From: Gianni Serazzi To: "Jeffrey E." <jeevacation®gmail.com> Subject: Re: Date: Sun, 16 Aug 2015 07:10:47 +0000 I think your consideration is accurate. On top of it you should factor in -800k would go entirely into the company so that should be added as post money valuation -on top what is the value of new management (myself) coming in at zero salary? If we use market valuation that's quite an asset -I only count the cash once we have it, however we have a lawsuit going on with QVC the big client lost that stole our models internalizing them that the lawyer says will pay minimum 300k and max 800k within I to 2 years -also please remember that it's written Ebitda but it's cash generation pure and simple Adding these aspects it brings you to the 4m post money valuation that I honestly believe to be a fair value if I were sitting on the other side of the table Thx G On Aug 16, 2015 5:03 AM, "jeffrey E." <jeevacation@gmail.com> wrote: ive looked carefully at the bad projections and the current numbers only ebitda. it looks as if the value and comps only give it a 1.5--2.2 value .. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of WE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation®gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00685292