From: "Gmax" To: "jeevacation®gmail.com" Subject: Fw: Equity positions Date: Tue, 25 May 2010 13:21:40 +0000 Attachments: icorrect.tif Fyi Original Message From: Sir To: Gmax; • • Sent: Tue ay . . Subject: Equity positions You will be pleased to know that we are on the brink of launching ICorrect, believe it or not! It is, therefore, important for me to summarize the equity position of the company. Between November 06 and April 08, each of us contributed equally 145K. Between May 08 and February 09, I had put an extra 23K for miscellaneous expenses, which I will be happy to treat as a shareholders loan. In November 09,I wrote to you both giving you an opportunity to participate in a further equity investment of 250K, which both of you declined and which I have now spent. In other words, our present equity is as follows:- Maxwell: 145K (21.17%) Weinberg: 145K (21.17%) DT 395K (57.66%) According to the latest business plan, which I will send you within a week, roughly US$1 million will be required to launch the company in July. I am underwriting this amount, and want to make it fair for you both to participate in this latest capital requirement. The two extreme positions are as follows (please see attached tables):- a. No participation from either of you would result in the following equity position:- Maxwell: 145K (8.61%) Weinberg: 145K (8.61%) DT: I ,395K (82.79%) b. On the assumption of both of you following the increased equity by each contributing 2 1 I.7K, and mine to be 971.6K, then the position EFTA00757510