EFTA01784102

From: Joe Avantario Sent: Wednesday, July 13, 2016 10:34 PM To: Jeffrey E. Cc: Brad Wechsler; John Castrucci Subject: Cash flow We update our cash flow on a weekly basis on=Thursdays. In preparing a draft of that with the major =hanges, besides the things I mentioned to you previously, we are moving th= $40MM in art sales to the end of the year based on our discussion with Le=n. • This move together with some new art purchas=s and other unknowns (i.e. the exact pay down amount for the plane loan) i= creating a deficit for us. • We intend to deal with those issues by incre=sing the art loan. * We have conceptually discussed these items w=th Leon and will be addressing the proposed increase amount with him short=y. Joseph Avantario Elysium Management, LLC 445 Park Avenue Suite 1401, New York, NY 10022 Tel Ce 1 EFTA_R1_00105156 EFTA01784102