1. What portion of assets are finance with debt and what portion with equity? What difference does it make? Does it matter that Liabilities are higher than Assets and equity is negative?

2. Based on your estimation, do we have enough cash and cash equivalents to pay off our current liabilities? Would you advise eliminating the loyalty program or is it better to keep some liabilities? If we have more than enough cash and cash equivalents, what percentage of long-term debts, if any, can we pay?

3. Which balance sheet account(s) on our 10-K report, in your estimation, should we consider to reduce our long-term debt, and why? Management has chosen to make investments in other entities such as loans to hotel owners, and funding employee benefit plans. Management considers these to be wise and necessary for growth.

Account name (03/021-1 (021011-1 (201712016)-1 2017 Q2 2017 10-K 2016T0-K 16 to 2017 33249% Notes receivable.net of alowance Notes reoeivable. net of alowance 402.933 * Property andequipment, at cost. ne Property and equipment, at cost, ne Notes reoovable, net of alowancos Investmenks, emplayee beneft plans, afair valuc Notes raooivablo, not of alowancos Investments, employee benetplans, tfair value t Investments in unocnsoidated enttics * 947.973 927.607* 2017 03 2017 Q2 2016 10-K LIABILITIES AND SHAREHOLDERS EQUIT LIABILITIES AND SHAREHOLDERS EQUIT Aocrued enpenses and other current liabilties$ Current potion of ong-term deb Total current liabilities Accrued enpenses and oter current labies Current portion of long-term debt Total current liabilities 273,034 * Dofotrad compensaion and rotiromerk planobig: Dofarrod oompansstion androtirement planobig: able 1.161,572 t t1.139.709 1.163,817 Commitments and Contingencies Accumulated ather comprohensiue loss (1,066,315) Aocumulated ather comprohansvo loss (1070,383) (200,380) $ Total shareholders equity 1212,102) t Total liabilities and shareholders equity t Total liabilities and shareholders equity *