I woulda bet dollars to donuts that we hadn’t heard the last of the Hansen v. Can! matter. Yesterday, I posted an e-mail from Eric Hansen. Now the other side gets their turn. After this [clap clap clap], I’m done with it.
JULY 11, 2006 MEDIA STATEMENT
FORNoble Royalties, Inc., et al., v. Iris Advertising, L.L.C., et al.
193rd Judicial District Court, Dallas County, Texas
Cause No.: 06-03506-L
(Dallas: July 11, 2006) — For approximately 9 months, Noble Royalties, Inc., on behalf of Dallas Can! Academy, has sought a complete and unfettered audit of the books and records of IRIS Advertising, L.L.C., related to the 2004 and 2005 charity golf events that were to benefit Dallas Can! Academy and its related organizations. Noble has sought the audit to determine the reason Dallas Can! Academy has not received any significant portion of the hundreds of thousands of dollars paid by Noble, other sponsors and over 400 participants in the golf events that were to benefit Dallas Can!. Noble believes the audit will determine accurate amounts due to Dallas Can! from IRIS.
Additionally, Noble, on its own behalf, has requested an audit of the invoices submitted by IRIS, to Noble, for advertising services provided by IRIS. The purpose of this audit is to determine the accurate amount of funds, if any, that are due to IRIS for its services to Noble.
Noble, and Dallas Can! Academy are encouraged that Eric Hansen and IRIS have publicly agreed to open up IRIS’ books and records to allow an audit to continue. A partial audit conducted in February and March of this year was halted by IRIS after specific questions were posed regarding specific expenses incurred by The Hansen Foundation which were charged by IRIS to the golf events.
Based on IRIS’ public commitment, Noble, on its behalf and on behalf of Dallas Can! Academy, has again engaged the accounting firm of PriceWaterhouseCoopers, L.L.P., to recommence the audit. PriceWaterhouseCoopers, L.L.P., is in the process of preparing an engagement letter that will include an examination of at least the following books and records related to the 2004 and 2005 golf events and the invoices submitted to Noble:
1. IRIS bank account records from 2003 to current;
2. Advantage Golf bank account records for 2003 to current;
3. The Hansen Foundation bank account records from inception to current;
4. Receipts from vendors that have provided services related to Dallas Can! Academy, Noble and Compass Royalty Management through IRIS, Advantage Golf and The Hansen Foundation;
5. Billing Statements from vendors that have provided services related to Dallas Can! Academy, Noble and Compass Royalty Management through IRIS, Advantage Golf and The Hansen Foundation; and
6. Billing Statements and/or other payable statements charged by IRIS, Advantage Golf and The Hansen Foundation against Dallas Can! Academy, Noble and Compass Royalty Management, or against funds being handled for these institutions.
In the Sunday, July 9, 2006 edition of The Dallas Morning News, Eric Hansen said that IRIS’ books are open to such an audit. Noble therefore assumes that Mr. Hansen will honor his commitment by authorizing IRIS’ attorney of record to sign a written agreement confirming such an agreement that can be filed with the court. When that occurs, Noble will promptly ask that PriceWaterhouseCoopers, L.L.P. recommence the audit at a time and place that is mutually agreeable to all parties.
The Sunday edition of the Dallas Morning News, in Steve Blow’s column, reprinted extensive quotes by Mr. Dale Hansen, Eric Hansen’s father. For the record, it should be made clear that neither Noble nor Dallas Can! Academy have sued Mr. Hansen as he has now stated on numerous occasions. The crux of this litigation is that of a simple contract dispute between the parties. The audit that Mr. Eric Hansen has apparently now agreed to allow to continue should provide the definitive answers as to who is owed and how much.