<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Monday, April 16, 2018 10:28 PM</td></tr><tr><td>To:</td><td>Greg Wyler</td></tr><tr><td>Subject:</td><td>Re: No subject</td></tr></table>

not sure why you think 150 m valuation is close to r=ght. do i read that you are getting 45 m shares for 2 millin d=llars?

=n Mon, Apr 16, 2018 at 6:26 PM, Greg wr=te:

As=uming all the debt converts (unknown) then you are in at a 151m valuation =13,000,000 for 8.6% of the company)

If the debt d=es not concert then the 13m will buy closet to 10%, but I suspect some wil= convert. Waiting on answers from debt holders.

D=bt will be pari passu with series 2 preferred (you) so not much advantage =o being debt and they then convert at next round with higher valuation.

I certainly hope we sell it for more than lbn. I wou=d guess 2-3bn is reasonable, but that will be a decision we make when the =ime comes.

On Apr 16, 2018, at 6:31 AM, jeffr=y E. <jeevac=tion@gmail.com <mailto:jeevacation@gmail.com> wrote:

=div dir="ltr">the cap table seems to say if the co reaches 1billion val=ation , my investment is a 4x . ?

=br>--

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