| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| UBI REFUND DUE | 13,779,537 | 12,257,755 | 12,257,755 |
| PROMISSORY NOTES | 533,333 | 293,333 | 293,333 |
| DEFERRED UBI TAX ASSET | 25,915,000 | 30,415,000 | 30,415,000 |
| FEDERAL EXCISE TAX REFUND DUE | 0 | 260,000 | 260,000 |