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10,000 shares at $1.00. I'm trying <br />to show that the application is not <br />complete. That means that the total <br />capitalization for this business is <br />$10,000.00. <br /> <br />Davidson again reminded Mr. Fyne that he has to make specific <br />questions to the person. Fyne would be allowed to speak later on <br />this subject, if he so chose. <br /> <br />Fyne: <br /> <br />Specific question, is the initial <br />capitalization $10,000.007 <br /> <br />Stiffler: <br /> <br />That's the way it was set up. I can <br />assure the Council and Mr. Fyne that <br />the investment will be much more <br />substantial. <br /> <br />Fyne: <br /> <br />I again go back to the fact that <br />this is not a total application. <br />Where is the rest of the money <br />coming from? Why don't we know that <br />now? <br /> <br />Scott: <br /> <br />I direct the Authority to the <br />Affidavit of Source of Funds filed <br />with the application. The affiant, <br />Jeffrey M. Stiffler states that he <br />is an Officer, Director and Share <br />Holder of the Brass Monkey, Inc., <br />dba Junction Wine & Spirits, the <br />applicant herein. That the source <br />of funds for the operation of the <br />applicant is from his personal <br />funds. The Liquor Application <br />process requires that any borrowed <br />monies be disclosed. What the <br />applicant is saying is that he has <br />the wherewithal to open this <br />business based on his own personal <br />finances. <br /> <br />Fyne: <br /> <br />Are all of the monies coming from <br />you personally and your partner? <br /> <br />Stiffler: Yes. <br /> <br />Davidson asked if there were any more questions from the audience. <br /> <br />NONE <br /> <br />Davidson asked if the Authority had any questions. <br /> <br />19 <br /> <br /> <br />