Epstein Secrets

dustry model: Record LabelsCND .New - Distribute thru spotify & Apple Music to Consumers- key question is how does Sootily pin control over supply? Bull/Bear Views • Bull o sootily becomes the Henna of music by becoming a record label owning exclusive content - not the case today and likely cash intensive EF

I 411,1 414 Olga h44•4,44441N4 I Other tidbits • No deal roadshow, No underwriters • No fixed M of securities for sale • No lock-ups except Tencent Music Entertainment & Tencent (holding for at least 3 yrs from 12/15/17), who own - 7.5% • Majority Ownership by Founders - Daniel Elk controls 37.3% of shares and Martin Lorenu

Labels own New Music & Back Catalog— Distribute thru Sootily & Apple Musk to Consumers — key question is how does Sootily gain control over supply? Bull/Bear Views • Bull o Sootily becomes the Netffix of music by becoming a record label owning exclusive content— not the case today and likely cash Intensive o

NII'w1MM.g dNlViolin a. 1, 31 I k Other tidbits • No deal roadshow, No underwriters • No fixed a of securities for sale • No lock-ups except Tencent Music Entertainment & Tencent (holding for at least 3 yrs from 12/15/17), who own -7.5% • MajorityOwnership by Founders- Daniel Elk controls 37.3% of shares and Martin Lorentzen

abels own New Music & Back Catalog — Distribute thru Spotify & Apple Music to Consumers — key question is how does Spotify gain control over supply? Bull/Bear Views * Bull o Spotify becomes the Netflix of music by becoming a record label owning exclusive content — not the case today and likely cash intensive

63434/d494294dfl.htmtfrom494294_18> Other tidbits • No deal roadshow, No underwriters • No fixed q of securities for sale • No lock-ups except Tencent Music Entertainment & Tencent (holding for at least 3 yrs from 12/15/17), who own —7.5% • Majority Ownership by Founders - Daniel Elk controls 37.3% of shares and Martin Lorent