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BERTHOLD REIMERS CREATIVE ACCOUNTING FOR WBAI’S LEASE AT THE EMPIRE STATE BUILDING

April 24, 2016
A simple view of rent liability and late payment fees
1 message
Ed Manfredonia <edmanfredonia8311@gmail.com> Sun, Apr 24, 2016 at 12:33 PM
To: Gary Evans <gde@ringnebula.com>, Bernard White <burnardwhite@aol.com>, Stephen Cohen <patfansdc@aol.com>, TracyRosenberg <tracyrose@gmail.com>, CereneRoberts <more_cerene@yahoo.com>, Abby Charles <abby.charles@gmail.com>, Marcus Jetter <mrcsjttr@gmail.com>, Frank LeFever <fflefever@yahoo.com>, Heather Gray <hmcgray@earthlink.net>, M Hernandez <mhfca@hotmail.com>, Jimmie Brown <mrjbrown@aol.com>, Oscar Fernandez <ofernandez2633@gmail.com>, Luzette K <luzette_king@hotmail.com>, Keanna Faircloth <kcharlesfair@aol.com>, “Benito A. Diaz” <vivealbizu@gmail.com>, Richard Uzzell <pacificaru@gmail.com>, William Martin <william.scott.martin.86@gmail.com>, Lona Alias <lona_alias@hotmail.com>, Peter Tucker <pete10506@yahoo.com>, “dkcombs@optonline.net” <dkcombs@optonline.net>, jim Dingeman <jimdingeman@yahoo.com>, Dgiuseffi <dgiuseffi74@yahoo.com>, John Brinkley <jdbrinkley@att.net>, Bob Young <robertstevenyoung@gmail.com>, WBAI LSB Finance Committee <wbailsbfinance@yahoogroups.com>, Bob Lederer <ledererbob@usa.net>, william heerwagen <william_heer@yahoo.com>, Stephen Howard <showard_wbai@yahoo.com>, Ed Manfredonia <edmanfredonia8311@gmail.com>, “mschmid@rcn.com” <mschmid@rcn.com>, Kenneth Laufer <jassiken@yahoo.com>, Russell Dale <russell_eliot_dale@yahoo.com>, Veronica Faisant <veronica@kpfa.org>, Janee Taylor <jtaylor@kpfk.org>, Teresa Allen <teresaallen@pacifica.org>, Bill Crosier <kpft@crosierbiomed.com>, Summer Reese <summerinthedesert@yahoo.com>, cfo <cfo@pacifica.org>, Pacifica Executive Director <ed@pacifica.org>, Stephen M Brown <sbrown13@nyc.rr.com>, Margy Wilkinson <margylw@earthlink.net>, John Gladney Proffitt <johngladneyproffitt@gmail.com>, Don DeBar <dondebar@optonline.net>, MELISSA ENNEN <melnn@mac.com>, James Sagurton <james.sagurton@yahoo.com>, Joseph Harney <josephharney@gmail.com>, “marioradio@wbai.org” <marioradio@wbai.org>, Reggie Johnson <acidreg@gmail.com>, Steve Brown <steve@stevebrownonboard.org>, Melissa Ernst <melissa@thecommonsbrooklyn.org>, Anita Hawkins <lightlotus21@gmail.com>, Otis Maclay <omaclay@gmail.com>, Janet Coleman <catradiocafe@gmail.com>, john garry <jpgarry@sbcglobal.net>, Omar Burdet <pie.omar@yahoo.com>, Sequoia Mercier <piscespoet@earthlink.net>, Reza Pour <cabriolet011@yahoo.com>, Bella De Soto <belladsx1@gmail.com>, yudamaan <yudamaan@yahoo.com>, Dave Johnson <ace063562@msn.com>, Marla Bernstein <marlaismom@gmail.com>, Christine Peres-Pena <cperespena@att.net>, Augustin Cebada <acebada12002@yahoo.com>, Thomas Halle <zounds567@aol.com>, Moe Mansouri <moemansouri3@yahoo.com>, Fernando Roldan <fernando.roldan@edd.ca.gov>, Dan Nowman <nowmanrightnow@gmail.com>, Lance Charles <wholearthbuilder@mac.com>, Dr Thomas Halle <zounds456@aol.com>, Mike Madani <mmadani_latwa@yahoo.com>, Cuco <cucoesperansa@gmail.com>, Jan Goodman <janjerry2@gmail.com>, Rob Macon <robmacon25@yahoo.com>, Jon Almeleh <sirius@pacifica.org>, Carl Makower <cmakower@verizon.net>, Lydia Brazon <hlp@igc.org>, Quincy McCoy <q@kpfa.org>, Cerene WBAI <yes.cerene@yahoo.com>, Efren Llarinas <efren@pacifica.org>
Dear All:

 

The late fee for nonpayment of rent is 4%.  This late payment fee has not been entered into the financial statements.  This represents a substantial burden because a simplistic calculation for one year is:

$500,000 x .04 = $20,000 per year

 

And then the 4% is added on every year the rent is not paid.  That is the best case scenario.

 

This is a simplistic calculation.  The late fee penalty begins if the rent is late by 10 days on a monthly basis.

 

As for the total accrued rent liability for one year is approximately $500,000.  Thus, the accrued rent liability for 3 years is approximately $1,500,000.  This $1,500,000 is more than R Paul Martin’s estimate of approximately $720,000.

 

But it is at this juncture that I wish to state that Berthold Reimers lied to me when he stated that the late payment was $100 per month.  So much for Berthold Reimers possessing two MBAs in Finance and a CPA license- as was falsely stated by Steve Brown.

 

When will the accounting fraud stop?  When WBAI is out of business!  Thank you.  Ed Manfredonia

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