From: Jeanne Brennan <█████████████████████████>
Sent: Friday, April 4, 2014 9:51 PM
To: jeevacation@gmail.com
Subject: Projection numbers

Jeffrey,

We spoke with Erika today and discussed the FSG projections. Currently we have projected $8.4 m of gross income with a net income before employee cost and government fees of $6.7m. Which would require 9 employees based on the 1 additional employee for every $1,000,000 of net income. Her thoughts were to be conservative on the income projections. Currently the largest revenue line item is consulting at $5M. Erika will discuss later waiver possibilities on employee numbers.

Cecile has the position to be 5 : President , VP Equity, VP derivatives, VP financial accounting, administrative assistant.

Should I adjust the projected revenues down - using line item of consulting income from 5 million to 1 million - to project a net income that would require 5 employees.?

Jeanne

Jeanne Brennan Wiebracht, CPA

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