EFTA02465259.pdf

From: jeffrey E. <jeevacation@gmail.com> Sent: Friday, April 22, 2016 10:01 PM To: Farkas, Andrew L. Subject: Re: Fw: ill take the 200k =div class="gmail_quote">On Fri, Apr 22, 2016 at 5:52 PM, Farkas, Andrew =. <mailto rote: For your reading pleasure Sent from my BlackBerry 10 smartphone. From: Mukamal, Thomas < Sent: Thursday, April 14, 2016 4:30 PM To: Farkas, Andrew L Subject: RE: Andrew — AYH does have $3MM in cash. We have discussed=in the past with Jeffrey that the docks need some work and we rehabilitate= p-dock quite nicely using mostly Paeiwonsky and Hoffman's money. That was our test case as we have explained=to his guys in the past. We are in the process of costing a similar =ehabilitation to our AYH docks and some other upgrades — and addit=onally the availability of a federal infrastructure grant to supplement some of our money. This will be completed in around 6-= weeks. ATM is completing some engineering work and we want to get s=meone underwater to look at some of the structural pilings. We would=also like to see if we are getting higher rates on the new P-dock to see the extent of the ROI associated with the spend.=C2 There are some other upgrades/refurbishments on the land as well tha= are being costed. We also needed to close our loan extension to mak= sure this money was available. That just closed last week. The nuance here is that AYH's EDC benefits =xpire at year end. I spoke to Darren Indyke yesterday about this and=that we now feel we have a viable path for getting around the IGY shareholder disclosures based on advice from a different law firm.=C2 I would have to step in as the disclosing party based on my role as =he primary manager of the business. Jeffrey would still be required =o make detailed financial disclosures and background disclosures (this is what I raised with Darren to determine if,=in particular, he was ok providing his tax returns to the EDA). Part=of a renewal application will have to include a 5.10 year capital plan tha= goes beyond life safety and refurbishment. This plan is aligned with what we are costing above. Once we underst=nd the total cost to revitalize the docks, the ROI involved — we c=n look at the scope and cost, our cash balances, grant availability and ou= anticipated cash flows (based on the new financing) to see what to financial commitments are appropriate for the EDC applicati=n (and over what time period). This will result in the appropriate s=bmission to the EDC and will lead us to the appropriate distribution. =A0 EFTA_R1_01573070 EFTA02465259 IGY wants the money too — we are close. =AO I am sorry this is taking a while. BPPR took a year — If you want, we can push out a few hundred thousand=without compromising the plan above ($200K each) — I would feel ok=w/ that. Tom From: Farkas, Andrew L. (: Sent: Thursday, April 14, 2016 4:11 PM To: Mukamal, Thomas <i Subject: Fw: What is the story with the =ttached? Sent from my =A0BlackBerry 10 smartphone. From: jeffrey E. Sent: Thursday, April 14, 2016 3:41 PM To: Farkas, Andrew L Subject: Im told that AYH has 3million of cash. =C2 im happy to take some please no=e 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 2 EFTA_R1_01573071 EFTA02465260 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 <mailto:jeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved This message, and any attachments hereto, is confidential and intend=d exclusively for the use of the individual or entity to whom it is addres=ed. This communication may contain information that is confidential, proprietary, privileged, subject to a confidentialit= and/or non-disclosure agreement, or otherwise exempt or protected from di=closure (either by contract or under applicable law). If you are not the i=tended recipient, you are hereby notified that printing, retaining, reproducing, copying, disclosing, disse=inating or using this message or any information contained herein (includi=g any reliance thereon) is strictly prohibited. If you have received this =essage in error, please contact the sender immediately and destroy the message (including any attachments)=and any copies in their entirety, whether in electronic or hard copy forma=. Nothing contained in this e-mail shall be considered a legally binding a=reement, amendment or modification of any agreement with Island Capital Group LLC or any of its affiliates, e=ch of which requires a fully executed agreement to be received by Island C=pital Group LLC or such affiliate. This message, and any attachments hereto, is confidential and intended excl=sively for the use of the individual or entity to whom it is addressed. Th=s communication may contain information that is confidential, proprietary,=privileged, subject to a confidentiality and/or non-disclosure agreement, or otherwise exempt or protected from dis=losure (either by contract or under applicable law). If you are not the in=ended recipient, you are hereby notified that printing, retaining, reprodu=ing, copying, disclosing, disseminating or using this message or any information contained herein (including any r=liance thereon) is strictly prohibited. If you have received this message =n error, please contact the sender immediately and destroy the message (in=luding any attachments) and any copies in their entirety, whether in electronic or hard copy format. Nothi=g contained in this e-mail shall be considered a legally binding agreement= amendment or modification of any agreement with Island Capital Group LLC =r any of its affiliates, each of which requires a fully executed agreement to be received by Island Capital=Group LLC or such affiliate. please =ote The information contained in this communication is confiden=ial, may be attorney-client privileged, may constitute inside informati=n, and is intended only for the use of the addressee. It is the propert= of JEE Unauthorized use, disclosure or copying of this communica=ion or any part thereof is strictly prohibited and may be unlawful. If =ou have received this communication in error, please notify us immediat=ly by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail=com> , and destroy this comm=nication and all copies thereof, including all attachments. copyright -=11 rights reserved 3 EFTA_R1_01573072 EFTA02465261 4 EFTA_R1_01573073 EFTA02465262