EFTA02716550.pdf

From: Richard Joslin Sent: Tuesday, October 28, 2014 4:14 PM To: jeffrey E. Subject: FW: fyi Attachments: Artspace - Cash Flow 102414.pdf From: Eileen Alexanderson Sent: Friday, October 24, 2014 3:03 PM To: Richard Joslin Subject: fyi From: John Murphy [mailto Sent: Friday, October 24, 2014 1:53 PM To: Eileen Alexanderson Subject: Cash Flow - Artspace Hi Eileen, Please find attached the latest cash flow for Artspa=e. I have made some changes after my meeting with Catherine this week. The provisional cash flow from 10/10 had cas= requirements of $3M ($0.275M in 2014 and $2.725M in 2015) • This model shows cash flow needs of 53.25M. =$0.3M in 2014 and $2.925M in 2015) The increase of $250k is made up by the foll=wing adjustments o Opening bank balance adjusted down by $90k. =Marketplace transferred $100k into the LLC account in September to cover t=e severance payment of $90k for Chris Vroom) EFTA_R1_02155121 EFTA02716550 o The original cash flow model included only 5=% of Andrew Goldstein's salary as Catherine assumed 50% ($90k plus f=inge) would be transferred to Phaidon. I have adjusted this back to charge=Artspace the full salary of $180k as payroll and associated payment will run through Artspace On a separate note I will be working over the next c=uple of weeks to provide a consolidated cash flow for the next 24 mo=ths for Phaidon, Artspace and Regan Arts as requested by Leon at yesterday=88217;s board meeting. If you have any questions on this cash flow please d= not hesitate to reach out to me at 609 331 1305. Have a great weekend. Regards, John. John Murphy</=:p> COO/CFO=/span> 2 EFTA_R1_02155122 EFTA02716551 3 EFTA_R1_02155123 EFTA02716552