From: Brad Wechsler

From: Brad Wechsler To: Jeffrey Epstein <[email protected]> Subject: Re: Date: Mon, 07 Nov 2016 00:08:26 +0000 Hi jeffrey-sorry I was out of pocket for the day. leon is still hoping we sell some art but impossible to predict the timing qualifies for the 1031's. Still ruminating on EY. On artspace we'll either sell to a third party at cheap price quickly (don't know if possible) or fold into phaidon assuming a very small cash burn (negative $500k-750k run rate vs 3mm originally asked for) or bjw suggestion of basically liquidate the business, take the tax write-offs ($3.5mm plus 2016 operating losses of $3mm) and move the email lists over to phaidon for potential ecommerce book sales. RA: minimum of significant pare back to $1.25mm of annual costs with more of a desire to exit the business if we can do it "peacefully" with judith.... Hope all well in europe and speak soon. B From: jeffrey E. <jeevacation®gmail.com> Date: Sun, 6 Nov 2016 08:41:56 -0500 To: Brad Wechsler5 Subject: did you get answers on friday fromleon. artspace regan 1031 , etc. e and y? please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation®gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved IMAX£-J is a registered trademark of IMAX Corporation IMPORTANT NOTICE Information contained in this e-mail correspondence and any attachments is confidential information intended only for the use of the individual or entity named above. Any reader of this message who is not the intended recipient of this correspondence is hereby notified that any dissemination. distribution. copying or communication of the contents of this correspondence is strictly prohibited. If this e-mail was not addressed to you . please immediately notify us by phone in Canada at (905) 403-6500 (collect calls will be accepted) or by email at and delete and destroy this correspondence inadvertently sent to you. Thank you EFTA01062593