Created this portfolio for client to use on his iPad.

1. ITS INVESTOR PORTFOLIO
FLOW CHART
BUSINESS PLAN
CHECKS
MEMORANDUM
LEGAL DOCUMENTS
PNL 'S
FINANCIALS
KEY NUMBERS
BANK ERROR
INVESTMENT BREAKDOWN
ITS
Internal Tax Service

2. FLOW CHART
ITS FLOW CHART
ITS
Internal Tax Service

4. BUSINESS PLAN
ITS FLOW CHART
ITS
Internal Tax Service

5. ITS
Internal Tax Service
M I S S I ON
“To maximize returns for investors through strategic investment
in the Georgia tax deed market.”
Executive Summary
Internal Tax Service (the “Company”) is a U.S. based real estate investment firm that is primarily focused on the
Georgia tax deed market, providing investors with a high ROI from the repayment of taxes and penalties through tax
deed sales. Through the cooperation of local county governments, ITS’ property tax redemption process, and
subsequent ownership and resale of high valued homes at severely discounted prices, the company’s versatile
approach will enable an investor the benefit of consistent returns and a steady stream of income backed by tangible
assets.
When a property owner cannot pay property taxes, the state or county often places a lien on the property for the
taxes owed plus penalties and administrative fees. Investors may then purchase the liens or deeds and receive
payment for that amount plus interest. In the event a property owner still does not repay the back taxes and
penalties, the lien/deed holder may foreclose on the property and gain the title, thereby acquiring property at a cost
often well below market value. Internal Tax Service, Inc. entered this market in 2009, purchasing valuable deeds on
ideal properties through its founder’s real estate expertise and vision for profitable returns.
Services
Internal Tax Service focuses only on the opportunity available in the state of Georgia because of the favorable tax
deed laws there, as well as the state’s high number of delinquent properties. Georgia is unique in its “hybrid” model
for handling delinquent properties where investors can invest in the deed via the bidding process and are allowed to
charge a government enforced penalty. Perhaps the most unique and compelling element to investing in ITS and tax
deeds in Georgia is that the county awards FIRST PRIORITY LIEN POSITION to the company or individual who buys
the deed at auction.
That “POSITION” along with our company’s ICR (Inter-Company Redemption) process forces the bank, mortgage
company or owner to pay us our statutory 20% penalty or lose the property 1 in an accelerated foreclosure process.
The owner of the property has to take immediate action and the necessary steps to recover their property rights
back. This allows ITS to have complete leverage on the property and investment strategy.
1 Smith, Elizabeth. NuWire Investor. “Georgia Tax Deeds.” April 2007. Obtained at: http://www.nuwireinvestor.com/articles/georgia-tax-deeds-51021.aspx.

6. Market Analysis Summary
Tax deeds are a consistent way for any investor to make a steady return on their money but based on specific market
conditions in Georgia, the Company’s management believes the time has never been better to invest in this geographic
location. The city of Atlanta in particular is attractive to focus on; not only based on the county’s internal procedures
but ITS has also established favorable relationships within the local government and is able to exercise the highest level
of due diligence in the investment screening process.
The city is the second fastest growing metropolitan area in the nation, and has experienced particularly explosive
growth over the last decade, according to the Atlanta Regional Commission (ARC). 2 During the last eight years alone
the city has added 1.1 million people to its population. The following chart from ARC demonstrates the city’s rapid
growth since 1990, and projects future growth through 2040. Growth is clearly expected to continue at rapid pace
over the next 30 years. 3
2 Atlanta Regional Commission 2009. Obtained at: http://www.atlantaregional.com/info-center/arc-region.
3 Atlanta Neighborhood Development Partner. Obtained at: http://www.andpi.org/.

7. Strategy and Implementation Summary
Internal Tax Service will perform thorough due diligence on each potential investment, through tax lien research
(www.GSCCCA.com) accurate assessments (CMA’s) and any potential legal ramifications (title searches) thereby
mitigating investment risks. The Company will place particular emphasis on properties with a mortgage, though will
consider some without. Internal Tax Service will focus on properties that can be sold immediately after purchase.
Internal Tax Service has assessed its current competition and can ensure an even greater ROI if provided with an
appropriate infusion of capital. The Company realizes that there are several organizations and local investors who will
compete for choice properties and try to find hidden “gems” throughout the counties involved. Most of these
companies and people have limited resources in both their finances and research efforts. If Internal Tax Service is put
in a position of financial strength at each auction, it will be able to frequently outbid its competition, maintaining a
larger property portfolio and providing larger returns to investors. Also, by employing more realtors and a larger
research staff, the Company can find, locate, and verify the select properties that will provide large profit margins for
minimal cost. By selecting choice properties it will not only allow for greater redemptions but ensure solid
investments.
Investor Distribution and Breakdown
ITS will offer investors a 10 -12% rate of return on their principal paid out quarterly. We will pay an additional 8-10%
on the portion of the principal that result in a foreclosure and sale. The principal will be vested with the company for a
required 18 month period before any attempt at redemption. Your principal will be guaranteed against the properties
we purchase with those particular funds and agreed upon by both parties in a formal contract (deed to secured debt)
before investing. Any and all companies that ITS is associated with in order to make these transactions and returns
possible will be held to the same agreement aforementioned.
Conclusion
The Company purchases tax deeds that amount to well below the market value of the property in question, thereby
ensuring a large return on investment regardless of the means through which the lien/deed is satisfied. ITS will either
earn 20% on their investment collecting penalties and interest within 1 to 12 months or sell the properties acquired
through quiet title and foreclosure via the Company’s real estate brokerage division. This steady flow of revenue
assures investors we will be able to pay their guaranteed interest and all agreements and principal are backed by
company assets and tax deed ownership.
Management Summary
Todd Lipton, Director of Operations
Mr. Lipton has an extensive background in finance, sales and management. Todd was previously an equities trader with
T3Capital, a commodities trader on the floor in New York in the mid 90’s and following those positions was an
Account Manager in Sales at TEKsystems. He managed an IT sales delivery team and was responsible for building a
base of clients in the finance and communications industries. He now pursues the endeavors of ITS full time.
Daniel Lipton, Chief Executive Officer
Currently, Mr. Lipton trades commodities as well as owns and operates a nightclub that encompasses 40,000 square
feet and employs more than 120 individuals. Daniel holds financial series 5, 7, and 63 licenses. Prior to this venture,
Mr. Lipton owned and operated a floor trading operation at the New York Board of Trade for 20 years where he
oversaw 30 professional traders. He also owns and oversees businesses involving social media, technology and finance.

8. CHECKS
ITS FLOW CHART
ITS
Internal Tax Service

12. MEMOMORANDUM
ITS FLOW CHART
ITS
Internal Tax Service

13. MEMORANDUM
RE: United Capital Financial of Atlanta, LLC v. American Inv. Associates, Inc., 302 Ga.App. 400, --- S.E.2d ----, 2010 WL 522690
(2010).
ISSUE: What is the effect of the captioned case on tax deed investors?
BACKGROUND OF CASE
The United Capital case was decided by the Georgia Court of Appeals on February 16, 2010. The issue before the court
was which party had priority to claim the excess tax sale proceeds remaining after a tax sale.
Georgia law states that the excess tax sale funds are first paid out to any lienholders of the property sold for taxes, and
then to the delinquent taxpayer if there are any funds remaining.
Generally, the first lien filed of record gets priority over all other liens filed later in time. However, the law makes certain
exceptions and gives some later in time liens priority over earlier liens. The most common example is a lien for real
estate taxes. In certain situations, Georgia law gives a one paying off a tax deed (called a redemption) lien in the amount
paid to redeem a property that is superior to all other liens, which is commonly referred to as a super lien.
STATEMENT OF FACTS
American Investment Associates claimed it held a first priority lien on the property because it held a judgment lien
against the delinquent taxpayer originally filed in 1992.
United Capital claimed it held a “super-priority” lien which was superior to American Investment Associates because it
redeemed the tax deed from the original tax deed purchaser.
United Capital redeemed the tax deed at issue after taking assignment of assignment of a debt for $71.00 from Dynamic
Recovery Services, a collection agency, on the day of the tax sale. United Capital did not redeem as a lienholder, and only
as a creditor, which, until this case was decided, had significance as to whether a redeeming party obtained a super lien
or a standard lien.
American Investment Associates challenged the super priority lien claimed by United Capital, and the Court had to
decide whether or not United Capital in fact held a super priority lien.
O.C.G.A. § 48-4-41 deals with redemptions by creditors without a lien. It states that in such a case, the creditor shall
have a claim against the property for the amount advanced by him to redeem the property “if, there is any sale of the
property after the redemption under a judgment in favor of the creditor.” It is unknown whether a claim is the same as
a lien.
In the United Capital case, the creditor without a lien (United Capital) did redeem the property, but it never obtained a
judgment on the debt, and the property was not sold under such judgment. United Capital asserted in the suit that it
should be afforded the super priority lien anyway. The trial court rejected this claim on the grounds that the debt had
not been reduced to judgment, nor had the property been sold under such judgment. On appeal, the Court of Appeals
decided in favor of the redeeming creditor without a lien in holding that even though it had no judgment on the debt,
United Capital obtained a super lien when it redeemed the property as a creditor.
The Court focused on the language of O.C.G.A. § 48-4-43 which says that a redemption made “by any creditor” gives it a
“first lien on the property” and in essence ignored the qualifying language of O.C.G.A. § 48-4-41 that requires creditors
without liens to first have obtained a judgment and also to have sold the property under that judgment.
CONCLUSION
The case gives any creditor who redeems a tax deed a super lien without first having to satisfy the requirements to first
obtain a judgment and also sell the property under that judgment. The practical effect is two-fold. First, the super lien
gives the redeeming creditor the right to the excess tax sale funds, such that the only real money the redeeming party is
out is the 20% redemption premium. Second, the redeeming creditor has a first lien on the property, which it can
foreclose by judicial foreclosure and wipe out any other liens on the property by banks or other lien holders.

14. LEGAL DOCUMENTS
ITS FLOW CHART
ITS
Internal Tax Service

15. Ga. Code Ann., § 48-4-45 Page 1
West's Code of Georgia Annotated Currentness
Title 48. Revenue and Taxation (Refs & Annos)
Chapter 4. Tax Sales (Refs & Annos)
Article 3. Redemption of Property Sold for Taxes (Refs & Annos)
§ 48-4-45. Notice to foreclose right to redeem; time; holders of unrecorded titles, etc.; heirs
(a) After 12 months from the date of a tax sale, the purchaser at the sale or his heirs, successors, or assigns may terminate, foreclose, divest, and
forever bar the right to redeem the property from the sale by causing a notice or notices of the foreclosure, as provided for in this article:
(1) To be served upon all of the following persons who reside in the county in which the property is located:
(A) The defendant in the execution under or by virtue of which the sale was held;
(B) The occupant, if any, of the property; and
(C) All persons having of record in the county in which the land is located any right, title, or interest in, or lien upon the property;
(2) To be sent by registered or certified mail or statutory overnight delivery to each of the persons specified in subparagraphs (A), (B), and (C)
of paragraph (1) of this subsection who resides outside the county in which the property is located, if the address of that person is reasonably
ascertainable; and
(3) To be published, if that tax sale occurs on or after July 1, 1989, in the newspaper in which the sheriff's advertisements for the county are
published in each county in which that property is located, which publication shall occur once a week for four consecutive weeks in the six-
month period immediately prior to the week of the redemption deadline date specified in the notice.
(b) Nothing contained in this Code section shall be construed to require that any notice be sent to or served upon any person whose right, title,
interest in, or lien upon the property does not appear of record in the county in which the land is located.
(c) The heirs of any deceased owner of any land entitled to notice pursuant to this Code section shall be served by the sheriff or notified as
provided in this article.
CREDIT(S)
Laws 1937, p. 491, § 2; Laws 1978, p. 309, § 2; Laws 1989, p. 1391, § 1; Laws 2000, p. 1589, § 3.
Formerly Code 1933, § 91A-434.
HISTORICAL AND STATUTORY NOTES
The 2000 amendment provided for use of statutory overnight delivery as an alternative to certified mail.
LAW REVIEW AND JOURNAL COMMENTARIES
Comment: Learning to Live with Jones v. Flowers: A “New Wrinkle” for an Old Standard. C. Jordan Myers, 57 Emory L.J 463 (2008).
LIBRARY REFERENCES
Taxation 708(4).
Westlaw Key Number Search: 371k708(4).
C.J.S. Taxation §§ 740, 856.
RESEARCH REFERENCES
Encyclopedias
Ga. Jur. Property § 35:73, Foreclosure of Right of Redemption; Notice.
Ga. Jur. Property § 35:75, Ripening of Tax Title by Prescription.
Forms
9 Brown Georgia Pleading, Prac. & Legal Forms Anno. § 48-4-42, Redemption Amount.
9 Brown Georgia Pleading, Prac. & Legal Forms Anno. § 48-4-21 Form 1, Deed by County.
1 Pindar's Ga. Real Estate Law & Proc. with Forms § 4-48, Tax Sales.
1 Pindar's Ga. Real Estate Law & Proc. with Forms § 4-51, Redemption of Tax Sales.
© 2010 Thomson Reuters. No Claim to Orig. US Gov. Works.

16. Ga. Code Ann., § 48-4-45 Page 2
Treatises and Practice Aids
Georgia Real Estate Finance and Foreclosure Law § 11-7, The Non-Judicial Procedure: Redemptions.
Georgia Real Estate Finance and Foreclosure Law App. A, Statutory Materials.
NOTES OF DECISIONS
Construction and application 1
Due process 2
Failure to foreclose right of redemption 6
Failure to provide notice 7
Lien holders 7.5
Persons entitled to notice 3
Publication 5
Reasonably ascertainable address 4
Review 8
1. Construction and application
After expiration of the statutory period for redemption, the right to redeem may be barred either by the filing of a notice of barment, or the
ripening of title pursuant to statute allowing title under tax deed to ripen by prescription. BX Corp. v. Hickory Hill 1185, LLC, 2009, 285 Ga. 5,
673 S.E.2d 205. Taxation 3013; Taxation 3075
Once transferee of purchaser of real property at a sale for delinquent ad valorem taxes gave notice under the barment statutes to all interested
parties that their rights of redemption would expire and be barred as of one year after the tax sale purchase of the property, and all interested
parties elected not to redeem the property within the redemption period, transferee held indefeasible fee simple title to the property. National
Tax Funding, L.P. v. Harpagon Company, LLC., 2003, 277 Ga. 41, 586 S.E.2d 235. Taxation 3039
The effect of expiration of the redemption period and bar of the right of redemption is to vest the purchaser of real property at a tax lien sale
with an absolute and unconditional title to the land, provided such title was owned by the original owner, and the tax sale was valid. National
Tax Funding, L.P. v. Harpagon Company, LLC., 2003, 277 Ga. 41, 586 S.E.2d 235. Taxation 3039
After the expiration of the twelve-month period to redeem property following a tax sale, the right to redeem may be barred by notice of
foreclosure of the right to redeem or the ripening of title by prescription. O.C.G.A. §§ 48-4-40(1), 48-4-45, 48-4-48. Mark Turner Properties,
Inc. v. Evans, 2001, 274 Ga. 547, 554 S.E.2d 492, reconsideration denied. Taxation 3001; Taxation 3013
One seeking to bar right of redemption based on tax sale purchase must comply with statutory notice requirements. O.C.G.A. § 48-4-45.
Blizzard v. Moniz, 1999, 271 Ga. 50, 518 S.E.2d 407. Taxation 3014
Statute setting forth procedure for giving notice of foreclosure of right to redeem following tax sale requires that 12 months elapse before right
to redeem property is foreclosed and before notice of right to foreclose the right shall be served. O.C.G.A. § 48-4-45. Wallace v. President
Street, L.P., 1993, 263 Ga. 239, 430 S.E.2d 1. Taxation 3013
2. Due process
Requirement that delinquent taxpayers pay redemption amount of $112,516 to redeem property sold at tax auction to satisfy $2,000 in unpaid
taxes, before they could challenge the tax sale, did not violate delinquent taxpayers' right to due process or opportunity to be heard, particularly
since they were not given actual notice of tax sale until after it took place; due process did not require actual notice, rather it required notice
reasonably calculated to apprise taxpayers of pendency of the action, and to afford them opportunity to object, and personal service on
delinquent taxpayers satisfied those requirements. Saffo v. Foxworthy, Inc., 2009, 2009 WL 4015606.
The statutory allowance of other than actual notice of tax sale of property for unpaid taxes, did not violate delinquent taxpayers' due process as-
applied by sheriff; taxpayers had actual notice when they met with representative of tax sale purchaser three years prior to barment date, and
any remedy for alleged defects in sheriff's implementation of tax sale process would be a suit against the sheriff, and not against the property's
new owner or its manager. Saffo v. Foxworthy, Inc., 2009, 2009 WL 4015606.
Mere published notice of foreclosure of right to redeem property sold at tax sale did not satisfy requirements of due process with respect to
owners of security deed who lived outside county in which property was located. O.C.G.A. §§ 48-3-9(a, b), 48-4-40, 48-4-45(a), 48-4-46(b, c);
U.S.C.A. Const.Amend. 14. Funderburke v. Kellet, 1988, 257 Ga. 822, 364 S.E.2d 845. Constitutional Law 4148; Taxation 3019
3. Persons entitled to notice
One seeking to bar redemption of property sold for nonpayment of taxes must comply with statutory notice requirements. Washington v.
McKibbon Hotel Group, Inc., 2008, 284 Ga. 262, 664 S.E.2d 201, reconsideration denied. Taxation 3013
Purchaser of property at tax sale was required to give landowner corporation notice of intent to foreclose owner's statutory right of redemption,
though corporation had been administratively dissolved; owner's corporate status was later reinstated, and this reinstatement related back to
time of dissolution. O.G.C.A. §§ 14-2-504(a), 14-2-1422, 48-4-45. H & C Development, Inc. v. Bershader, 2001, 248 Ga.App. 546, 546 S.E.2d
907, certiorari denied. Corporations 615.5; Corporations 630(.5); Taxation 3016
© 2010 Thomson Reuters. No Claim to Orig. US Gov. Works.

17. Ga. Code Ann., § 48-4-45 Page 3
4. Reasonably ascertainable address
Genuine issue of material fact existed regarding whether landowner's new address, which appeared in county's tax records, was “reasonably
ascertainable,” for purposes of sending landowner notice of foreclosure of right to redeem property sold at tax sale, precluding summary
judgment in landowner's action to redeem property. O.C.G.A. § 48-4-45(a)(2). H & C Development, Inc. v. Bershader, 2001, 248 Ga.App. 546,
546 S.E.2d 907, certiorari denied. Judgment 181(32)
5. Publication
In determining whether notice of foreclosure of right to redeem property sold at tax sale was published four times in six months preceding
week in which right of redemption would be foreclosed, Supreme Court could take judicial notice that notation “10/12-11/2,” which appeared
at end of copy of published notice, was one customarily employed in legal advertisements to show dates of publication. O.C.G.A. §§ 24-1-4,
48-4-45(a)(3). GE Capital Mortg. Services, Inc. v. Clack, 1999, 271 Ga. 82, 515 S.E.2d 619. Evidence 21
Record showed that tax sale purchaser met statutory requirements concerning notice of foreclosure of right of redemption, even though
statement in purchaser's summary judgment affidavit that notice was published “as required by law” did not establish compliance as fact
because it did not state his personal knowledge that notice was published four times in six months preceding week in which right of redemption
would be foreclosed, and did not state dates on which notice was published; copy of notice attached to affidavit showed on its face when it was
published and that notice was published four times during appropriate period, in light of notation “10/12-11/2,” which appeared at end of
published notice. O.C.G.A. § 48-4-45(a)(3). GE Capital Mortg. Services, Inc. v. Clack, 1999, 271 Ga. 82, 515 S.E.2d 619. Judgment
185.1(4)
6. Failure to foreclose right of redemption
Tax deed grantee failed to foreclose the right of redemption by failing to comply with statutory notice requirements. O.C.G.A. § 48-4-45.
Blizzard v. Moniz, 1999, 271 Ga. 50, 518 S.E.2d 407. Taxation 3014
Transferee of security deed to property subsequently purchased by tax deed was entitled to redeem property where purchaser of property by tax
deed failed to foreclose right to redeem. O.C.G.A. § 48-4-45. Leathers v. McClain, 1986, 255 Ga. 378, 338 S.E.2d 666. Taxation 3008
7. Failure to provide notice
Defects in following the notice provisions of the tax sale statute may give an injured party a claim for damages, but will not render the tax sale
or the deed therefrom void. Saffo v. Foxworthy, Inc., 2009, 2009 WL 4015606.
Defects in following the notice provisions of the tax sale statute may give an injured party a claim for damages, but will not render the tax sale
or the deed therefrom void. Davis v. Harpagon Co., LLC, 2006, 281 Ga. 250, 637 S.E.2d 1, reconsideration denied. Taxation 3072(4)
Validity of tax sale purchaser's foreclosure of right of redemption was not affected by purchaser's failure to serve notice of foreclosure on
debtor, who was defendant in fi. fa.; creditor had foreclosed upon debtor's interest in property prior to issuance of tax fi. fa., and thus, debtor's
interest did not appear of record in county when foreclosure of right of redemption was begun. O.C.G.A. § 48-4-45(a)(1)(A), (b). GE Capital
Mortg. Services, Inc. v. Clack, 1999, 271 Ga. 82, 515 S.E.2d 619. Taxation 3016
Former owner of property that was sold to county at tax sale was barred from collaterally attacking validity of county's ownership of property,
where he never tendered redemption price and there was nothing in record to indicate that taxes, which formed basis for tax sale, were not due
at time of sale or that county failed to provide proper notice or service of its bar of redemption. O.C.G.A. §§ 48-4-45, 48-4-47. Hill v. Mayor &
Aldermen of City of Savannah, 1998, 233 Ga.App. 742, 505 S.E.2d 35, reconsideration denied , certiorari denied. Taxation 3039
Property owners were entitled to opportunity to redeem property sold at tax sale, though final redemption date had passed, to extent they had
not received required 30-day advance notice of bar date. O.C.G.A. § 48-4-46. Dixon v. Conway, 1993, 262 Ga. 709, 425 S.E.2d 651. Taxation
3016
7.5. Lien holders
Tax deed holder failed to establish by documentary record that he foreclosed all rights of redemption on subject property consistent with
statutory notice requirements, and therefore, purchaser who acquired the interest of a prior tax deed grantee with notice only that tax deed
holder held an inchoate or defeasible title was a good faith purchaser for value without notice. Washington v. McKibbon Hotel Group, Inc.,
2008, 284 Ga. 262, 664 S.E.2d 201, reconsideration denied. Taxation 3014
After transferee of purchaser of real property at a sale for delinquent ad valorem taxes invoked the barment statutes and the one-year
redemption period expired, the taxpayer no longer had any interest in the subject property, and thus, former lien holder's tax lien, which covered
only “property in which the taxpayer had an interest” was divested from and could no longer be enforced against the property. National Tax
Funding, L.P. v. Harpagon Company, LLC., 2003, 277 Ga. 41, 586 S.E.2d 235. Taxation 2743; Taxation 3039
8. Review
Although a trial court must make the initial determination of the legality of notice to landowner of purchaser's foreclosure of right to redeem
property sold at tax sale, appellate courts must independently decide whether under the facts of each case the search for the absentee interested
party was legally adequate. O.C.G.A. § 48-4-45. H & C Development, Inc. v. Bershader, 2001, 248 Ga.App. 546, 546 S.E.2d 907, certiorari
denied. Taxation 3050
Allegation that party claiming title by adverse possession was not entitled to notice of foreclosure of right to redeem property would not be
considered on appeal where not raised in trial court in action by party claiming title by adverse possession to recover property. O.C.G.A. §
48-4-45. Southerland v. Bradshaw, 1986, 255 Ga. 455, 339 S.E.2d 579. Appeal And Error 170(1)
Current through Acts 346 through 350 and 353 through 360 of the 2010 Regular Session
END OF DOCUMENT
© 2010 Thomson Reuters. No Claim to Orig. US Gov. Works.

18. PNL 's
ITS FLOW CHART
ITS
Internal Tax Service

19. 6854 Derby Ave. City, GA 00000

20. 6854 DERBY
LEGAL
DATE EXPENSE PAYMENT DESCRIPTION BALANCE
5/28/10 $1,250.00 1ST FLAT FEE INSTALLMENT $1,250.00
5/28/10 $1,250.00 1ST FLAT FEE INSTALLMENT $0.00
7/16/10 $2,500.00 2ND FLAT FEE INSTALLMENT $2,500.00
7/22/10 $2,500.00 2ND FLAT FEE INSTALLMENT $0.00
7/23/10 $11.00 COURT FILING FEES $11.00
FEES FOR CONTESTED ISSUES
INCLUDING Many conversations w/
Ayoub and Client; in office meeting w/
client; research to locate underlying
owners; drafting QCD's for underlying
owner, forming new LLC and numerous
conversations w/client re strategy for
7/29/10 $750.00 same. $761.00
8/13/10 $32.00 COURT FILING FEES $793.00
$4,543.00
DEED
Purchased on County Steps - Taxes
11/3/09 $50,000.00 Saitsfied were $3,462.21
LIEN
5/27/10 $2,415.08 TCFC Cashier's check
9/2/10 $5,280.54 Conduit Law Firm Cashiers check
TOTAL $62,238.62
COLLECTED
7/16/10 $42,003.05 Overage Collected
???? Sale of Home (pending)
TOTAL $42,003.05
TOTAL NET PROFIT -20235.57
Home valued at 95K…on market for 89K
lowest offer will be 81K and we'll use that
$81,000.00 assumption for our business model
$2,430.00 3% commission
$78,570.00 Expected NET PROFIT on home

21. 3880 Wolf Creek Circle City, GA 00000

22. WOLF CREEK
LEGAL
DATE EXPENSE PAYMENT DESCRIPTION BALANCE
5/28/10 $1,250.00 1ST FLAT FEE INSTALLMENT $1,250.00
5/28/10 -$1,250.00 1ST FLAT FEE INSTALLMENT $0.00
6/22/10 $265.50 COURT FILING FEES $265.50
7/16/10 $2,500.00 2ND FLAT FEE INSTALLMENT $2,500.00
7/22/10 -$2,500.00 2ND FLAT FEE INSTALLMENT $0.00
7/22/10 $120.00 PUBLICATION COSTS $385.50
7/26/10 $865.00 SERVICE OF PROCESS FEES $1,250.50
8/24/10 $1,250.50 $0.00
$4,735.00
DEED
Purchased on County Steps - Taxes
12/1/09 $40,000.00 satisfied were $ 2,452.84
LIEN
5/27/10 $1,736.43 TCFC Cashier's check
TOTAL $51,206.43
COLLECTED
5/4/10
7/16/10 36,197.66 Overage Collected
8/12/10 Invoice 55653.63
8/31/10 $53,719.58 Redemption Check From C link (1934.05 short )
TOTAL $89,917.24
TOTAL NET PROFIT 38710.81

23. FINANCIALS
ITS FLOW CHART
ITS
Internal Tax Service

24. First Fiscal Year In Business (September 2009 - September 2010)
Facts $ $ $ Description
We collect recycled $ through our ICR
process. This money is received from the
county, re-invested and accounts for the
difference between capital vested and cash
Cash Spent $700,000.00 spent
Capital Vested
Year 1 $586,000.00 3 Investors (DBL, MSL, DZC)
Revenue $53,524.99 9 redemptions
$38,710.81 1 Double Dip
$58,334.43 1 Sale
Total Revenue $150,570.23
Expenses $25,000.00 Legal
$18,000.00 Liens
$10,000.00 Operations
$13,000.00 Interest
$8,000.00 Start up
$3,500.00 Misc.
$13,458.25 Losses
$9,200.00 Taxes and HOA Fees
Total Expenses $100,158.25
Net Profit 50411.98
Second Projected Fiscal Year In Business (October 2010 - October 2011)
Facts $ $ $ Description
We collect recycled $ through our ICR
process. This money is received from the
county, re-invested in ITS and accounts for the
difference between capital vested and cash
Cash Spent $680,000.00 spent
Total Spent 2
Years $1,380,000.00
Capital Vested
Year 2 $500,000.00 5 Investors (DBL, MSL, DZC, MH, DB)
Total
Vested 2
Years $1,086,000.00
Projected
Revenue $98,000.00 14 Redemptions
$128,000.00 4 Double Dips
$480,000.00 10 Sales
Total
Projected
Revenue $706,000.00
Expenses $57,000.00 Legal
$38,000.00 Liens
$14,000.00 Operations
$69,000.00 Interest
$50,000.00 Salaries
$5,000.00 Misc.
$21,200.00 Taxes and HOA Fees
Total
Projected
Expenses $254,200.00
Net Profit 451800

25. KEY NUMBERS
ITS FLOW CHART
ITS
Internal Tax Service

26. KEY NUMBERS
Total # of Deeds Purchased 38
Average Price of Deeds $26,031.77
Average Price of Deeds Since May $35,055.56
Total Cost of Deeds Purchased $859,048.41
Total Assessed Value of Property $3,300,900.00
Average Property Assessment $100,027.00
If we can buy up to 6 properties a month or put at least
200K a month to work; the company will assure itself
minimum revenue of at least 40K a month.
ITS
Internal Tax Service

27. BANK ERROR
ITS FLOW CHART
ITS
Internal Tax Service

29. INVESTMENT BREAKDOWN
ITS FLOW CHART
ITS
Internal Tax Service

30. MINIMUM BID DATE
COMPARABLE PROPERTY ESTIMATED HIGHEST DATE !$ OVERAGE
(DELINQUENT REDEMPTION AMOUNT ESTIMATED LOWEST RETAIL (* released) MEMO ICR PROCESS OVERAGE
PROPERTY PURCHASED WINNING BID AMOUNT ANNUAL TAX VALUE PROJECTED VALUE INITIATED COLLECTED RECEIVED
TAX OWED VALUE
OBLIGATION)
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Tax Obligation Total Amount ITS Owed Portfolio Value Comparable Value Projected Value
Total $ Vested
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