EFTA02524626

From: Paul Barrett < Sent: Saturday, February 17, 2018 1:12 AM To: Jeffrey Epstein Subject: Amazon business Jeffrey The Amazon lending business I invested in is looking to raise one year money at 12%. They are looking for $3-4mm as part of this first debt raise. There is a 15% equity first loss tranche beneath the 12% Notes. Assuming you get 2 quarterly coupons you need a lyr cumulative loss of 21% before you lose any principal which is highly unlikely given the underlying loan book. They are forecasting 5-6% cumulative annual losses. Given the amount of data we have from Amazon, their credit underwriting makes me comfortable with this estimate. Recall they are making 3.9 month loans in the 20%-25% range. Average size of around $25K. Repayment of principal and interest (via ACH debit) begins after 1-3 months. So effective duration is very short. We can discuss more if you like but at 12% I want you to have first look. For full disclosure I own 3% of the company and have money in the first loss equity tranche (along with Anthony and John). Down the road as they develop a longer default history the equity tranche could be very interesting. Let me know. Paul Paul Barrett Alpha Group Capital LLC 142 W 57 <x-apple-data-detectors://0/1> th <x-apple-data-detectors://0/1> Street, 11 <x-apple-data-detectors://0/1> th <x-apple-data-detectors://0/1> Floor, New York, NY 10019 <x-apple-data-detectors://0/1> <tel > (o) <tel > (c) EFTA_R1_01663890 EFTA02524626