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Dev will dial in Ming

On Monday, December 21, 2015, James Bulger <jbulger@thorntonai.com> wrote:

> I agree this is a better classification thanks for getting more detailed
> Sebastian. Talk to you all in the morning
> Jimmy
>
> On Monday, December 21, 2015, Michael Leonard <mleonard@thorntonai.com
> <javascript:_e(%7B%7D,'cvml','mleonard@thorntonai.com');>> wrote:
>
>> Seb,
>>
>> This looks a lot better and contextualizing the whole transaction as a
>> bridge loan makes a lot more sense. It is good that we can follow up the
>> telephone conversation tomorrow with this diligence package so that Ming
>> has something to look at and then hand to Henry at some point.
>>
>> I have no comments or edits.
>>
>> Best,
>> Mike
>>
>> On Mon, Dec 21, 2015 at 4:53 PM, Seb Momtazi <seb@dodsondiversified.com>
>> wrote:
>>
>>> All,
>>>
>>> Please see attached for a recasted one pager that reflects JJR's
>>> investment as convertible bridge financing.
>>>
>>> On Mon, Dec 21, 2015 at 3:46 PM, James Bulger <jbulger@thorntonai.com>
>>> wrote:
>>>
>>>> Fast work thanks for putting it together
>>>>
>>>>
>>>> On Monday, December 21, 2015, Seb Momtazi <seb@dodsondiversified.com>
>>>> wrote:
>>>>
>>>>> Did not have this write up ready. Only the outline waiting for
>>>>> comments. Wrote it out on receipt of your email.
>>>>>
>>>>> On Monday, December 21, 2015, James Bulger <jbulger@thorntonai.com>
>>>>> wrote:
>>>>>
>>>>>> Not great but better for sure
>>>>>> Let's just be ready for the JJR discussion
>>>>>> Ming will question this JJR deal carefully as it has just been sprung
>>>>>> on him. For instance splitting off the Burnham Securities business has
>>>>>> been in the works for 15 months but we just jumped in and executed it at a
>>>>>> a high cost to BAM since our last meeting Ming.
>>>>>> This call tomorrow will be important you guys have
>>>>>> some sound reasons for doing the JJR deal and they can be discussed.
>>>>>> By the way Sebastian did you just send me the outline earlier for the
>>>>>> fuck of it? You must have had this write up ready to go
>>>>>> Larry Liu might also cause some questions Henry will be very careful
>>>>>> about checking out that Chinamans reputation and background. How did you
>>>>>> meet him? And does he actively participate or is he silent for the most
>>>>>> part?
>>>>>> Jimmy
>>>>>>
>>>>>> On Monday, December 21, 2015, Seb Momtazi <seb@dodsondiversified.com>
>>>>>> wrote:
>>>>>>
>>>>>>> Jim,
>>>>>>>
>>>>>>> Please try this.
>>>>>>>
>>>>>>> Best,
>>>>>>>
>>>>>>> Seb
>>>>>>>
>>>>>>> On Mon, Dec 21, 2015 at 2:37 PM, James Bulger <
>>>>>>> jbulger@thorntonai.com> wrote:
>>>>>>>
>>>>>>>> All
>>>>>>>> Why can't you explain the JJR deal in detail using while sentences?
>>>>>>>> Why an outline that is vague?
>>>>>>>> Why avoid the issue of valuation? I find that slide to be half ass
>>>>>>>> I am trying to help you sell this to Harvest so keep this in mind
>>>>>>>> English is Mings second language therefore be clear and consice, also this
>>>>>>>> JJR investment is not to be treated so lightly that it only gets covered in
>>>>>>>> an outline. You have a different valuation, this was was never discussed
>>>>>>>> with Harvest in the past so let's be clear here with a few paragraph write
>>>>>>>> up in narrative form thus allowing Ming to understand and to show Henry
>>>>>>>> Those are my comments
>>>>>>>> Thanks
>>>>>>>> Jimmy
>>>>>>>>
>>>>>>>> On Monday, December 21, 2015, Seb Momtazi <
>>>>>>>> seb@dodsondiversified.com> wrote:
>>>>>>>>
>>>>>>>>> Team,
>>>>>>>>>
>>>>>>>>> Attached are the proposed follow up materials to be sent after the
>>>>>>>>> call.
>>>>>>>>>
>>>>>>>>> It's perhaps best to speak about the valuation considerations of
>>>>>>>>> the JJR capital investment over the phone. Similarly, we can point out that
>>>>>>>>> actual inflows into BAM were 75.4MM through december (although AUM is
>>>>>>>>> higher than what we last sent, it's not as high as 75.4mm because of the
>>>>>>>>> market performance)
>>>>>>>>>
>>>>>>>>> Please let me know comments. Mike, I attach in word so you can
>>>>>>>>> make direct edits
>>>>>>>>>
>>>>>>>>> thanks,
>>>>>>>>>
>>>>>>>>> seb
>>>>>>>>>
>>>>>>>>
>>>>>>>>
>>>>>>>> --
>>>>>>>> James J. Bulger
>>>>>>>> Chairman
>>>>>>>> Thornton Group LLC
>>>>>>>> 14 Beacon Street, Suite 804A
>>>>>>>> Boston, MA 02108
>>>>>>>> Office tel: 617.248.9440
>>>>>>>>
>>>>>>>
>>>>>>>
>>>>>>
>>>>>> --
>>>>>> James J. Bulger
>>>>>> Chairman
>>>>>> Thornton Group LLC
>>>>>> 14 Beacon Street, Suite 804A
>>>>>> Boston, MA 02108
>>>>>> Office tel: 617.248.9440
>>>>>>
>>>>>
>>>>
>>>> --
>>>> James J. Bulger
>>>> Chairman
>>>> Thornton Group LLC
>>>> 14 Beacon Street, Suite 804A
>>>> Boston, MA 02108
>>>> Office tel: 617.248.9440
>>>>
>>>
>>>
>>
>>
>> --
>> Michael R. Leonard
>> Vice President, Operations Department
>> Thornton Group LLC
>> 14 Beacon Street, Suite 804A
>> Boston, MA 02108
>> Office: 617-248-9440
>> Mobile: 781-454-9227
>>
>
>
> --
> James J. Bulger
> Chairman
> Thornton Group LLC
> 14 Beacon Street, Suite 804A
> Boston, MA 02108
> Office tel: 617.248.9440