EFTA02381958

From: Gianni Serazzi Sent: Sunday, August 16, 2015 7:11 AM To: jeffrey E. Subject: Re: I think your consideration is accurate. On top of it you should factor in -800k would go entirely into the company so that should be added as post mo=ey valuation -on top what is the value of new management (myself) coming in at zero sala=y? If we use market valuation that's quite an asset -I only count the cash once we have it, however we have a lawsuit going on =ith QVC the big client lost that stole our models internalizing them that =he lawyer says will pay minimum 300k and max 800k within 1 to 2 years -also please remember that it's written Ebitda but it's cash genera=ion pure and simple Adding these aspects it brings you to the 4m post money valu=tion that I honestly believe to be a fair value if I were sitting on the o=her side of the table Thx G On Aug 16, 2015 5:03 AM, "jeffrey E." =lt;[email protected] <mailto:[email protected]» =rote: ive looked carefully at the bad projections and the current numbers =AO only ebitda. it looks as if the value and comps only =ive it a 1.5--2.2 value . . <=iv dir="ltr"> please note <=iv>The information contained in this communication is confidential, may=be attorney-client privileged, may constitute inside information, and i= intended only for the use of the addressee. It is the property of J=E Unauthorized use, disclosure or copying of this communication or a=y part thereof is strictly prohibited and may be unlawful. If you have =eceived this communication in error, please notify us immediately by [email protected] <mailto:[email protected]> , and destroy this communication=and all copies thereof, including all attachments. copyright -all right= reserved EFTA_R1_01397714 EFTA02381958