Main article: Annual Report
See also: Crowdfunding platforms, Ambition vs. achievement

Mike Bawden

The Axanar Annual Report was a “valiant attempt at transparency [that] falls short of providing meaningful financial detail,” Axanar spokesman Mike Bawden said.

Responding to the findings of AxaMonitor‘s analysis of the report, Bawden characterized the report as a well-intentioned effort by Axanar producer Alec Peters gone awry:

Then there’s the fact that the report was prepared by management … rather than an accredited CPA [certified public accountant]. I’m sure Alec was just trying to save some money, but the appearance of a conflict of interest is as bad as a real one. And the things that were missed, in my opinion, are symptomatic of someone having to check his own work before publishing it.¹⁾

PROPWORX is the science-fiction props sales and auction company also owned by Alec Peters and housed on Axanar Productions’ property.

Among the report’s omissions were non-Kickstarter donations and clarification of the financial arrangements between Axanar Productions and Peters’ other for-profit business, Propworx, Bawden said.

The financial arrangements made between Propworx and Axanar Productions needed to be spelled out in more detail, too. The way I understand that deal, it’s legit, but it’s not addressed completely and, as a result, serves a fertile ground for people who only see Alec as a con-man or crook.²⁾

The report’s lack of detail regarding income also left out money Peters has personally contributed to the project, Bawden added:

I asked Alec where he classified all of his personal money he’s put into the project. … It’s not in [the report]. I know of at least two other donations totaling over $5,000 that didn’t make it into the report because they weren’t given as part of a Kickstarter or in cash but rather in equipment or as payments for required services — things that should be identified as “non-cash” donations.³⁾

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