EMAIL DETAILS

Let me know if you get this…..trying again.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
P Consider the environment before printing this email.

Begin forwarded message:

> From: Eric Schwerin <eschwerin@rosemontseneca.com>
> Subject: Re: DRAFT EMAIL RE: EXPENSES
> Date: November 4, 2014 at 11:44:14 AM EST
> To: Hunter Biden <hbiden@rosemontseneca.com>
>
> Re-edit……I still have it sort of coming from Devon and you.
>
>
>
> On the last couple of calls there was a passing mention that RSTP has no more money to pay expenses until the next closing. I can’t speak for all of the partners but I know Devon and I were both surprised to hear this and this is probably something we should discuss in more depth on our partners calls going forward. It is important that we all have full transparency into the finances of RSTP so that this doesn’t come as a surprise to any of us AFTER the money has been spent - be it on travel, meals and entertainment and retainer payments, etc.
>
> Going forward we need to set up a system where all the partners can see how the expenses are being managed either through Quickbooks, a Google Doc or via a spreadsheet that is sent around on a monthly basis. In the meantime I know it would be good to see what has been spent in the past year and how much each of the partners are owed. If we need to make some decisions as a partnership on cutting expenses going forward we should discuss that as a group. Hopefully we can all look at our burn rate and current cash on hand on our next call.
>
> Thanks,
>
> Hunter
>
> Eric D. Schwerin
> Rosemont Seneca Partners, LLC
> 1010 Wisconsin Ave., NW
> Suite 705
> Washington, DC 20007
> (202) 333-1880
> eschwerin@rosemontseneca.com
> P Consider the environment before printing this email.
>
> On Nov 4, 2014, at 8:57 AM, Hunter Biden <hbiden@rosemontseneca.com> wrote:
>
>> Can you edit to address it to the whole team-
>>
>> RHB
>> 202.333.1880
>>
>> On Nov 3, 2014, at 3:35 PM, Eric Schwerin <eschwerin@rosemontseneca.com> wrote:
>>
>>> Tried to keep it direct and to the point but I can edit to be more the tone of a “I know we are all having to put money out to make this work but…..” and “if we are going to be the success we want this fund to be we really have to run it like a business” type of email if you want. (But that seemed too much like an email John would send.) Let me know.
>>>
>>>
>>> DRAFT-DRAFT-DRAFT
>>>
>>> John-
>>>
>>> I noticed that you mentioned on a couple of the most recent calls that RSTP has no more money to pay expenses until the next closing. I know Devon and I were both surprised to hear this and this is probably something we should discuss in more depth on our partners calls going forward. It is important that we all have full transparency into the finances of RSTP so that this doesn’t come as a surprise to any of us AFTER the money has been spent - be it on travel, meals and entertainment and retainer payments, etc.
>>>
>>> Going forward we need to set up a system where all the partners can see how the expenses are being managed either through Quickbooks, a Google Doc or via a spreadsheet that is sent around on a monthly basis. In the meantime I know Devon and I would like to see what has been spent in the past year and how much each of the partners are owed. If we need to make some decisions as a partnership on cutting expenses going forward we should discuss that.
>>>
>>> Let Devon or me know if you have any questions.
>>>
>>> Best,
>>>
>>> Hunter
>>>
>>>
>>> Eric D. Schwerin
>>> Rosemont Seneca Partners, LLC
>>> 1010 Wisconsin Ave., NW
>>> Suite 705
>>> Washington, DC 20007
>>> (202) 333-1880
>>> eschwerin@rosemontseneca.com
>>> P Consider the environment before printing this email.
>>>
>