To: Jeffrey Epstein[jeevacation@gmail.com]
From: 
Sent: Tue 3/16/2010 11:48:19 AM
Subject: Fw: Contact

The CEO of Fashion TV aims to supply us information/numbers next week, as stated below.

Original Message
From: Yaron Jakubowicz
To: David Stern
Subject: Re: Contact
Sent: 16 Mar 2010 11:21

Dear David,

Maybe we should speak again on the phone. I hope that by next week I can provide you more info. It is suffering from Austrian efficiency...

You will get all info required for constructive review once it is available.

Best,

Y.

On 3/15/10 9:37 PM, "David Stern" wrote:

> Dear Yaron,

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• > We have some difficulties really moving forward with the numbers and the > suggested valuation. > Since some time has passed, would you be able to send me the full financial > accounts / offering memorandum for the listing? > We remain interested but need this information for a constructive review and > dialogue. • > Many thanks and regards > David • > On 8 Mar 2010, at 12:13, Yaron Jakubowicz wrote: >> Dear David, >> While we are still preparing the final accounts for 2009 - I can give you >> the following information without liability and subject to confidentiality: >> We are expecting a turnover of about 10 Mil EUR. , 2009 will be a break even >> year. While we boasted profit margins of close to 50% in the past, the year >> 2009 was affected by costs of a major law suit (which has by now settled), >> additional expenses for the listing and investment into HD technology. Thus >> only a break even. The channel has no debt. Would we eliminate those » extraordinary expenses, the channel would have preformed consistently to the >> past. In order to drive the business further and resume the past history of >> about 30% p.a. growth, I would like to see over a 3 year period 30 Mil Eur » in new capital. >> But I think a full purchase of the business could be also a quite » interesting concept, that we may want to discuss on the phone.

>>

>>

>> Basically FTV could be a money printer - given the sufficient amount of
>> paper to print on....
>>
>> Currently however it is a play on goodwill. There is an independent
>> certified brand valuation that confirms the brand of FTV has a value of
>> 245Mil EUR. Which can give you an indication of where the listing is
>> targeted towards.
>>
>> Does this help?
>>
>> All the best,
>>
>> Yaron
>>
>>
>>
>>
>> On 3/3/10 5:19 PM, "David Stern" <redacted> wrote:
>>
>>> Dear Yaron,
>>>
>>> Great pleasure talking to you!
>>>
>>> As discussed, what would be helpful is to receive core data at your earliest
>>> convenience.
>>> This may include current financials in as much detailed as possible (sales,
>>> ebit, debt, etc), last years's financial accounts, amount of new capital
>>> requirement etc
>>>
>>> I look forward to receiving this and of course to meet with you soon!
>>> All the best
>>> David
>>>
>>>
>>>
>>>
>>> On 3 Mar 2010, at 14:04, Yaron Jakubowicz wrote:
>>>
>>>> Dear David,
>>>>>
>>>>> I just tried to call you. Please call me back on +436648517870
>>>>>
>>>>> All the

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