��������

Mr. Friedman is the founder and managing member of REF Securities & Co. (“REF”), a private investment firm. Mr. Friedman and REF currently own approximately 13% of the common stock of the Company. REF also is the holder of $100,000 of the subordinated promissory notes issued by the Company in December 2013 and 20,000 warrants to purchase common stock. REF has been principally engaged in investing in public and private equities and derivatives since 1991. Prior to founding REF, Mr. Friedman was employed as an option trader at O’Connor and Associates, a market maker on the American Stock Exchange. Mr. Friedman received a Bachelor of Science in Finance from NYU Stern School of Business.