<table><tr><th>From:</th><th>lawrence delson &lt;</th></tr><tr><td>Sent:</td><td>Monday, August 25, 2014 3:10 PM</td></tr><tr><td>To:</td><td>jeevacation@gmail.com</td></tr></table>

Jeffrey

Projects

Avioneta= Bjav, TRA, State filings that need to be discussed.

I assume=no amended

Concerning Avioneta, it was operated under=91 in 2013. Thus, any employee expenses would be subject to both 2% and 3%=as well as AMT, so we do not believe any tax benefit. Beginning in March o= April of 2014, was operating under 135 so possible benefit. In addition, =ulie is working on setting up Avioneta on Quickbooks

B. Narrows/Art Partnership (re) organization - Ada

C. Family office organi=ation - Eileen and I Concerning that, s=me issues - Aneta spends approximately 75% of her time on Quickbooks entry=bookkeeping work and 25% on "admin" which includes a weekly Thursday run t= Apollo and other trips there when needed. She should not be doing this - =t is a distraction. The other admin person can do this (or use Apollo's messengers?) Also, there is a continuing issue with =ccess to information stored on the network. I will address it again next w=ek when Ada returns but I may need your advise/assistance as referee =div id="yiv1303372256yui_3_16_0_8_1408971050028_4" style="color: rgb(0= 0, 0); font-size: 13px; font-family: verdana, helvetica, sans-serif; font=style: normal; background-color: transparent;" class="yiv1303372256yui_3=16_0_1_1408971050028_29420 yiv1303372256yui_3_16_0_1_1408971050028_31150 y=v1303372256yui_3_16_0_1_1408971050028_62517 yiv1303372256yui_3_16_0_1_1408971050028_71653">

D. Project/constructio= manager • LDB house purchase - this is something that Eileen will b= involved in. Also, and not immediate, but there will be need to construct=basis on apartment sale.

E. I spoke with Barry =ohen earlier - In particular what he is waiting for is a structure chart and=art inventory. In addition, he had suggested to Eileen meetings among t=ustees etc on a regular basis (monthly or more frequently). Eileen told hi= she will initiate these. I will follow up with Rich 1 on the first two=/div>

F. Art inventory - still some question of what =s in the trust - this relates to Barry Cohen's request. Joint project between accounting and =egal/art.

G. Set up new LLCs for recent reside=ce purchases - Rich D

H. Review of transfer letters/docs for LDS 2011 LIC - Jule

Larry Del=on
Delson International, Inc.

New York, NY 10163

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