N.A.S.D. AWARD . NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between m Name of Claimant (s) Gunter Ullmann Use Ullmann Gunfcer and Use Ullmann as trustees of the Gunter & Use Ullmann Trust NASD Arbitration No. 94-01429 Name of Respondent (s) Hugh Philip Gee, Terrenes Gee Gee Asset Management, Inc. and Hugh Gee & Co. For Claimants: Steven L. Weinstein, Esq. and Gregory J. Hampton, Esq. , S

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION, INC. CASE: 01-03033 PHD Capital Corp., claimant vs. Ian Bynoe, respondent. ATTORNEYS: For Claimant appeared Michael S. Colombo, President of Streetwide Asset Recovery Group, New York, NY. Respondent did not respond to the Statement of Claim. DATE FILED: June 8, 2001 CASE SUMMARY: Claimant alleged that respondent failed to pay the amount owed for the balance owed on a customer complaint, purs

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Irina and David Kreditor 94^01404 Name of Respondents Spencer-Winston Securities Corporation Jason Weisz CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on April 13, 1994, Claimants David and Irina Kreditor, who appeared Pro Se, alleged that Respondent Spencer- Winston Securities Cor

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between Name of Claimants Carol Lefcourt Lefcourt Financial Group, Inc. NASD Arbitration #94-01403 vs. Name of Respondents Michael Golub Michael Golub, Inc. Bob Arnert Phil Economopolous Hoefer & Arnett Pine Capital Management, Inc. REPRESENTATION Claimants were represented by Brad W. Blocker, Esq., Ropers, Majeski, Kohn,

NATIONAL ASSOCIATION OF SECURITIES DEALERS AWARD In the matter of the Arbitration Between * ^ Name of Claimant NASD Arbitration James Pritchard No. 94-01399 v. Name of Reapoqderyffi David Murray MarkFiiil Kennedy, Cabot & Company REPRESENTATION For Claimant: Adam D. Schneir, Esq., Investors Arbitration Services, Inc., Wopdland Hills. ! California For Respondent Kennedy, Cabot: George Kupper, Esq., JKennedy, Cabot & Co., Beverly H

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between Name of Claimant(s) Elden Farm Ivan and Lellah Harris Dean Marler and Bernice Marler John and Gwendolyn Wilson Edward Kobe and Norma Kobe Richard and Janice Moon Charles and Beatrice Baldridge Bill and Mary Hart Sharon Kent Wes L. Clark Bernadeen Dowd and Barbara Mahoney Denzil and Traci Rogers Paul and Susan Paduano

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERg. INC. In the matter of the Arbitration Between Name of Claimant(s) Elden Farm Ivan and Lellah Harris Dean Marler and Bernice Marler John and Gwendolyn Wilson Edward Kobe and Norma Kobe Richard and Janice Moon Charles and Beatrice Baldridge Bill and Mary Hart Sharon Kent Wes L. Clark Bernadeen Dowd and Barbara Mahoney Denzil and Traci Rogers Paul and Susan Paduano

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between of Claimant (s) El den Farm Ivan and Lellah Harris Dean Marler and Bernice Marler John and Gwendolyn Wilson Edward Kobe and Norma Kobe Richard and Janice Moon Charles and Beatrice Baldridge Bill and Mary Hart Sharon Kent Wes L. Clark Bernadeen Dowd and Barbara Mahoney Denzil and Traci Rogers Paul and Susan Paduano

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between Name of Claimant(a) Elden Farm Ivan and Lellah Harris Dean Marler and Bernice Marler John and Gwendolyn Wilson Edward Kobe and Nortna Kobe Richard and Janice Moon Charles and Beatrice Baldridge Bill and Mary Hart Sharon Kent Wes L. Clark Bernadeen Dowd and Barbara Mahoney Denzil and Traci Rogers Paul and Susan Paduano

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between Name of Claimant (s)_ Elden Farm Ivan and Lellah Harris Dean Marler and Bernice Marler John and Gwendolyn Wilson Edward Kobe and Norma Kobe Richard and Janice Moon Charles and Beatrice Baldridge Bill and Mary Hart Sharon Kent Wes L. Clark Bernadeen Dowd and Barbara Mahoney Denzil and Traci Rogers Paul and Susan Paduano