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Re: Manhattan Club Lawsuit (by John C.):

Hi

An estimate of the number of weekly unit equivalents not paying maintenance fee can be estimates as per below:

Reserve for Bad Debt per Schedule B of 2018 $7,000,000 (it has grown from $2 million a few years ago)

Weighted average of 1 week maintenance fee = $2,500 per equivalent weekly unit

Therefore number not paying = $7,000,000 / $2,500 = 2800 apprx. not people but units remember we have 1/2 weeks, alternated year owners etc.

Weighted average Number of Full Weeks 15392 per budget Estimated leaving 2800

Remaining weeks 12592 Lost Rev $7,000,000 Increased Cost per weekly equivalent unit $554.48 rough estimate say round to $500

Not chump change as it used to be 3-5 years ago

John