FRom

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TPL Opening Disclosure Statement 12-23-13 found in BaNosser post as follows:

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Mr. Brown’s projections for the SEAforth annual sales were in the hundreds of millions of dollars within a few years. Because of those projections, the IntellaSys business expanded significantly including the hiring of a non-U.S. sales force, which was employed by a related entity organized in Bermuda (IntellaSys BEC) with branch offices in Switzerland and Taipei. Because the sales projections for SEAforth never materialized, those branch offices and related infrastructure, including bank accounts, were closed in 2008 and 2009.

p. 24

In December 2011, I received the following e-mail regarding Intellasys BEC. Not sure if that is a contrary to Leckrone's statement (because he just references branch offices)

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Forwarded Message -----
From: "Smith, Joann" <jfsmith@gov.bm>
To: Laurie
Sent: Tuesday, December 6, 2011 9:54 AM
Subject: RE: Intellasys BEC

Good day,

The company was struck off the register 26/10/2011.

Regards

Joann Smith