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      <Depreciation>
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      <Depreciation>
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        <DescriptionOfProperty>HARD DRIVES</DescriptionOfProperty>
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      <Depreciation>
        <DescriptionOfProperty>EDITING EQUIPMENT</DescriptionOfProperty>
        <DateAcquired>2010-03-05</DateAcquired>
        <CostOrOtherBasis>673</CostOrOtherBasis>
        <PriorYearsDepreciation>135</PriorYearsDepreciation>
        <ComputationMethod>200DB</ComputationMethod>
        <Life>5.000000000000</Life>
        <CurrentYearExpense>215</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
      <Depreciation>
        <DescriptionOfProperty>CAMERA &amp; SOUND EQUIPMENT</DescriptionOfProperty>
        <DateAcquired>2010-03-07</DateAcquired>
        <CostOrOtherBasis>272</CostOrOtherBasis>
        <PriorYearsDepreciation>54</PriorYearsDepreciation>
        <ComputationMethod>200DB</ComputationMethod>
        <Life>5.000000000000</Life>
        <CurrentYearExpense>87</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
      <Depreciation>
        <DescriptionOfProperty>HARD DRIVES AND GEAR</DescriptionOfProperty>
        <DateAcquired>2010-03-17</DateAcquired>
        <CostOrOtherBasis>2292</CostOrOtherBasis>
        <PriorYearsDepreciation>458</PriorYearsDepreciation>
        <ComputationMethod>200DB</ComputationMethod>
        <Life>5.000000000000</Life>
        <CurrentYearExpense>733</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
      <Depreciation>
        <DescriptionOfProperty>CAMERA VIEW FINDER</DescriptionOfProperty>
        <DateAcquired>2010-03-17</DateAcquired>
        <CostOrOtherBasis>408</CostOrOtherBasis>
        <PriorYearsDepreciation>82</PriorYearsDepreciation>
        <ComputationMethod>200DB</ComputationMethod>
        <Life>5.000000000000</Life>
        <CurrentYearExpense>131</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
      <Depreciation>
        <DescriptionOfProperty>TRIPOD, BATTERIES, ETC.</DescriptionOfProperty>
        <DateAcquired>2010-03-17</DateAcquired>
        <CostOrOtherBasis>1387</CostOrOtherBasis>
        <PriorYearsDepreciation>277</PriorYearsDepreciation>
        <ComputationMethod>200DB</ComputationMethod>
        <Life>5.000000000000</Life>
        <CurrentYearExpense>444</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
      <Depreciation>
        <DescriptionOfProperty>HARD DRIVE/EQUIPMENT</DescriptionOfProperty>
        <DateAcquired>2010-05-17</DateAcquired>
        <CostOrOtherBasis>728</CostOrOtherBasis>
        <PriorYearsDepreciation>146</PriorYearsDepreciation>
        <ComputationMethod>200DB</ComputationMethod>
        <Life>5.000000000000</Life>
        <CurrentYearExpense>233</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
      <Depreciation>
        <DescriptionOfProperty>FURNITURE</DescriptionOfProperty>
        <DateAcquired>2011-01-01</DateAcquired>
        <CostOrOtherBasis>12537</CostOrOtherBasis>
        <ComputationMethod>200DB</ComputationMethod>
        <Life>5.000000000000</Life>
        <CurrentYearExpense>2507</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
      <Depreciation>
        <DescriptionOfProperty>EQUIPMENT</DescriptionOfProperty>
        <DateAcquired>2011-01-01</DateAcquired>
        <CostOrOtherBasis>11704</CostOrOtherBasis>
        <ComputationMethod>200DB</ComputationMethod>
        <Life>5.000000000000</Life>
        <CurrentYearExpense>2341</CurrentYearExpense>
        <NetInvestmentIncome>0</NetInvestmentIncome>
      </Depreciation>
    </DepreciationSchedule>
    <GeneralExplanationAttachment documentId="RetDoc2258700001">
      <GeneralExplanation>
        <ReturnReference>PART I (LINE 23 AND RELATED STATEMENT 5) &amp; PART IX-A</ReturnReference>
        <Explanation>DEVELOPMENT AND PRODUCTION COSTS FOR GLOBAL ARTS CORPSTHE PROTOTYPE FOR THE GLOBAL ARTS CORPS IS THE ORIGINAL SOUTH AFRICAN TOURING PRODUCTION OF TRUTH IN TRANSLATION. IT BEGAN AS A COLLABORATION BETWEEN AN EXTRAORDINARY COMPANY OF SOUTH AFRICAN ACTORS AND MUSICIANS, AN AMERICAN DIRECTOR, CONTRIBUTING WRITERS FROM BOTH COUNTRIES AND A LEGENDARY SOUTH AFRICAN MUSICIAN/COMPOSER. THE PRODUCTION ASKED THE QUESTION THAT NELSON MANDELA ASKED OF HIS COUNTRY: 'CAN WE FORGIVE THE PAST TO SURVIVE THE FUTURE?' AND BROUGHT THE STORY OF THE SOUTH AFRICAN TRUTH AND RECONCILIATION COMMISSION INTO OTHER AREAS OF CONFLICT AROUND THE WORLD. THE STORY WAS TOLD FROM THE PERSPECTIVE OF THE COMMISSION'S INTERPRETERS. VERY QUICKLY TRUTH IN TRANSLATION EVOLVED INTO A PILGRIMAGE OF OUTREACH TO CREATE DIALOGUE IN AND BETWEEN CONFLICT ZONES AROUND THE WORLD.FOR ADDITIONAL INFORMATION GO TO GLOBALARTSCORPS.ORG AND TRUTHINTRANSLATION.ORG PRODUCTION COSTS FOR DOCUMENTARY FILMWE LIVE IN A WORLD THAT IS INCREASINGLY DRIVEN BY FEAR AND VENGEANCE. THIS DOCUMENTARY FEATURE FILM WILL CREATE A VIRTUAL DIALOGUE BETWEEN PEOPLE WHO WOULD NEVER GET THE CHANCE TO TALK WITH ONE OTHER, AS WE LOOK TO LOCATE THAT PLACE IN ALL OF US THAT UNDERSTANDS UBUNTU A SOUTH AFRICAN WORD THAT MEANS I AM BECAUSE YOU ARE. THE STAGE PRODUCTION OF TRUTH IN TRANSLATION HAS PROVEN ITSELF TO BE A SURPRISINGLY EFFECTIVE CATALYST FOR DIALOGUE. AS WE TRAVEL TO OUTRAGEOUSLY DIVERSE LOCATIONS, WE ARE MEETING WITH PEOPLE ON THE GROUND WHO ARE MOBILIZING TOWARDS HEALING, OFTEN INDEPENDENTLY OR IN SPITE OF THEIR GOVERNMENTS. WE ALL ARE ABLE TO BREAK THE SILENCE IMPOSED BY FEAR AND SELF-CENSORSHIP WHEN THE QUESTIONS ARE NOT ASKED IN A POLITICAL OR DIPLOMATIC FRAMEWORK, BUT RATHER WHEN WE ENGAGE ON AN EMOTIONAL LEVEL. AS THIS COMPANY OF ARTISTS TRAVEL TO ACTIVE AND POST CONFLICT ZONES AROUND THE WORLD, WHERE HEALING IS EITHER STILL IN PROGRESS OR HAS YET TO BEGIN, WE FIND THAT WILDLY DIFFERING CULTURES IN LANDSCAPES WORLDS APART ARE OFTEN REACHING FOR THE SAME THING. PERSONAL STORIES OF ENTITLEMENT AND VICTIMIZATION ECHO ONE ANOTHER. THE STRUGGLE TO MOVE PAST A STATE OF CONFLICT, WHILE ATTEMPTING TO HANG ONTO THE VERY THINGS THAT IDENTIFY US, SPEAKS ACROSS BORDERS. FOR ADDITIONAL INFORMATION GO TO GLOBALARTSCORPS.ORG AND TRUTHINTRANSLATION.ORG</Explanation>
      </GeneralExplanation>
    </GeneralExplanationAttachment>
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        <EOYFMV>0</EOYFMV>
      </LandEtc>
      <LandEtc>
        <CategoryOrItem>VCR (PAL FORMAT)</CategoryOrItem>
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        <EOYFMV>0</EOYFMV>
      </LandEtc>
      <LandEtc>
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        <AccumulatedDepreciation>1501</AccumulatedDepreciation>
        <EOYFMV>0</EOYFMV>
      </LandEtc>
      <LandEtc>
        <CategoryOrItem>COMPUTER SPEAKER</CategoryOrItem>
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        <EOYFMV>0</EOYFMV>
      </LandEtc>
      <LandEtc>
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      </LandEtc>
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      </LandEtc>
      <LandEtc>
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      </LandEtc>
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      <LandEtc>
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        <EOYFMV>0</EOYFMV>
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        <EOYFMV>0</EOYFMV>
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        <BookValue>346</BookValue>
        <EOYFMV>0</EOYFMV>
      </LandEtc>
      <LandEtc>
        <CategoryOrItem>COMPUTER EQUIPMENT FOR EDITING</CategoryOrItem>
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        <BookValue>553</BookValue>
        <EOYFMV>0</EOYFMV>
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        <BookValue>24</BookValue>
        <EOYFMV>0</EOYFMV>
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        <BookValue>89</BookValue>
        <EOYFMV>0</EOYFMV>
      </LandEtc>
      <LandEtc>
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        <BookValue>25</BookValue>
        <EOYFMV>0</EOYFMV>
      </LandEtc>
      <LandEtc>
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        <BookValue>74</BookValue>
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      <LandEtc>
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        <BookValue>268</BookValue>
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        <BookValue>359</BookValue>
        <EOYFMV>0</EOYFMV>
      </LandEtc>
      <LandEtc>
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        <EOYFMV>0</EOYFMV>
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      <LandEtc>
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        <EOYFMV>0</EOYFMV>
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        <BookValue>10030</BookValue>
        <EOYFMV>0</EOYFMV>
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      <LandEtc>
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        <DisbursementsCharitablePrps>4326</DisbursementsCharitablePrps>
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        <LendersName>MICHAEL LESSAC</LendersName>
        <LendersTitle>DIRECTOR</LendersTitle>
        <OriginalAmountOfLoan>352413</OriginalAmountOfLoan>
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        <DateOfNote>2005-12</DateOfNote>
        <MaturityDate>2009-12</MaturityDate>
        <RepaymentTerms>ON DEMAND</RepaymentTerms>
        <InterestRate>0.000000000000</InterestRate>
        <SecurityProvidedByBorrower>NONE</SecurityProvidedByBorrower>
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      </OtherExpenses>
      <OtherExpenses>
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        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>205274</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>MISCELLANEOUS</Description>
        <RevenueAndExpensesPerBooks>438</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>438</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>OFFICE EXPENSE</Description>
        <RevenueAndExpensesPerBooks>5282</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>5282</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>POSTAGE &amp; SHIPPING</Description>
        <RevenueAndExpensesPerBooks>3294</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>724</NetInvestmentIncome>
        <DisbursementsCharitablePrps>2570</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>TELEPHONE</Description>
        <RevenueAndExpensesPerBooks>2342</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>2342</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>INSURANCE</Description>
        <RevenueAndExpensesPerBooks>2852</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>2852</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>DEVELOPMENT AND PRODUCTION COST FOR GLOBAL ARTS CORPS-SEE STATEMENT ATTACHED</Description>
        <RevenueAndExpensesPerBooks>162849</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>162849</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PRODUCTION COSTS FOR DOCUMENTARY FILM-SEE STATEMENT ATTACHED</Description>
        <RevenueAndExpensesPerBooks>7240</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>7240</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>UTILITIES</Description>
        <RevenueAndExpensesPerBooks>2057</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>2057</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>REPAIRS AND MAINTENANCE</Description>
        <RevenueAndExpensesPerBooks>1310</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>1310</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <Taxes>
        <Category>STATE FILING FEES</Category>
        <Amount>110</Amount>
        <NetInvestmentIncome>110</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>