Antonio Santillan, the managing member of Adams Financial Investment Fund, LLC, was under pressure as the Fund approached its first required investor distribution date and the Fund software was not calculating fund or investor earnings correctly.
Antonio learned about AMLLP through a California Mortgage Association conference. AMLLP got the call in early February with the Fund's monthly distribution due in 10 days. AMLLP quickly assessed the problem and deployed a team to work 24/7 recalculating the Fund's entire history-to-date activities, which included Fund earnings, investor earnings allocations and, of course, required investor distributions.
AMLLP was able to provide Adams Financial Investment Fund, LLC with the resources and technical expertise needed to correct the issues created by the Fund's software and allow the Fund to meet its investor distribution deadline.
With the confidence that AMLLP instilled in Antonio Santillan from this project, he knew where to turn when another situation with an even tighter deadline presented itself. Antonio contacted AMLLP two days prior to a Department of Corporations ("DOC") filing deadline. AMLLP worked closely with Antonio over the next 48 hours to complete the DOC filing by the required deadline.
AMLLP was also engaged to conduct the annual audits of the Fund and its manager after informing Antonio of the Fund's audited financial statement deadline of March 31st. AMLLP was able to conduct these audits and issue the audited financial statements by the March 31st deadline required by the Fund's offering circular.
AMLLP was able to meet yet a fourth deadline – April 15th. AMLLP was able to complete the Fund's tax returns by early April, which allowed the Fund to file its tax returns by the April 15th due date and, more importantly, allowed the Fund to issue K-1s to its investors early enough to allow them to complete their own returns by the April 15th due date.
With the assistance of AMLLP, Adams Financial Investment Fund, LLC was able to satisfy its investors by meeting its monthly distribution deadline, doing so with the confidence that its earnings and resulting investor distributions were correct. They were also able to submit all DOC filings, get their annual audited financial statements issued and file their tax returns by the required deadlines and/or due dates without having to apply for any extensions.
With one phone call, The Fund found the answer to its challenges.