{
  "schema": "gah.source-manifest.v1",
  "slug": "adfin-southern-trust-series-a-2013",
  "title": "AdFin: Two Southern Trust Wires, 1,428,571 Series A Shares",
  "published": "2026-09-30",
  "scope": "BANK-5 reconstruction of Southern Trust Company's two funded 2013 AdFin Solutions Series A subsequent closings and resulting preferred-share ownership.",
  "evidence_package": "/Volumes/homes/admin/GAH_US_RUN9_ADFIN_VALAR_MASTER.md",
  "sources": [
    {
      "id": "ADFIN-SPA",
      "class": "PRIMARY_EXECUTED_LEGAL_AGREEMENT",
      "record": "EFTA00289560",
      "url": "/pdf-lite?id=EFTA00289560",
      "supports": "Executed Series A SPA; $0.4375/share; April and July subsequent-closing purchaser schedules; Southern Trust 1,142,857 + 285,714 shares; scheduled prices $499,999.94 + $124,999.87.",
      "limit": "Does not by itself prove bank settlement; bank records below do."
    },
    {
      "id": "ADFIN-APRIL-BANK",
      "class": "PRIMARY_BANK_TRANSFER_REQUEST",
      "record": "EFTA01579892",
      "url": "/pdf-lite?id=EFTA01579892",
      "supports": "Apr. 10, 2013 Southern Trust $500,000 transfer to AdFin; payment details state subscription for Series A Preferred.",
      "limit": "Nominal bank amount differs by $0.06 from scheduled legal purchase price."
    },
    {
      "id": "ADFIN-JULY-BANK",
      "class": "PRIMARY_BANK_STATEMENT",
      "record": "EFTA01500582",
      "url": "/pdf-lite?id=EFTA01500582",
      "supports": "Jul. 15, 2013 Southern Trust $125,000 Fedwire debit to AdFin for Series A preferred subscription.",
      "limit": "Bank posting date precedes Jul. 23 legal subsequent-closing date."
    },
    {
      "id": "ADFIN-CERT",
      "class": "PRIMARY_INTERNAL_FILE_TRACKING_EMAIL",
      "record": "EFTA00392047",
      "url": "/pdf-lite?id=EFTA00392047",
      "supports": "Groff tracks missing Southern Trust stock certificate for 1,142,857 April Series A shares.",
      "limit": "Certificate image itself is not OCR-recovered; ownership also appears in executed SPA."
    },
    {
      "id": "ADFIN-INTRO",
      "class": "PRIMARY_EMAIL",
      "record": "EFTA00396676",
      "url": "/pdf-lite?id=EFTA00396676",
      "supports": "Jan. 2013 Mitchell request to meet Epstein on AdFin and CEO; Epstein approves scheduling.",
      "limit": "Introduction evidence, not investment authority."
    },
    {
      "id": "RUN9",
      "class": "GAH_RECONSTRUCTION",
      "record": "GAH_US_RUN9_ADFIN_VALAR_MASTER.md",
      "supports": "Two-closing reconciliation, ownership totals, investor-role separation, product classification, negative-control searches and BANK-5 classification.",
      "limit": "Archive-created synthesis; controlling ownership and cash claims remain tied to primary records."
    }
  ],
  "reconciled_amounts": {
    "bank_wires_total": 625000.0,
    "executed_schedule_purchase_price": 624999.81,
    "rounding_difference": 0.19,
    "shares": 1428571,
    "series_a_class_after_july": 7940935,
    "series_a_percentage_approx": 18.0
  },
  "open_questions": [
    "Whether Southern Trust ever disposed of or redeemed the AdFin position and at what value.",
    "Whether the optional $225,280 later investment was ever funded outside the recovered bank set.",
    "Whether the physical stock-certificate image can be recovered.",
    "The final economic outcome of Southern Trust's stake after later dilution/financing events."
  ],
  "not_established": [
    "A profitable exit or redemption.",
    "Exercise of the later optional investment.",
    "Epstein as an AdFin director or unilateral control person.",
    "Political-ad, government/intelligence, or user-profile targeting activity by AdFin on the recovered record.",
    "A technical/data bridge from AdFin to Reporty/Carbyne or Barak-linked companies."
  ]
}