EFTA02492249

From: jeffrey E. <jeevacation@gmail.com> Sent: Friday, August 14, 2015 3:40 PM To: Gianni Serazzi Subject: Re: Can you please call me when you can? not close On Fri, Aug 14, 2015 at 11:36 AM, Gianni Serazzi > wrote: They told me - 105 total value, the equity was —30. Just report=ng what the Fashion guys told me, unfortunately was not part of the deal, =ut will be of the next one :) wrote: G On Fri, Aug 14, 2015 at 5:32 PM, jeffrey E. <jeevacation@gmail.com <mailto:jeevacation@gmail.com> wrote: goldengate paid less than 30 On Fri, Aug 14, 2015 =t 3:26 AM, Gianni Serazzi <=lockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:lpx=#ccc solid;padding-left:lex"> Sure, here is the bridge=/div> 1-The excel is the budget as you can see from 18 =onths ago 2-The data communicated to you yesterda= is the actual of 2015 up to today 3-The 2014 bud=et was forecasting 4,590 2morrow + 0,353 2day = 4,943M or sales without =xpenses reinvoicing to create a profit of 878'865 (all un Euros) 4-The actual for 2015 shows t=tal invoicing without expenses of 3,703M and - 4.4M with expenses rei=voiced. The profit is 438K. I am attaching the file that I do every=month as usual 5-The underperformanceresctructure Italy as mentioned to bring it=to its full potential and why I bought back and removed Giancarlo from leadership role that I will take. I know what to do and the root =ause of it. We lost 2 of our biggest clients as they decided to move produ=tion abroad and internalize modeling. Then Giancarlo fired la=t year our number one dire=tor for personal reasons against my advice but promised to sti=l deliver on the budget. Clearly these results did not materialize and tha='s why he agreed to step down without any fight and to become just an =mployee.Third the directors did not have responsibility to deliver and Giancarlo's mother problems did not allow him to be present i= the company more than a couple of days per week this year. Despite all of=this the company was not delivering the budget but holding on. Since July = have changed 2 directors out of 4 and now need to invest for a strong dir=ctor for the 3rd table (the 4th director is perfect). EFTA_R1_01614862 EFTA02492249 =div>6-The growth will require net working capital as we pay models, apartm=nts, tickets immediately (the only agency in the world that pays immediate=y and has no bank debt that I know of) but we receive the cash from client= 3-4 months after. Of the 800K needed not one penny will come to my pocket=, it all goes into the companies to boost growth. =div> 8-The mid-=erm strategy is to leverage the italian operations (that has to become just perfect) and using th= brand name that built 14 years ago and the business procedures that=l created get the appropriate models to have successful operations in Pari=, London, NY and Miami. Fashion models (that I wanted to buy with you) did=the same launching Next models and then selling it to Goldengate Private Equity for - 105M$. They =id it investing 8ME that came almost entirely from their free cash flow of=the italian=/span> operations=over —4 years. You might know the story in more detail than myself. If the= did it I can for sure Thx G On Fri, Aug 14, 2015 at 5:54 AM, jeffrey E. &l=;jeevacation@gm=il.com <mailto:jeevacation@gmail.com» wrote: ??? Forwarded mess=:e From: G Sera < Date: Thu, Feb 27, 2014 at 7:50 AM Subjec=: Re: Can you please call me when you can? To: Jeffrey Epstein <jeevacation@gmail.co=> Jeff, here are the num=ers of 2morrow and 2day. This is the cash flow I review monthly and what l=use to keep operations under control. Cash flow is much better than accoun=ing for this purpuse as a properly run modeling operation does not generat= long term payables (we pay the models immediately after teh job). I =uickly put the lablels in english please let me know if anything is not cl=ar. 2day was launched a little over 1 year ago and will be cashflow positi=e in approx 6 months. I then am sending a second file for NologoMGMT (forme= Future). This is separate because there is another GM there (Mauro instea= of Giancarlo). The company was launched only 18 months ago and is cash- fl=w positive as you can see. 2 EFTA_R1_01614863 EFTA02492250 On Thu, Feb 27, 2014 at 11:51 AM, Jeffrey Epstein <jeevacation@gmail.com <mailto:jeevacation@gmail.com» wrote: can you send me the numbers=for 2 morrow 2day etc. . On Wed, Feb 26, 2014 at 6:42 PM, G Sera =span dir="Itr" <main wrote: When you want. Thank you for your=guidance On Wednesday, February 26, 2014, =effrey Epstein <jeevacation@gmail.com <mailto:jeevacation@gmail.com» wrote: Talk this weekend On Wednesday, February 26, 2014, = Ser wrote: I agree but they ask me to commit to a 3 year time. I am sure they will put=some good money behind the commitment but that's nt the point. The low risk solution for me is to take position and keep the re=t on the side, but you are very smart and experienced and I value your inp=t. I never like to feel like I have to do anything, even if it's a great o=portunity and a step up. I am built like that. I very =uch appreciate your thoughts. O= Wednesday, February 26, 2014, Jeffrey Epstein <jeevacation@gmail.co=> wrote: what would you Ike to do. =A0 why not take the new position , at least for awhile. „ no downs=de, otherwise present me a biz plan On Wed,=Feb 26, 2014 at 4:18 PM, G Sera wrote: 3 EFTA_R1_01614864 EFTA02492251 Thank you Thank you Gianni *•** ** ********* *****0* =********************•***********0* The information contained in this c=mmunication is confidential, may be attorney-dient privileged, may constitute inside information, and is intended only for the use of the a=dressee. It is the property of Jeffrey Epstein Unauthorized use, di=closure or copying of this communication or any part thereof is strictl= prohibited and may be unlawful. If you have received this communication in error, p=ease notify us immediately by return e-mail or by e-mail to jeevacat=on@gmail.com, and destroy this communication and all copies thereof, including all attachm=nts. copyright -all rights reserved The information contained in this communication is confi=ential, may be attorney-client privileged, may constitute inside inform=tion, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unau=horized use, disclosure or copying of this communication or any part th=reof is strictly prohibited and may be unlawful. If you have received t=is communication in error, please notify us immediately by return e-mail or=by e-mail to jeevacation@gmail.com, and destroy this communicati=n and all copies thereof, including all attachments. copyright -all rights reserved 4 EFTA_R1_01614865 EFTA02492252 The information contained in this c=mmunication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the a=dressee. It is the property of Jeffrey Epstein Unauthorized use, di=closure or copying of this communication or any part thereof is strictl= prohibited and may be unlawful. If you have received this communication in error, p=ease notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, =nd destroy this communication and all copies thereof, including all attachm=nts. copyright -all rights reserved =C2 please note The in=ormation contained in this communication is confidential, may be attorn=y-client privileged, may constitute inside information, and is intended=only for the use of the addressee. It is the property of JEE<=pan> Unauthorized use, disclosure or copying of this communication o= any part thereof is strictly prohibited and may be unlawful. If you ha=e received this communication in error, please notify us immediately by=br>return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communicat=on and all copies thereof, including all attachments. copyright -all ri=hts reserved =C2 please note The informat=on contained in this communication is confidential, may be attorney-cli=nt privileged, may constitute inside information, and is intended only =or the use of the addressee. It is the property of JEE Unauthoriz=d use, disclosure or copying of this communication or any part thereof =s strictly prohibited and may be unlawful. If you have received this 5 EFTA_R1_01614866 EFTA02492253 return e-mail o= by e-mail to j=evacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies =hereof, including all attachments. copyright -all rights reserved </=iv> please =ote The information contained in this communication is confiden=ial, may be attorney-client privileged, may constitute inside informati=n, and is intended only for the use of the addressee. It is the propert= of JEE Unauthorized use, disclosure or copying of this communica=ion or any part thereof is strictly prohibited and may be unlawful. If =ou have received this communication in error, please notify us immediat=ly by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail=com> , and destroy this comm=nication and all copies thereof, including all attachments. copyright -=11 rights reserved 6 EFTA_R1_01614867 EFTA02492254