This past Friday, ALEC PETERS published a blog providing the latest “AXANAR Financial Update.” (You can read it here.) In the blog, Alec explains that Axanar Productions is now serviced by one of Atlanta’s largest and most prestigious accounting firms, Frazier and Deeter, and that Axanar Productions owes no taxes currently due to a business loss of more than $150,000 over and above the $1.2 million donated by supporters in 2014 and 2015. This loss was money put in by Alec Peters personally to cover expenses not covered by contributions.
One would assume that a large and reputable accounting firm would not take on as a client any corporation with obviously shady dealings, potential embezzlement, tax fraud, etc.—and that they would do their due diligence prior to signing up any new client. So the fact that Frazier and Deeter, which has in the past advised Pinewood Studios where many Marvel movies have been shot in Atlanta, decided to represent Axanar Productions argues against many of the spurious claims of “corruption” by Axanar detractors.
The majority of the numerical specifics of Alec’s update were included in a single paragraph:
There were $ 35,103.78 in Axanar expenses in 2017, of which approximately $26,000 was legal expenses left over from the lawsuit. These were the only legal expenses from the CBS/Paramount lawsuit, as we received over $1M in free legal services from Winston & Strawn. However, our pro-bono agreement was that we paid all actual expenses which consisted of deposition and expert witness costs. I personally paid those costs as well as the other costs in 2017 in order to keep the studio and operation going.
While Axanar Productions had attempted to file for 501(c)(3) tax exempt status back in California, those plans were tabled after the move to Lawrenceville, Georgia. Now, Alec and his advisers are considering starting the process of making OWC Studios into a 501(c)(3) since they’re working on an educational program for local high schools and colleges in the Atlanta area that have video and film programs.
In anticipation of that, and in preparation for the upcoming Axacon event from November 2-4 (get your tickets here), Alec and his team are also working to complete the amazing USS Ares bridge set. There’s obviously a LOT going on with Axanar (in addition to ramping up to film the two sequel episodes), and I though this might be a good time to have a little chat with Captain Garth himself, Alec Peters…