Fact_check}}