Subject: RBTM Updated Pricing Analysis
From: "Neil Callahan" <[email-masked]>
To: "William Lee" <[email-masked]>, "John DeLoche" <[email-masked]>, "Devon Archer" <[email-masked]>, <[email-masked]>, "Eric Schwerin" <[email-masked]>, "Hunter Biden" <[email-masked]>
Date: Tue, 7 Oct 2014 05:36:53 -0700

Hey guys,

Here is the updated gap analysis from the July numbers to the September
numbers:

1.      27% reduction in revenue in 14 plan (I think we were saying it was
40% on the call).

2.      EBITDA reduction of 63% July vs Sept plan

3.      This Year Revenue Multiple = 2.65 on a $35m pre

4.      Next Year Revenue Multiple = 1.68 on a $35m pre

Best,

Neil

Neil Callahan

Co-Founder & Managing Director

Rosemont Seneca Technology Partners

152 West 57th Street, 47th Floor

New York, New York 10019

202-333-1880 (o)

917-945-9516 (m)

877-749-8879 (f)

www.rstp.co