From: Joe Avantario Sent: Wednesday, November 11, 2015 10:35 PM To: Jeffrey E. Cc: Melanie Spinella; Brad Wechsler Subject: Cash Flow 2016 preliminary projections Attachments: Cash Flow 2016 preliminary projections.pdf Reclassified taxes on Picasso, eli=inated duplication that I mentioned, made a minor change to Art expense, a=d revised footnotes as suggested Please let me know if you have any=questions. Thanks, Joseph Avantario=/p> Ely=ium Management, LLC Cell 1 EFTA_R1_01392838 EFTA02379410