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Kind Regards,
John Scurci
Partner and Chief Investment Officer
Corona Associates Capital Management, LLC
1 Legal Disclaimer - Attention: The information contained herein is confidential and is intended
solely for the use of the intended recipient. Access, copying, distribution or re-use of this letter
by any other person is not authorized. If you are not the intended recipient please advise the
sender immediately and destroy all copies of this letter. Nothing presented herein should be
deemed to constitute a recommendation or an offer to sell any investment product. This letter
contains forward looking statements, as defined by SEC Regulation D, and the Investment Act
of 1940, which are the original ideas and best judgments of the authors. The conclusions
expressed herein are not guaranteed, and past performance is not predictive of future results.
Circular 230 Notice: Any written advice provided herein (and in any attachments) is not
intended or written to be used, and cannot be used, to avoid any penalty under the Internal
Revenue Code or to promote, market, or recommend to anyone, a transaction or matter
addressed.