EFTA00868084.txt

"From: Jeffrey E. [email protected] To: Brad Wechsler Subject: Re: Phaidon Date: Mon, 15 Dec 2014"

"Jeffrey-after our conversation today I took a look at Phaidon summary financials (for the first time)."

"Does bfp do more than guarantee the line?"

"Need to combine with bfp ... is artspace part , ? the 13 million of funding"

"im now told that the trusts are going to fund ? instead of BFP"

"Do leon and the trustees know/understand that the 1.5mm net income projection for 2015 disconnects from cash substantially"

"IMAX is a registered trademark of IMAX Corporation. ... The information contained in this communication is ... the property of WE"