<table><tr><th>From:</th><th>Adam Bly</th></tr><tr><td>Sent:</td><td>Thursday, July 26, 2012 6:55 PM</td></tr><tr><td>To:</td><td>Jeffrey</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

The company has achieved year over year revenue growth, and is now cash flow=positive, EBITDA positive and profitable through 6/30 but is not adequately=capitalized to manage cash flow when receivables are late. Your interest pa=ments are in the budget and Seed can afford the interest but like many othe= payables, including my own salary, there are frequent interruptions result=ng from a momentary cash shortfall. This is a primary topic of discussion a= our board meeting next week and is a matter that only the board can solve.=All I can do personally is continue to generate more cash and grow the comp=ny.

Sent from my iPhone

On Jul 26, 2012, at 2:12 PM, "Jeffrey" <jeevacation@gmail.com> wrote:

Yes , you are behind again . Not fair

Sorry for all the typos .Sent from my iPhone

On Jul 26, 2012, at 1:59 PM, "Adam Sly" wrote:

>

> Can call you when i land, around 9pm your time, is that good?

>

> Sent from my iPhone

>

> On Jul 26, 2012, at 1:55 PM, "Jeffrey" <jeevacation@gmail.com> wrote:

>

> Time?

>

> Sorry for all the typos .Sent from my iPhone

>

On Jul 26, 2012, at 1:13 PM, "Adam Bly" <blackened out> wrote:
>
>>

>> Just back from London and at airport now heading to SF. When did you want=to speak?
>>
>> Sent from my iPhone

>

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