1 .4 This application is submitted in compliance with the Order - PDF document

NIGHT BOX FILE D Nov -1 200 5 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORID A FORT LAUDERDALE DIVISIO N CLARENCE SDF~ C FT L CLERK, SECURITIES AND EXCHANGE COMMISSION Plaintiff , V . MICHAEL LAUER , LANCER MANAGEMENT GROUP, LLC, and LANCER MANAGEMENT GROUP II, LLC , Defendants , an d Case No . 03-80612 CIV-MARRA Jointly Administere d LANCER OFFSHORE, INC ., LANCER PARTNERS, LP, OMNIFUND, LTD . , LSPV, INC ., and LSPV, LLC , Relief Defend an ts . In re : LANCER PARTNERS L .P ., Chapter 11 Cas e Case No . : 04-8021 1 -CIV-MARR A Debtor . SUMMARY OF 2"d INTERIM FEE APPLICATIO N (Request for Relief in Bankruptcy Case Proceeding Only ) 1 . Name of Applicant : Kapila & Company CPA s 2 . Role of Applicant : Testifying Expert for Receiver , Marty Steinberg 3 . Name of Certifying Professional : Soneet R. Kapila, CPA

4 . Date of Fee Application : July 27, 200 5 Dates of Services Reimbursement Sought : 12/01/04 - 06/30/0 5 5 . 6 . Total Gross Amount of Requested Professional Fee : $44,833 .0 0 7 . Interim Fee Received : 0 .0 0 0 .0 0 8 . Remaining Non-Awarded Fee Retainer Received : Remaining Non-Awarded Professional Fee Payment s 9 . from Other Sources : 0 .0 0 $44 ,833 .0 0 10 . TOTAL NET AMOUNT OF REQUESTED PROFESSIONAL FEE : 11 Total Gross Amount of Requested Reimbursement of Disbursement s 300 .3 1 and Expenses for Application Period (From Schedule 2) : 12 . Interim Costs Received : 0 .0 0 13 . Remaining Non-Awarded Cost Retainer Received : 0 .0 0 14 . Remaining Non-Awarded Other Cost Payments : 0 .0 0 15 . TOTAL "NET" AMOUNT OF REQUESTED DISBURSEMENTS : $ 300 .3 1 TOTAL GROSS REQUESTED AWARD (FEES & COSTS) : $45,133 .3 1 16 . 17 . TOTAL NET REQUESTED AWARD (FEES & COSTS) $45,133 .31

Lancer Partners, L .P . Case No . 9 :04cv8021 1 Summary of Requested Reimbursement of Expenses and Disbursements Prepared in Accordance With and Allowable Under the Guidelines for Fees and Disbursements for Professionals in the Southern District of Florida Bankruptcy Case s $0 .0 0 1 . Filing Fee s $0 .0 0 2 . Process Service Fees $0 .0 0 3 . Witness Fee s 4 . Court Report and Transcripts $0 .0 0 $0 .0 0 5 . Lien and Title Searche s 6 . Photocopies : a . In-House (58 copies @ $0 .15) $ 8 .7 0 b . Outside copies $0 .00 7 . Postage $0 .00 8 . Overnight Delivery Charges $0 .00 9 . Outside Courier/Messenger Services $43 .87 10 . Long Distance Telephone Charges $0 .24 11 . Long Distance Facsimile Charges $0 .00 12 . Computerized Research $0 .00 13 . Out of Southern District of Florida Travel $0 .00 14 . Other (not specifically disallowed, must be specified ) a . Research Institute 247.50 Total Gross Amount of Requested Disbursements $300 .31

Lancer Partners, L .P . Case No . 9 :04cv8021 1 Case Informatio n 1 . Date Case Filed : April 16, 2003 in District of Connecticut, Bridgeport Divisio n transferred to District Court, Southern District of Florida on March 19, 2004 . 2 . Date of Application for Employment : April 29, 2004 nunc pro tunc to March 1 , 200 4 3 . Date of Order Approving Professional Employment : May 21, 200 4 4 . Date(s) and Source(s) of Retainer : Non e 5 . Total Amount of Fee Retainer Received : Non e 6 . Total Amount of Cost Retainer Received : Non e N/ A 7 . Date of Disclosure of Compensation (FRBP 2016) : 8 . Total Prior Interim Professional Fees Awarded : $103,017 .0 0 A . i . Dates Covered by Application : 03/01/04 - 11/30/04 ii . Amount Requested : $103,017 .0 0 iii . Total Amount Awarded : $103,017 .00 iv . Amount of Use of Fee Retainer Approved : N/ A v . Amount Above Use of Fee Retainer Approved : N/A vi . Date Awarded : 06/13/0 5 vii . Amount Paid : $103,017 .0 0 9 . Total Prior Interim Costs Awarded : $128 .0 5 A . i . Dates Covered by Application : 03/01/04 - 11/30/04 viii . Amount Requested : $128 .0 5 ix . Total Amount Awarded : $128 .0 5 X . Amount of Use of Fee Retainer Approved : N/ A xi . Amount Above Use of Fee Retainer Approved : N/A xii . Date Awarded : 06/13/0 5 xiii . Amount Paid : $128 .0 5 10 . Total Professional Fee Payments From Other Sources : None 11 . Total Cost Payments from Other Sources : None

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORID A FORT LAUDERDALE DIVISIO N SECURITIES AND EXCHANGE COMMISSION Plaintiff , V . MICHAEL LAUER , LANCER MANAGEMENT GROUP, LLC, and LANCER MANAGEMENT GROUP II, LLC , Defendants , and Case No . 03-80612 CIV-MARRA Jointly Administere d LANCER OFFSHORE, INC ., LANCER PARTNERS, LP, OMNIFUND, LTD ., LSPV, INC ., and LSPV, LLC , Relief Defendants . In re : LANCER PARTNERS L .P ., Chapter 11 Cas e Case No . : 04-8021 1 -CIV-MARR A Debtor . 2nd INTERIM APPLICATION FOR ALLOWANCE AND PAYMENT OF COMPENSATION FOR SERVICES RENDERE D AND REIMBURSEMENT OF EXPENSES TO TESTIFYING EXPER T FOR THE RECEIVER FOR THE PERIOD DECEMBER 1, 2004 TO JUNE 30, 2005 (Request for Relief in Bankruptcy Case Proceeding Only ) Soneet R . Kapila, C .P .A . and Kapila & Company, Certified Public Accountants (collectively the "Applicant" or "Kapila"), the Testifying Expert for Marty Steinberg, the Receiver (the "Receiver") of the Debtor, Lancer Partners, L .P . (the "Debtor"), applies for Interim Allowance And Payment Of Compensation For Services Rendered And Reimbursement Of

Expenses Incurred in this Chapter 11 proceeding , and respectfully represents : 1 . BACKGROUND OF CASE , RETENTION OF KAPILA & COMPANY DISCLOSURE OF COMPENSATION AND REQUESTED AWAR D 1 .1 The Applicant is a firm of Certified Public Accountants with offices located at 1000 South Federal Highway, Suite 200, Fort Lauderdale, Florida, 33316 . Pursuant to an Order of the Court dated May 21, 2004, the Receiver was authorized to employ the Applicant as his Testifying Expert in these proceedings, nunc pro tunc to March 1, 2004 . 1 .2 This application is submitted pursuant to §-- 330 and 503(b) of Title 11, United States Code (the "Bankruptcy Code"), for allowance to the Applicant as an administrative expense of $44,833 .00 for accounting services performed and $300 .31 for costs incurred from December 1, 2004 through June 30, 2005 . 1 .3 Applicant specifically reserves the right to file additional or supplemental fee applications requesting awards of compensation and reimbursement of expenses for the period from August 16, 2004 through the Receiver's liquidation of the Debtor's estate . 1 .4 This application is submitted in compliance with the Order Approving and Adopting Guidelines for Fees and Costs for Professionals, Administrative Order 92-7, dated January 22, 1992 . Attached hereto as Exhibit D is the Certification by the Certifying Professional that all guidelines have been met . 2 . PROCEEDINGS AND RELEVANT BACKGROUN D 2 .1 This case was commenced on April 16, 2003, by the filing of a petition under Chapter 11 of the Bankruptcy Code in the District of Connecticut, Bridgeport Division . Marty Steinberg was appointed Receiver of the Debtor pursuant to an Order dated July 24, 2003 . The bankruptcy case was transferred from the District of Connecticut on March 19, 2004 to the

Federal District Court in the Southern District of Florida . 2 .2 The Receiver determined that he required the assistance of a testifying expert to provide reliable assessments of the debtor's solvency/insolvency at various points in time preceding the April 16, 2003 bankruptcy filing in order to support the avoidance and recovery of voidable transfers of assets . Accordingly, the Receiver filed with this Court an Application dated April 29, 2004 for Employment of Kapila as Testifying Expert for the Receiver . 2 .3 The Applicant possesses credentials of the highest order in providing such litigation support expert services, especially as they relate to debtors in bankruptcy . 3 . EVALUATION OF SERVICES RENDERE D 3 .1 During the period covered by this application, the Applicant performed detailed services for the Receiver of these proceedings . 3 .2 The outstanding professionalism with which the Applicant has carried out its important role has contributed significantly to the efficient and effective administration of the estate . 3 .3 Business Analysi s Hours Expended : 247 .85 Fees Requested : $44,641 .00 Blended Rate : $180 .1 1 The Applicant is in the process of preparing a solvency/ insolvency analysis of th e Debtor for the Receiver' s use in pursuing avoidance and recovery of fraudulent transfers . Th e Applicant has expended tremendous effort analyzing the investment holdings of the Debtor at numerous points in time . In conjunction with this analysis, the Applicant has reviewed volumes of documents maintained electronically by the Receiver . The Applicant has also prepared formal estimates of value for several of the Debtor's equity holdings at various points in time .