EMAIL DETAILS

FYI - regarding Working Capital and progress with PBM Capital who
potentially would be the largest investor.


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Neil Callahan

Rosemont Seneca

401 Greenwich Street, Suite 400 | New York NY 10013 | 212-933-9965 |
212-796-4037

1010 Wisconsin Avenue, Suite 705 | Washington DC 20007 | 202-333-1880

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From: Bradford Manning [mailto:sendtobrad@gmail.com]
Sent: Thursday, February 03, 2011 12:51 PM
To: Alexandra Stanton; Neil Callahan
Cc: Michael Huerta; Andrew Cohan
Subject: Good call yesterday


Alex,
That was a fun call yesterday, great questions on your end as well. I'm
excited to see how things move forward on that.

In regards to Working Capital, Paul seemed fairly interested in it. As he
said, he just wants to make sure that the consulting and deal distribution
is transparent and clean of conflicts, which I know is a priority for you
already.

I am making assumptions here, but other than Paul's concern, I imagine a
couple of the other things we'd like to start focusing on are.

-What do pensions think of the business? (we'll probably want to find a
couple to speak with)
-What size investment from us are you looking for? (smaller is probably
better for how this currently fits into our approach)
-Who's names and reputations will be attached along side us? (i.e. Hunter
and Gov. P)
-What do the early stages of the business plan look like? (what are the
expenses, which pensions are being targeted, etc?)

Very interested in going through this, so thanks again for sharing it with
us.

Regards,


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Bradford J. Manning
373 Park Avenue South
6th Floor
New York, NY 10016
Tel +1 434 249 4580
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