Epstein Secrets

129,058) (890,699) Cash Outflow Royalties - Advance= (14)* 141,000 91,250 295,000 205,000 1,250 0 0 33,750 368,750 230,000 10,=00 65,000 1,441,000 Royalty Advances (15) 250,000 250,000 250,000 2=0,000 250,000 250,000 83,333 83,333 83,333 83,333 83,333 83,333 2,000,000<=r> PPB 0 100,000 473,350 123,700 116,725 1

2015 10:05 PM To: Melanie Spinella Subject: PPB and Plant expenses units are based on the laydown unit= less the returned units footnote? Jan-15 Feb-15 Mar-15=Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 FY 2015 =br>Cash Inflow Revenue 0 0 0 510,916 2,001,261 788,696 408,485 29,9=2

Flow - OutflOwL - Royalty Advances (14) are the commitments we have made in 2014. These are the installments that we have to pay per title in 2015. Royalty Advances (15) is a placeholder for advances on titles that will be produced in 2016 and beyond. The model front loads (75%) in the first half of 2015. PPB pa

returns of earlier publications. Prepared by J. Murphy 12/5/2014 EFTA_R1_02122781 EFTA02710586 Regan Arts Cash Flow 2015 Cash Inflow lan-IS Feb-15 Mar-15 Apr-15 May-1s krn-15 hil-15 Aug-1S Sep-IS Oct-15 Nov-15 0e4-15 FY 2015 Revenue 0 0 0 408.733 1,577,905 623,255 317,400 15,

1,777 Cash Outflow Royalties - Advances (14)• 141,000 91,250 295,000 205,000 1,250 0 0 33,750 368,750 230,000 10,000 65,000 1,441,000 Royalty Advances (15) 250,000 250,000 250,000 250,000 250,000 250,000 83,333 83,333 83,333 83,333 83,333 83,333 2,000,000 PPS 0 100,000 473,350 123,

193,140 193,140 193,140 193,140 193,140 193,140 2,317,680 Prepared by 1. Murphy 12/5/2014 EFTA_R1_01392936 EFTA02379471 Expense fan-15 Feb-15 Mar-1S Apr-1S May-15 fun-1S Jul-15 Aug-15 Sep-1S Oct-15 Nov-15 Dec-IS EV 2015 Rent • 327.600 27,300 27,300 27.300 27,300 27.300 27