Subject: Fwd: FW: Response to request for financials
From: "Devon Archer" <[email-masked]>
To: 丰实lindsay <[email-masked]>, <[email-masked]>
Cc: "Hunter Biden" <[email-masked]>, "Michael Lin" <[email-masked]>, "James Bulger" <[email-masked]>, "Leonard Mike" <[email-masked]>
Date: Mon, 21 Jul 2014 20:41:53 -0400

Lindsay,
Please find attached the initial data dump for review which includes recent
financial background of the three entities in play including audited
financials and recent appraisals (note Valor appraisal I'll have to you
tomorrow).  I have included a simple one pager org chart of pre and post
transaction (#9) to guide you through the financial reports.

I am working on a custom abbreviated business plan catered to our newly
contemplated rollout group (present company) which I will have to you
tomorrow.  This will include ownership and controls pre and post as
contemplated.

Please let me know what questions we can be working on as they come up or
any suggestions that may improve our approach.

Very Best,
Devon

 ------------------------------
*From:* [[email-masked]]
*Sent:* Monday, July 21, 2014 7:01 PM
*To:* Devon Archer
*Cc:* James Bulger; Andrew Godfrey
*Subject:* Response to request for financials

  Devon,

 You requested financial information about Burnham and affiliates, and
about Wealth Assurance Holdings and affiliates, in connection with the
proposed combination of the businesses. Attached are:

 1. 2013 audited financials - Wealth Assurance Holdings Ltd (PwC)
2. 2013 audited financials - Wealth Assurance AG (PwC)
3. 2013 audited financials - Valorlife (untranslated - KPMG)
4. Summary of 2013 audited financial statements (Deloitte)
5. March 2014 appraisal on Wealth Assurance (Ernst and Young)
6. 2013 audited financials - Burnham Securities (Grant Thornton)
7. 2013 audited financials - Burnham Asset Management (Grant Thornton)
8. 2013 audited financials - Mid America Financial Services Inc
9. Org charts - pre and post transaction

 We will provide the Valorlife appraisal tomorrow.

 You also requested that we summarize the proposed combination.

 The structure of the proposed combination is a straightforward tuck-under
of Burnham Financial Group as a 100% owned subsidiary of Wealth Assurance
Holdings, the publicly quoted holding company.

 The Wealth Assurance name would be retired in favor of Burnham & Co.,
which would be adopted as the new name of the publicly quoted holding
company.

 The holding company would have three drop down subsidiaries consisting of
operations in Securities, Asset Management, and Wealth Management/Specialty
Insurance.

 The business model is intended to combine the favorable asset gathering
characteristics of insurance, with the stable fee income characteristics of
asset management, and the cross-border transactional capabilities of
investment banking/capital markets.

 The model is very much an emulation of the Guggenheim structure which has
successfully built a $210 billion business.

 Hope this responds to what you requested.

 Jaso