Re: Adam Bly

i'm interested

--- Cecilia Steen cecilia.steen@gmail.com wrote:

SENT VIA E-MAIL —STRICTLY CONFIDENTIAL

12/21/05

Jeffrey:

Here is what I have in mind re a potential deal.
Very preliminary.

Seed Media Group LLC completed the first part of a
Series A financing
in May 2005 where $4.05 million was raised at a
pre-money valuation of
$5 million. The lead investors in the Series A, The
Walnut Group
(private equity) and Innovium Capital (venture
capital), will be
investing an additional $3.0 million in February
2006 as follow-on to
the round, for a total Series A raise of $7.05
million. Walnut and
Innovium have soft-circled an additional $2 million
to be made
available to the company in March, for a grand total
of $9.05 million.

I would like to offer you the opportunity to
purchase the final $2
million worth of Series A Preferred shares as part
of this follow-on
financing instead of Walnut and Innovium. My aim is
to diversify our
shareholder base and bring additional perspective to
the Board. Plus, I
have a gut feeling we'd work well together.

Of course, a full term sheet and additional
financials will be made
available as needed. Use of proceeds will include:
expansion of digital
media portfolio (including broadband, blogs,
podcasting and news) and
addition of new executives in general operations,
advertising sales and
content. Projected revenues in 2006 are $6-8
million, near break-even
EBITDA. We plan to do a Series B in 2007 at a
significantly higher
valuation.

We are launching ScienceBlogs LLC in the coming
weeks (wholly owned sub
of Seed Media Group), the largest online community
dedicated to science
and the largest collection of science blogs —total
unique monthly
audience well over 1 million.

Adam

Cell: (514) 975-2593

Do You Yahoo!?
Tired of spam? Yahoo! Mail has the best spam protection around
http://mail.yahoo.com