EFTA00591070.pdf

CASH FLOW ASSUMPTIONS JULY 7 2015 R JOSLIN BFP APOLLO DISTRIBUTIONS BASED ON JUNE ESTIMATES FROM APOLLO FINANCE AUG $0.40 NOV $0.33 FEB'16 $0.58 PLANE 70 HOURS OF REIMBURSEMENT/ CHARTER FROM APOLLO BOAT CHARTERS IN SUMMER AND DECEMBER TO MOSTLY DEFRAY OPERATING COSTS FROM JULY TO DEC TAXES INCOME TAXES BASED ON JUNE APOLLO TAX ESTIMATES MIAMI ASSUME $500K OF FURNISHINGS JUL - DEC ART LOAN GAGOSIAN OCT INSTALLMENT FUNDED BY BALANCE OF ART LOAN AVAILABLE LEGAL PLACEHOLDER OF $750K FOR 2014 PW LEGAL ART PRINTS ACQUISITION OF $35 MILLION NOT REFLECTED BFP KNOWLEDGE UNIVERSE SALE OF PROPCO IN DEC 2015 $7 MILLION BFP KNOWLEDGE UNIVERSE - RELEASE OF LEGAL FEE ESCROW $1.8 MILLION DEC 2015 BFP REPAYMENT OF PHAIDON GLOBAL LOANS BY DEC 2015 - $10.55 MILLION FAMILY OFFICE (BFP) NEW LABOR COSTS ARE GUESSTIMATE COST SHARING TRUST COST SHARE OF FAMILY OFFICE NOT REFLECTED APO 1 APO 1 TO REPLAY BFP FOR PHAIDON BORROWING APO 1 APO 1 TO FUND DISTRIBUTION TO BEN OF $3.2 MILLION APO 2 ASSUME NO FURTHER FUNDING OF SH MEADOW APO 2 FUNDS FUTURE PUBLISHING COSTS EFTA00591070 SUMMARY OF CASH FLOW - BLACK FAMILY ACTUAL JAN+MAY AND PROJECTED JUN - DEC APO 1 FY 2015 LOB BFP LP LDS 2011 U.0 APO 2 LDS 201411C GRATS TOTAL HP12$ 2013 NARROWS LBF HOLDINGS INFLOWS DISTRIBUTION FROM BFP LP (INCE APO) 2&574,199 (254,676) 25,747,696 14,707,208 139,135,273 204,909,700 NET DISTRIBUTION FROM GRATS 153,308,781 - (153,308,781) INFLOWS - INVESTMENTS TIMBER 15,533,493 15,533,493 101 WARREN ST 4,061,810 4,061,810 AZ PROPERTY 1,410,497 1,410,497 K-12 INC 1,524,867 1,524,867 LOAN CASCADE - PARTIAL WITHDRAWL 10,000,000 10,000,000 KNOWLEDGE UNIVERSE - UQUIDATION 12,733,826 12,733,826 REDEMPTION - APOLLO VIF 5,801,604 5,801,604 DISTRIB - APOLLO CO-INVESTORS VI 3,846,838 3,846,838 DISTRIB - 107 PORTFOLIO 1,088,560 1,088,560 DISTRIB - ECI I 1,760,525 1,760,525 DIVIDENDS/ INTEREST 633,473 622,633 7,0)7 1,263,183 INFLOWS - OTHER ART LOAN 96,000,000 96,000,000 MISC 7,906.205 2,318,540 1.138,503 503,199 - 11,866,446 TOTAL INFLOWS 285,288,242 52,137,965 3,521,661 30,312,706 14,714,285 (14,173,508) 371,801,350 OUTFLOWS - INVESTMENT CAPITAL CALL - ECI II (5,898,532) (5,898,532) CAPITAL CALL - COF CO-INVEST III (5,015,073) (5,015,073) CAPITAL CALL - AlH ENE (41,600,000) (41,600,000) CAPITAL CALL -CURATION MEDIA (1,300,000) - (1,300,000) INVESTMENT - ARCADIA BEACON II - (5,000,000) (5,000,000) ARTSPACE - (2,481,556) (2,481,556) PHAIDON PRESS - (1,700,000) (340,000) (2,040,000) REGAN ARTS - (4,650,000) (2,150,000) (6,800,000) MISC (366,566) (612,866) (979,432) OUTFLOWS - PERSONAL PERSONAL - LEISURE ET AL (6,041,341) (6,041,341) RESIDENTIALTLABOR (5,212,966) (5,212,966) MS DISBURSEMENTS (3,709,524) - - (3,709,524) ART & COLLECTIBLES (124,639,453) (3,223,286) (3,157) (127,865,896) TOWNHOUSE -CONSTRUCTION (1,896,653) (4,415,347) (6,312,000) SH MEADOW - CONSTRUCTION & EXP (5,760,000) (5,760,000) MIAMI PROPERTY - (8,750,000) (8,750,000) BOAT (2,205,787) (2,20S,787) PLANE (4,852,003) (4,852,003) FAMILY OFFICE (5,915,000) (5,915,000) BOFA - ART LOAN INTEREST (7,476,359) (7,476,359) ART EXPENSE - CONSULTANTS/ INSURANCE (2,457,520) (268,172) (206,000) (2,931,692) LEGAL & ACCOUNTING (2,090,591) (20,030) (38,938) (33,070) (41,784) (2,224,383) CHARITY (22,574,804) (22,574,1304) IRS-2014 (27,758,151) (27,758,151) IRS-2015 (13,211,849) (13,211,849) NYS/ CA/ IA TAX-2014 (20,363,201) (20,363,201) NYS/ CA/ IA TAX-2015 (8,481,799) (8,481,799) USE TAX (2,964,878) - (3,930,023) (244,063) (7,138,964) ADVISORY/ TRUSTEE FEE - MISC (3,364,800) (1,592) (59,119) - (3,425,511) TOTAL OUTFLOWS (259,301,679) (60,116,762) (18,838,633) (20,026,965) (5,041,784) (363,325,823) NET IN (OUT) BEFORE INTRA-FAMILY 25,986,563 (7,978,798) (15,316,972) 10,28S,740 9,672,501 (14,173,508) 8,475,527 INTRA FAMILY LOANS - DRS/ PUBLISHING 1,450,000 (1,000,000) (451,000) (1,000) INTRA FAMILY LOANS - BFP/ PHAIDON GLOBAL 16,549,733 (16,549,733) INTRA-FAMILY TRANSFERS - AP NARROWS CLASS B 2,000,000 (2,00.000) INTRA-FAMILY TRANSFERS - TRUST DISTRIB - DRS 10,000,000 (10,000,000) INTRA-FAMILY TRANSFERS - INT ON DEBT (27,325,266) 55,900 25,776,658 (17,802) (1,510,510) INTRA-FAMILY TRANSFERS - REIMS (3,233,550) 3,233,550 CORP DISTRIB - DAB PROD 560,000 - - 560,000 TRUST DISTRIB - BEN/ JOSH/ ALEX/ VICTORIA - (3,200,000) (114,000) (3,314,000) TOTAL INTRA-FAMILY (16,548,816) 16,605,633 6,260,475 (10,582,802) (4,26S,510) NET IN (OUT) 9,437,747 8,626,836 (9,056,497) (297,062) 9,672,501 (14,173,508) 4,210,017 CASH BALANCE - OPEN 30,188,407 18,117,257 31,034,116 13,545,853 9,783,100 14,352,720 117,021,452 CASH BALANCE -END 39.626,154 26,745,227 21,977,583 13,248,792 19,455,601 179,212 121,232,569 EFTA00591071 SUMMARY OF CASH FLOW • BLACK FAMILY AcTuAL 44N4uN AND FRa.P.PuL • DE4 FY2015 JUN 25 2015 INFLOWS FY2016 JAN FY2015 FEB FY2015 MAR FY2015 APRIL FY 2015 MAY FY2015 JUN FY2016 ALLY FY2015 AUG FY 2015 SEP FY 2015 OCT FY 2015 NOV FY 2015 DEC TOTAL DISTRIBUTION FROM BFP LP (INCI. APO) 79,745.381 26.873.579 30.599.965 37.090.866 30.599.965 204.909.735 INFLOWS • INVESTMENTS TOMER 15.891.938 061.446) 15.513.493 101 WARREN ST 4.081.810 4.061.810 AZ PROPERTY 1.410.497 - 1.410.497 K-12 INC 557.830 967.237 1.524.867 LOAN CASCADE- PARTIAL WITHDRAWL 10.000.000 10.000.000 DISTRIB4LP) - WCISENSOHN 481091 - 480.091 KNOWLEDGE UNIVERSE- LIQUIDATION 3.933.826 8.800.000 12.713.828 REDEMPTION - APOLLO VIF • 5101.804 5.801.604 DISTRIB 4LP) - 107 PORTFOLIO LP 468.198 620.362 1,088.560 DIS1RIB - APOLLO COAIVESTORS VI 2.134.681 1.712.177 1848.838 DISTRIB - FCI I 402.631 357.494 1.000.000 1.760.525 DIVIDENDS, INTEREST 270,172 1.288 1.504 423.181 34.894 363 288.287 265.518 1,263.183 INFLOWS • OTHER ART LOAN 9.000.000 5.000,000 - - 23.000.000 34.500.000 • 24.500.000 96.000.000 MISC 345.849 453.900 1.713.501 811.169 436.882 732.994 395.541 6.632.360 4,865 50.185 4,665 4,665 11,388.355 TOTAL INFLOWS 41584,096 85.039.101 2.693.261 30322660 84.384.801 36,946,654 1.829.045 43.723.226 4.665 24.816,681 30.604.830 9.804.865 171.801.185 OUTFLOWS • INVESTMENT CAPITAL CALL - Fa II (192.874) 41.528.9194 - (1285.828) (842.913) 41.125.000) (1.125.0001 (1898.532) CAPITAL CALL- COF CO-INVEST III (284.874) (59237) (598.721) (909.823) (682.418) oc.3.ciaq (500,003) (500.000) (500.000) 4500.000) (5115.073) CAPITAL CALL- ATIENE - 441.800.000) - 441,600.000) CAPITAL CALL -CURATION MEDIA - (650.000) - (325.000) (325.000) (1,300.000) INVESTMENT - ARCADIA BEACON II (2.010.000) 42.000.04:01 4990.003) (5100.000) ARTSPACE 4350.003) (900.000) (6.558) (975,000) aso.oaq (2.481.556) PHAIDON PRESS (1.700.000) pgamath (2040100) REGAN ARTS (1.750.000) (2.900.000) (2.150.000) (6.800.000) MISC (438.711) (132.171) (160.550) (250.000) (979.432) OUTFLOWS • PERSONAL PERSONAL - LEISURE ET AL (538.293) (725.549) 4487.979) (440.520) (797.000) (4841000) (408.030) (406.000) (481.000) (408.000) (408.000) (411 000) (6.041.341) RESIDENTIAL. LABOR (222.081) (465.8121 4372.471) (582.848) (364.604) (726.523) (446.438) (446.43M (398.438) (398.438) (396.438) (396.418) (5.212.986) MS DISBURSEMENTS 4907.155) (1.002.369) (900.0401 (900.000) (3.709.524) ART 8 COLLECTIBLES (11.311.881) 47.257.8CM (1.012515) (5.815.385) (23247.584) (43,970.822) (6.503.000) - (28750.000) (127.885.898) TOWNHOUSE • CONSTRUCTION (1.000.000) (1.625.030) 42.750.0001 (937.000) (6,312.000) SH MEADOW- CONSTRUCTION B EXP (700.000) - (2.500.000) - (2.503.000) - - (80.000) (5.760.000) MIAMI PROPERTY - - (250.000) - - (250.000) - (8.250.003) (84750.000) BOAT (105.787) (105.000) 4450.000) (105.000) (405.030) (105.000) (155.000) (155.000) (155,0001 (155.000) (155.030) (155.000) (2.205.787) PLANE (258.340) 4911255) (420.144) (524.331) (171.934) (428.000) (429.000) (428.000) (428.000) (428.030) 44211000) (4.852.003) FAMILY OFFICE (270.000) (531.000) 4411003) (511.000) (446.030) (548.000) (449.030) (540.000) (WACO) (557.000) (557.030) (5570 00) (5.915.000) SOFA- ART LOAN INTEREST - (1.701,064) (1.797.291) - 41.962,938) (2015.047) 47.478.359) ART EXPENSE- CONSULTANTS' INSURANCE (176.429) (225.016) (45.9438) (244.821) (129.102) (875.810) (197.509) (101.383) (447113) (186.883) (101.383) (101.381) (2.911.892) LEGAL B ACCOUNTING - (472.092) 4447.821) (48.341) (53.672) (2.658) (900.000) - (150,000) 4150.000) (2.224.311) CHARITY 415.000) (25.000) 4497.250) (638.500) (2250.000) (199.054) 00.030) 410.000) 44.010.000) 410.000) 410.010.000) (4.910,000) (22174.804) IRS-2014 (21.000.000) (6.758.151) (27.758.1511 IRS-2015 - • (4.061.849) - (4.503.000) - (4.650.040) • (11.211.849) NYS/ CAI LA TAX-2014 (15.470.000) - (4.893201) - (201832011 NYS/ CM IA TAX-2015 (2.806.799) - (2.803.000) 43.075.0001 (8.481.799) USE TAX (17581 - - (8090.330) - (1.039.878) - - (7.118.984) ADVMORY/ TRUSTEE FEE - . . . - MISC (245.472) (239.7591 (704.738) 1271609) (139.3321 (940.1441 1408.2861 (135.7721 (2822041 426.7821 (28.7821 (28.7821 (3.425.641) TOTAL OUTFLOWS (80.977.960) (11.830.095) (12.598.891) (78189.187) 438.418.158) (63.521,018) (7.236,631) (11.622193) (23.812.981) 02266.103) (11705.603) (20.887.860) (363.325.951) NET IN (OUT) BEFORE INTRA-FAMILY (9.323.855) 73.209.006 01001 330/ 14723461 27/ 27141253 (211 676.464) oases) 32.100,613 (2umas) (7440,422) 18.899.027 (91.0629655) 8.475.432 LY LOANS - DRBI PUBLISHING • - (1.000,000) 999.000 - (1.000) CORP DUSTIN - ORB PROD 560.000 - - - - - 560.000 TRUST DISTRIB • BEM JOSH (9500) (9.500) (9,500) (9.500) (9.500) (9.500) (3209.500) (9.500) (9.500) (9.500) (9.500) (8.508) (3.314.000) LY TRANSFERS • INT ON DEBT (1.510.5101 (1.510.610) lARAMILY 551500 (92500) (7.009.217) 6,989,233 (9,600) (1,520,010) (3,209,600) (1500) (1500) PAW) PAW (9.500) (4265.610) NET IN (OUT) (6373.351) 711992505 (17,014343) (40,857294) 27.936,743 (28,096,473) (8.816.086) 32,001133 (21,237,798) (7,441922) 16,889127 (11,062.488) 4.209.922 END OF MONTH CASH 117.021.452 106248.088 181,447,594 184,431.011 123,575.737 151.512,480 123517506 114.600,920 146,692,053 122,884,255 111404,333 132261188 121,231375 EXCLUDES DESCENDANT'S TRUSTS EFTA00591072 LEON & DEBRA BLACK PROJECTED CASH FLOW FY2015 FY2015 FY 2015 FY2015 FY2015 FY2015 FY2015 FY 2015 FY2015 FY2015 FY2015 FY2015 FY2015 FY2015 ACTUAL IAN- JUN; PROJECTED JUL- OK 2015 WI 1.15 JAN 16 - 31 APRIL 1-15 APRIL 16-30 TOTAL PREPARED BY R JOSLIN MN JAN FEB MAR APRIL APRIL MAY JUN JULY AUG SEP OCT NOV DEC NET INFLOW JUN 262015 PAYMENT DATE: BFP/ GRAT 1/9/2015 1/24/2015 2/27/2015 3/3/2015 4/15/2015 4/24/205 5/7/2015 6/3/2015 7/24/2015 8/28/2015 9/3/2015 10/24/2015 11/28/2015 12/3/2015 INFLOWS BFP LP OISTRIB 2,C00„428 : 7,491,334 2,15;345 4,427,339 5,540.562: : 3,964,190: - 25,574,199 GRAT ANNUITY . 20,200,000 . 38,610,000 . . 15,C00,000 . 30,991,000 3,681,000 . . 22,369,000 . 1,651,781 . . 20,566,000 153,308,781 LOAN PROCEEDS - BOFA - ART : 9.999,C00 5,000 WO : 23 OCO 030 : 34 500 OZO 24,5T,C00 : 96,000, OW .... LOAN PROCEEDS - LDS 2014U.0 (DUE 4/30/15) - 6 COO 000 - - 6 000 OZO OISTRIB (TRUST) - ORB - APO 2 - 10 COO - 10.000000 DISTRIB ICORPI - DRB - DRB PRODUCTIONS 560030 ' 56°)???. SALE - ARIZONA PROPERTY 1410497: 1410497 OISTRIB (LP) - 107 PORTFOLIO LP 468,198 - 620,362 1,0138,56D SALE - CLASS B INTEREST AP NARROWS LLC 2,000,000 : 2,000,000 SALE - URI PROFIT ON ND °room EXERCISE 3/2014 . 411,895 . 411,695 LOAN REPAYMENT -ARTSPACE - ORB 450,000 - 450,000 LOAN REPAYMENT- PHAJDON GLOBAL -ORB • 1,000,000= - 1,000000 OTHER REFUNDS/ RECEIPTS 4,416 . 37,243 . 6,107 . 9,706 . 1,324 . 84,605 . 34,821 . 102,065 4.665 . 4,665 . 4,665 . 4.665 . 4,665 . 4,665 . 306.296 TOTAL INFLOWS 19,033,042 30,647,741 5,418,002 4%731,402 1,451,324 17,234951 23,034,821 70,020,424 5,685,665 5.345227 22,393,665 26,356,446 3,968,855 20,590,665 298,112,229 OUT 10 WS MS TRANSFERS (90713551 : (1,002,369): : (900,000F : f91"qc9. 0 ,1.99.47.1) PERSONAL : (20,000) (518,293) (725,549) (487,979) 130,000) (410,520) (797,030) (466,000) (406,000) (406,000) (481,000) (406,000) (406,000) .... (481,000) (6,041,341) RESIDENTIAL + LABOR - - 222,081)- (465,812: (3724711- (582,848) (364,609- (726,523 544 64381: (446,438): (396,438): (396(470 (396,473)- P%5438):....555211,9661 INSURANCE/TAXES - PROPERTY (249,43* (354,464)' (42,7511- (207307) (100,274)= (416,644) 1365,949)' (108,990): (235.422): - - - - - : (1 881,232) TOWNHOUSE -CONSTRUCTION (295.5705- . 5480,301): (312818). .... FINE ART c8.85 .... (3,091,559)- (1a39,658 5214,423): - 56,122,631 - - - i19,1B6.4:3?) BRONZES - : - : - : - (5,562.353): 95,266: - : - : - : - : - : (5,4679371 JEWELRY PARE 800Y3 - : - : p8,491): - : : (342,850): - : - : - : - : (6364?4.14 FURNITURE ET AL . (248,3051. 315,556). (36,745). (163,313 - - (6763t__?1,) ART EXPENSE -CONSULTANT/INSURANCE - (176,429)- (142,664) (84,14B). (105,321): (93,978)- (843,348 (93,663). (93,883)- (93,8133)- (93,883)- (93,883)- (93,883)- (2,009,208) SOFA -ART LOAN - 5470MM • UBOR 1M+ 125- 5/2015 . 11 701 0134). ' (1,797,291 Ry?F'7t?,?' (7/9?:5A17.).- .... M 47.6t?Th BOAT: DEBT SERV - 517.2MM. LIBOR 1DAY+185- 12/2018 (105787): (105,080): 1100,000): (105,000): (105030): (105,088 (105,000): (105,000): (105,000): (105,000): (105,C00): (105 000): (1 ,255,787) BOAT- USE (NET OF CHARTER REVENUE)* 5350,0005: - 5300000): 150 000). (50,000,1- (30,000)- 50,C00)- (5 ,000 ......1950,PP°1 PLANE: DEBT SERV - 521.1MM: UBOR 1M+172:9/2016 (158,202)• 1156,0711. • (162,000) (158,030)- (156,003 (156,000). (156,000)- (158,000)- (158,C00)- (158,C00)- (156,003): (1,742,272) PLANE USE 1NET OF REIMBURSEMENT (96,139): (753,1641 : (738,144): (366,331): 13934 1270,003): (270,000): (270,000): (270,00): (270,000): 17ThRc9:. .... 0 ,.199t?Th TRANSFER TO NARROWS LLC : (5,630,000); ; (3,233,550): - - (23,0(7,030): (34,500,0W (28,750,0110): : (95,113,550) : APO 1 INTEREST : : 16,737,737): : . : (6,612,601 (6,887,4641: (6687sitt... URI/SIRI OPTION - PROFIT DISGORGEMENT TO APOLLO (196,343). (434,660 : (631,003) LOAN REPAY- LOB 2014LLC (DUE 4/30/151 - (6,000p00): f6 ".4c9 LEGAL & ACCOUNTING - CURRENT (447,621): (48,062)- (1,755 (150 000). - (150000)- (150,000): (947,438) LEGAL & ACCOUNTING - PRIOR YEAR (393,154)• 5750,000)' Pa:43.4:9.9 CHARITY (13,C00). (25,000). (487.2501. (108.500)- (530.000): (2.250,C00). (199,054 (10,000) (10,000)- (4,010,(00)- (10,003)- (10,010,100)- (4,910,000). (22,574,604) IRS - INCOME & GIFT - 2015 0,061,8491: : (4,500,0T Si•PTP.)????: : (13,211,050) IRS - INCOME & GIFT-2014 (21,030,000): - : (6,758,151): - - : - : - (27,758,151) NYS/CA/IA INCOME TAX - 2015 (2,606,799): (2,600,003 (6,481,7991 NYS/ CA/ IA INCOME TAX-2014 (15,070,0901: : (4,893„2011. - (20,363,201) USE ET AL TAX . (1 925,0001. (1,039,8781 . ‘2,964,FIR MISC OUTFLOW (2,554)- 1.8,655 - (43,417): (550,2731: (9,051)- (12455): (4,982): (87,797) (26,782); (26,782)- (26,782)- (26,782)- (25782)- (26,782)- (852,565) TOTAL OUTFLOWS (21,456,164) (27,616,439) (9,130,094) 114,301,094) (23,964,421) (14,150,370) (27,835,816) (62,190,997) (3,312,353) (1,675,093) (24,264,745) (30,266,103) (11,516,103) (16,751,578) (288,431,369) NET IN(OUT)FLOWS (2,473322) 3,031,301 (3,712,092) 32,430,308 (22,513,097) 3,084,582 (4,800,994) 7,829,427 2,373,312 3,870,133 (1,871,080) (3,909,658) (7,547,248) 3,839,067 9,660,859 CASH BALANCE 27,308,712 30,340,013 26,627,921 59,058,230 36.34%132 39,629,714 34,828,720 42,658,147 45,031,459 48,901.592 47,030.312 43,120,855 35,573,607 39,412,694 EFTA00591073 PERSONAL. RESIDENTIAL. OTHER LEON & DEBRA BLACK PROJECTED CASH FLOW FY2015 ACTUAL JAN - JUN; PROJECTED JUL- DEC 2015 JAN 1.15 PREPARED BY RJOSUN JAN FY 2015 MN 16 - 31 JAN FY 2015 FE8 FY2015 MAR FY2015 APRIL 1.15 APRIL FY 2015 APRIL 16-30 APRIL FY 2015 MAY FY 2015 FY2015 JUN JULY FY2015 AUG FY2015 SEP FY2015 OCT FY2015 NOV FY2015 TOTAL DEC NET INFLOW PERSONAL (20000) (518,293) (725,549) (487,979) (30 0001 (410,520) (797,000) (466000) (406,000) (406,000) (481,000) (406,000) (406.000) (481,000) (6,041,341) TPS-PERSONAL TPS-CREDIT CARD (53,083): 268,663); (134.395): (118,4B4)• (51,657): (67,040 • (90,559): p28,190)- (38,585): (42,887)- (100,0001: 1100,000): (150,000): (150 000). (100.000): (150,000)- (100,00): (100,00): (150,000)- 150,030); (100,000): (150,030)- Pwsim3): .... (3,136:8/._??) _ _ P6°P a g- MISC - MS DISBURSEMENTS pommy po,00co- (5°,0K)- (50,030); (50(100)- .... (500:0): ( 34°48P) PETTY CASH -LOB (55icc"): - : (25,000): (55,000): (80,030): 6°,9°P pox's): (sum): (50,000): (soiccp): (50'000): (0.9?):. ...... 0.6.5.49 DUES - GOLF ET AL (38,111): (18,874): (25,000): (25,00): (186/95P) KNICKS - EIFEL° (114,425)- (114,425) MELANIE TRUSTEE FEE (41.824(: (41,824) AMEX-LDB (23,314). (34,559): (38,458): (4071). (9,278): (25,90 (25 ,000): (25000). (25,000). (25,09): (25,000): ......( 2.84.139 LDB - APOLLO REIMBURSEMENT - (118,233)- (500[0 (50,00)- (50,00): (268.233) GIFT - RELATIVE (400 009. SUPPORT -CHILDREN (20,000): (1,500): (30,000): (30,000): (35,030): (31,0% (31,00): 431,000): (31,030): (31,003): (31,030): (31,00): (333,5[0) SUPPORT - CHILDREN - RENT 13.268 (13.461.. ) AIPAC - LOBBYING soncipy POUTICAL - 3840 9501909. (250,030), (2C(1,030): (250,880) - (45019Pf) soncipy POUTICAL - 6273 (2,500). (2,700). (2,700). (,900) MEMBERSHIP (10,000): (5,250): (36.44°) FITNESS (5,848 (5,848) RESIDENTIAL + LABOR P 7-20 81): (465,812): (374471): (582,848); (364,604): (726,523 ...... ..... A3PM?,?; -396437.86: (396,438): (3961438): (6,214 966) HOUSEHOLD LABOR (123,217): (140,592); (120,193); (1070 26): (141,701): (136,878 (141,667); (141,667): (141,667): (141,6671: (141,667): (141,667): (1,720,210) TPS RESIDENTIAL (95,598): (254,820): (174565): ((1 ,624): (147,641): (300,00? 1300,000): (3°0800): (25°P w ): (2wicc"): (250,000): P 9q.c9:. .... (3,1.2.2/?4?) PAT 70 LLC (0945) (4,771 (4,771). (4,771). (4,771). (4,771). (4,771): (4,771): (33,396) BV 70 LLC (0945) (20(??? (30400 MAINT & LANDS - COOPER (30 593). (34,392); (64,985) MAINT & LANDS - KRUPINSKI - 0945 (25.213 (25.713) MAINT & LANDS - KRUPINSKI - 3840 (66 242) • (16,651): (112 165)• (195,058) MAINT & LANDS - KRUPINSKI - 6273 (3,766): (3,945): (2t_L ?1).) MAINT & LANDS - LUPINO (27,703) (27,703) MAINT & LANDS - MARDERS RESIDENTIAL - LIGHTING - 3840 (24,095) (38.284): (22.515): (38.4819 (46,L* RESIDENTIAL - LIGHTING + OTHER 760- 6273 (3,266)- (4,158)• (14,463)- (21,887) RESIDENTIAL- FRANK & UNDY - BEDFORD 0945 15 MO (1519P?) CONSTRUCTION - KRUPINSKI - 766 MEADOW (224,662 (224,662) MISC OUTFLOWS (2,554) 18,655 (43,417) (550,273) (9,051) (12,455) (4,982) (87,797) (26,782) (26,782) 126,782) (26,782) 126,782) (28,782) (852,565) SERVER - IT - LOB SHARE (4329): (1,849): (1,782): (1,782): (1,782(: (1,782): Vige (1,782) (1,7821: (1,782): (1,782): (1,782): (1,782): (23,980) TPS - MSIC 21,232 - (21,434). (39,694): 4,553 (25,000) (25,000) 425.000)- ps,o(Ko- (25,030). (25000)- (25,0[0)- (210,343) MISC OUTFLOW (25): (135): (125): (660F (750 (4695) MISC OUTFLOW - 0945 (241): (2,478): (100)- (1,140): (3.630 (7 .589) MISC OUTFLOW 6273 (153)_ I9092): 1 660 • 12 2).; (2•060 (2-5/TPP) INTEREST BANK FEES (375): (50): (50): (25): (KO) EMPIRE VALUATION - INVOICE (10,421): (10,421) PECONIC ENVIRONMENTAL (3,909(: Vern CSC FEE (262): (734 (996) MCMT TAX (2 700). (3199) FTB - NOTICE - SEE REFUND ( 214)- (,214) LDB TRANSFER TO SEP - HERITAGE/ INTEREST INTERCO- LDS 2014 LLC INTEREST 504 485 . 57 077): (669.46P1 viOn EFTA00591074 FINE ART, RARE BOOKS, BRONZES ET AL LEON & DEBRA BLACK PROJECTED CASH FLOW FY2015 FY 2015 FY 2015 FY 2015 FY 2015 FY2015 FY 2015 FY 2015 FY 2015 FY2015 FY 2015 FY 2015 FY 2015 FY2015 ACTUAL JAN - JUN; PROJECTED JUL - DEC 2015 IAN 1-15 MN 16 - 31 APRIL 1-15 APRIL 16-30 TOTAL PREPARED BY R JOSUN IAN JAN FEB MAR APRIL APRIL MAY JUN JULY AUG SEP OCT NOY DEC NET INFLOW FINE ART DEIALANDE - CANES KAPOOR - FOLD I PONTORMO - FINE ART MIERIS/RUBENS - CHRISTIE'S LUXURY CATALOG- RARE BOOKS GISELLE CROES GEOFFREY DINER GALLERY MAGNAN METZ GUT17AAN - FRAMING A.BLOEMAERT - HEAD AND ARM T & R OAKB - KELLY'S SLOUGH CROWN FINE ART KUNSTHANDLUNG HELMUT DE MYSER - COYPEL KITAJ - IRON KNIFE UECKER ELLSWORTH MICHAELANGELO BRONZES GISELLE CROES JEWELRY RARE BOOKS SHAKESPEARE FOUO Saeenplay - The Godfather NUREMBURG CHRONICLE FURNITURE ET AL FLOOR LAMPS - ADNET PHIWPS - HOFFMAN/JEANERET/ PONT FURN. BOILLY - SO1HEBY'S LAMB - STOOLS (185,305) (10,562,518) (1,091,559) (1,009 658) (214,423) (6,122,831) (19 186,294) (185 ( 20)- (8.4WIWOC (2.284,198) (352,674). . (580,683). (7,340): (17 420). (1,7961: (28.429 (1ss,*) 58,250AW L) (2,284,196) (352.674) (580.683)._ca (7,340) (17.420) (1,796) 069,9361 (131,080: (2,515 (637,768(: (76,923)E (137,500) 369 936) (131,086) (2f?P) (637,768) (76,923) (137,500) - (1,306,500 (16,331 - (1 306 503) (16,331 (4,800,000 (4 800 000 (5,562,353) 95,266 - (sr?rgi353)- 95.266 - (5,467,087) - (5 ,467.087). (342,850) (361.361): (1%491). (18,491): (342 850)- (248,305) (315,556) (36745 -248305: (342:459: (163 3131 (763.4M (246,305): 3 c 15.4PP): (36,745): (1631?M: (315,556): (36,745): (163,313) EFTA00591075 LDB & NARROWS ACTUAL JAN - JUN, PROJECTED JUL - DEC 2015 PREPARED BY R JOSLIN JUN 25 2015 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL ART - ADVISORY (DH) (28,083) (28,083) (28,083) (28,083) (28,083) (28,083) (28,083) (28,083) (28,083) (28,083) (28,083) (28,083) (337,000) ART - ADVISORY (GG) (16,000) (64,000) - (48,000) - (48,000) - - (176,000) ART - ADVISORY (CM) (75,000) (37,500) - (37,500) (150,000) ART - ADVISORY (DH EXP) (7,983) (6,478) (4,800) (26,893) (9,324) (11,164) (8,300) (8,300) (8,300) (8,300) (8,300) (8,300) (116,442) ART - ADVISORY (SUBLIME) (25,000) (25,000) (2%000) (25,000) (25,000) (25,000) (25,000) (25,000) (25,000) (25,000) (25,000) (25,000) (300,000) ART - SHIPPING (43,098) (41,306) (5,936) (5,215) (30,369) (2,523) (25,000) (25,000) (25,000) (25,000) (25,000) (25,000) (278,447) ART - CONSERVATION (7,295) (4,568) (19,179) (5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (61,042) ART - INSURANCE - - (748,495) - (748,495) ART -LEGAL (20,000) (275) (4,240) (10,577) (10,476) (45,568) ART - HANDLING (31,502) (1,607) (750) (800) (1,188) (5,866) - - (41,713) ART - PHOTOG (13,467) (3,457) (1%147) (14,762) (11,967) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (73,800) ART - MISC (6,188) (4,431) (25) (4,841) (5,257) (150) (20,891) ART - FRAMING (30,567) (30,567) ART -RESEARCH BOOKS (25,057) (7,500) (7,500) (7,500) (7,500) (7,500) (7,500) (7,500) (77,557) (176,429) (158,684) (84,148) (244,621) (128,102) (875,610) (197,509) (101,383) (101,383) (186,883) (101,383) (101,383) (2,457,520) ART EXPENSES EFTA00591076 LEON & DEBRA BLACK PROJECTED CASH FLOW FY2015 ACTUAL JAN - JUN; PROJECTED JUL - OEC 2015 IAN 1-15 PREPARED BY R JOSUN IAN FY2015 FY2015 JAN16 - 31 JAN FEB FY2015 MAR FY2015 APRIL 1-15 APRIL PROPERTY TAX AND INSURANCE FY2015 FY2015 FY2015 FY2015 APRIL 16-30 APRIL MAY JUN JULY FY2015 AUG FY2015 FY2015 SEP OCF FY2015 NOV FY2015 DEC TOTAL NET INFLOW PROPERTY INSURANCE (02,751) (165,464) (365,949) (106,990) (71,350) (754,504) 760 Park Ave/ 750 Park Ave AUTOMOBILE : ps 330): - : (55 992)- : - : - : (5-5.49?): (16,330): JEWELRY TOWNHOUSE -09455 BEDFORD - 0945 SOUTH HAMPTON -0945 - : (42,751). (165r464 J266,559): (61,060). (108,990) (15,356): (269459) (108,09) 5160,822) (123,811) REAL ESTATE TAX (249,431) (150,464 207 307) (100274) (259801 (160 072) In26.4M TOWNHOUSE -MAINT A/C (154,464): - - (150,831) (305,295)• BEDFORD-TPS 149,156); p07,307); 356 46N BEDFORD - 0945 - : (164,072): 4164,0i2) SOUTH HAMPTON - TPS (1C0,274) - 5100,274: : („200509) SOUTH HAMPTON -0945 (100,349 - (100,349) EFTA00591077 CASH BALANCES (EOM) BY ACCOUNT LEON & DEBRA BLACK PROJECTED CASH FLOW ACTUAL JAN - JUN; PROJECTED JUL- DEC 2015 PREPARED BY R JOSUN FY 2015 IAN 1-15 IAN FY 2015 JAN 16 - 31 JAN FY 2015 FEB FY 2015 MAR FY 2015 APRIL 1-15 APRIL FY 2015 APRIL 16-30 APRIL FY 2015 MAY FY 2015 JUN FY 2015 JULY FY 2015 AUG FY 2015 SEP FY 2015 OCT FY 2015 NOV FY 2015 DEC CASH - DEBRA - 6140 - US TR 6,278,887 6,279,880 6,280,603 6,280,603 7,731227 7,733292 7,734,080 7,734,080 7,734,020 7,73%080 7,730,080 7,734,080 7,734,080 7,734,080 CASH - MELANIE POA - USIA 6,341201 5,726,002 3,796,465 1,680,023 1,264283 1,259,133 3,044,520 3,225,077 3037,258 2,84%040 2,585,822 2,397,603 2,209,386 1,946,167 CASH - TPS IS493) 741,082 95,540 66,406 234,451 734,451 262.323 622,934 857,934 282,934 307,934 282,934 257,934 232,934 207,934 CASH - HOUSEHOLD 6296 73,004 9,787 14,195 7,002 207,002 129.376 70,675 49,779 10%112 16%445 224,778 283,111 341,444 399,777 CASH - NY 70 MAI NT A/C 60,000 50200 50,000 5,536 5,536 5.536 5,536 705 705 705 705 705 705 705 CASH - LEON 6273 3,116 144,930 125,496 92,572 92,572 27.987 124,230 124,230 12%230 12%230 124230 124,230 124,230 124,230 CASH - JOINT - 0945 - US TR 4,741.280 8,919,173 6,915,787 42,282,122 17,437,701 21,740,153 13,794,719 22,696,346 2%770,503 29,74%562 28,408.367 24,653,595 17,261,232 21,230,200 CASH - DEBRA (IPM) - 2465 6,201,644 6,201,737 6,201,790 %201,83B 6,20123B 6,201,891 6,201,942 6,201,942 6,201,902 6201,942 6,201,942 6,201,942 6,201,942 6,201,942 CASH - LEON 0PM) -1534 131221 131,246 131,246 131,246 131246 131246 131,246 131,246 131,246 131,246 131246 131,246 131,246 131,246 CASH -LEON 0PM) - BOOS 1,000,297 1,000,297 1,000,297 1,000,297 1,030,297 1,000297 1,000,297 1,000,297 1,000,297 1,000,297 1,000297 1,000,297 1,000,297 1,000,297 CASH - JUDY TRUST - 7203 1,745288 1,746,588 1,745,588 838,433 838433 838,433 1,338,433 336,064 336,064 336,060 36,064 36,064 36,064 136,064 CASH -OFD 794 36,794 300,048 300,048 300048 300,048 300,048 30%008 300,048 30%0413 300,048 30:1,048 300,008 300,048 27,308,712 30,340,013 26,627,921 59,058,230 36,64%132 39,629,714 34,228,720 42,658,147 45,031,459 48,901,592 47,030.512 43,120,865 35,573,607 39,412,690 EFTA00591078 BLACK FAMILY PARTNERS CASH PROJECTIONS FY 2015 FY2015 FY2015 FY 201.5 FY 201S FY 2015 FY2015 FY2015 FY2015 FY2015 FY2015 FY2015 FY 2015 PREPARED BY R JOSUN TOTAL JUN 30 2015 IAN FEB MAR APR MAY JUN IAN AUG SEP OCT NOV DEC INFLOWS APOLLO RELATED: 2/27/23 4/15/15 5.130/15 6/1/15 8/30/15 11/30/15 APO DISTRJBUTION PER SH 5 0.116 0.33 APO DISTRIBUTION - PUBLIC 79 745,361 - 30 599 965 37 090,866 - 30599,965 • 178,036,157 ADO CORP TAX DISTRIB GROSS UP - D111 TO AP PROFESSIONALS 91332,232 9,33 232 TRA 17 541,347 17541,347 INVESTMENT RELATED: DISTRIB (LP) - APOLLO CO-INVESTORS IV LLC 19,281 19,281 DISTRI8 (LP) - APOLLO CO-INVESTORS VI IA) LLC 2,134,661 1,712,177 3,846,838 DISTRIB (LPI AP TECHNOLOGY 26,250 26,250 DISTRIB (LP) - WOLFENSOHN 480.091 480,091 DISTRIB (LP) - TENFORE 57,333 57,333 DISTRI8 (LP) - KNOWLEDGE UNIVERSE UQUIDATION 3,933.826 1.800808 5,733,826 DISTRIB (LP) - KNOWLEDGE UNIVERSE UQUIDATION - PROPCO 7,800808 7,000,030 DISTRIB (LP) - ICAO 305,000 176,135 479,135 SALE - K12 INC (IAN) 557,630 967.237 1.524,867 SALE & DISTRIB & FEE - SUSTAINABLE WOODLANDS 15 694,938 ; (161 446)- 15,533,493 SALE T-INK 110 1C0 110 100 REDEMPTION- LOAN CASCADE 10 0013003 : 10000,000 REDEMPTION-APOLLO VIF (En 3/31/15) 5 801 600 5,801,604 REDEMPTION - KING ST (SIDE POCKET) 5,449 . 51,119 56,567 DIVIDEND - AJNV 120,726: 120,726 120 726 120.726 4132,906 INTEREST-Esww 150,568 150,568 INTEREST- LOAN TO FIJI LLC /22985 1,230 INTEREST -LOAN TO LDS 55,900 55,900 LOAN REPAYMENT - PHAIDON GLOBAL 5,961,093 6,060,000 4.550.80 16511,093 INT REPAY - PLR/ BFP 38,640 • 38,640 HERITAGE PAYMENT 962,012 127,695.i 089,707 TOTAL INFLOWS 25,983098 79.589,403 981,293 35,785,608 41,250,410 1,942,212 7,087,963 37.218,561 120,726 35,149,965 8,800,000 273,909,239 OUTFLOWS (EXCL. DISTRIBUTIONS TO LP'S) CAPITAL CALL - FCI II 192 874 - 1 526,919)- - (1 285 826) (642,913)- - 1- )1 1B • (5,898 532 CAPITAL CALL - COF CO-INVEST III 284 874): 459,237): (598,721): (9°9 823): .... (6611.2.4?,1 mm .1,1,125,000 )Soo mo): ...... (sPPRF (5,015073 [ANTAL CALL -ATHENE (41,6130,000): (41,600,000 CAPITAL CALL-TENFORE (16,817)- (39,749): (25000D)- (306,566 CAPITAL CALL - HAO (60,003): (60,000 CAPITAL CALL -CURATON MEDIA (650,000): 1325,060) (1.303,030 FAMILY OFFICE (270,003): (531,003): (411,901 (511AcI): ...... (!'?VP?) .... (540,000): (540,000 (.557#13°R (557,000)1 (557,000 (5,915,000 LEGAL( ACCOUNT NG/ PROF FEB (WOW): (moo° MI SC (9s)? 145). (1137) (710) (1.687 TOTAL OUTFLOWS (EXCL. DISTRIB. TO LP'S) (824.660) (2.077.919) (470,237) (43,399,515) (1,732,663) (2.424,446) (1,436,418) (1.290,000) (2,165,000) (1,057,000) (2,182,0001 (1,057,000) (60,116,857 DISTRIBUTIONS TO UMITED PARTNERS 125.000.000) (55,000,000) (26,873,578) (30,600,000) (37,090,866) (30,599,965) (205,164,408 NET CASH BY MONTH 158.438 77,511.484 (54,488,944) (34,487485) 39,517,747 (31,092,233) 5,651,545 11.162,305) 12,165,000) 1936,274) 2,368,000 7,743,000 8,627,973 CASH BALANCE 18,275,692 95,787,176 41,298,232 6,810,747 46,328,494 15,246,260 20,897,806 19,735,501 17,570,501 16,634,227 19,002,227 26,745,227 EFTA00591079 NARROWS HOLDINGS LLC PROJECTED CASH FLOW JUN 30 2015 INFLOWS NARROWS PURCHASE PRICE ADJ - APO 1 ART SALES FY 2015 JAN 85,000 FY 2015 FEB FY 2015 MAR 601,013 FY 2015 APRIL FY 2015 MAY FY 2015 JUN FY 2015 JULY FY 2015 AUG 6,500,000 FY 2015 SEP FY 2015 OCT FY 2015 NOV FY 2015 DEC TOTAL NET INFLOW 7,186,013 CAPITAL CONTRIB 5,630,000 3,233,550 23,000,000 34,500,000 28,750,000 95,113,550 TOTAL INFLOWS 85,000 5,630,000 601,013 3,233,550 23,000,000 34,500,000 6,500,000 28,750,000 102,299,563 OUTLOWS REIMBURSEMENT -APO 1 (3,233,550) (3,233,550) ART EXPENSE - INSURANCE NARROWS PURCHASE PRICE ADJ - APO 1 MARTIN PURYEAR (1,469,813) (1,469,813) CALIARI & CARRACCI (4,641,000) (4,641,000) PLACEHOLDER - FINE ART (1031) (6,500,000) (6,500,000) PICASSO - BUSTE DE FEMME (23,000,000) (34,500,000) (28,750,000) (86,250,000) ART - EXPENSES (16,000) (139,300) (34,124) (32,263) (103,626) (7,500) (7,500) (93,000) (7,500) (7,500) (448,313) TOTAL OUTFLOWS (6,126,813) (3,372,850) (23,034,124) (34,532,263) (103,626) (6,507,500) (7,500) (28,843,000) (7,500) (7,500) (102,542,675) NET IN(OUT)FLOWS 85,000 (496,813) 601,013 (139,300) (34,124) (32,263) (103,626) (7,500) (7,500) (93,000) (7,500) (7,500) (243,112) CASH BALANCE 541,573 44,760 645,773 506,473 472,349 440,086 336,460 328,960 321,460 228,460 220,960 213,460 Page 1 of 1 EFTA00591080 APO 1 (INC LOB 2011 LLC/ LBF HOLDINGS) PROJECTED CASH FLOW JUN 30 2015 - R JOSLIN INFLOWS INT INCOME - LOB REAPYM ENT INT INCOME INT INCOME-INTERCO DIVIDEND INC SALE - VECTOR GROUP SHS DISTRIB (LP) - AP TECHNOLOGY DISTRIB (LP) - APOLLO CREDIT OPP FUND I DISTRIB (LP) - FCI INVESTORS I (LDB 2011 LLC) TRANSFER FROM NARROWS TOTAL INFLOWS DISBURSEMENTS FY2015 JAN 1,425 148,021 402,631 FY2015 FEB 1,286 30,182 FY2015 MAR 6,737,737 : 1,504 : 121,140 • 357,894 FY2015 FY2015 APRIL MAY FY2015 JUN 6,812,601 383 2,259 345,376 FY2015 FY2015 JULY AUG 751 : 17.802 - 144,790 - 345,376 - FY2015 SEP 6,887,460 FY2015 OCT 144,790 FY2015 NOV FY2015 DEC 6,887,464 1,000,000 FY 2015 TOTAL 27,325,266 39,990 17.802 582,643 182,009 114.420 842,074 1,760,525 3,233,550 - : 34,641: 144 790 - 253 ; L 179,749 114 420 - L 3,233,550 - 552,077 31,468 7,218,275 3,672,509 34,894 7,160,619 508,719 6,887,464 144,790 7,887,464 34,098,278 TOWNHOUSE - REMAINDER INTEREST CAPITAL CALL - SEARCHLIGHT - : (359 894)- $761:1349 :, (92,422): (160 550)- MI:4MM (1,937,183) (629,036) (4,415,347) (612,866) CAPITAL - AP NARROWS PURCHASE CLASS B INTEREST - AP NARROWS {2.003.0001: (2,000,000) PHAIDON PRESS ACTUAL (1,700 0001- (1,700,000) REGAN ARTS ACTUAL (1,750,000). - (2,900,000)- (4,650,000) DISTRIB-BEN LOAN REPAYMENT - DRB - PHAIDON/ REGAN ARTS LOAN PHAIDON GLOBAL - BFP - PRINCIPAL) LOAN PHAIDON GLOBAL (REFI - BFP - INTEREST) il•PC/L9°°/' (Se9P93): (38,640): (;???‘9921: ffic.c9M91: (4 550 000): (3,203,000) (1,000,000) (16 511 093) (38,640) INTEREST - 2011 TRUSTS (1,5fit,410) (1,566,4101 SALES / USE TAX ART INSURANCE/ FRAMING fa 7561 (66,332) • (61,840): (3,??Mtn; (140,000) (3,930,023) (268,172) FINE ART (38,609F (3,184,678) 13,223,286) VALUATION, LEGAL, ACCOUNTING P8I9.381 (38 938) TOTAL DISBURSEMENTS (368,685) (105,270) (8,811,573) (4,756,727) (4,760450) (4,751,087) (12,344,699) (2,077,183) (4,550,000) (629,036) (43,154,811) NET CASH BY MONTH 183,392 (73,802) (1,593,299) (1,084,219) (4,72%656) 2,409,532 (11,835,980) 4,810,282 144,790 (4,550,000) 7,258,428 (9,056,532) CASH BALANCE 31,217,507 31,143,706 29,550,407 28,466,188 23,740432 26,150,064 14,314,084 14,314,084 19,124,366 19,269,155 14,719,155 21,977,583 Page 1 of 1 EFTA00591081 APO 2 PROJECTED CASH FLOWS FY 2015 FY 2015 FY 2015 FY 2015 FY 2015 PREPARED BY R JOSLIN JUN 30 2015 JAN FEB MAR APRIL MAY BFP BFP BFP DISTRIB DISTRIB DISTRIB BFP DISTRIBUTION DATE 3/2/2015 4/15/2015 5/29/2014 INFLOWS FY 2015 JUN BFP DISTRIB 6/1/2015 FY 2015 FY 2015 FY 2015 JULY AUG SEP BFP DISTRIB 8/7/2014 FY 2015 OCT FY 2015 NOV BFP DISTRIB 11/7/2014 FY 2015 DEC FY 2015 TOTAL BFP DISTRIBUTIONS 3,137,147 6 902 384 3/372,577 3,840,231 : 4 654 826 3,840,231 25,747696 SALE - 101 WARREN ST 4,061,810 5 5 4,061,810 DISTRIB (LP) - QUADRANGLE 204.025 109.139 : 313.164 DISTRIB (LP) - BLUE STAR 5,997 5,997 DISTRIB (LP) - M RELATED 45,500 45,500: 45,500 45,500 - 182,000 ARTSPACE 350,000 350,000 MISC INFLOWS 260 228 349 795 405 2,038 TOTAL INFLOWS 7,25;014 228 6 902 733 3 927,398 45,905 : 3/949,370 45,500 4,654,826 45500: 3 0 231 : 30 662 706 DISBURSEMENTS DISTRIBUTION TO DRB : (10,000,000) (10,000,000) LOAN REPAYMENT - DRB - ARTSPACE (451,000): (451,000) ARTSPACE (350,000+ (1,250 000) (6,556!: 975,000! - (250,000); (2,831556) PHAIDON PRESS : (340,000): (340,000) REGAN ARTS (2,150,000) (2 150 000) INTEREST - LBF HOLDINGS (17,802) (17,802) SH MEADOW - CONSTRUCTION (700,000) (2,500,000) (2,484,546): (5,684,546) SH MEADOW - REAL ESTATE TAX (15,454); (60,000) (75,454) MIAMI PROPERTY ACQUISITION (250,000) (250,000): : (8 250 000) (8,750,000) USE TAX 0'4,0631 (2th96. FINE ART (3,157) (3,157) ART INSURANCE (206 000): (206,000) DISTRIB TO ALEX BLACK (9,500) (9,500) (9,500) (9.500) (9,500): (9,500): (9,500) (9,500) (9.500): (9,500): (9,500): (95 00) (114,000) LEGAL & ACCOUNTING FEES (20,000) (12,167) (03)- (33,070) MISC OUTFLOWS/ EXPENSES (12,012) (33,239)- (333):j (13,535) (59,119) TOTAL DISBURSEMENTS (10,721,512) (29,500) (2,862,657) (1,966,730) (49,295) (2,510,736) (1,265,837) (2,159,500) (215,500) (849,500) (9,500) (8,319,500) (30,959,767) NET CASH BY MONTH (297,062) (3,470,498) (29,272) 4,040,076 1,960,668 (3,390) 1,438,634 (1,220,337) 2,495,326 (215,500) (804,000) 3,830,731 (8,319,500) CASH BALANCE 10,075,355 10,046,083 14,086,159 16,046,827 16,043,438 17,482,072 16,261,735 18,757,060 18,541,560 17,737,560 21,568,292 13,248,792 Page 1 of 1 EFTA00591082 LDB 2014 LLC PROJECTED CASH FLOWS FY 2015 FY 2015 FY 2015 FY 2015 FY 2015 FY 2015 FY 2015 FY 2015 FY 2015 FY 2015 FY 2015 FY 2015 JUN 30 2015 TOTAL INFLOWS JAN FEB MAR APRIL MAY JUN JULY AUG SEP OCT NOV DEC 1/9/2015 3/2/2015 5/28/2015 6/1/2015 8/28/2015 11/28/2015 CASH ON HAND INFLOWS BF P DISTRIBUTION 1,792,125 3,942,675 1,926,432 2,193,559 2,658,859 2,193,558 14,707,208 REPAY ME NT - LOA N • LDB 6,000,000 6,000,000 INTEREST INCOME 7,077 7,077 1,792,125 3,942,675 7,933,509 2,193,559 2,658,859 2,193,558 20,714,285 DISBURSEMENTS LOAN • LDB (6,000,000) (6,000,000) INVESTMENT • ARCADIA BEACON II (2,010,000) (2,000,000) (990,000) (5,000,000) PROFESS FEES • MILLIMAN (36,174) (5,610) (41,784) (6,000,000) (36,174) (2,015,610) (2,000,000) (990,000) (11,041,784) NET CASH BY MONTH (4,207,875) 3,942,675 7,897,335 (2,015,610) 2,193,559 2,658,859 (2,000,000) 2,193,558 (990,000) 9,672,501 CASH BALANCE 5,575,225 5,575,225 9,517,900 17,415,235 15,399,625 17,593,184 17,593,184 20,252,043 18,252,043 18,252,043 20,445,601 19,455,601 Page 1 of 1 EFTA00591083