<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Sunday, January 10, 2016 11:43 PM</td></tr><tr><td>To:</td><td>george church</td></tr><tr><td>Subject:</td><td>Re: Geoff MacKay</td></tr></table>

yes, 1 is geoff full time? 2, =AO makes little sense to put the highest risk, money the first 5 , w=th the only benefit to get a 20% discount on next round. .in his exi= chart, non person or fund would put in 20 with a valutation of 50=C2 and pay 11of the 20 to old investors also if i was inv=storin next round. i could negotiate as discount that point.=C2 .

On Sun, Jan 10, 2016 at 7:36 PM, george church &l wrote:

<=iv>Anything in particular that you'd like me to clarify with Geoff or =ou? --george

From: "Jeffrey E." <=jeevacation@gma=l.com <mailto:jeevacation@gmail.com» Date: Saturday, =anuary 9, 2016 at 5:19 PM To: =eorge church

jeff mckays =AO answers i can not understand

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