Black Swan Advisors - Black Swan Liquidity Fund 1


ARIZONA MARICOPA CALIFORNIA LOS ANGELES ORANGE RIVERSIDE SAN BERNARDINO SAN DIEGO VENTURA NEVADA CLARK OREGON WASHINGTON PROPRIETARY HOMEBUILDER REPORTS CURRENT HOUSING MARKET RESEARCH BUSINESS PLAN OBJECTIVES CAPITALIZATION ORGANIZATION MEMBERSHIP DISCLOSURE MANAGEMENT
	Capitalization BSLF 1 will have a maximum Members Interests of $25 million, with maximum leverage of $10 million. Member’s interests will have a minimum of $15 million, as provided for in the Operating Agreement. Members will receive a cumulative 8% preferred return on their investment. Following the payment of all preferred returns, profits will be allocated 70% to investors and 30% to the Manager. When all Members capital has been returned, profits will be allocated 60% to Members and 40% to the manager. Other than providing for working capital, all earnings will be distributed each year.