Subject: Fw: BD Docs
From: "Eric Schwerin" <[email-masked]>
To: <[email-masked]>
Date: Sat, 4 Jun 2011 08:18:26 -0700 (PDT)

FYI, if we assume Arlene is receiving fees through Ajax not our BD, this model is still accurate, but we might want to reduce her 20% to more accurately reflect the fact that she is no longer covering any expenses.  Clearly the 30% she receives in the out years in this model is too much.  

You can play with the ownership percentages and the numbers should all change.  Call me if you can't figure out how to do that on the Excel Spreadsheet.

----- Forwarded Message -----
From: Eric Schwerin <[email-masked]>
To: "[email-masked]" <[email-masked]>
Sent: Thursday, May 26, 2011 4:02 PM
Subject: Fw: BD Docs

----- Forwarded Message -----
From: Eric Schwerin <[email-masked]>
To: "[email-masked]" <[email-masked]>
Sent: Monday, May 16, 2011 7:39 PM
Subject: BD Docs

Email me to confirm when you've downloaded the