donnan exh 11

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EXHIBIT "11"

F rom : "Da vi d S . Dwye r" < da vid sdwye r@gmai l. com>

Subject: Re: RE: RE:

D ate : A ugus t 15,201010:09:04 PM EDT

To: "War re n G o od st on e" <war re n@w ir ko .c om>

I think y ou h av e s aid often its abo ut th e ability to pe rform , and te h ability to c on vinc e J im w e ca n pe rfo rm . T hat s pea ks to trac k reco rd an d c re dib ility .

If he did n't n eed us he w ouldn 't b e pay in g 20x wha t h e n ee ds to fo r c ap ita l.

W e're the bridge. O ur job is to bring him to the m oney. These guys are the m oney. It's com modity beyond them . They do the preparations and theyha ve the rel at io nsh ip s .

I'll w ork o n the propo sal o n M on day .

DS D

. On Aug 15, 2010, at 9:50 PM, War re n G oo ds to ne w ro te :

We need the proposal ironed out, its not about sean or fred or harry. Its about what we can do and how

we get rewarded.

Nighty nighty

Kind Regards

'Warren Goodstone

www.wirko.com

www.manorism.com

From: David S. Dwyer [mai lt o: dav ldsdwver@gmai l. comJ

Sent: S unday, A ugust 1 5, 2 01 0 9 :4 2 P M

To: Warr en Goodstone

Subject: R e: R E:

I 'll g et w ith h im tomorr ow ifI an. S ent him an em ail tonight. I think they m ay be too big. L iked Sean because he isfle xib le a nd n on -in stitu tio na l- m o re lik ely to b e a ble to u nd erw rite J im a nd G re g.

Not a bad idea for you to check inw ith Jim at some p oint d on 't yo u th in k? Ju st to m ak e su re th ere is still an o ptio n for u s,an d th at " on h old " d oes n't m ean w e're lo ck ed o ut. I d on 't like callin g th ese g uy s w ith ou t s om e sen se th at th ere is apossibility.

I'm crashing. T alk to you tom orrow . I haven't been to bed before 10 in like 15 y ears. H enry had 3 guys over last night andthey kept m e up til 4:30.B efore you say it, yes I am a pussy.

O n A ug 15 ,2 01 0, at 7:0 9 PM , Warren G oo ds ton e w ro te:

Jewish, must be good!

Kind Regards

Warren Goodstone

www.wirko.com

www.manorism.com

GLC-OO-00

http://www.wirko.com/

http://www.manorism.com/









·.i'~

From: Dav id S. Dwyer I :! I@ j lt o: dav idsdwyer@gmai l. com]

Sent: Sunday, August 15, 2 010 7:07 PM '

T o: Warr en Goodst one

Subject:

lo ok a t th es e g uy s. This is a no th er g uy I k now . ..

www.tmcapital.comljames_grien.html

Dav id S . Dwy er

(404) 274-8001

davidsdwyer@gmai l .com

D av id S . Dw ye r(404) 274-8001


D av id S . D wy er

(404) 274-8001

[email protected]

GLC-DD-00

http://www.tmcapital.comljames_grien.html/

mailto:[email protected]






http://www.tmcapital.comljames_grien.html/



F rom : "Da vi d S . Dwye r" < da vid sdwye r@gmail .c om>

Subject: R e: Donnan

Date: August 15 , 2010 10:22:27 AM ED T

T o: "War re n G o od st on e" <war re n@w ir ko .c om>

W ell S ean s tarte d in A tlan ta. M ay be h ow h e k no ws tho se g uy s.

I can push around m y contacts and see w ho else does th is.J im is n't go ing to g et th e attentio n o f K ons ortium or an y of tho se g uy s w ith ou t u s "filling the g ap " as S ea n s aid.

A nd S ean said w e could w ork out som e split o f fees or structure.

T he ba rrier to e ntry in tha t w orld is c on tac ts an d trac k rec ord and ex pe rien ce.I th ink w e have to look at it that w ay, and say that S ean or som eone like him can get them w hat they need and w e have to find a w ay to participate.

W ith S ean there is a better chance of not being pushed out than if w e brought in som eone w e don't know .

It's a p arado x to b e s ure : it ap pea rs as th oug h he w ants c re dibility , i.e. the ab ility to pe rform . I h av e do ne rea l e state fina nc in g but n ot th is . D erek h as

done tw o fa irly large deals, but as it t urns out m aybe too large and that's w hy he w as caught up in the $2 5k audit.

P lus, and th is is key, I t hink w e need an agreem ent w ith Jim to say that w e have in vo lv em en t b ey on d th e firs t d ea l a nd th en K on so rtiu m o r whoever isone-off on ly. This fits w ith the scope of w ork I w rote up a m onth or m ore ago w here I say w e stay on to constantly m onitor the m arkets and ensure that

h e is g et tin g th e b es t te rm s g oin g fo rw ard .

I have no t c om mitted to S ean but he ha s h elpe d m ore than m os t b ec au se o f ou r frie nd sh ip .

A s for your edits, I really didn 't intend for that to be the base of our next com munication w ith Jim , just as a record of m y notes so you w ould know w hat

happened in that conversation. I'll t ake som e tim e today and rew ork it but I th ink w hat I w ill com e up w ith are som e talking points for you and I in thatnext m eeting w ith h im . And to com e up w ith a very very very specific "please give us x so w e can get this going".

DS D

O n A ug 14 , 201 0, at 1 1:1 3 PM , W arren G oodstone w rote:

Look at their website, their deals are around 5 mill, then look at bartameus - they are local religious guys

family name pittard.

Kind Regards

Warren Goodstone

www.wirko.comwww.manorism.com

From: Dav id Dwyer [ma il to : dav idsdwyer@gmail .com l

Sent: S atu rd ay, A ug ust 1 4, 2 01 0 1 0:4 7 P M

To: Warr en Goods tone

Subject: R e: R E : R E : R E: D on na n

Huh?

David S. Dwyer

404.274.8001

On Aug 14,20107:46 PM, "Warren Goodstone" <warren@wirko,com> wrote:

r see their deals are in the 5 mill range normally and Pittards form is listed as a credit - getting very local!

GLC-OO-001







Kind Regards

Warren Goodstone

www.wi].ko.com

www.mano].ism.com

From: David Dwyer [mail to:davidsdwyer@=ai l com]

Sent: Saturday, August 14, 2010 6:34 PM .

To: Warren Goodstone

Subject: Re: RE: RE: Donnan

Agreed. But what do you think about the bulk of those notes and the thrust of the meeting?

Dav...

David S. Dwyer

(404) 274-8001

[email protected]

GIC-DD-001





F rom : " Da vid S . Dw ye r" < d av id sdw ye r@gmai l. com>

S ubiect: R e: Donnan

Date: August 14, 2010 5;08;17 PM EDT

To : "Wa rr en Good st on e " <w ar re n@w ir ko .c om>

S orry ... b ee n d ea lin g w ith H en ry a ll d ay g ettin g h im re ad y a nd iu st'c atch in g u p.

H ere is the deal I wrote up today m ore as a sum mary of my mee tin g th an a p ie ce fo r d is tr ib utio n.

But if y ou re ad th ro ug h it yo u w ill s ee th e sim plic ity.

I had wanted to go over this w ith you but it m ay have to be M onday m orning. I'm sorry.

W e c an ta lk s om e to mo rro w a fte rn oo n I'm su re .DS D

N otes on conversation w ith S ean B oyd A ugust 1 3, 2 01 0

A nyone at any level w ill w ant evidence of what they are investing in. N o-one w ill take a verbal. T he good new s is how ever that it does not require verym uc h e vid en ce . Ju st cu sto ma ry p re pa re d fin an cia l sta te me nts : in co me sta te me nt, b ala nce sh ee t, p &1 w h ic h th ey 'd h av e fro m p re pa ra tio n o f th e ta x

re tu rn s. W e d on 't e ve n n ee d th e p erso na l fin an cia l sta te me nts fo r th is e xe rcise .

If the business Is real, m eaning that through the financial w e can se e the evidence of the track record as you have described it, then the am ount of

m on ey w e ca n ra ise is e ffe ctive ly lim itle ss. T he p rice w e ca n g et w ill d ep en d o n d eta ils o f th e o pe ra tio n su ch a s m an ag em en t te am , c on ce pt, c om pa ny

o wn ersh ip s tru ctu re , co ntro ls , a dv isin g, a nti-fra ud m ea su re s, c he ck s a nd b ala nce s, a nd co mp an y sta tu s. W e c an h elp w ith th aI. B ut w e a re ta lkin g s in gle

digits. As low as U BO R plus 280 which would m ean about 3.25% as U BOR was at 0 .29% this week.

T his k ind of business is not unique. T he banks w ill a lready understand w hat they do. N o need to have to explain a new technology or business. Thisk in d o f b us in es s is d on e a ll th e tim e.

N o need for form al office o r f or ow ner to be in a suit with an H erm es tie. Just does the B US IN ES S look and feel real and sustainable?

W e a re ta lk in g a bo ut c olla te ra l- ba se d le nd in g. A ss et- ba se d le nd in g a ga in st in ve nto ry . B or ro we r h as c ertific atio ns o n In ve nto ry , a nd th er e is a n in itia l

audit of that collateral. Then there are periodic audits but not every deal. T hey are set up for this. It will not require w ork. E ve n if the collateral is not

assum ed by G lobal, I.e., it is with a 3rd party, that can be accounted for by this system . T he banks w e w ill go to are N ational players that have specially

finance - tra de finance - groups and this is w hat they do.

If t here are issues in th e organ ization such as a lack of suffic ient controls or the team needs strengthening, m ay have to go first to a sm aller m ore

flexible lender or a private fund. In that case we are going to pay prim e plus 4 m ore or less (7.25 % as prim e is 3.25% ).

If t here is an issue w ith show ing collateral, say there is an unorthodox system of goods flow that we don't know about, it m ay push you into the n eed for

a m ezzanine piece. W ith that you are going to pay rates closer to 12% .

. A ll of these lenders w ill req uire G lobal to have som e of their equity , m aybe less than 2 0% , in the business (currently G loba l has this I believe).

In te re stin gly , tra de fin an ce is v ery s ta ble . In 2 00 8, c re dit r em ain ed a va ila ble in tra de fin an ce w he n it d rie d u p fo r o th er in du str ie s (B an ke r's A ss oc ia tio n

fo r F in an ce a nd T ra de B AF T re po rt S ep te mb er '0 9). S o th is s pe aks to th e a bility to p ro vid e c ap ita l co nsiste ntly n ow a nd in to th e fu tu re .

H aving this banking relationship w ill a lso help you m ake m ore m oney. Y ou can offer term s to the buyers w hich w ill help your term s with the bank. M anyw ould like to see you do this.

T he b an kin g re la tio nsh ip is a ls o u se d fo r fin an cin g e xp an sio n in fa cilitie s a nd e qu ip me nt a s yo u g ro w.

B o tt om l in e: if it lo ok s a nd fe els lik e a b us in es s, a nd its g ot a tra ck re co rd a nd id en tifia ble co lla te ra l, th ere is p le nty o f m on ey o ut th ere .

T heir fees.3-5 % w ith som e equity k icker. W ould work w ith DS D a ny w a y possible.

O n Aug 14, 2010, at 2 :50 P M, W arren Goodstone wrote:

Davo, when do you reckon you will be ready to present the latest masterpiece?

Kind Regards

Warren Goodstone

www.wirko.com

www.manorism.com

GLC-OO-001







From: Dav id Dwyer [ma il to : dav idsdwver@gmail .com]

Sent: S aturd ay, A ug ust 1 4, 2 01 0 1 2:3 1 P M

T o: Warren Goodstone '

Subject: R e: R E: S ho rt-te rm F in an cin g: D on 't G et S tu ck in th e M id dle

Not from p ho ne. T ry th is.

www.news.com/article/8026.cfin

D av id S . Dwy er404.274.8001

O n A ug 1 4, 20 10 1 2:1 0 PM , "Warren G oo dsto ne" <wan 'e n@w irk o.com> w rote:

Cant open, can you copy and paste?

Kind Regards

Warren Goodstone

www.wirko.com

www.manorism.com

From: David Dwyer [rnailto:[email protected]

Sent: Saturday, August 14, 20 I0 II :57 AM


Subject; Short-term Financing: Don't Get Stuck in the Middle

R ead this. E sp near end.

http://www.gtnews.com/article/8026.cfm

David S. Dwyer404.274.8001

D avid S . D wy er

(404) 274-8001davidsdwyer@gmai l .com

GLC-OO-001

http://www.news.com/article/8026.cfin









http://www.news.com/article/8026.cfin



F rom : "Da vid S . Dwye r" < da vi ds dwyer@gma il .c om>

Sub;ect:

Date: August 3, 20107:25:55 AM EDT

T o: Wa rr en G o od slo ne <war re n@w ir ko .c om>

Cc : "J . De re k Imes " <derek@p ia dv .com>

I ha d to c all an d raise hell at th e m ana ge men t offic e. M y inte rnet a cc ess is interm itte nt and I am s orry for tha t. I got it w ork in g this am fina lly .

I did talk to D erek. D ID Is under $20k, m aybe w ay under.

T he c os ts w ere h ig her (m ay be $ 30 k), a nd the term "res truc tu re " w as m ore a pp ro pria te w hen w e talk ed a bo ut the first s cen ario th at pro tec ted ex istinginvestors.

N o s mart m one y w ill g o ou t w ith out k no win g w ha t th ey a re gelling into .Look at the average retail investm ents. W e don't have to give w hat m utual funds do but w e have to show W hat m oney is out and w hat has been proven

to c om e b ac k.

A ll w e re ally ne ed is to es ta blis h as sets and liab ilities , in co me and e xpen se s, a nd re turns . S how in g th e tra ck rec ord of th e re turns is w ha t th e g uy s w e

k no w w ill re qu ir e, a nd s ho win g s uf fic ie nt a ss et s a ga in st lia bilit ie s w ill s ho w it is s us ta in ab le .

It's really no t a lull a udit, a nd w e d on 't rea lly h av e to ha ve de taile d rec ord s of e ve ry tran sac tio n - aga in tha t w as a v es tig e of the origin al sc en ario (oh

how I w ish w e didn't go dow n that road).D erek and I could do th is but w e'll have to gel it certified by an accountant and that's w here the costs are.L eg al d oes n't c om e in un til dra fting an y lo an agre em ent (w e h av e to im prov e ov er the o ne-p age r).

T ha t b alan ce sh eet c an lik ely be determ ine d w ith a fe w m onths c he ck rec ords .G ettin g th e ta x r etu rn s is h elp fu l to v er ify th e y ea r- to -y ea r a ctiv it y.

It is hard to think about giving them a list of nam es of investors because that is w here at least som e of our value com es from .

We c an 't r is k h av in g th em b e c on ta cte d.M ore im po rtantly w e ha ve a pp ro ac he d so me alread y an d the rea ctio n is alw ay s the sa me : th ey w ould p ut m oney in this if t hey co uld s ee so me ev id enc e

t ha t it is r ea l.

And W arren, despite w hat G reg said, it IS broken. W hy w hy w hy w ould they pay ax or m aybe 10 x w hat they need to pay?

I k no w the y d on 't th ink it is ba d.I know they think a lot of w ork to take this step but there is so m uch w ork now find ing m oney and keeping track of it - that w ork gets elim inated.

B ut w itho ut inc reas ing sa le s or the ir c urren t w orkloa d w e in cre as e their ea rn in gs b y a fa ctor of 3 o r m ore.

H ow ca n th ey th in k th at's a bad thing ?

D av id S . Dw ye r( 40 4 ) 2 7 4- 80 01

, davidsdwver@gmai l .com

GLC-OO-001





From: "David S. Dwyer" <[email protected]>

Subject: Re: donnan

Date: July 21, 2010 2:11:24 PM EDT

To: Warren Goodstone <[email protected]>

Don't know IfDerek yet responded but he did talk to Coach D last 'night and itwent very well. Derek and I are reconnect ing ina bit . More to report then

but the initial news was good. How are things there?On Jul 21,2010, at 12:19 PM, Warren Goodstone wrote:

Done a deal yeti

Kind Regards

Warren Goodstone

www.wirko.com

On Jul 20, 2010, at 1:40 PM, "J. Derek Imes" <[email protected]> wrote:

I called Jim, he was playing golf, said he wants to 'rock and roll' tonight after eight.

I 'l l let you know what he says.

J. Derek Imes

Principia Investment Advisors LLC

325 Miliedge Avenue, Suite A

Athens, GA 30601

Office 706.549.4383 FAX 706.549.4382 Mobile 706.202.2077

Email: [email protected]

Website: www.piadv.com

From: Warren Goodstone [mailto:[email protected]

Sent: Tuesday, July 20, 2010 9:04 AM

To: J, Derek Imes; 'David Dwyer'

Subject: donnan

Derek, heads up, on an email to Jim re Wirko stuff, I said you would becall ing him today.

Is sharing the first years savings a strategy to max the benefit of the changeover. At the moment we are headin_gto a 2 stage transition of capital-

GLC-DD-00



http://www.piadv.com/

http://www.piadv.com/





say 60/40 G L to us on the savings and a position in the new com pany?

J us t a tho ugh t, b ut w ha tev er w e d o, it n eed s to lo ok re as ona ble to the new inv esto rs a nd n ot be em ba rra ss ing to jim !

K in d Re ga rd s

Wa r re n Goods to ne

www.wirko.com

www.manorism.com

D av id S . D wy er( 4 04 ) 274 ·8001


GLC-OO-001










Subject: Re: fitz

Date: July 19, 2010 12:05:07 PM EDT

To: Warren Goodstone <[email protected]>

were you ableto find those notes from your meeting with Jim?

If so can you fire them off? D and I are sitting at 1prn,DS D

On Jul18, 2010, at 9:50 PM, Warren Goodstone wrote:

Let's see - it's a question of putting a value on the skill and the infrastructure in china.

Kind Regards

Warren Goodstone

www.wirko.com

www.manorism.com

From: David Dwyer [mai lto:dav idsdwyer@gmai l.coml

Sent: S un da y, Ju ly 1 8, 2 01 0 9 :4 4 P M

To: Warr en Goods tone

Subject: R e: R E: FW : fitz

Easy.

D av id S .Dwy er

404.274.8001

On Jul18, 2010 9:43 PM, "War re n Good sto ne " <war re n@wir ko .c om> wro te :

Figure out how r can be rewarded for creat ing an in house importing operation.

Kind Rega rd s

Warr en Goods tone

www.wirko.com

www.manorism.com

From: David Dwyer [inailto:[email protected]]

GLC-DD-00











Sent: S un da y, J uly 1 8, 2 01 0 9 :2 9 PM

To: War ren Good st on e

Subject: R e: FW: fitz

Sounds like what r said, no?

D av id S . Dw yer

404.274.8001

>> On lu118, 2010 9:26 PM, "Warren .. .

D av id S . D wy er

(404) 274-8001

[email protected]

GLC-OO-001





F rom: " Da vid S . D wy er " < da vid sd wy er@ gm ail.c om >

Subject : Re: fH z

Date: July 19,201011 :04:54 AM EDT

T o: W ar re n G oo ds to ne < wa rr en@wir ko .c om >

B een th inking about th is. Y ou m entione d "liq uidations" in C hina . 'Th ink there is a w ay to tap into a netw ork sim ilar to w ha t G reg has here, but in C hina

T hat m ight be the easier ploy since it f its there m odel. I sen se frustration as you are try ing to find wh at G reg w ants in term s of pro duct, w hen m aybew hat he w ants is the 2 0c on the $ b arga in. C ouched a s a "liquidation" it m ig ht get his m otor running.

If th at w as the case, then you can detennine w hat the d em and is.

T he a dd itio na l v alu e y ou have is in logistics and getting the stuff here. They w ill likely be afraid of that and you have o ve rc om e th at h urd le .

A lso there is valu e in being aw are o f trends like you are . G reg doesn't seem to be the hippest guy and m ay not see where the buyers are m oving.

I w as thinking a bout natural connneclion points. If y ou can get 30 0 toilets from C hina that w ere go ing to a b usted ap artm en t deal and can sell th em to

rehab deal that needs new W C's, tha t fits the G L m odel.

O r, if B ig L ots can sell 5 00 0 couches that the y could buy for $2 00 ea ch (like those yo u told m e ab out last year) then that's a fit.

In those cases there should be a fee added to the cost- 5% for exarnpla- fo r a rra in gin g th e p urc ha se , th en a no th er 2 -3 % fo r h an dlin g lo gistics if y ou d(w hich yo u w ill) so th at th e fe es a dd to s om eth in g S Ub sta ntia l.

Y ou wou ld need to g et exclusiv ity in A sia (think big) for supply and as you get c loser to G reg 's ope ration by fu rther conversation you ca n get to w here

you can anticpa te w hat he needs.

H ope the in stallation is going w ell. D erek and I are getting tog ether at 1 pm . Ta lk to you later.

DS D

On Julia, 2010, at 9 :50 PM , Wa rr en G oo ds to ne w ro te :

Let's see - it's a question of putting a value on the skill and the infrastructure in chlna..

Kind Regards

Warren Goodstone

www.wirko.com

www.manorism.com

From: Davi d Dwyer [mai lt o: dav id sdwyer@gma il .c omJ

Sent: Sunday, July 18, 2010 9:44 PM

To: Wa rr en G oo ds to ne

Subject: R e: R E: FW : fitz

Easy.

D av id S .Dwy er404.274.8001

On Jull8, 2010 9:43 PM, "Warren Goods tone" <wan·en@wil 'ko .com> wrote:

Figure out how I can be rewarded for creating an in house importing operation.

Kind Rega rd s

GLC-OO-001







War ren Goodstone

www.wirko.com

www.manorism.com

From: David Dwyer [mailto:[email protected]

Sent; Sunday, July 18, 20109:29 PM


Subject: Re: FW: fitz

S ou nd s lik e w hat I said , n o?

D av id S . Dw y er404.274.8001

>>On Jul 18,2010 9:26 PM, "Warren ...

D avid S . D wye r

(404) 274-8001

[email protected]

GLC-OO-001









F rom: " Da vid S . D wy er" < da vid sd wy er@ gma il.c om >Subject: R e; G L.

Date: July 7,201012:27:09 PM EDT

T o: "W a rr en G oo ds to ne " < wa rr en@wir ko .c om >Cc: "'J. De rek Imes '" <de rek@p iadv. com>

Iw ill work on this docum ent and get som ething to you guys as soon as possib le since i'm sure it w ill take som e back and forth.I'm out next w eek so it will be easy for m e to rem ain in the backgro und.

DS D

O n Jul 7, 2010, a t 1 1 :1 3 A M. W arre n G oo ds to ne w ro te :

Guys, after a long talk with Jim last night, and based on his statement that he and Greg expect to earn 10mill each by

completing all their current deals this year, here Is what Isee as the best play:

A single page outline of the plan, which includes protecting the current Investors with current returns, increasing the

pot to jim and greg, having a large war chest only requiring 15% return with the balance of proceeds going into the

holding company for distribution to greg and jim and the founding investors. One sentence on costs and one sentence

on making GL "investible" for traditional investors, thus allowing for unlimited capital raising and growth at 15%. A

sentence to acknowledge increasing the sales capacity of the business and maximizing the Haier opportunity and others

like it requiring low time input for large turnover. Also a sentence on us managing all the debt pool side of things and

not impinging on their time.

Forget anything about the specifics of due dil igence etc until we get them to buy into the vision. Iam, off to wv this

afternoon, meet greg in the morning and wil l be back tomorrow night. Am actually around early next week and would

like to shoot for discussing the plan with them early next week.

Jim is clearly trying to get Todd into the business and Iwill talk to Todd and feel out where he is at on it. Also the

idea of maximizing the Haier opportunity definitely gets his attention, no matter how hard he tries to remain satisfied

with the current system.

Let me know your thoughts. Also David, Ithink it is very important you remain in the background right now as Jim is

very sensitive to who knows what in the town.

Cheers!

Warren

D avid S . D wy er

(404) 274-8001


GLC-OO-001





From:

Subject:

Date:

To :

~

"Dav id S . Dwyer " <dav id sdwyer@gmai l. com>GL p le ase r espond

July 5,20106:05 :21 PM EDT

Wa r re n Goods to ne <war re n@wir ko. com>, "J . De re k Imes " <derek@p ia dv .com>

1 Attachment, 40.5 K8

T ook o ur doc um ents ov er the las t few d ay s and trie d to s yn thes ize an d dev elop s om ething w e cou ld go ov er in pe rs on w ith C oa ch D onn an.Ih av e no t d ev elo ped the attac hm ents bey on d the 1 st on e, b ut w e m ay no t ev en need tha t ye t.

T his m ay g et us th ro ugh the nex t step.

P leas e tak e a look and let's s ee if th is is clos er to w hat w e n eed .

Iassum e w e are going to gef together at som e point on Tuesday. W hat about 2pm at D erek's office again?

Thanks,DS D

Gl 070510 P oc (40 5 KBl

David S. Dwyer

(404) [email protected]

GLC-OD-001





,

G LO BA L L IQ UID ATO RS ' P RO VIS IO N O F C AP IT AL F OR C ON TIN UE D G RO W TH

G O A L

Increasing current cash-flow and creating long-term sustainable value in G lobal liquidators through the

creation of growth to level lim ited only by that desired by its owners CO wnership").

K EY S TR AT EG Y T O A CH IE VE G O AL

A n available, effic ient and cost-effective source of funds is required to fuel grow th. This form alized

funding m ethod w ill enable G lobal Liquidators to be a source of wealth for its co-creators, the partners

that w ere loyal through the initia l phases! and future investors seeking attractive returns w ith disciplined

re portin g an d q uan tifiab le risk.

P R O C E S S / S C H E D U L E :

I. U nderstand and form alize the leqal and business organization of G lobal liquidators to enable

investor (com fort). B egins July! 2 01 0. C om pleted by S eptem ber! 2 01 0.

n. D eterm ine and create m ost effective structure for investing in G lobal liquidators, anticipated to

be a form of a "fund" that will perm it the optim al intersection of liquidity, risk, and return for

G lo bal a nd its in ve sto rs. B eg in S eptem ber, 2010. C om pleted by N ovem ber, 2 010 .

m. In itiate and m anage the fund to ensure continued perform ance for G lobal Liquidators pursuant to

the orig inal goal of growing the com pany. Com mences D ecem ber! 2010

A CTIO N R EQ UIR ED TO A CH IE VE P RO CE SS

1. Due DiligenceIt is necessary to understand the goals of ow nership, the organizational m echanics, and the existing

financial m odel in order to accom plish the Process outlined above. Principia w ill work w ith Ow nership to

address and answ er a checklist that w ill enable that understanding. Please see Attachm ent A "Due

D iligence C hecklist". U pon com pletion of that list, P rincipia w ill m eet w ith O wnership to review initia l

feedback and develop a draft strategy.

2. Specialist Input and Ownership feedback

Provided a positive outcom e of the due diligence process, and arm ed with an understanding of the

business and the baseline requirem ents needed to successfully launch an investm ent fund, P rincipia w ill

confer with necessary 3rd parties. Based on a budget and a tim eline, these m eetings with corporate

attorneys! accountants, and tax advisors w ill further shape our draft strategy.

3. Final Fund Structure

Upon completion of 3 rd party review s and input, P rincipia w ill publish the final fund strategy and develop

a m arketing plan for the funding itself. The m arketing plan will include targeted investors and

representatives and be appropriately tailored based on all of the realities discovered in the prior

processes.

4. Execution: Marketing and Receipt of Capital through Fund deployment

Because Principia acts as a fund m anager and not a broker/dealer, the (loads) rem ain low and the fund

remain s e ffic ien t m ea ns o f ra ising ca pital for G lob al Liq uida to rs' g ro wth.

5. Execution: Fund Management

E ffective m anagem ent of the fund involves regulatory com pliance, 'conststency w ith O wner goals, and

(adjustm ent) to reflect changing m arket alternatives and investor requirem ents. P rincipia w ill rem ain

involved in the m anagement of the fund beyond its in itia l inception and raise.

P RO CE SS M A NA GE M EN T

P RIN CIP IA A dvisors w ill orchestrate the process and raise the desired level of capital. P rincipia w ill a lso

provide ongoing day to day m anagem ent of the fund, com munication with investors, and m onitoring of

own ers hip 's g oa ls a nd in te ntio ns .

C O N C L U S I O N

Investors are actively looking for (m id-teen) yields provided risk is quantifiable and opportunities are

thoroughly understood, vetted, and appear sustainable. The successes of G lobal Liquidators w ould m ake

a very attractive investm ent for a considerable am ount of .capita Iprovided G L can support its m odel for

s uc ce ss a nd pro vid e a v ehic le fo r le gitim ate inv es tm en t.

GLC-OO-001



Attachments:

Attachment A: Due Diligence '

Attachment B : 3 rd Party R es ou rc es (in clu de s le ga l, a cc ou ntin g, b an kin g, a nd re gu la to ry )

A tta chme nt C : B ud ge t

A tta chme nt D : S ch ed ule

GLC-OO-001



A TIA CH M EN T A · D UE D IL IG EN CE C H EC KIS T

In order to (not waste tim e and m oney) for G lobal, Principia suggests a tw o-step D ue D iligence Process.

Part A is based on a discussion and dialog betw een Principia and O wnership. This is fo llowed by a brief

co nfe re nce b etw ee n P rin cip ia a nd Own ersh ip to a dd re ss th e "g o/n o-g o" d ecisio n fo r a dd itio na l

expenditure of time and money. '

P art B step is a m ore thoro ug h in fo rm atio n gathe rin g.

P rio r to th is D ue D ilig en ce P ro ce ss, P rin cip ia w ill p ro vid e fu ll co nfid en tia lity a nd n on -d isclo su re

agreements.

DU E DILIG EN CE - PAR T A : The D ialog

a. W hat is the business and how does it work? Provide a description of G L's O peration includ ing form at

fo r ty pic al tra ns ac tio n, c ompe titiv e a dv an ta ge (re la tio ns hip s) a nd s us ta in ab ility , lo gis tic s in clu din g

shipping and physical transfer as w ell as m oney and title transfer; e tc . W hat are the key

relation ship s? A re there m ultip le lines of bu sine ss (such as retail)? W hat a re the na tural line s o f

o pe ra tio na l d ivisib n? A re th ey b ase d o n m eth od o f sh ipme nt, d em an d vs. su pp ly-d rive n tra nsa ctio ns,

or another log ica l d ivis ion? Is there a seasonal nature to the business? H ow and when was the

business started and what is the basic h istory to th is point?

b. W hat is the activity of the business over the last 24 m onths? P rovide a list outlin ing Seller, Purchaser,

C ost of G oods, C ost of O peratio ns, R even ue from S ale , tim e of tra nsa ction , sou rces of fun ds, re tu rns

paid with som e descrip tion, and how the deal w as generated. Is there a typical transaction type or

type(s)? H ave any deals not been completed, and if so why?

c. W ha t is the curre nt leg al structure o f G L in clud in g ope ratin g a gre em en ts, pa rtn ersh ip ag reem ents,

re la te d comp an ie s? a nd a gre em en ts w ith in ve sto rs?

d. W ho are the key principles? Provide bios and tax returns for last 2 years, as well as any

corporate/partnership returns. H ow is the organization staffed, and w hat is the current capacity of

t ha t s ta ff?

e. W hat are the key facilities and assets of G L? (S ite visita tion m ay be appropriate).

f. H ow is the business currently financed? W here are the current investor funds located and what are

the details on the flow of those funds? Ar~ all investors/lenders receive sam e term s or are there

d if fe ren t g roups /le ve ls o f pa rt ic ip at io n .

g. W hat are the deal contlnqendes and how is risk addressed for-custom er bankruptcy, paym ent issues,

from the custom er, faulty g ood s, loss, da mag e, or other fulfillm ent issues.

h. W ha t are the curre nt b an king re latio nsh ips for G lo ba l Liq uid ators?

l, What is/are the p rofile (s) of th e curre nt inve sto rs. P ro vid e co ntact inform ation w here p ossib le .

j. What is the co ntem pla te d busine ss plan a nd strateg y? Is the cu rrent line (s) o f bu sin ess su fficien t?S usta in ab le ? A re th ere o th er lin es/in te re sts th at th e a dd itio na l fu nd in g ca n/co uld su pp ort?

k. W hat are the goals for the future for the Ownership? How much funding is needed/how many deals

currently unavailab le could be achieved and w hat is the needed funding? For growth, w hat are the

needs in other form s of capital: H um an, Facilities, etc based on (d) and (e) above.

DUE DILIGENCE - PART B

GLC-DD-00




Subject: Re: Global Goods Receivers

Date: July 2,201010:06:40 AM EDT

To: "Warren Goodstone" <:[email protected]>

Not sure. Wil l ask JDI.

On Ju12, 2010, at 10:04 AM, Warren Goodslone wrote:

What is the technical name for the type of fund we are trying to create?

Kind Regards

Warren Goodstone

www.wirko.com

www.manorism.com

From: David S. Dwyer [mailto:[email protected]]

Sent: Friday, July 0212010 9:48 AM


Subject : Re: Global Goods Receivers

mor e g oo d s tu ff a lth ou gh mo re s ub je ctiv e th an th e o bje ctiv e lis t y ou h ad e ar lie r.

O n Ju 12 , 2 01 0, at 9 :4 2 AM , Warren G oo dsto ne w ro te:

Fund and Co-Investment Due DiligenceOur fu lly d ed ic ate d te am p os se ss es a n in -d ep th k nowle dg e o f th e p riv ate e qu ity e nv ir onm en t, th er eb y e na blin g u s top ro vid e b es t- in -c la ss fu nd a nd c o- in ve stm en t d ue d ilig en ce . O ur d ue d ilig en ce s er vic es a re ta ilo re d to th e s pe cific n ee ds

a nd re qu ireme nts o f e ac h c lie nt a nd in ve stm en t. T he o bje ctiv e is to e nh an ce o ur c lie nts ' in ve stm en t s uc ce ss b y p ro vid in gi nt el li ge nc e on k ey r is ks a nd b en ef it s a ssoc ia te d w it h e ac h i nv es tment . Th es e s er vi ce s a re p ro vi de d on a nondi sc re ti on ar yb as is , w hic h e nh an ce s th e o bje ctiv ity o f o ur a dv ic e a nd th e fle xib ility o f o ur r ole .

F un d D ue D ilig en ce

B ased o n o ur u nd erstan din g o f y ou r n eed s, th e sco pe o f p ro ced ures th at w ill b e p erfo rm ed in co nn ectio n w ith a pro po sedinvestment may include the follow ing: .

D iscu ss ke y is su es an d co ncern s w ith y ou . A ll p relim in ary co ncern s o r u niq ue is su es th at yo u m ay h av e, b as ed o n y ourk nowle dg e o f th e g en er al p ar tn er o r th ro ug h in itia l ta rg et s cr ee nin g, w ill b e d is cu ss ed w ith y ou up fr on t a nd a dd re ss ed a spart of our due diligence process. .

R ev iew h is to ric al p erf orm an ce a nd c ha lle ng e d ata a ss ump tio ns > Inp ar ti cu la r, w e w ill u nd er st an d a nd v al id at e t he

a ss ump tio ns a nd meth od olo gy u se d in th e IRR a nd mu ltip le c alc ula tio ns w ith a f oc us o n a na ly zin g th e q ua lity o f u nr ea liz edinvestments.

R ev iew an d v alid ate in vestm en t strate gy an d o pp ortu nity ag ain st m ark et a nd y ou r o bjectiv es.

U nderstand term s of the Partnership and the econom ic im pact to the investor. K ey issues, such as alignm ent of

i nt er es ts b etw e en t he g en er al p ar tn er a nd l im it ed p ar tn er s, d is tr ib ut io n me ch an ic s ( in cl ud in g gua ra nt ee o f c law -b ac kI ia bi li ty j. .c re di ta bl e f ee s a nd v al ua ti on pol ic ie s w il l b e a ss es se d r el at iv e t o ma rk et a nd t he pot en ti al impac t o n you r r etu rn s.

GLC-OO-001







Meet with the general partner to discuss key issues associated with the proposed investment. The key items would

include market outlook" firm and fund strategy, track record, team, culture and other organizational issues, reporting and

back office capabilities.

Perform reference calls. We will interview other limited partners who have invested with the general partner in the past,

co-investors (other general partners who have invested alongside the general partner) and portfolio company CEOs.

Report on results. Our report will include an executive summary that quickly highlights the key issues and concerns that

win support your investment decision and will specifically report on key areas such as: Investment Strategy and Approach;

Investment Manager Team; Performance Analysis and Track Record; and Other Key Matters relevant to your investment

decision.

We will also stay involved in the negotiation of terms and conditions ifyou determine to make a fund investment and will

coordinate with your external counsel to negotiate terms and conditions and assist in closing the transaction in the most

efficient and timely manner possible.

Co-Investment Due Diligence

Our co-investment due diligence services are focused on providing the limited partners with a greater understanding of thescope of the general partner's due diligence, enabling the limited partner to assess whether the additional exposure beyond

the fund's investment in the portfolio company or vehicle is prudent. Additionally, with a wide network of general partner

contacts, we can also provide input on potential deal flow from those general partners so that you can begin building

relationships with additional top quartile partners.

With our collective background in performing direct investment due diligence for financial and strategic buyers, we have

tailored our approach to assist institutional investors in evaluating co-investment opportunities. We can provide cost

effective co-investment due diligence assistance to you, focusing on the following primary areas and activities:

Screen co-investment opportunities based on agreed upon criteria. We will work with your team to develop specific

initial target screening criteria, and apply this criteria to evaluate potential opportunities.

Discuss key issues and concerns with you. All preliminary concerns or unique issues that you may have, based on your

knowledge of the investment or the general partner, will be discussed and addressed as part of our due diligence process.

Obtain a detailed understanding of the investment opportunity. In particular, we will analyze the transaction terms,

business performance of the target company, nature and extent of the general partner's due diligence process, general

partner's investment thesis for making the investment and the rationale for the acquisition price and transaction structure.

Meet with the general partner, target management and other industry experts to discuss key 'issues and risks

associated with proposed investment. The key items would include industry and market outlook, firm strategy, management

team, and financial performance. This would be done in concert with your staff to the extent possible.

Independently verify the genera) partner's diligence and assumptions.. W e will perform reference calls with industry

experts, other general partners, co-investors and portfolio company CEOs'. '

Report on results. Our report will include an executive summary that quickly highlights the key issues and concerns that

will support your investment decision and will specifically report on key areas, such as: Investment Opportunity and Risks;

Industry / Sector Overview; Company Overview; Transaction Details; Experience and Track Record of the Investment

Manager and Other Key Matters relevant to your investment decision.

Kind Regards

GLC-DD-00



Warren Goodstone

www.wirko.com

www.manorism.com

From: David S. Dwyer [mai lt o: dav idsdwyer@gmail .com l

Sent: Fr iday, July 02, 2010 9:06 AM

To: J . D ere k lm es ; W arre n G oo ds to ne

Subject: Globa l Goods Receive rs

A lrea dy th in kin g a bo ut a n am e c ha ng e. G atta k ee p th rowin g u p some . H ere 's m y first.

G l oba l Goods Rece iv er sT his o ne ma ke s a n a llu sio n to Americ an F oo tb all, h in ts a t d is tr es s, s till in dic ate s th e g lo ba l n atu re , a nd in clu de s th e n atu re

o f t he bu si ne ss .P lu s th ere is n ot o ne e xa ct re fe re nc e o n G oo gle .

W e 'll h av e a ll w ee ke nd to p on de r. L et's d o g et b ac k to ge th er o n T ue sd ay .W arren w as g oin g to p ut his n otes into m y em ail an d sen d back aro und .

I can p ut that in to a W ord d oc fo r u s to con tin ue to refine.

D av id S . D wy er(404) 274-8001


D avid S . D wy er(404) 274-8001


D av id S . D wy er

(404) 274-8001


GLC-DD-001











donnan exh 11

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