EFTA02352284.pdf

From: Richard Kahn Sent: Friday, October 30, 2015 5:03 PM To: jeffrey E. Subject: Joslin just spoke with Joslin and Joe and the wait for the cash flow =as pointless as they refused to send i was then =old that data was raw and that Brad had not yet reviewed highlights of global =onversation: 1)=cash flow will be flat to down 1mm over the next 2 months 2) APO payment of 0.35 (32,000,000) is due in November (note =his amount is incorporated in flat statement in 1) =bove -> Leon will personally =eceive 80% of this amount (after it flows from -> BFP to 7 Grats then Leon =ithin days of distribution) =rusts will -> receive 20% of distribution 3) January =5th estimated payment appears to be very small or possibly $0 if =apital loss from Phaidon is taken -> =ich J mentioned they overfunded extension payment by $4m and 2014 -> Form =040 had larger refund than expected =ich J also mentioned Ql-Q3 -> payments were made with higher projected =ncome from APO which has -> now been revised down 4) =ich J believes that cash flow will decrease even further in 2016 due to =mailer APO distributions 5) In searching for =ossible capital gains we found a) =ending art sale set up to be in 1031 however Joe believes replacement =as not properly identified =/span>-> 6,000,000 sales proceeds with 2.5mm cap gain =/span>-> 2,000,000 unrealized gain in Lone Cascade hedge fund =owever i am unaware of funds liquidation procedures 6) Rich J says remaining charity pledges for 2015 are 15-17mm =hich includes the 3mm he owes your 3 charities (originally due =-30-2015) 7) Open charity issue that would affect =ash flow in 1) is Momo -> =eon gave a soft commitment of 25mm over 5 years in 2014 =/span>-> 2014 was never funded and they are unsure what Leon will do =n 2015 i then =sked how each individual account would be affected on 10-28-2015 cash =alances and they said they would need more time to know those precise =etails please =dvise thank you Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New York, NY 10022 tel= fa cel EFTA_R1_01331321 EFTA02352284 On Oct 29, 2015, at 1:41 PM, jeffrey E. <jeevacation@gmail.com> wrote: priority is finding the 20m with joslin . first step to =orture =br class=""> please note The information contained in this =ommunication is confidential, may be attorney-client =rivileged, may constitute inside information, and is =ntended only for the use of the addressee. It is the =roperty of JEE Unauthorized use, disclosure =r copying of this communication or any part thereof is =trictly prohibited and may be unlawful. If you have =eceived this communication in error, please notify us =mmediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this =ommunication and all copies thereof, including all =ttachments. copyright -all rights reserved 2 EFTA_R1_01331322 EFTA02352285