New York: Jon Lewis, chairman and Chief Executive Officer of Onis Design Group, announced today at a press conference in the company’s midtown offices the appointment of Gregory Earls as one of its key executives.

1. GREGORY EARLS PREPARES TO ISSUE SOCIAL IMPACT BONDS
PRESS RELEASE
NEW YORK FEBRUARY 20, 2014
New York: Gregory Earls plans to form a 501 3(C) (Not-For-Profit) that he calls
Fresh Start (FS). FS will seek to dramatically reduce the recidivism rate (the
frequency that convicted felons re-offend) on a national basis. FS will work closely
with and guide newly released federal inmates in planning and executing a Release
Plan that insures that they renew their lives effectively and do not return to prison.
The FS Plan will include an intense orientation program that includes job skills
training, educational opportunities, employment counseling, family reunification
guidance, and other transition needs.
To fund this national effort FS will not seek nor expect any tax dollars or
government subsidies but instead will issue what Earls calls Reformation Bonds.
FS will issue what are more commonly called Social Impact Bonds. FS will undertake
its programs to reduce the recidivism rate with no burden to the Bureau of Prisons
or the Department of Justice. Earls will seek to have philanthropists and investors
purchase the bonds. FS plans to issue $100 M in Zero Coupon Bonds.
To repay the bonds and to replenish the FS operations the company will ask the
Department of Justice to remit 50% of the budget savings that accrue as a result of
the reduction of the recidivism rate. If there is no decrease in the rate that released
inmates re-offend then no reimbursement is due and payable.
Earls plans to launch Fresh Start this summer.