Return-Path: Received: from server.64xmedia.com by server.64xmedia.com with LMTP id 5j6aCdw9L2RDDQAAdUq3JA (envelope-from ); Thu, 06 Apr 2023 17:47:08 -0400 Return-path: Envelope-to: bchen@aicenergycorp.com, directory@aicenergycorp.com, jlee@aicenergycorp.com, Smelk@aicenergycorp.com Delivery-date: Thu, 06 Apr 2023 17:47:08 -0400 Received: from wsip-72-211-63-13.lv.lv.cox.net ([72.211.63.13]:61888 helo=DESKTOPK3JB9CK) by server.64xmedia.com with esmtpsa (TLS1.2) tls TLS_ECDHE_RSA_WITH_AES_256_GCM_SHA384 (Exim 4.96) (envelope-from ) id 1pkXRk-0000sV-09; Thu, 06 Apr 2023 17:47:08 -0400 From: To: , "'John Lee'" Cc: , "'John Melk'" , References: <00e201d96288$d0a9e610$71fdb230$@aicenergycorp.com> <259CC085-72E0-4225-8D83-76AA9935BBF6@gryffinpartners.com> <000b01d9634d$a3fbcc80$ebf36580$@aicenergycorp.com> <7F7BE6CF-C04D-45F4-9A40-64886BA9206C@gryffinpartners.com> In-Reply-To: <7F7BE6CF-C04D-45F4-9A40-64886BA9206C@gryffinpartners.com> Subject: RE: Answers to Recent Questions - proforma model Date: Thu, 6 Apr 2023 14:47:07 -0700 Message-ID: <008201d968d1$55f1e4f0$01d5aed0$@aicenergycorp.com> MIME-Version: 1.0 Content-Type: multipart/alternative; boundary="----=_NextPart_000_0083_01D96896.A993D040" X-Mailer: Microsoft Outlook 16.0 Thread-Index: AQKzDHpw22R/p0RO6N2i7D3r2cmMAwFu9AhQAlqS7gkCH0Qvba08PGTw Content-Language: en-us This is a multipart message in MIME format. ------=_NextPart_000_0083_01D96896.A993D040 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: 7bit Hi Bob and John, Snow asked me to clear these answers with you prior to sending back to Bill Mann. All the questions are pretty much clarifying questions. #2 could result in an extra calculation being shown on the income statement page and #3 could result in an additional worksheet being generated. However, both are easy additions to make, if required. Please let me know if any of the answers needs to be changed prior to sending to Bill Mann or if they can be sent out as is. I plan to answer Bill's questions as follows: 1. I used straight-line depreciation with the IRS Publication 946 lifetime value for the entire plant (10 years) and an average salvage value of 5% the original cost. I did not go piece by piece in the plant since I didn't have enough information to count every piece of equipment when programming the model. 2. I do not have a DSCR calculation worksheet. I can add a line at the bottom of the income statement worksheet for DSCR if you wish. 3. The USDA requires 3 years of monthly calculations post startup for the 9003 Program. I can create a yearly consolidation of those months if you wish. Sincerely, Phillip Stack From: Gryffin Sent: Thursday, April 6, 2023 2:10 PM To: Phillip Stack Cc: directory@aicenergycorp.com; John Melk ; Smelk@aicenergycorp.com; John Lee Subject: Re: Answers to Recent Questions - proforma model Hello Phillip, Follow up questions on the model: 1. How did you account for depreciation? In particular MACRS? 2. Do you have a DSCR table of tab? 3. The Income Statement tab is monthly until year 2028 (column BO). Is there a reason for that? Maybe best to have it yearly throughout? Thank you. Regards, Bill. -- Bill Mann Gryffin Partners, Inc. 1055 West Georgia St., Suite 2100, Vancouver, BC, Canada V6E 3P3 Tel: 604-269-0860 bm@gryffinpartners.com IMPORTANT NOTICE: This email and any attachments to it are confidential and are intended solely for the use of the individual(s) to whom it is addressed. The message may contain information that is legally privileged. Please do not read, copy, forward or store this message unless you are the intended recipient of it. If you have received this message in error, please inform and forward it to the sender and delete it completely from your computer system. Any views or opinions expressed are solely those of the author and do not necessarily represent those of the firm. On Mar 30, 2023, at 2:21 PM, pstack@aicenergycorp.com wrote: Hi Bill, I adjusted the attached model to reflect the numbers from the accountant. Please let me know if you have any questions. Sincerely, Phillip Stack From: Gryffin > Sent: Wednesday, March 29, 2023 9:31 PM To: Phillip Stack > Cc: directory@aicenergycorp.com ; John Melk >; Smelk@aicenergycorp.com ; John Lee > Subject: Re: Answers to Recent Questions Hello Phillip, Thank you for the explanation and the document, very much appreciated. Yes, it would be helpful if could make the adjustment and run the model. Regards, Bill. -- Bill Mann Gryffin Partners, Inc. 1055 West Georgia St., Suite 2100, Vancouver, BC, Canada V6E 3P3 Tel: 604-269-0860 bm@gryffinpartners.com IMPORTANT NOTICE: This email and any attachments to it are confidential and are intended solely for the use of the individual(s) to whom it is addressed. The message may contain information that is legally privileged. Please do not read, copy, forward or store this message unless you are the intended recipient of it. If you have received this message in error, please inform and forward it to the sender and delete it completely from your computer system. Any views or opinions expressed are solely those of the author and do not necessarily represent those of the firm. On Mar 29, 2023, at 2:52 PM, < pstack@aicenergycorp.com> < pstack@aicenergycorp.com> wrote: Hi Bill, The explanation for the G22 cell is attached. Essentially, the cell considered the conditional stock subscriptions, but I can certainly set it to the total existing equity value and rerun the model. The difference between the current value in the cell and the total existing equity value would end up being covered by a loan in the model. Please let me know if you would like me to rerun the model. Also, attached is the shareholder breakdown, which you requested from John Lee. Sincerely, Phillip Stack ------=_NextPart_000_0083_01D96896.A993D040 Content-Type: text/html; charset="us-ascii" Content-Transfer-Encoding: quoted-printable

Hi Bob and John,

 

Snow asked = me to clear these answers with you prior to sending back to Bill = Mann.  All the questions are pretty much clarifying = questions.  #2 could result in an extra calculation being shown on = the income statement page and #3 could result in an additional worksheet = being generated.  However, both are easy additions to make, if = required.  Please let me know if any of the answers needs to be = changed prior to sending to Bill Mann or if they can be sent out as = is.

 

I plan to answer Bill’s questions as = follows:

  1. I used straight-line = depreciation with the IRS Publication 946 lifetime value for the entire = plant (10 years) and an average salvage value of 5% the original = cost.  I did not go piece by piece in the plant since I = didn’t have enough information to count every piece of equipment = when programming the model.
  2. I do not have a DSCR = calculation worksheet.  I can add a line at the bottom of the = income statement worksheet for DSCR if you wish.
  3. The USDA requires 3 years of monthly calculations post startup for = the 9003 Program.  I can create a yearly consolidation of those = months if you wish.

 

Sincerely,

Phillip = Stack

 

From: Gryffin = <bm@gryffinpartners.com>
Sent: Thursday, April 6, 2023 = 2:10 PM
To: Phillip Stack = <pstack@aicenergycorp.com>
Cc: = directory@aicenergycorp.com; John Melk <jmelk06@icloud.com>; = Smelk@aicenergycorp.com; John Lee = <jlee@aicenergycorp.com>
Subject: Re: Answers to Recent = Questions - proforma model

 

Hello = Phillip, 

 

Follow up questions on the = model:

1. How did you = account for depreciation? In particular = MACRS?

2. Do you have a = DSCR table of tab?

3. =  The Income Statement tab is monthly until year 2028 (column BO). = Is there a reason for that? Maybe best to have it yearly = throughout?

 

Thank you. 

 

Regards, 

Bill. 

 

-- 

Bill Mann

 

Gryffin Partners, Inc.

1055 West Georgia St., Suite = 2100,

Vancouver, BC, = Canada V6E 3P3

 

Tel: 604-269-0860


bm@gryffinpartners.com

 

 

 

 

 

IMPORTANT NOTICE: This email and any attachments to it = are confidential

and are = intended solely for the use of the individual(s) to whom it = is

addressed. The message = may contain information that is legally = privileged.

Please do not = read, copy, forward or store this message unless you are = the

intended recipient of = it. If you have received this message in = error,

please inform and = forward it to the sender and delete it completely = from

your computer system. = Any views or opinions expressed are solely those = of

the author and do not = necessarily represent those of the = firm.



On Mar 30, 2023, at 2:21 PM, pstack@aicenergycorp.com = wrote:

 

Hi = Bill,

 

I = adjusted the attached model to reflect the numbers from the = accountant.

 

Please let me know if you have any = questions.

 

Sincerely,

Phillip Stack

 

From: Gryffin <bm@gryffinpartners.com> 
Sent: Wednesday, March 29, 2023 = 9:31 PM
To: Phillip Stack <pstack@aicenergycorp.com>=
Cc: directory@aicenergycorp.com; John Melk <jmelk06@icloud.com>; Smelk@aicenergycorp.com; = John Lee <jlee@aicenergycorp.com>
= Subject: Re: = Answers to Recent Questions

 

Hello Phillip, 

 

Thank you for the explanation and the document, very = much appreciated. 

 

Yes, it would be helpful if could make the adjustment = and run the model. 

 

Regards, 

Bill. 

 

-- 

Bill Mann

 

Gryffin Partners, = Inc.

1055 West = Georgia St., Suite 2100,

Vancouver, BC, Canada V6E = 3P3

 

Tel: 604-269-0860


bm@gryffinpartners.com

<= /div>

 

 

 

 

 

IMPORTANT NOTICE: This email and any attachments to it = are confidential

and are intended solely for the use of the = individual(s) to whom it is

addressed. The message may contain information that is = legally privileged.

Please do not read, copy, forward or store this = message unless you are the

intended recipient of it. If you have received this = message in error,

please inform and forward it to the sender and delete = it completely from

your computer system. Any views or opinions expressed = are solely those of

the author and do not necessarily represent those of = the firm.




On Mar 29, 2023, at 2:52 PM, <pstack@aicenergycorp.com> <pstack@aicenergycorp.com> = wrote:

 

Hi Bill,

 

The explanation for the G22 cell is attached.  = Essentially, the cell considered the conditional stock subscriptions, = but I can certainly set it to the total existing equity value and rerun = the model.  The difference between the current value in the cell = and the total existing equity value would end up being covered by a loan = in the model.

 

Please let me know if you would like me to rerun the = model.

 

Also, attached is the shareholder breakdown, which you = requested from John Lee.

 

Sincerely,

Phillip Stack

 

<Cell G22 Explaination.pdf><AIC 12.31.22 = Compilation Report with Accountant's Report.pdf><Stockholder = Breakdown.pdf>

 

<Financial Model Rev 6 GP = V3.xlsm>

 

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