La Costa Dreams Inc.

“Michael callihan ruby callihan president cfo married michael callihan/ruby callihan william janicki pres/cfo secretary business”

“Every director shall have the absoslute right at any reasonable time to inspect all books, records, and documents of everykind.”

“Article iii of the conflict of interest policy. Procedures: 1. Duty to disclose. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the finanical interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delagated powers considering the proposed transaction or arrangement. 2. Determining whether a conflict of interest exists. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is dicussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exits. 3. Procedures for addressing the conflict of interest. A. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. B. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C. After exercising due diligence, the governing board or committee shall determine whether la costa dreams, inc. Can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. D. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in la costa dreams, inc.'s best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above dtermination, it shall make its decision as to whether to enter into the tranaction or arrangement. 4. Violations of the conflict of interest policy. A. If the governing board or committee has resonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alledged failure to disclose. B. If, after the hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“Directors and members of committees may receive such reasonable compensation, if any, for their services and such reasonable reimbursement for expenses, as may be fixed or determined by resolution of the board of directors. In determining such reasonable compensation, the board of directors shall: (i) only approve compensation arrangements consistant with the company's conflict of interest policy; (ii) approve compensation arrangements in advance of paying compensation; (iii) document in writing the date and terms of approved compensation arrangements; (iv) record in writing the decision made by each individual who decided or voted on compensation arrangements; (v) approve compensation arrangements based on information about compensation paid by similary situated taxable or tax- exempt organizations for similar services, current compensation surveys compiled by independent firms, or actual written offers from similarly situated organizations; and (vi) record in writing both the information on which it relied to base its decision and source of such information.”

“The audited financial statements shall be available for inspection by the cailfornia attorney general and by members of the public no later than nine months after the close of the fiscal year to which the statements relate. La costa dreams, inc. Shall make its annual audited financial statements available to the public in the same manner that is prescribed for irs form 990 by the latest revision of section 6104(d) of the internal revenue code and associated regulations.”

“Other contract services 0 0 1,050 dues & subscriptions 0 527 0 bank fees 0 166 0 computer and web consultants 0 0 2,838 la costa film festival design consultant 0 0 6,975”