From: Richard Kahn < Sent: Thursday, August 14, 2014 9:36 PM To: jeffrey E. Subject: 7/31/2014 Valuation Report Attachments: SHBRK Scann14081417031.pdf, Untitled attachment 00013.htm Please =ote projected 12/31/2014 cash balance as we =iscussed: 7/31/2014 Cash balance =/span> 147,000,000 8/31/2014 =ighbridge Redemption 59,000,000 10/15/2014 =eon fee = 25,000,000 12/15/2014 Leon to =nhanced =/span> =nbsp; 10,000,000 Spending Aug - Dec (1.2mm per =o) (6,000,000) Projected 12/31/2014 cash =alance =*) 235,000,000 (*) =oes not include any equity or fixed income sales or =urchases Richard Kahn HBRK Associates =nc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel =12-971-1306 fax 646350.0954 cell Begin forwarded message: From: Subject: =/b>Message from =MBT_C253 Date: =/b>August 14, 2014 at =:03:36 PM EDT To: = Reply-To: EFTA_R1_02150435 EFTA02715989