<table><tr><th>From:</th><th>Richard Joslin</th></tr><tr><td>Sent:</td><td>Monday, April 6, 2015 1:42 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>RE: BLACK tax projections</td></tr></table>

Gift tax and use tax are separate from income tax. Gift tax - $3,215,000. Use tax -56,445,000

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Sunday, April 05, 2015 8:09 PM
To: Richard Joslin
Subject: Re: BLACK tax projections

where are the use tax numbers?

On Sun, Apr 5, 2015 at 5:25 PM, Richard Joslin > wrote:

The files attached were sent to Alan D. and to Tom T. Tom T. signed off on the projection. His comments pertain to how much to pay April 15 to ensure valid extension and not overpay Q12015 estimated tax (paid with extension payment).

Alternative Minimum Tax both years so I did not put in real estate tax or 2013 state income tax deductions. Foreign tax credit not considered (additional cushion — Apollo did not provide)

Excel file has summary and detail, eg taxes paid, charity, outside K-1s – not formatted for printing.

Adobe file has BNA software projection FY 2014 and 2015)

Adobe file has Apollo 2014 tax items and projected 2015 tax items (prepared by Apollo)

Please call to discuss on Monday — I can walk you thru.

Richard Joslin

CFO

Elysium Management LLC

445 Park Ave

Ste. 1401

New York, NY 10022

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