EFTA00690588.pdf

From: David Mitchell To: jeffrey E. <[email protected]> Subject: Re: Fwd: Date: Sat, 03 Jun 2017 21:00:25 +0000 It is under funding to date on the source side DAVID MITCHELL Mitchell Holdings LLC USA On Jun 3, 2017, at 4:59 PM, jeffrey E. <[email protected]> wrote: yes, but where is the reimbursbale on the project costs or funding of On Sat, Jun 3, 2017 at 4:57 PM, David Mitchell < wrote: Footnote should read in two sections somehow it got consolidated and reformatted when I sent out First round of investor notes will be paid from loan modification And the reimbursements owed to me as of May 17 were $991,689 As it reads now it indicates that the reimbursements were paid or to be paid from loan modification DAVID MITCHELL Mitchell Holdings LLC Sm. On Jun 3, 2017, at 4:25 PM, David Mitchell wrote: fyi, DAVID MITCHELL Mitchell Holdings LLC EFTA00690588  SA Begin forwarded message: From: Date: June 3, 2017 at 4:24:18 PM EDT To: please find the up to date information This does not take in account mini construction loan funding from DB to cover the extras and the buildout of back four rooms The request was $860,237 , which would reduce if granted the the second round of investor notes by that amount It was not included as it has not been approved <Life Hotel - Overview of Costs & Funding.pdf> As you know , unlike months prior the bank has not released the revenues from the lockbox on inter- month basis which has caused stress to the situation As you know for last two weeks I personally have covered the payroll for the hotel In regards to the hotel payables I have been working with Alan to create a strategic plan for next 7 days to see if there any emergencies As of Friday we have identified $16,500 at the hotel and $3800 at the restaurant company Both which I will cover on Monday Assuming bank release lock box and insurance escrow on June 9 Lockbox estimate $273,041 Insurance escrow $159,000 Obviously this will free up cash to payout current and hopefully some past expenses Current budget number available to the hotel is $323,599.22 I also have been working with Alan to plan out the use of the shortfall reserve in the loan of $2,000,000 for the hotel and restaurant He is working with Cathy tomorrow to verify and ascertain correct numbers and we should have a plan for the above on Monday EFTA00690589  DAVID MITCHELL Mitchell Holdings LLC 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 [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00690590