Status Update Communication

Nihao Liu Boyu,

We would like to give you an update on your status. Your current combined bank balances are $61,619. We consider this an at risk investment. You have two locations which are both trending upward, however we do not feel they will break even before the capital will run out. We are requesting a capital call in order to maintain the investment. Based on the most recent break even plan we believe a minimum of an additional $39,000 will be required to maintain the investment. We would like to make a decision soon as to whether or not you are able to make an additional capital contribution because if you can't we will need to close one location in order to keep the other location open. Please let us know no later than November 1st as to your decision. We are meeting with legal counsel tomorrow to discuss your options and how it will impact the visa. We will post a message notification to you after that meeting.

We have started getting the approvals and RFE's for the investors who submitted applications around the same time as yours. We expect yours shortly.

Please let us know if you have any questions.

Sabrina

Comments (1)

  1. Sabrina Wall :

    Nihao Liu Boyu,

    Our legal counsel has advised us that we can keep one location open and as long as we get to the 10 jobs we can still complete the investment objectives. The negative impact of this will be on the value of the investment at the end of the term. We have several years to work on improving the value. They also told us that we can use profits from the one location to reinvest in an additional location later in the process. The indicated that so long as the profits were not being refunded and were being used for eligible expenses, we would comply with that rule in the visa process. Please let us know how you would like to proceed.

    Sabrina

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