To be clear, the FO wr= ites up the books of Phaidon Global LLC. Any money borrowed from BFP LP (on= LOC) is then funded at FO instruction to Phaidon Press Ltd or as equity fu= nding of Regan Arts LLC. Attached is 9/30/14 financials prepared by FO for Phaidon Global LLC Phaidon Press Ltd has = booked the amounts received as long term liability. Attached are 12/3= 1/2013 financials of Phaidon operating entities a/o12131/2013 (attached ema= il). From: Julie Li Sent: Monday, October 06, 2014 3:12 PM To: Richard Joslin Subject: Phaidon Global 9/30/14 BS and PL See attached Julie Li <= o:p> Elysium Management = LLC 445 Park Avenue Ste 14= 01 New York NY 10022= 646-589-0310 &nbs= p; EFTA01197618