EFTA02452709.pdf

From: Richard Kahn Sent: Wednesday, ay , To: Jeffrey E. Subject: Next - Other notes 1) =illie is in over her head and a terrible leader whose books are a =ess.. 2) Outstanding =hecks totaling 904,024 that may have to be reissued (137,557 of this total is from a bank account =hat is closed) 3) Accounts payable has many debit balances which are really =ccounts receivable from models that will never be collected 4) Accounts receivable overstated by =50,000 (a lot larger than 250,000 allowance on books) =/span> 5) Books have a federal tax payable number of =,721,662 which will not be paid..and poses other issues.. 6) Sage software used by =ookers does not talk to accounting department 7) Accounting department has employees =hat have worked 25.30 years that earn between 44,000 - 55,000 =/span>-> employees are hired from craigs list and agencies in =hinatown -> average employee salary is =0,000 and millie makes 10-15x that -> amount... 8) London bills paid =rom NYC 9) Next sends 75-100 wires per week - extremely =nefficient 10) Money in foreign entities has not been taxes in US and =ill be taxed when distributed making UK & Italy (8.6mm) cash =seless.. Richard Kahn HBRK Associates Inc. 1 EFTA_R1_01553278 EFTA02452709