Question (Paul Barrett, 10/6/2017)

From: Paul Barrett Sent: 10/6/2017 1:50:31 PM To: Martin Zeman CC: Stewart Oldfield [ Subject: Question Martin My question for Sebastian regards the definition of a Financial Entity. My understanding of a Private Fund is typically a hedge fund or private equity fund. Southern Financial LLC is wholly owned by the Principal and does not take outside money. The sole purpose is to hold some of his assets. Therefore we are inclined to say that we are not a Private Fund and therefore not