Qtip Corp and Maxey Corp: Investments
Qtip Corp owns stock in Maxey Corp. The investment represents a 10% interest and Qtip is unable to exercise significant influence over Maxey. The Maxey stock was purchased by Qtip on January 1, 2002 for $23,000. The stock consistently pays an annual dividend to Qtip of $2,000. Qtip classifies the stock as available for sale.