This photo was taken in 1986 in the basement of David Ellefson's parents farm house in Jackson, Minnesota. Dave Mustaine and David stopped in to Jackson just after recording the Peace Sells album in L.A.; they were on their way to NYC to meet their soon-to-be manager, Keith Rawls and to be courted by Michael Alago of Elektra Records.
In the photo from left to right: Brad Schmidt (who had moved to Hollywood earlier with David Ellefson and Greg Handevidt, when they all first met Dave Mustaine in Hollywood), David, Dave, Greg and David's buddy, Jeff Yonker. By the time this photo was taken, Greg was out of the band but still a friend.
Greg was in the band with Dave and David from the beginning. Dijon Carruthers was the drummer. Dave, David, Greg, Dijon, and singer Lor Kane were the original Megadeth lineup, but only for a few weeks as Lor was released from the lineup quickly thereafter, Greg a few weeks after that and Dijon by late 1983 before drummer Lee Rausch was brought in by end of 1983.