Inter Office Memo

interoffice memorandum

to: | Jane Foster, Accounting manager |

from: | Brian Cruise, P. R. Director |

subject: | CFO Resignation |

date: | July 26, 2016 |

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After seven years as our Chief Financial Officer William Housel, has resigned suddenly without notice or explanation, in the middle of an SEC investigation that Freeman Financial is currently undergoing. At this time it is extremely critical that we speak swiftly yet accurately about the state of affairs with the company. Since we are a publically traded company we must keep both internal and external stakeholders abreast of the changes as they occur.

As the investigation progresses, it is imperative that we submit all documentation request in a timely manner. We want to be cooperative and transparent in all of our dealings with the SEC. It is my suggestion to appoint Halima Fajari as the interim CFO during this time. Ms. Fajari has an extensive knowledge of accounting standards and practices and she is very capable of putting together a team of people who can field information and answer questions the investigators may request along the way.

An immediate press release addressing the current situation is the best way to proceed. The public needs to know that Housel may be gone, but that Fajari is the best person for the task at hand. The public needs to hear from Freeman Financial that we are aware of the issues and that they are being handled in a careful and considerate manner. It is important that we as an organization be fully responsible for the pipeline of information that flows from within to the media outlets concerning the change in CFO status, and the accuracy of our financial transactions. As a financial service organization we have a legal mandate to comply with this investigation and make the public aware of the progress at each stage of development.

Time is of the essence and as first responders we are in a position to make sure that the information submitted in the...