EFTA02356694

From: Joe Avantario Sent: Wednesday, June 1, 2016 8:43 PM To: Jeffrey Epstein Cc: Brad Wechsler; John Castrucci Subject: 2016 Cash Flow Attachments: 2016 Cash flow 6.1.16.pdf We met with Leon to discuss the attache= cash flow today and the following points were raised for adjustment or st=ll as open items Adjustments 1) The Orchard Capital $20MM inves=ment will be paid over a few years. We are waiting for timing/amount estim=tes from Orchard. 2) The $2MM Judy Black Garden Trus= to be $0.3MM this year 3) The distribution assumptions to=Ben for his home construction would be reduced to $1.5MM for 2016 from $3.=mm Open Items 4) We agreed that the assumption f=r the moment would be that there are no capital gains from art sales due a= a result of 1031 exchange intentions 5) Sales taxes on 1031 exchange it=ms needs to be revisited 6) Hedge fund redemptions in 20161=017 should be confirmed re: redemption policies Please let me know if you have any ques=ions, Joseph Avantario Elysium Management, LLC 445 Park Avenue Suite 1401, New York, NY 10022 Tel. (646)589.0316 I Cell (914)450-8806 = EFTA_R1_01341763 EFTA02356694