<table><tr><th>From:</th><th>Joichi Ito</th></tr><tr><td>Sent:</td><td>Wednesday, July 9, 2014 9:51 PM</td></tr><tr><td>To:</td><td>Jeffrey Epstein</td></tr><tr><td>Subject:</td><td>Re: Things</td></tr></table>

OK

On Jul 10, 2014, at 06:49 , jeffrey E. <jeevacation@gmail.com> wrote:

> use of funds, most importnat

>

On Wed, Jul 9, 2014 at 5:48 PM, Joichi Ito  wrote:
I'll try to get his financial model.
On Jul 10, 2014, at 06:47 , jeffrey E. <jeevacation@gmail.com> wrote:
doesn't say what roylaty rate applys before 65k units
On Wed, Jul 9, 2014 at 5:46 PM, Joichi Ito <> wrote:

> OK. Why don't I dig in a bit more. I have some concerns about the =njection molding manufacturing. I'm going to Shenzhen for 4 days to =ook at factories and meet people. I'm also concerned about the ramp up =f the team. If I kick the tires and it looks good, I'll let you know =nd maybe we should do more. Thanks.

>>

>> - Joi

>>

> On Jul 10, 2014, at 06:44 , jeffrey E. <jeevacation@gmail.com> =rote:

>>

> > I like the space , we can do more if you want

>>>

>>>

> > > On Wed, Jul 9, 2014 at 5:41 PM, Joichi Ito wrote:

> » I'll be meeting with David soon to follow up.

>> >

> > Begin forwarded message:

>> >

>>> From: David Smith <d

>>> Subject: Re: Things

> > » Date: July 8, 2014 at 05:39:56 +0900

>>> To: Joichi Ito

>>>

>>> Hi Joi,

>>>

> > » Lots happening. We should talk soon.

> > » • I have the license from Lockheed (finally). 31 patents and =atent pending. Pretty good deal but not cheap. $0.5M in 30 days. $1.5M =n 200 days. Royalty rate is good - drops to 2% after 65k units.

> > » - A NC investor group is interested in $5M. We told them $25M =re. They pushed back and had us meet with Blake Krikorian who knows =ou. He loved the product and positioning so I think we can hold our =ine on valuation. Blake also asked for a convertible note like yours. =hould know about the NC group soon.

>>> » - Intel is looking at $1.5M convertible note.

> > » - Met with Google and they said they were interested in an =cquisition. No idea what valuation they are going to consider. Any =deas?

> > » - Working with Flextronics on manufacturing. Very interesting =roup. No problem in scaling.

> > » - Apple is interested in selling the device in their stores with =n exclusive for the new iPad mini. October is a very big date with =hem.

> > » - Amazon is also interested and wants us to go to Seattle to meet =heir management.

>> >> That said, we need to raise money quickly so I need to expand my =earch. Help here would be very valuable.
>> >> Best regards,
>> >> David

>>>

> > > please note > » The information contained in this communication is confidential, > » may be attorney-client privileged, may constitute inside > » information, and is intended only for the use of the addressee. It > » is the property of JEE Unauthorized use, disclosure or copying of > » this communication or any part thereof is strictly prohibited and > > may be unlawful. If you have received this communication in error, > > please notify us immediately by return e-mail or by e-mail to > > jeevacation@gmail.com, and destroy this communication and all > > copies thereof, including all attachments. copyright -all rights > > reserved

>>

>> --
>> Please use joi@rakoku.com for venture related email
>>
>>
>>
>>
>> --
>>     please note
>> The information contained in this communication is confidential, may
>> be attorney-client privileged, may constitute inside information,
>> and is intended only for the use of the addressee. It is the
>> property of JEE Unauthorized use, disclosure or copying of this
>> communication or any part thereof is strictly prohibited and may be
>> unlawful. If you have received this communication in error, please
>> notify us immediately by return e-mail or by e-mail to
>> jeevacation@gmail.com, and destroy this communication and all copies
>> thereof, including all attachments. copyright -all rights reserved

Key information:

*   Use the provided email address for venture-related emails.
*   The communication is confidential, attorney-client privileged, and intended for the addressee only.
*   Unauthorized use is prohibited.
*   If received in error, notify jeevacation@gmail.com and destroy all copies.
*   Copyright reserved.

Please use for venture related email

<?xml version=.0" encoding=TF-8"?>

<!DOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/PropertyList-1.0.dtd">

<plist version=".0">

<dict>

<key>conversation-id</key>
<integer>296244</integer>
<key>date-last-viewed</key>
<integer>0</integer>
<key>date-received</key>
<integer>1404942650</integer>
<key>flags</key>
<integer>8590195713</integer>
<key>gmail-label-ids</key>
<array>
<integer>6</integer>
<integer>2</integer>
</array>
<key>remote-id</key>
<string>422657</string>

</dict>

</plist>