Tuesday, April 21, 2015

Is there an Echo in Here??? LynnCAM President Robert Sewell vs Failed TV3 president Frank Pilleri: LESS THAN ZERO

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“There will be no more money. Zero,” (LynnCAM Board President Robert )Sewell said.  April 18, 2015 ItemLive/Lynn 

"Everything that we had was 

dispersed," (Medford Community 

Cablevision Board President Frank 

Pilleri said. "We’ve got 

a zero balance"  July 24, 2013 

Medford Transcript

________________________

GEE, FUNNY HOW TWO EMBATTLED PRESIDENTS CLAIM ZERO MONEY LEFT, ISN'T IT?

NOT FUNNY AT ALL

IT IS SICK!


April 18, 2015  LYNN

The vote came after the board’s five members disagreed over the amount of money LynnCAM has on hand to meet its obligations. Board member Lawrence McCully said the studio has $53,000 in three accounts, but Board President Robert Sewell said another vote taken Friday by the board to pay “all outstanding bills” will require all available LynnCAM finances.



“There will be no more money. Zero,” (LynnCAM Board President Robert )Sewell said.



The board faces numerous legal as well as financial challenges.

http://www.itemlive.com/news/lynncam-pulls-plug-on-its-staff/article_7e2fbf2e-e57f-11e4-b51d-73462470f516.html

july 23, 2014  medford

  • Medford officials demand TV3's financial records


By Alex Ruppenthal
aruppenthal@wickedlocal.com
Posted Jul. 23, 2014 at 8:24 AM 

MEDFORD
TV3’s president (Tufts Health IT wizard Frank Pilleri - editor's note) says the station spent all of its savings — more than $130,000 — on operating costs before the now-defunct access station’s Board of Directors voted to dissolve the station last October.
But officials want proof, since Medford Community Cablevision, Inc. (TV3’s legal name) is required to transfer all remaining assets to the city before it dissolves.
TV3’s Board of Directors now has until Thursday, July 24 to produce financial records from the station’s final year or it could face legal action from the city.




City Solicitor Mark Rumley said the city took possession of equipment from TV3’s former office at 32 Riverside Ave. in January. But Rumley said the city has not received any money from MCC, nor does it know how much money, if any, the organization still has.
According to the review, MCC’s $153,532 in remaining assets as of April 30 were transferred. Jacobson said the figure represents the value of the station’s equipment that was turned over to the city, and the figure does not include any cash.
According to the 990-EZ tax form Pilleri filed with the Internal Revenue Service, MCC had $133,342 in cash, savings and investments on May 1, 2013.
According to Jacobson’s review conducted for MCC, the organization had only $95,555 in expenses for the fiscal year ending April 30, 2014, indicating a positive balance.




“There will be no more money. Zero,” (LynnCAM Board President Robert )Sewell said.  April 18, 2015 ItemLive/Lynn 

"Everything that we had was 

dispersed," (Medford Community 

Cablevision Board President Frank 

Pilleri said. "We’ve got 

a zero balance"  July 24, 2013 

Medford Transcript





________________________________________________________________________


“There will be no more money. Zero,” (LynnCAM Board President Robert )Sewell said.  April 18, 2015 ItemLive/Lynn 

"Everything that we had was 

dispersed," (Medford Community 

Cablevision Board President Frank 

Pilleri said. "We’ve got 

a zero balance"  July 24, 2013 

Medford Transcript

________________________

“There will be no more money. Zero,” (LynnCAM Board President Robert )Sewell said.  April 18, 2015 ItemLive/Lynn 

"Everything that we had was 

dispersed," (Medford Community 

Cablevision Board President Frank 

Pilleri said. "We’ve got 

a zero balance"  July 24, 2013 

Medford Transcript