<table><tr><th>From:</th><th>Gianni Serazzi</th></tr><tr><td>Sent:</td><td>Thursday, April 26, 2018 2:58 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>Re: Call</td></tr></table>

All options in Eur

Option l<=r). Financing of newco (Milano) 80K equity 40=K debt Ownership of 40% of newco We will provide offic=s, accounting, directorship etc. all at cost This company hires =ead of IMG, good models will follow Payback of 400K debt within =4 months, first money out

## Option 2=C2

Financing of 2 newcos (Paris and Milano) 160K Eq=ity 1M debt ownership of 50% of newco Big na=es hires in Miano and Paris Will work for free until the 1M is p=id back (24 months)

Option 3 Financing =f 9M of a new holding 8M Debt 1M Equity Stag=d in 3 years Italian company merged day 1(400K ebitda) Ownership 50-50 and will work for free until all debt is repaid (- 4 years=

Thx

G

On Thu, Apr 26, 2018 at 4:00 P=, Gianni Serazzi ██████████████████████████ wrote:

On Thu, Apr 26, 2018, 3:36 PM jeffrey E. <jeevacation@gmail.com <mailto:jeevacati=n@gmail.com> > wrote:

sure . numbe=?

O= Thu, Apr 26, 2018 at 2:48 AM, Gianni Serazzi <█████████████████████████████> wrote:

## Ciao Jeff,

I thought about what you mentioned =he other day. Do you have 5 minutes to talk?

## Ciao Jeff, (cont.)

</=iv>

Thx

G

plea=e note

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