From: jeffrey E. <[email protected]> Sent: Wednesday, July 13, 2016 10:49 PM To: Joe Avantario Subject: Re: Cash flow so why isnt it in uses? On Wed, Jul 13, 2016 at 6:46 PM, Joe Avant=rio > wrote: This is the intended repayment of a b=idge loan that was taken for non-art uses. OK Thanks From: jeffrey E. [mailto:[email protected] Sent: Wednesday, July 13, 2016 6:44 PM To: Joe Avantario Subject: Re: Cash flow why is there a 20 million with parenthesis =AO in sources and art loan? there should never be =arenthesis . ever . there are sources there =re uses. there is also beginning cash and beginning debt. =AO final cash and final cash. you should assume the plane value at 12. so an 80 percen= loan would be 9.6. , . assume the boat to b= 12 net. . and miami at 14. net. On Wed, Jul 13, 2016 at 6:34 PM, Joe Avantario «= href= wrote: We update our cash flow on a weekly basis on Thursdays. </=> • In preparing a draft of that with the major changes, besides the thi=gs I mentioned to you previously, we are moving the $40MM in art sales to =he end of the year based on our discussion with Leon. • This move together with some new art purchases and other unknowns (i=e. the exact pay down amount for the plane loan) is creating a deficit for=us. • We intend to deal with those issues by increasing the art loan. <=u> • We have conceptually discussed these items with Leon and will be add=essing the proposed increase amount with him shortly. EFTA_R1_01560116 EFTA02456712