(e) Business Experience
(1) Background Although this item requested that employment information
be disclosed for each executive for a period of the prior five years
along with executive's employment experience with this Registrant for
a period of the prior five years, this Registrant has existed for three
Mr. Spence is founder of Spence-Lingo
Company, Ltd and affiliate and control entity FreedomTree Financial Mutual
Funds and Asset Management, LLC. He has maintained employment with the
Firm since August of 2006 when operations were conducted as a sole proprietorship.
Mr. Spence earned a Bachelor of Arts degree from Georgia State University
(2005) and is pursing a Master of Business Administration (2011).
Financial industry licensure include:
- State of Georgia Insurance Life, Accident,
Sickness and Health
- State of Georgia Insurance Variable
- Financial Industry Regulatory Authority
(FINRA) Series 6
- FINRA Series 63
- FINRA Series 66
Mr. Spence has maintained licensure in
the financial services industry since 2005. Prior to his service with
the Firm, Mr. Spence was employed at the companies listed below in order
- Financial Services Representative
January 2006 July 2006 Metropolitan Life Insurance
Company & MetLife Securities, Inc.
MET & EXCEEDED first quarter sales quota of 7500
GDC, writing $30,000 GDC/placing $28,000, earning $1,600 weekly
ARRANGED appointments and met clients in over 15 cities
out the state of Georgia
ACQUIRED knowledge regarding financial products such as long term care,
Disability insurance, ordinary/variable life, mutual funds, fixed/variable
PROSPECTED daily via cold calling, servicing existing
accounts, attending various luncheons, etc
- Intern/Agent September
2005 November 2005 New York Life Insurance Company
- a 160 year old insurance company with more than $26 billion in sales
FINANCED 100 percent of various business expenses related to travel,
E&O insurance, business cards, stationary, etc
SOLD company products news print and internet advertising
DESIGNED group and individual retirement and benefit
- Telemarketer October
2002 - March 2004 Creative Energy of Atlanta -
a unit of a corporate contractor specializing in $1000 or more roofing,
siding, patio and window projects.
PITCHED 150-200 prospective customers daily by method of cold calling
and scheduled and confirmed appointments
Shonna Lingo is completing a Bachelor's
degree in Business from Troy University, Alabama. (2011). For the previous
14 years she has maintained employment in allied health industries, starting
at a regional hospital in South Georgia. Her duties here at the Firm include
supervision of the data collection processors that image agent applications,
entering all relevant information into the Company's customer relationship
management software systems before initiating customer invoices. Ms. S.
Lingo maintains con concurrent employment with this Firm along with her
duties in the health professions.
Delephine Lingo assisted Lingo Exterminators
with marketing of their line of pest extermination chemicals and services.
Lingo Exterminators has operated for more than 35 years and is privately
owned by the Lingo family. Duties include client contact entry and records
recollections, postal mail retrieval functions and clerical support. Ms.
D. Lingo is responsible for similar duties here at Spence-Lingo.
(2) Directorships. There
are no other reportable disclosures relating to any director or executive
of Spence-Lingo holding any other position with this Company having a
class of securities registered pursuant to section 12 of the Exchange
Act or subject to the requirements of Section 15(D) of such Act or this
Company registered as an investment company under the Investment Company
Act of 1940.
(f) Involvement in certain legal proceedings
There are no reportable disclosures arising
from events occurring in the last five years regarding this Registrant
(1) legal proceedings under the Federal
bankruptcy laws or any state insolvency law
(2) its principal executives and/or related persons undergoing criminal
proceedings or convictions.
(3) its principal executives and/or related persons being the subject
of any order, judgment, or decree, not subsequently reversed, suspended
or vacated related to the following activities
(i) futures commission merchant,
introduction broker, commodity trading advisor, commodity pool operator,
floor broker, leverage transaction merchant, investment advisor, underwriter,
broker or dealer in securities, director or employee of any investment
company, banks, savings and loan association or insurance company,
or engaging in or continuing any conduct or practice in connection
with such activity. This
list is not all inclusive, see Title 17 229.401
(ii) Engaging in any type of business practice; or
(iii) Engaging in any activity in connection with the purchase or
sale of any security or commodity because of violation of Federal
or State securities laws or Federal commodities laws;
(4) its principal executives and/or
related persons being the subject of any order, judgment or decree,
not subsequently reversed, suspended or vacated brought forth by a Federal
or State authority barring, suspending or otherwise limiting for more
than 60 days the right of such person to engage in any activity described
in paragraph (f)(3)(i) of this section.
(5) its principal executives and/or
related persons found by a court of competent jurisdiction in a civil
action or by the Commission to have violated any Federal or State securities
law, and the judgment in such civil action or finding by the Commission
has non been subsequently reversed, suspended, or vacated.
(6) its principal executives and/or
related persons being found by a court of competent jurisdiction in
a civil action or by the Commodity Futures Trading Commission to have
violated any Federal commodities law, and the judgment in such civil
action or finding by the Commodity Futures Trading Commission has not
been subsequently reversed, suspended or vacated.
(g) Promoters and control persons.
(1) This Registrant is subject
to the reporting requirements of section 13(a) of the Securities and
Exchange Act of 1934, and there are no reportable disclosures to be
made concerning promoters and control persons and their involvement
in legal proceedings, either criminal or otherwise.
(2) There are no reportable disclosures
to be made concerning control persons of this Registrant being the subject
of any legal proceedings.
229.405 (Item 405) Compliance
With section 16(a) of the Exchange Act.
(a) As is required by this item, Title
17 229.405 (a) this Registrant received notification via form Form 3 that
10 percent or more of its stock was beneficially owned by the parties
below. The parties named below ARE NOT directors or officers of this Registrant,
and the disclosure made below does not fit within Section 16(a) of the
Securities Exchange Act of 1934 because the purchase of the stock in question
was made in a dealer issuer transaction, which under Section 16(d) of
the Securities Exchange Act of 1934, is exempt from Form 3, Form 4 and
Form 5 registration requirements because the beneficially owned stock
was acquired by a dealer in the ordinary course of business and done so
in order to establish and maintain a secondary market.
(1) Each person or entity named below
is the beneficial owner of more than ten percent of the class of stock
refereed to by title who, without the exemption provisions of Section
16(d), did not file Form 3 within 10 days of obtaining 10 percent or
more of any class of this Registrant's equity securities. It should
be noted too that this Registrant's registration statement is not effective
which, according to Section 16(a)(2), must be the status of the registration
statement prior to the filing of Form 3.