X0202 4 2006-06-09 0 0001125532 MFC DEVELOPMENT CORP mfcd.ob 0001346464 JEFFREY S. EDELL & ELAINE HASTINGS EDELL, AS TRUSTEES OF THE EDELL FAMILY TRUST DATED JUNE 1, 1991 5244 BRIDGETOWN PLACE WESTLAKE VILLAGE CA 91362 0 0 1 0 Common stock $.001 par value 2006-06-09 4 D 0 1950000 0 D 3852957 D Pursuant to a transition services agreement dated June 9, 2006, between MFC Development Corp ("the Company") and Jeffrey S. Edell, in connection with his resignation as President and Co-Chief Executive Officer of the Company, Mr. Edell is surrendering to the Company 500,000 shares of common stock that is owned beneficially by him in the name of Jeffrey S. Edell and Elaine Hastings Edell, as trustees of the Edell family trust dated June 1, 1991 ("the Trust"). In addition, Mr. Edell is also surrendering to the Company, the full amount of the 1,450,000 shares that he may be entitled to, which are being held in accordance with the terms of an escrow agreement dated Novemebr 29, 2005. Includes 2,957 shares owned by Jeffrey S. Edell's minor daughter. Jeffrey S. Edell 2006-06-12