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Enron Mail |
Tracy and Michael,
Here's the revised budget. Michael, please assess the timing of capital draw downs (eg, quarterly spends) against the IBIT target to make sure we have synchronized estimates. I assume that capital drawn down during Q1 would require 4/4ths of IBIT requirement, Q2 would require 3/4ths of IBIT requirement, etc. The current numbers indicate all capital would be drawn down in Q1, which is not the case.
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