EFTA02529709

From: Sent: Friday, February 9, 2018 2:04 PM To: Jeffre Epstein Cc: Subject: Re: Jeffrey, I =ould like a little time to organize everything for a better discussion =n the whole financial picture. In the mean time I'm curious =our advice on where you would go for accounting classes. Someone =ecommended http://trainingthestreet.com last year or would you =ecommend taking a class at a physical or online university. Ideally =ith work it needs to be something I can do online while traveling or at =east partially. A tutor could also work but would need to find a good =ne. Any ideas or suggestions? Thanks! This message is directed to and is for the use of the =bove-noted addressee only, and its contents may be legally privileged =r confidential. If the reader of this message is not the intended =ecipient, you are hereby notified that any distribution, dissemination, =r copy of this message is strictly prohibited. If you have received =his message in error, please delete it immediately and notify the =ender. This message is not intended to be an electronic signature nor =o constitute an agreement of any kind under applicable law unless =therwise expressly indicated hereon. On Feb 7, 2018, at 9:03 AM, Jeffrey, Thank you! > wrote: I wasn't =gnoring your last request. I was pulling what info I could together. =ill report back. It's become complicated. Easier conversation. =ut to summarize a few of your questions below. 1. Agreed. The comps in =ur building are $3500/sq ft. For 2 and 5 floor apt with no outdoor =pace. If you take ours 2400 inside 1800 outside and use 50% for outdoor =t's roughly valued at 11.550m with 6m of debt. Being a =nique space done so well I think you could get more. Spoke to a few =rokers that agree but at the end of the day the market speaks. If EL =PO / CPH income isn't what I expect this year I would either =ell or rent it. I love the place but not going to put us in a bad place =gain over this apartment. 2. There are other significant assets. =his is what I was referring to as us sitting down to look at the whole =icture. 1.2cash, 1.6M in equities, 2.7m in hedge funds, 1m in Covis ,lm =n commerical rent generating real estate in NC, 1.7m in multifamily =hat pays quarterly dividends, a basket of other assets and investments. =hese are rough numbers off top of my head during break in meetings. I =an get more detailed when not on my phone. Been in meetings all morning =n FLL since 745. Establishment Labs is probably the biggest single =nvestment and doing the best. The "they" EFTA_R1_01672029 EFTA02529709 is better in =onversation. Not simple answer. I'll get you the details you =sked when I get back. Think of it roughly like this. I paid 3.75/share. =he current round is closing at 16/share and IPO roughly 18.50. Can sell =f we want 6month later. I haven't tried to sell my shares but =f I wanted to I could have sold to Perceptive Advisors at that price in =ast round. 3. Yes it will to finish. I have this modeled out and can get =ou exact numbers when back to office. It will take about 75% of the =emaining cash from refinancing. 4. Completely agree. This is my biggest =eakness in business and it's the most important. I will get on =his ASAP. 5. = have spent a lot of time in factory and with management team and =mployees. It's a good management team. Prior to investment and =fter. Also at trade shows with doctors and KOL's. The top =OL's has left Allergen and Mentor to EL. Also visited London =ospital Group that has most experience with EL. I have spent time with =effries team as well many times. Michael Robinson Managing Director of =ealthcare Investment Banking and Benjamin Lorello Global Head of =nvestmwnt Banking are running point on IPO. They were the ones that set =he expected valuation and time table. Shooting for June right =ow. All the =est, CPH This message is =irected to and is for the use of the above-noted addressee only, and =ts contents may be legally privileged or confidential. If the reader of =his message is not the intended recipient, you are hereby notified that =ny distribution, dissemination, or copy of this message is strictly =rohibited. If you have received this message in error, please delete it =mmediately and notify the sender. This message is not intended to be an =lectronic signature nor to constitute an agreement of any kind under =pplicable law unless otherwise expressly indicated =ereon. On Feb 7, 2018, =t 6:06 AM, Jeffrey E. <[email protected] <mailto:[email protected]> wrote: only as a result of you asking for my =dvice. I suggest the following. 1 =eal numbers are needed. real market =umbers. ie put the apt on the markeet to see =hat bids you get. ? ex ask for 10m = see what happens. 2. re the only other main asset. =stablishment lab. - the " they" that you refenced that =refer you not share numbers are not your advisors. = my understanding is that you have an overide on the 1 st =nvestment of 10 percent. and an investment of =m. there have been multiple financings in =etween and more to come. so . establish how many =hares you actually own now. how many total shares there are =n a diluted basis... valutation models mean little .. =hen have someone do a comp on silmilar cos based in costra =ica. . to detiremine possible future value. but =rankly hihgly unlikely in the next 18 months. , in the =lternative m, ask to see how much one of the others w0ould =ay for your current positoin. . lm 5m? . then =ubrtract taxes on gain. 3. the new york apt. =ill also require more capital . as it always does.. 4. =ake some accounting courses and financila reporting classes.. 5 =ts all about numbers. i see establishments PR is geared =owards hype and not substance.. its financing of 55m was =eported, but said partial debt. if someone told =ou that Jeffries is thining about taking it public CHECK =or yourself. call the person at Jeffries. the =ey -accurate numbers and NO SECOND hand info.. hard to =elieve that the team doesnt have better photos to put on their =eb and reports. very odd please note 2 EFTA_R1_01672030 EFTA02529710 The information contained in this =ommunication is confidential, may be attorney-client =rivileged, may constitute inside information, and is =ntended only for the use of the addressee. 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