Status Update Communication

Hi Jaiqi,

We have opened your third location. The area that your salons is in was hit with several very bad storms and a hurricane in the last month. This caused the locations to be closed for many days. The flooding was extreme in the area, however your salons were not affected other than missed days of operation.

Your current combined bank balances are $58,252. We are seeing a deduction in the bank balances from week to week of about $900 a week.

This weeks numbers (after the storm) are looking better. We did take an unfortunate hit during the month of September due to the reasons stated above. Please let me know if you have any questions.

Sabrina

Comments (3)

  1. Sabrina Wall :

    You have 3 strong locations. There is a concern about the remaining capital in the accounts. We are keeping a close eye on this and are working very hard with your local team to maximize the guest count and ticket averages in your stores. With the capital at this amount we consider the investment at risk and it may require an additional capital. We are not to that point yet, but we want to make you aware of the possibility of it.

    In other news, we are now receiving RFE’s for investors who filed around the same time you did. We are expecting your RFE shortly and are checking for it daily.

    Sabrina

  2. LI.JIAQI.SALON.121 :

    I just downloaded the recent three months’ P&L sheets. I am happy to see that the income in both salon stores was increasing steadly month by month, and the expense was in control. Thank you for letting me know about the capital balance and the current deduction rate. I hope that we could avoid the situation of adding more capital in the investment. If the salon store operates as you planned, and the income keeps growing, we could reach the break even in couple months. Also, I am happy to hear more informatino about the third store as it operates normally.

    Again, thank you so much for all your efforts and concerns about my salon stores. We will keep in touch.

  3. Amanda Ramirez :

    Thank you for responding Jiaqi, and we also wanted to notify you that USCIS started to issue responses on the I526 Petition, so yours should be coming up as well. We will keep you updated, thanks!

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