s =ead of IMG, good models will follow Payback of 400K debt within =4 months, first money out Option 2 Financing of 2 newcos (Paris and Milano) 160K Eq=ity 1M debt ownership of 50% of newco Big na=es hires in Miano and Paris Will work for free until the 1M is p=id back (24 months) Option 3 Financi