Subject: Re: RBTM Updated Pricing Analysis
From: "John DeLoche" <[email-masked]>
To: "Neil Callahan" <[email-masked]>
Cc: "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 14:08:10 -0700

So what valuation concession are we asking for relating to the miss? Also, next year is significantly lower than previously projected. 

Sent from my iPhone

> On Oct 7, 2014, at 5:36 AM, Neil Callahan <[email-masked]> wrote:
> 
> 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.com
>  
> <RBTM Summary Historical Financials 10-07-2014.xlsx