<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Friday, July 17, 2015 4:59 PM</td></tr><tr><td>To:</td><td>Brad Wechsler</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

sorry of course. i understoo that they had alr=ady been done, and phaidon needed oneh while regain was ahead, =i was looking for the backup, if there is none no proble= not urgent

On Fri, Jul 17, 2015 at 10:25 AM, Brad Wechsler <██████████████████████████████ <mailto:██████████████████████████████> > wrote:

Hi jeffrey-a couple of things:

1. Right now I have rich working very hard on wrapping up all the jmwt fili=gs (statutory and tax) with bdo and phaidon. In essence we are filing 2013=taxes for the 4 jmwt entities (never filed); 2014 tax filings and 2014 sta=utory filings which were the catalysts for the notices we received last week. I believe everything is under contr=l and we will be filing early next week...we have until 8/6. (The only dif=erence between the 2013 and 2014 stat filings will be the corrected charac=erization of the 3.2mm flowing down the jmwt stack to purchase the preferred which ties better to underly=ng support. Obviously, all outside professionals have signed off on this.)=br> 2. Rich is also working very hard on pulling together the first working dra=t of the Trust book for our 8/11meeting.

3. All this is to say that we'll get you real vs budget on all three pu= cos (RA, Artspace and Phaidon) as soon as we can....probably early next w=ek.

4. Best irony of #1 and #2 above is that the interest expense on the jmwt i=tercompany loans is currently viewed as nondeductible for both book/statut=ry and tax purposes.

Rich can give you more detail if you want it. Speak soon, b

From: jeffrey E. [mailto:jeevacation@gmail.com <mailto:jeevacation@g=ail.com> j Sent: Friday, July 17, 2015 09:58 AM To: Richard Joslin < <mailto »; Brad Wechsler Subject:

can you send me actuals vs projectiosn for publishing =AO, phaidon regan artspace? thanks

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