Estate of Paul Michael Eustace

Estate of Paul Michael Eustace is the subject of bankruptcy proceedings before the Ontario Superior Court of Justice under Part XIII of the Bankruptcy and Insolvency Act, on the application of C. Clark Hodgson, Jr., in his capacity as court-appointed receiver of Philadelphia Alternative Asset Management Company LLC, and Wasserman Associates Inc. Hodgson is named as foreign representative. The statement of affairs, sworn as at July 8, 2005, reported total assets of $5,429,700.00 against total liabilities of $33,775,445.38, comprising $28,659,445.38 unsecured and $5,116,000.00 secured. Option Capital Fund holds a secured claim of $5,116,000.00 over a Velocity options trading account and an unsecured claim of $28,654,432.51. The matter remains active.