<SEC-DOCUMENT>0001299933-17-001162.txt : 20171115
<SEC-HEADER>0001299933-17-001162.hdr.sgml : 20171115
<ACCEPTANCE-DATETIME>20171115161423
ACCESSION NUMBER:		0001299933-17-001162
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20171108
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171115
DATE AS OF CHANGE:		20171115

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Cogint, Inc.
		CENTRAL INDEX KEY:			0001460329
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				770688094
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37893
		FILM NUMBER:		171205346

	BUSINESS ADDRESS:	
		STREET 1:		2650 NORTH MILITARY TRAIL
		STREET 2:		SUITE 300
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33431
		BUSINESS PHONE:		5617574000

	MAIL ADDRESS:	
		STREET 1:		2650 NORTH MILITARY TRAIL
		STREET 2:		SUITE 300
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33431

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IDI, Inc.
		DATE OF NAME CHANGE:	20150520

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Tiger Media, Inc.
		DATE OF NAME CHANGE:	20121231

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Searchmedia Holdings Ltd
		DATE OF NAME CHANGE:	20091104
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>htm_55573.htm
<DESCRIPTION>LIVE FILING
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<TITLE> Cogint, Inc. (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	November 8, 2017
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	Cogint, Inc.
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	(Exact name of registrant as specified in its charter)
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	Delaware
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	001-37893
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	77-0688094
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
	(Commission
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	(I.R.S. Employer
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	of incorporation)
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	File Number)
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	Identification No.)
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	2650 North Military Trail, Suite 300, Boca Raton, Florida
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	33431
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_________________________________<BR>
	(Address of principal executive offices)
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___________<BR>
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	Registrant&#146;s telephone number, including area code:
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	561-757-4000
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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Check the appropriate box below if the Form 8-K filing is intended to
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[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</FONT>
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Emerging growth company [&nbsp;&nbsp;]<br>
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [&nbsp;&nbsp;]<br>
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    <TD width="18%">&nbsp;</TD>
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    <TD width="5%">&nbsp;</TD>
    <TD width="69%">&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-size: 11pt"><B>Item&nbsp;2.02.</B></FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-size: 11pt">&nbsp;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-size: 11pt"><B>Results of Operations and Financial Condition.</B></FONT></TD>
</TR>
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</DIV>


<P align="left" style="font-size: 11pt"><FONT style="font-size: 12pt">On November&nbsp;8, 2017, Cogint, Inc., a Delaware corporation (the &#147;Company&#148;) issued a press
release announcing its financial results for the 2017 third quarter ended September&nbsp;30, 2017. The
press release is furnished herewith as Exhibit&nbsp;99.1.
</FONT>

<P align="left" style="font-size: 12pt">Also on November&nbsp;8, 2017, following the issuance of the press release referred to above, the
Company conducted a conference call to discuss the reported financial results. The Company had
issued a press release on October&nbsp;31, 2017 to announce the scheduling of the conference call. The
transcript of the conference call is furnished herewith as Exhibit&nbsp;99.2.


<P align="left" style="font-size: 12pt">The information included herein and in Exhibit&nbsp;99.1 and Exhibit&nbsp;99.2 shall not be deemed &#147;filed&#148;
for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934 (&#147;Exchange Act&#148;) or otherwise
subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any
filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by
specific reference in such filing.

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-size: 11pt"><B>Item&nbsp;9.01</B></FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-size: 11pt">&nbsp;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-size: 11pt"><B>Financial Statements and Exhibits.</B></FONT></TD>
</TR>
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<P align="left" style="font-size: 11pt">(d)&nbsp;Exhibits

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    <TD align="left" valign="top">Exhibit&nbsp;No.
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Description</DIV></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
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    <TD align="left" valign="top">99.1<BR>
99.2
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Press release, dated November&nbsp;8, 2017.<BR>
Transcript of conference call held on November&nbsp;8, 2017</DIV></TD>
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	Exhibit&nbsp;Index
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	Exhibit No.
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	99.1
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	&nbsp;
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<A HREF="exhibit1.htm" >
Press Release dated November 8, 2017
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	99.2
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	&nbsp;
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<A HREF="exhibit2.htm" >
Transcript of conference call held on November 8, 2017
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	SIGNATURES
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	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
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	Cogint, Inc.
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	&nbsp;&nbsp;
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<I>
	November 15, 2017
</I>
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	&nbsp;
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<I>
	By:
</I>
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	&nbsp;
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<I>
	/s/ Derek Dubner
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<I>
	Name: Derek Dubner
</I>
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<I>
	Title: CEO
</I>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EX-99.1
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 16pt"><B>Exhibit&nbsp;99.1</B>
</FONT>

<P align="center" style="font-size: 16pt"><B>cogint Announces Third Quarter 2017 Financial Results</B>



<P align="center" style="font-size: 16pt"><FONT style="font-size: 11pt"><B>Record Revenue and Record Gross Profit on Double-Digit Gross Margin Expansion<BR>
as Company Progresses Towards Transformative Business Combination With BlueFocus International,<BR>
Spin-Off of Data and Analytics Company and Cash Dividend</B></FONT>



<P align="left" style="font-size: 11pt"><B>BOCA RATON, FL &#150; November&nbsp;8, 2017 </B>&#150; Cogint, Inc. (NASDAQ: COGT), a leading provider of information
and performance marketing solutions, today announced financial results for the quarter ended
September&nbsp;30, 2017.


<P align="left" style="font-size: 11pt">&#147;I&#146;m very excited about our third quarter accomplishments. We worked tirelessly throughout the
quarter to both negotiate and consummate our definitive transaction agreement with BlueFocus
International and drive initiatives in our core businesses that create enormous value for our
shareholders,&#148; stated Derek Dubner, cogint&#146;s CEO. &#147;Notwithstanding the negative impact our
business experienced from the hurricanes, we delivered record revenue of $57.2&nbsp;million, up 10%
versus third quarter of 2016, a dedicated focus on margin expansion resulting in gross profit
margin of 34%, a 10&nbsp;percentage point increase, and Adjusted EBITDA of $5.8&nbsp;million, up 84%.&#148;


<P align="left" style="font-size: 11pt"><B>Third Quarter 2017 Financial Results</B>


<P align="left" style="font-size: 11pt">For the three months ended September&nbsp;30, 2017, as compared to the three months ended September&nbsp;30,
2016:



<P align="left" style="margin-left:2%; font-size: 11pt">-Total revenue increased 10% to $57.2&nbsp;million.



<P align="left" style="margin-left:2%; font-size: 11pt">-Information Services revenue increased 54% to $22.8&nbsp;million.



<P align="left" style="margin-left:2%; font-size: 11pt">-Information Services gross profit increased 182% to $10.1&nbsp;million, a 44% gross profit margin.



<P align="left" style="margin-left:2%; font-size: 11pt">-Performance Marketing revenue decreased 8% to $34.4&nbsp;million.



<P align="left" style="margin-left:2%; font-size: 11pt">-Performance Marketing gross profit increased 6% to $9.5&nbsp;million, a 28% gross profit margin.



<P align="left" style="margin-left:2%; font-size: 11pt">-Consolidated gross profit margin increased 10&nbsp;percentage points to 34%.



<P align="left" style="margin-left:2%; font-size: 11pt">-Net loss was $14.1&nbsp;million (inclusive of tax benefit of $0&nbsp;million) compared to $9.7&nbsp;million
(inclusive of tax benefit of $4.5&nbsp;million).



<P align="left" style="margin-left:2%; font-size: 11pt">-Adjusted EBITDA grew 84% to $5.8&nbsp;million.


<P align="left" style="font-size: 11pt"><B>Third Quarter 2017 and Recent Business Highlights</B>



<P align="left" style="margin-left:2%; font-size: 11pt">-Entered into a business combination agreement with BlueFocus International, creating a
world-class global marketing services company, with BlueFocus paying or refinancing cogint&#146;s
existing debt upon closing and contributing to cogint $100.0&nbsp;million in cash, Canadian-based
marketing communications company Vision7 International, and U.K.-based global socially-led
creative agency We Are Social.



<P align="left" style="margin-left:2%; font-size: 11pt">-Leveraged the cross-functionality of our intelligent platforms, CORE&#153; and Agile Audience
Engine&#153;, to create a comprehensive marketing services solution for Fortune 500 consumer packaged
goods companies, increasing client ROI while expanding our margin.



<P align="left" style="margin-left:2%; font-size: 11pt">-Continued scale of our Custom Audience Identity Graph, enabling more intelligent execution of
our marketing solutions across a variety of verticals.



<P align="left" style="margin-left:2%; font-size: 11pt">-Generated on average over 850,000 consumer registrations and over 8.8&nbsp;million compiled survey
responses daily, with a recent record high of over 1.0&nbsp;million registrations and over 10.3
million compiled survey responses in a single day.



<P align="left" style="margin-left:2%; font-size: 11pt">-After successful launch of Mobile App Install product offering and Pay Per Call ad format in
2016, revenue for these offerings continues to scale with $5.5&nbsp;million and $1.9&nbsp;million,
respectively, for the third quarter 2017.



<P align="left" style="margin-left:2%; font-size: 11pt">-Powered by our proprietary CORE&#153; data fusion platform, launched FOREWARN&#153;, a real-time
information solution, via mobile application, for the real estate industry, providing risk
assessment and due diligence.



<P align="left" style="margin-left:2%; font-size: 11pt">-Released the Comprehensive Report, an idiCORE&#153; offering, to the risk management industry,
addressing our clients&#146; needs in delivering the most essential tool in their risk mitigation
arsenal.


<P align="left" style="font-size: 11pt"><B>Use of Non-GAAP Financial Measures</B>


<P align="left" style="font-size: 11pt">Management evaluates the financial performance of our business on a variety of key indicators,
including adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure equal to net loss, the
most directly comparable financial measure based on US GAAP, adding back interest expense, income
tax benefit, depreciation and amortization, share-based payments, non-recurring legal and
litigation costs, acquisition and restructuring costs, write-off of long-lived assets, and other
adjustments.


<P align="left" style="font-size: 11pt"><B>Conference Call</B>


<P align="left" style="font-size: 11pt">Cogint, Inc. will host a conference call on Wednesday, November&nbsp;8, 2017 at 4:30 PM ET to discuss
its 2017 third quarter financial results. To listen to the conference call on your telephone,
please dial (866)&nbsp;270-1533 for domestic callers or (412)&nbsp;317-0797 for international callers. To
access the live audio webcast, visit the cogint website at <U>www.cogint.com</U>. Please login at
least 15 minutes prior to the start of the call to ensure adequate time for any downloads that may
be required. Following completion of the earnings call, a recorded replay of the webcast will be
available for those unable to participate. To listen to the telephone replay, please dial (877)
344-7529 or (412)&nbsp;317-0088 with the replay passcode 10113551. The replay will also be available
for one week on the cogint website at <U>www.cogint.com</U>.


<P align="left" style="font-size: 11pt"><B>About cogint&#153;</B>


<P align="left" style="font-size: 11pt">At cogint, we believe that time is your most valuable asset. Through powerful analytics, we
transform data into intelligence, in a fast and efficient manner, so that our clients can spend
their time on what matters most &#150; running their organizations with confidence. Through
leading-edge, proprietary technology and a massive data repository, our data and analytical
solutions harness the power of data fusion, uncovering the relevance of disparate data points and
converting them into comprehensive and insightful views of people, businesses, assets and their
interrelationships. We empower clients across markets and industries to better execute all aspects
of their business, from managing risk, conducting investigations, identifying fraud and abuse, and
collecting debts, to identifying and acquiring new customers. At cogint, we are dedicated to making
the world a safer place, to reducing the cost of doing business, and to enhancing the consumer
experience.


<P align="left" style="font-size: 11pt"><B>RELATED LINKS: </B><U>http://www.cogint.com</U>


<P align="left" style="font-size: 11pt"><B>FORWARD-LOOKING STATEMENTS</B>


<P align="left" style="font-size: 11pt">This press release contains &#147;forward-looking statements,&#148; as that term is defined under the Private
Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such
as &#147;expects,&#148; &#147;plans,&#148; &#147;projects,&#148; &#147;will,&#148; &#147;may,&#148; &#147;anticipate,&#148; &#147;believes,&#148; &#147;should,&#148; &#147;intends,&#148;
&#147;estimates,&#148; and other words of similar meaning. Such forward looking statements are subject to
risks and uncertainties that are often difficult to predict, are beyond our control and which may
cause results to differ materially from expectations. Readers are cautioned not to place undue
reliance on these forward-looking statements, which are based on our expectations as of the date of
this press release and speak only as of the date of this press release and are advised to consider
the factors listed above together with the additional factors under the heading &#147;Forward-Looking
Statements&#148; and &#147;Risk Factors&#148; in the Company&#146;s Annual Report on Form 10-K, as may be supplemented
or amended by the Company&#146;s Quarterly Reports on Form 10-Q and other SEC filings. We undertake no
obligation to publicly update or revise any forward-looking statement, whether as a result of new
information, future events or otherwise, except as required by law.


<P align="center" style="font-size: 11pt"><FONT style="font-size: 10pt"><B>COGINT, INC.<BR>
CONDENSED CONSOLIDATED BALANCE SHEETS<BR>
(Amounts in thousands, except share data)</B></FONT>


<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="70%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="11" style="border-bottom: 1px solid #000000"><B>(unaudited)</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>September 30,&nbsp;2017</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>December 31,&nbsp;2016</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD><FONT style="font-size: 10pt"><B>ASSETS:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B></FONT><FONT style="font-size: 10pt"></B>&nbsp;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="center" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD style="border-top: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="center" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Current assets:</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Cash and cash equivalents</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">10,323</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">10,089</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Accounts receivable, net of allowance for doubtful accounts of $2,401 and $790
at September&nbsp;30, 2017 and December&nbsp;31,&nbsp;2016, respectively</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">37,148</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">30,958</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Prepaid expenses and other current assets</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">2,315</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">2,053</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Total current assets</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">49,786</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">43,100</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Property and equipment, net</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">1,899</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">1,350</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Intangible assets, net</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">91,554</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">98,531</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Goodwill</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">166,256</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">166,256</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Other non-current assets</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">2,425</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">2,674</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Total assets</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>311,920</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>311,911</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><FONT style="font-size: 10pt"><B>LIABILITIES&nbsp;AND SHAREHOLDERS&#146; EQUITY:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="center" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD style="border-top: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="center" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Current liabilities:</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Trade accounts payable</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">12,400</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">14,725</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Accrued expenses and other current liabilities</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">15,622</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">6,981</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Deferred revenue</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">444</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">318</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Current portion of long-term debt</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">2,750</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">4,135</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Total current liabilities</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">31,216</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">26,159</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Promissory notes payable to certain shareholders, net</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">10,543</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">10,748</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Long-term debt, net</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">49,555</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">35,130</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Acquisition consideration payable in stock</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">10,225</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">10,225</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Total liabilities</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>101,539</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>82,262</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Shareholders&#146; equity:</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Series&nbsp;A preferred stock&#151;$0.0001 par value, 10,000,000 shares authorized;
0 share issued and outstanding at September&nbsp;30, 2017 and December&nbsp;31, 2016</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Series&nbsp;B preferred stock&#151;$0.0001 par value, 10,000,000 shares authorized;
0 share issued and outstanding at September&nbsp;30, 2017 and December&nbsp;31, 2016</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Common stock&#151;$0.0005 par value, 200,000,000 shares authorized; 56,418,136
and 53,717,996 shares issued at September&nbsp;30, 2017 and December&nbsp;31, 2016,
respectively; and 56,065,613 and 53,557,761 shares outstanding at September&nbsp;30,
2017 and December&nbsp;31, 2016, respectively</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">28</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">27</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Treasury stock, at cost, 352,523 and 160,235 shares at September&nbsp;30, 2017 and
December&nbsp;31, 2016, respectively</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(1,274</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(531</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Additional paid-in capital</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">373,087</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">344,384</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Accumulated deficit</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(161,460</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(114,231</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Total shareholders&#146; equity</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">210,381</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">229,649</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Total liabilities and shareholders&#146; equity</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>311,920</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>311,911</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt; display: none">1
<!-- PAGEBREAK -->


<P align="center" style="font-size: 10pt"><B>COGINT, INC.<BR>
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS<BR>
(Amounts in thousands, except share data)<BR>
(unaudited)</B>


<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="11" style="border-bottom: 1px solid #000000"><B>Three Months Ended September 30,</B></TD>
    <TD nowrap align="center" colspan="15" style="border-bottom: 1px solid #000000"><B>Nine Months Ended September 30,</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2017</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>2016 2017</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>2016</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 8pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Revenue</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">57,248</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">52,176</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">161,038</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">132,643</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Cost of revenues (exclusive of depreciation and
amortization)</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">37,687</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">39,658</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">109,509</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">97,709</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Gross profit</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>19,561</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>12,518</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>51,529</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>34,934</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Operating expenses:</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Sales and marketing expenses</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">6,280</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">3,699</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">16,636</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">10,004</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">General and administrative expenses</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">21,365</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">13,614</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">60,938</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">40,148</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Depreciation and amortization</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">3,585</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">3,507</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">10,460</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">9,112</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Write-off of long-lived assets</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">4,055</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">3,626</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">4,055</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Total operating expenses</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>31,230</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>24,875</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>91,660</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>63,319</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Loss from operations</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(11,669</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(12,357</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(40,131</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(28,385</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Other income (expense):</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Interest expense, net</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(2,426</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(1,880</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(7,098</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(5,561</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Other expenses, net</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(1,273</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Total other expense</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(2,426</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(1,880</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(7,098</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(6,834</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Loss before income taxes</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(14,095</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(14,237</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(47,229</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(35,219</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Income taxes</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>&#151;</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(4,493</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>&#151;</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(11,519</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Net loss</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(14,095</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(9,744</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(47,229</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(23,700</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Loss per share:</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Basic and diluted</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(0.25</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(0.19</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(0.86</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(0.56</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Weighted average number of shares outstanding:</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Basic and diluted</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">55,390,247</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">50,654,690</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">54,665,776</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">42,100,504</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Comprehensive loss:</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Net comprehensive loss</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(14,095</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(9,744</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(47,229</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(23,700</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt; display: none">2
<!-- PAGEBREAK -->


<P align="center" style="font-size: 10pt"><B>COGINT, INC.<BR>
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<BR>
(Amounts in thousands, except share data)<BR>
(unaudited)</B>


<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="74%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="11" style="border-bottom: 1px solid #000000"><B>Nine Months Ended September 30,</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2017</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2016</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 8pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">CASH FLOWS FROM OPERATING ACTIVITIES:</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Net loss</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(47,229</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(23,700</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Adjustments to reconcile net loss to net cash (used in) provided by operating
activities:</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Depreciation and amortization</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">10,460</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">9,112</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Non-cash interest expenses and related amortization</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">2,268</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">1,839</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Share-based compensation expense</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">27,702</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">21,941</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Non-cash loss on exchange of warrants</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">1,273</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Write-off of long-lived assets</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">3,626</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">4,055</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Provision for bad debts</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">2,352</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">666</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Deferred income tax benefit</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(11,561</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Changes in assets and liabilities:</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Accounts receivable</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(8,542</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(3,301</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Prepaid expenses and other current assets</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(262</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">545</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Other non-current assets</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">249</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(549</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Trade accounts payable</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(2,325</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">5,027</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Accrued expenses and other current liabilities</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">8,641</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(533</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Deferred revenue</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">126</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(428</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Net cash (used in) provided by operating activities</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(2,934</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">4,386</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">CASH FLOWS FROM INVESTING ACTIVITIES:</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Purchase of property and equipment</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(1,144</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(722</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Capitalized costs included in intangible assets</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(5,512</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(7,980</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Acquisition, net of cash acquired</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(50</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Deposits as collateral</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(750</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Net cash used in investing activities</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(6,656</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(9,502</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">CASH FLOWS FROM FINANCING ACTIVITIES:</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Proceeds from issuance of shares, net of issuance costs</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">4,724</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Proceeds for debt obligations, net of debt costs</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">14,039</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(682</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Repayments of long-term debt</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(3,472</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(1,688</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Taxes paid related to net share settlement of vesting of restricted stock units</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(743</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(305</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Net cash provided by financing activities</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">9,824</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">2,049</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Net increase (decrease)&nbsp;in cash and cash equivalents</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>234</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(3,067</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Cash and cash equivalents at beginning of period</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">10,089</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">13,462</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Cash and cash equivalents at end of period</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>10,323</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>10,395</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">SUPPLEMENTAL DISCLOSURE INFORMATION</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Cash paid for interest</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">4,940</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">3,795</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Cash paid for income taxes</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Share-based compensation expense capitalized in intangible assets</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">1,002</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">868</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Issuance of common stock to a vendor for services rendered</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">146</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Fair value of acquisition consideration</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">21,206</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Warrants issued in relation to the term loan</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt">$</FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">492</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt; display: none">3
<!-- PAGEBREAK -->


<P align="left" style="font-size: 10pt"><B>Use and Reconciliation of Non-GAAP Financial Measures</B>


<P align="left" style="font-size: 10pt">Management evaluates the financial performance of our business on a variety of key indicators,
including adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure equal to net loss, the
most directly comparable financial measure based on US GAAP, adding back interest expense, income
tax benefit, depreciation and amortization, share-based compensation expense, non-recurring legal
and litigation costs, acquisition and restructuring costs, write-off of long-lived assets, and
other adjustments, as noted in the tables below.

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="11" style="border-bottom: 1px solid #000000"><B>Three Months Ended September 30,</B></TD>
    <TD nowrap align="center" colspan="15" style="border-bottom: 1px solid #000000"><B>Nine Months Ended September 30,</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>(In thousands)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2017</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>2016 2017</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>2016</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 8pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Net loss</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(14,095</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(9,744</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(47,229</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD><FONT style="font-size: 10pt"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>(23,700</B></FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt"><B>)</B></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Interest expense, net</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">2,426</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">1,880</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">7,098</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">5,561</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Income tax benefit</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(4,493</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">(11,519</FONT></TD>
    <TD nowrap><FONT style="font-size: 10pt">)</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Depreciation and amortization</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">3,585</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">3,507</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">10,460</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">9,112</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Share-based compensation expense</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">11,071</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">7,318</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">27,702</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">21,941</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Non-recurring legal and litigation costs</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">340</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">633</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">9,170</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">1,493</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Acquisition and restructuring costs</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">2,474</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">4,792</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">431</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Write-off of long-lived assets</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">4,055</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">3,626</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">4,055</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt">Non-cash loss on exchange of warrants</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">&#151;</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt">1,273</FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT style="font-size: 10pt"><B>Adjusted EBITDA</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>5,801</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>3,156</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>15,619</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>$</B></FONT></TD>
    <TD align="right"><FONT style="font-size: 10pt"><B>8,647</B></FONT></TD>
    <TD><FONT style="font-size: 10pt"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">We present adjusted EBITDA as a supplemental measure of our operating performance because we
believe it provides useful information to our investors as it eliminates the impact of certain
items that we do not consider indicative of our cash operations and ongoing operating performance.
In addition, we use it as an integral part of our internal reporting to measure the performance of
our reportable segments, evaluate the performance of our senior management and measure the
operating strength of our business.


<P align="left" style="font-size: 10pt">Adjusted EBITDA is a measure frequently used by securities analysts, investors and other interested
parties in their evaluation of the operating performance of companies similar to ours and is an
indicator of the operational strength of our business. Adjusted EBITDA eliminates the uneven effect
across all reportable segments of considerable amounts of non-cash depreciation and amortization,
share-based payments and write-off of long-lived assets.


<P align="left" style="font-size: 10pt">Adjusted EBITDA is not intended to be a performance measure that should be regarded as an
alternative to, or more meaningful than, either operating income or net income as indicators of
operating performance or to cash flows from operating activities as a measure of liquidity. The way
we measure adjusted EBITDA may not be comparable to similarly titled measures presented by other
companies, and may not be identical to corresponding measures used in our various agreements.


<P align="left" style="font-size: 10pt"><B>Contact Information:&nbsp;</B>


<P align="left" style="font-size: 10pt"><FONT style="font-size: 11pt">Media and Investor Relations Contact:
<BR>
Cogint, Inc.
<BR>
Jordyn Kopin
<BR>
Director, Investor Relations
<BR>
646-356-8469
<BR>
JKopin@cogint.com
</FONT>


<P align="center" style="font-size: 10pt; display: none">4




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<P align="left" style="font-size: 10pt"><FONT style="font-size: 10pt"><B>Exhibit&nbsp;99.2</B>
</FONT>

<P align="center" style="font-size: 10pt"><B>Cogint, Inc. Q3 2017 Earnings Call<BR>
November&nbsp;8, 2017</B>



<P align="left" style="font-size: 10pt"><B>C O R P O R A T E P A R T I C I P A N T S</B>


<P align="left" style="font-size: 10pt"><B>Derek Dubner, </B><I>Chief Executive Officer</I>


<P align="left" style="font-size: 10pt"><B>Dan MacLachlan, </B><I>Chief Financial Officer</I>


<P align="left" style="font-size: 10pt"><B>Jordyn Kopin, </B><I>Director, Investor Relations</I>


<P align="left" style="font-size: 10pt"><B>C O N F E R E N C E C A L L P A R T I C I P A N T S</B>


<P align="left" style="font-size: 10pt"><B>Jim McILree, </B><I>Chardan Capital</I>


<P align="left" style="font-size: 10pt"><B>Jim Goss, </B><I>Barrington Research</I>


<P align="left" style="font-size: 10pt"><B>P R E S E N T A T I O N</B>


<P align="left" style="font-size: 10pt"><B>Operator:</B>


<P align="left" style="font-size: 10pt">Good day, ladies and gentlemen, and welcome to cogint&#146;s Third Quarter 2017 Earnings Conference
Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question
and answer session and instructions will follow at that time. If anyone should require Operator
assistance, please press star, then zero on your touchtone telephone. As a reminder, this call is
being recorded.


<P align="left" style="font-size: 10pt">I would now like to introduce your host for today&#146;s conference, Jordyn Kopin, Investor Relations.
Please go ahead.


<P align="left" style="font-size: 10pt"><B>Jordyn Kopin:</B>


<P align="left" style="font-size: 10pt">Good afternoon and welcome. Thank you for joining us to discuss our third quarter 2017 earnings
results. With me today are Derek Dubner, our Chief Executive Officer, and Dan MacLachlan, our Chief
Financial Officer. Our call today will begin with comments from Derek Dubner and Dan MacLachlan,
followed by a question and answer session.


<P align="left" style="font-size: 10pt">I would like to remind you that this call is being webcast live and recorded. A replay of the event
will be available following the call on our website. To access the webcast, please visit our
Investor Relations page on our website, www.cogint.com.


<P align="left" style="font-size: 10pt">Before we begin, I would like to advise listeners that certain information discussed by Management
during this conference call are forward-looking statements covered under the Safe Harbor provisions
of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially
from those stated or implied by our forward-looking statements due to risks and uncertainties
associated with the Company&#146;s business. The Company undertakes no obligation to update the
information provided on this call. For a discussion of risks and uncertainties associated with
Cogint&#146;s business, I encourage you to review the Company&#146;s filings with the Securities and Exchange
Commission, including the most recent Annual Report on Form 10-K and the subsequent 10-Q.


<P align="left" style="font-size: 10pt">During the call, we may also present certain non-GAAP financial information relating to Adjusted
EBITDA. Management evaluates the financial performance of our business on a variety of key
indicators, including Adjusted EBITDA. The definition of Adjusted EBITDA and the reconciliation to
the most directly comparable GAAP financial measure is provided in the earnings press release
issued earlier today.


<P align="left" style="font-size: 10pt">With that, I am pleased to introduce cogint&#146;s Chief Executive Officer, Derek Dubner.


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">Thank you, and good afternoon to those joining us today to discuss our third quarter results.
Cogint is pleased to report a very strong third quarter, with record revenues of $57.2&nbsp;million, a
10% increase over the third quarter 2016. Gross profit margin increased 10&nbsp;percentage points over
prior year to 34%, and Adjusted EBITDA increased 84% to $5.8&nbsp;million.


<P align="left" style="font-size: 10pt">We experienced continued strong, broad-based customer demand from existing and new products across
both our risk management and marketing services businesses. Our record revenues and achievements of
our set goal of very significant gross profit margin expansion is despite the unique non-recurring
challenges we experienced in the quarter. We were impacted by the hurricanes in Texas and Florida,
as these events affected not only traffic acquisition, but key customers. Of note, our ability to
target consumers in those key states was impacted by outages. As well, several key customers on the
marketing services side of the business with reliance on large call centers were impacted by not
only the reduction in work force in preparation for the storms, but also during and after the
storms, which caused these customers to pull back, impacting revenue. As well, senior management
across the businesses had to devote very significant time, effort and expense in negotiating and
consummating an agreement with BlueFocus International in regard to our transformational
transaction, which I will discuss in detail shortly. Notwithstanding these challenges, we still
posted strong numbers and I am very encouraged by Q4 pacing to date.


<P align="left" style="font-size: 10pt">Our Information Services segment revenue increased 54% to $22.8&nbsp;million. Information Services gross
profit increased 182% to $10.1&nbsp;million, a 44% gross profit margin. Our Performance Marketing
revenue decreased 8% to $34.4&nbsp;million, as we focused on higher quality revenue which delivers
greater margin. This is demonstrated by our Performance Marketing gross profit increase of 6% to
$9.5&nbsp;million, a 28% gross profit margin. Consolidated gross profit margin increased 10&nbsp;percentage
points to 34%.


<P align="left" style="font-size: 10pt">Turning now to a few themes that we&#146;ve discussed in the past. During our last earnings call, I
reviewed our priorities for the second half of 2017, and beyond. Of those priorities, I detailed
our goal of leveraging our unique technology platforms and differentiated ability to aggregate data
through the creation of proprietary data both through analytics and real-time consumer interaction.
I stated our goal of using our competitive advantages to seamlessly introduce new products and
solutions to market that solve for the needs of our customers.


<P align="left" style="font-size: 10pt">On the marketing side of the business, if you have listened to competitor earnings calls, you&#146;ve
heard a familiar mantra&#151;success depends on knowing your customer and serving them intelligently.
These themes focus on gathering insights on consumers in real time and at massive scale. When I
hear this, it reinforces my confidence in our business as a whole and, specifically, our
initiatives. Our marketing services business is unmatched in gathering real-time insights at
massive scale.


<P align="left" style="font-size: 10pt">A great example of the leveragability of our unique platforms is our just announced release of
FOREWARN, powered by our CORE platform, which delivers real-time solutions, primarily via mobile
application, to the real estate industry. With the advancement of technology over the years, the
real estate industry has moved online, resulting in buyers relying less on agent representation and
contacting agents directly to view properties. Our research indicated a glaring vulnerability in
the industry. Agents have no idea who they are now alone with in a property. Agents have a right to
know who they are doing business with, and brokers are now able to reduce liability by making
FOREWARN available to their agents. With as little as single data point, for example, an incoming
phone number, agents can verify identity, evaluate risk by viewing the criminal history of a
subject, and validate financial and other information provided by the subject. In just 60&nbsp;days, we
developed and launched FOREWARN and the response has been nothing short of phenomenal, not only
from agents, but also real estate associations and non-profit organizations, who have struggled for
years to ensure agent safety. We&#146;ve received quick praise in the form of coverage by the New York
Post, CNBC, and other top media outlets.


<P align="left" style="font-size: 10pt">This is but one example of our ability to develop and commercialize products derived from our
technology platforms faster than others in the marketplace. We&#146;re excited to execute upon our
product line, delivering innovative solutions, such as FOREWARN, to address the needs of various
industries and our customers.


<P align="left" style="font-size: 10pt">As well, we are leveraging the cross-functionality of our intelligent platforms, CORE and Agile
Audience Engine, to create comprehensive marketing services solutions for Fortune 500 consumer
packaged goods companies. Today, we are increasing client ROI, while expanding our margins.


<P align="left" style="font-size: 10pt">We launched new technology to deliver content to audiences via push notifications, which generated
revenue of $586,000 this quarter. As well, we are now implementing several new content marketing
strategies to deploy across multiple addressable channels, including Facebook, Google and
ad-supported apps. Our team is dedicated to developing highly targeted and refined original content
to drive consumer interaction and to optimize ROI for our advertisers. Both video content and voice
ads are on our roadmap to be launched in Q1 of 2018.


<P align="left" style="font-size: 10pt">We continue to scale our Custom Audience Identity Graph, enabling more intelligent execution of our
marketing solutions across a variety of verticals. We are now generating, on average, over 850,000
consumer registrations and over 8.8&nbsp;million compiled survey responses daily, with a recent record
high of over 1&nbsp;million registrations and over 10.3&nbsp;million compiled survey responses in a single
day.


<P align="left" style="font-size: 10pt">Turning back to the risk management side of the business, we continue to execute on our robust
product roadmap. As we have stated in the past, and as we will continue to do so, idiCORE continues
to evolve with new data sets fused during the quarter and new functionality. We recently announced
the release of our Comprehensive Report, an idiCORE offering, and an essential tool in the Risk
management arsenal for our customers. We are receiving great feedback. As with many of our
offerings, this release was essential to further penetrate our markets and to get ourselves further
ingrained in the daily workflow of our customers. While I&#146;m excited about this release, I&#146;m even
more excited about the plan for this offering going forward. This offering alone has a dedicated
product roadmap, where we plan to transform this solution into a report the market has never seen.
At a more mature state, expect to see novel data points and data visualization unlike anything the
competition is offering today.


<P align="left" style="font-size: 10pt">On our last call, we discussed the formation of several strategic relationships with leading mobile
identity authentication and background screening solutions providers. As a reminder, our optimism
was premised upon the expansive markets that these providers serve, including banking, financial
services, insurance, healthcare and technology, and that we won these relationships from larger,
more established competitors. I am pleased to report that we have concluded testing and that these
integrations are now revenue generating, with great prospects for growth.


<P align="left" style="font-size: 10pt">Also, on our last earnings call, I emphasized a key primary initiative of increasing demand for our
custom data products, as these products generate our most profitable dollars, providing margin
expansion and little to no additional traffic acquisition costs, or TAC. We did exactly what we set
out to do this quarter. Despite leaders in the digital marketing space suffering higher TAC this
quarter, we delivered lower TAC as a percentage of gross revenue, as we continued to leverage our
Custom Audience Identity Graph more intelligently for the purposes of executing performance
marketing and consumer acquisition campaigns across a variety of verticals. In sum, we are highly
focused on the highest quality revenues, which delivers us greater margin. That is one reason you
see 44% margins in our Information Services segment.


<P align="left" style="font-size: 10pt">Notwithstanding our valiant performance since we started this Company, and the incredible Company
we built in just over two year&#146;s time, there are some who do not entirely understand the combined
assets of our Company, our innovative technology, the product suite, the product roadmap driven by
our unique and differentiated technology platforms, and the synergies that exist. As well, we
believe there to be certain investment mandates that impair an investor&#146;s ability to invest in one
or the other type of companies, whether the risk management business or digital marketing business.


<P align="left" style="font-size: 10pt">As a result, in September, we announced a transformative transaction, a business combination with
Silicon Valley-headquartered BlueFocus International. BlueFocus will contribute to cogint $100
million in cash, and its largest international assets, Canadian-based marketing communications
company, Vision 7 International, and U.K.-based, global, socially-led creative agency, We are
Social, with BlueFocus paying or refinancing cogint&#146;s existing debt upon closing. The transaction
values Fluent alone at $415&nbsp;million, a significant premium.


<P align="left" style="font-size: 10pt">Immediately prior to the closing, cogint will spin off its data and analytics operations and assets
into a new public company, expected to be listed on Nasdaq, named Red Violet. The shares of Red
Violet will be distributed to cogint shareholders as of a record to be determined as a stock
dividend upon closing of the transaction. The arrangements will result in Red Violet launching with
cash of a minimum of $20&nbsp;million and no debt.


<P align="left" style="font-size: 10pt">The current Management Team of cogint will be the Management Team of Red Violet, and Ryan Schulke
and Matt Conlin, current CEO and President of Fluent, respectively, will continue in those roles at
Fluent.


<P align="left" style="font-size: 10pt">Upon the closing, BlueFocus International will own 63% of the combined company on a fully diluted
basis and cogint shareholders of record will own 37% of the combined company. Cogint shareholders
of record will own 100% of the Red Violet. This transaction creates tremendous shareholder value,
in our view, as cogint shareholders of record will, upon closing, own shares in two publicly traded
companies and will receive a cash dividend of approximately $1.00 per share.


<P align="left" style="font-size: 10pt">As further benefits of this transaction:


<P align="left" style="font-size: 10pt">First, as mentioned, the transaction delivers a significant and immediate premium to our
shareholders, not only with the immediate value assigned to Fluent, but with greater value
certainty resulting from the combination of our digital marketing business with BlueFocus&#146;
marketing services companies, as compared to Fluent&#146;s standalone prospects.


<P align="left" style="font-size: 10pt">We believe this transaction will bring greater clarity to the marketplace as to each company&#146;s core
competencies, allowing each to compete more effectively within their respective markets.


<P align="left" style="font-size: 10pt">As our risk management and digital marketing businesses have distinct financial and operating
characteristics, the separation of the businesses will allow each to adopt strategies and pursue
objectives appropriate to their respective needs, to focus more exclusively on improving each
company&#146;s operations, and to enable the optimization of capital deployment and investment
strategies necessary to advance their respective compelling innovation roadmaps.
<BR>
This business combination creates a world-class global marketing services company. Our combination
with Vision 7 and We are Social is a transformative event for our digital marketing business, which
as been steadfastly focused on developing mobile-first, data-driven performance marketing solutions
for brands and marketers across a variety of verticals. Our new partner agencies, Vision 7 and We
are Social, create a framework to deliver a more holistic offering to the market, combining
best-in-class creative, brand strategy and global communications with Fluent&#146;s unique custom
audience development and performance-based marketing model.


<P align="left" style="font-size: 10pt">Prior to entering into this deal, it was on our 2018 roadmap to establish an international presence
for Fluent. This expansion would take significant time and resources. This transaction provides
Fluent the access to Chief Marketing Officers of leading brands around the world. The combined
businesses create a unique marketing services company delivering end-to-end solutions to the
world&#146;s leading brands, from creative to digital to performance marketing, key attributes of which
many leading companies possess one or the other, but none possessing all.


<P align="left" style="font-size: 10pt">Red Violet will be a pure-play data and analytics company, continuing its expansion within the risk
management industry. As I mentioned, it will have a minimum of $20&nbsp;million in cash and no debt.


<P align="left" style="font-size: 10pt">Thus, again, upon the closing of the transaction, our shareholders of record will be owners of two
public traded companies and will receive a cash dividend of approximately $1.00 per share.


<P align="left" style="font-size: 10pt">We are working through the various closing conditions. We have already secured majority shareholder
approval, and recently announced that the Federal Trade Commission granted early termination of the
waiting period under Hart-Scott-Rodino. We expect to file our Information Statement by November&nbsp;28,
2017. We are in the CFIUS process and will set a record date once that process is cleared. We
expect the transaction to close in the first quarter of 2018.


<P align="left" style="font-size: 10pt">Now, I&#146;ll turn it over to Dan to discuss the financials.


<P align="left" style="font-size: 10pt"><B>Dan MacLachlan:</B>


<P align="left" style="font-size: 10pt">Thank you, Derek, and good afternoon. This time last year, we talked about spending into some key
initiatives, seeing strong proof points within our business model that would allow us to continue
to leverage its scalability. At the end of 2016, we talked about the acceleration of our product
roadmap, the release of innovative new products driven by our technology platform, and the
increasing adoption of our solutions by customers across markets. What we have seen in 2017, and
particularly with our third quarter 2017 results, earning record revenue and record gross profit,
is the reaffirmation of the continued execution of our business model and market strategy, focusing
on those growth categories and clients that provide us the greatest opportunity for margin
expansion, and ultimately leading to bottom line profitability.


<P align="left" style="font-size: 10pt">We experienced a number of one-time, non-recurring expenses that impacted our P&L in 2017, in the
total amount of $17.6&nbsp;million, including $9.2&nbsp;million in non-recurring legal and litigation costs
and $8.4&nbsp;million in acquisition and restructurings costs. However, we remain intently focused on
driving the Company to bottom line profitability, and believe we are now well positioned to do
that. Our Information Services segment continues to scale, expanding our consolidated margin. Our
Performance Marketing segment continues to drive consistent growth across multiple verticals and
channels. We are well positioned for accelerated growth in the coming quarters at both the top and
bottom line.


<P align="left" style="font-size: 10pt">Moving on to our third quarter results, revenues were $57.2&nbsp;million, a 10% increase over third
quarter 2016, driven by strong growth within our Information Services segment. Adjusted EBITDA was
$5.8&nbsp;million, an 84% increase over third quarter 2016. Adjusted EBITDA margin expanded 400 basis
points to 10%, as compared to third quarter 2016.


<P align="left" style="font-size: 10pt">Continuing to the details of our P&L, as mentioned, revenues were $57.2&nbsp;million for the third
quarter. Despite some negative revenue impact from hurricanes Harvey and Irma and the intense
focus on finalizing the Business Combination Agreement with BlueFocus, we drove record revenue and
gross profit in the third quarter. Our Information Services revenue increased 54% to $22.8&nbsp;million,
with gross profit increasing 182% to $10.1&nbsp;million, as compared to the third quarter 2016. This was
led by strong revenue growth in our consumer vertical, increasing 85% to $7.6&nbsp;million, our
financial vertical, increasing 74% to $3.7&nbsp;million, and our emerging vertical, increasing to 94% to
$2.3&nbsp;million.


<P align="left" style="font-size: 10pt">Our performance marketing revenue decreased 8% to $34.4&nbsp;million, as compared to the third quarter
2016; however, gross profit increased 6% to $9.5&nbsp;million, as we shifted our media spend from lower
margin third-party sources to the direct addressable higher margin channels using our custom
audience data. This shift created a much healthier margin profile within our digital vertical,
sacrificing some top line revenue, which decreased 35% to $10.5&nbsp;million. Additionally, within
performance marketing, we saw strong top line revenue growth from our financial vertical,
increasing 63% to $7.9&nbsp;million, and our consumer vertical, increasing 47% to $7.9&nbsp;million.


<P align="left" style="font-size: 10pt">Cost of revenues were $37.7&nbsp;million, compared to $39.7&nbsp;million for the third quarter 2016. This $2
million decrease in cost was a result of a higher percentage of revenue coming from our Information
Services segment, our shift of media spend away from lower margin third-party sources to directly
addressable higher margin channels, and our overall reduction in traffic acquisition costs relative
to revenue.


<P align="left" style="font-size: 10pt">Gross profit increased 56% to $19.6&nbsp;million, producing a consolidated gross margin of 34%, a 10
percentage point increase over third quarter 2016.


<P align="left" style="font-size: 10pt">SG&A was $27.6&nbsp;million, a 60% increase over third quarter 2016, driven primarily by non-cash
share-based payments, BlueFocus transaction related costs, and continued investment in the
expansion of our Sales, Operations, Infrastructure and Technology Teams. The $27.6&nbsp;million in SG&A
for the third quarter consisted primarily of $11.1&nbsp;million of non-cash share-based compensation,
$7.5&nbsp;million in employee salaries and benefits, $2.4&nbsp;million in transaction related costs, and $1.8
million in IT related costs.


<P align="left" style="font-size: 10pt">Depreciation and amortization was $3.6&nbsp;million in the third quarter 2017, a 2% increase over third
quarter 2016. The increase was primarily the result of the amortization of internally developed
internal-use software.


<P align="left" style="font-size: 10pt">Loss before income taxes was $14.1&nbsp;million for the quarter, largely a result of non-cash
share-based payments of $11.1&nbsp;million. Loss before income taxes for third quarter 2016 was $14.2
million, largely a result of non-cash share-based payments of $7.3&nbsp;million.


<P align="left" style="font-size: 10pt">We continue to recognize a full valuation allowance on our deferred tax assets, and as a result,
did not book any tax benefit in the period.
<BR>
Net loss was $14.1&nbsp;million. We reported a loss of $0.25 per share for the third quarter, based on a
weighted average share count of 55.4&nbsp;million shares.


<P align="left" style="font-size: 10pt">Moving on to the balance sheet, cash and cash equivalents were $10.3&nbsp;million at September&nbsp;30, 2017,
compared to $10.1&nbsp;million at December&nbsp;31, 2016.


<P align="left" style="font-size: 10pt">I do want to highlight our net working capital, excluding cash, to provide some color on our cash
position at September&nbsp;30, 2017. As compared to June&nbsp;30, 2017, our net accounts receivable increased
$4.7&nbsp;million and our trade accounts payable decreased $2.7&nbsp;million, for a net gain to working
capital of $7.4&nbsp;million, versus the second quarter 2017. As you know, it is common for us to spend
ahead of the fourth quarter as we prime the pump for what is our best quarter of the year. We are
very excited with what we have seen in the first month of the fourth quarter as result of
leveraging our extremely healthy net working capital profile to fuel our business.


<P align="left" style="font-size: 10pt">Moving on to debt, total debt, including the current portion of long-term debt, was $62.8&nbsp;million
at September&nbsp;30, 2017, an increase of $12.8&nbsp;million from December&nbsp;31, 2016, a result of the
additional incremental term loan taken in the first quarter 2017.


<P align="left" style="font-size: 10pt">Current assets were $49.8&nbsp;million at September&nbsp;30, 2017, compared to $43.1&nbsp;million at December&nbsp;31,
2016. Current liabilities, exclusive of the current portion of long-term debt, were $28.5&nbsp;million,
including $5.0&nbsp;million in connection with the TRADS litigation settlement entered into July&nbsp;22,
2017, compared to $22&nbsp;million at December&nbsp;31, 2016.


<P align="left" style="font-size: 10pt">Moving on to the statement of cash flows, for the nine months ended September&nbsp;30, 2017, cash used
in operating activities was $2.9&nbsp;million, compared to cash provided by operating activities of $4.4
million for the same period 2016. The $2.9&nbsp;million used in operating activities was primarily the
result of an operating loss of $0.8&nbsp;million, after adjustments for non-cash items totaling $46.4
million.


<P align="left" style="font-size: 10pt">Cash used in investing activities was $6.7&nbsp;million for the nine months ended September&nbsp;30, 2017,
mainly the result of $5.5&nbsp;million used for software developed for internal use.


<P align="left" style="font-size: 10pt">Cash provided by financing activities was $9.8&nbsp;million for the nine months ended September&nbsp;30,
2017, a result of $14&nbsp;million in net proceeds from the incremental term loan taken in the first
quarter 2017, partially offset by the repayment of $3.5&nbsp;million in long-term debt.


<P align="left" style="font-size: 10pt">For the trailing 12&nbsp;months ending September&nbsp;30, 2017, our leverage ratio was 2.4 times net debt to
Adjusted EBITDA.


<P align="left" style="font-size: 10pt">I will now turn it over to Derek, to conclude our prepared remarks.


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">Thank you, Dan. In closing, we posted yet another strong quarter. We delivered record revenue and
we executed upon our goal of delivering margin expansion. We are not building this Company for
today, tomorrow, or even next year. We are building a company for the future. I am very proud of
what we have built, but not complacent. We have much to do on our roadmap. We have unique and
valuable technology, a proven and dedicated team, a differentiated suite of solutions and demand
from our customers, and we are embarking upon a transformative period where we are setting our two
businesses in motion on an accelerated path to growth. Given the unique circumstances impacting us
this quarter relating to the hurricanes and resource allocation to the BlueFocus transaction, we
see full year 2017 revenues north of $220&nbsp;million. We are very optimistic about the fourth quarter
and our prospects for 2018.


<P align="left" style="font-size: 10pt"><B>Operator:</B>


<P align="left" style="font-size: 10pt">Thank you. We will now begin the question and answer session. To ask a question, you may press
star, then one on your touchtone phone. If you are using a speakerphone, please pick up your
handset before pressing the keys. To withdraw your question, please press star, then two.


<P align="left" style="font-size: 10pt">Our first question comes from Jim McIlree with Cardan Capital. Please go ahead.
<BR>
<B>Jim McIlree:</B>


<P align="left" style="font-size: 10pt">Yes, thanks a lot, and good afternoon.


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">Good afternoon, Jim.


<P align="left" style="font-size: 10pt"><B>Jim McIlree:</B>


<P align="left" style="font-size: 10pt">Thanks. Did the Comp Report have any impact on Q3 revenue? Was there any revenue from the Comp
Report in Q3?


<P align="left" style="font-size: 10pt"><B>Dan MacLachlan:</B>


<P align="left" style="font-size: 10pt">I would be say it would be de minimis in Q3. We launched at the end of Q3, beginning of Q4.


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">And, Jim, it&#146;s very traditional for us to provide, for example, a seven-day free trial in this
business, to let customers access that product. In fact, that&#146;s consistent with what Dan is saying.


<P align="left" style="font-size: 10pt"><B>Jim McIlree:</B>


<P align="left" style="font-size: 10pt">All right. So, is it reasonable to expect that the Q4&#151;that the impact from the Comp Report in Q4
will be, I don&#146;t know, let&#146;s call it noticeable, but not overwhelming? That&#146;s a pretty large gap, I
think.


<P align="left" style="font-size: 10pt"><B>Dan MacLachlan:</B>


<P align="left" style="font-size: 10pt">Yes, but I think, look, when you look at the Information Services side of the business, we feel Q4,
you&#146;ll see a bit of that revenue come in, but really see noticeable material revenue in Q1 of &#145;18,
from the Comp Report.


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">And, Jim, it&#146;s really not&#151;for me, it&#146;s not a straight line to the Comp Report. The Comp Report is a
tool within, as I like to say, the arsenal. When you go to a customer and you bring a full suite of
solutions, it&#146;s that essential part of that solution that wins the customer. So, it&#146;s really the
exponential effects of having the Comp Report, on bringing on new customers, getting them to
utilize the system in expanded ways, rather than just basic ways. While it&#146;s not&#151;it really has an
effect throughout the revenues, much greater than just seeing it in the Comp Report.


<P align="left" style="font-size: 10pt"><B>Jim McIlree:</B>


<P align="left" style="font-size: 10pt">Okay, that&#146;s understood. Just to stick on that a little bit, you talked about a product development
pipeline as we go through 2018. So, it would be reasonable to expect that those impacts build on
each other throughout the year as more and more is developed and released. Is that a reasonable way
to look at it?


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">That&#146;s an extremely reasonable way to look at it. That&#146;s really the way these systems are built.
We&#146;ve often said that we release very early iterations, very basic products along the way, just to
get the word out, get the branding out, let customers know we&#146;re back in the marketplace, but each
solution complements the other. If you&#146;re doing a deep due diligence, you&#146;re really looking to
mitigate risk, or figure out information regarding a subject, it&#146;s the comprehensive suite that
matters. So, every offering, as we not only develop it, but every new release is more effective in
winning over the customer, and then getting fully ingrained in their workflow.


<P align="left" style="font-size: 10pt"><B>Jim McIlree:</B>


<P align="left" style="font-size: 10pt">Got it. You guys mentioned the hurricanes a couple of times. I know it&#146;s difficult to put a dollar
amount on how much you think that had an impact, but could you put a dollar on what the impact was
from the hurricanes?


<P align="left" style="font-size: 10pt"><B>Dan MacLachlan:</B>


<P align="left" style="font-size: 10pt">Yes, it is extremely difficult to quantify the impacts of the hurricanes with great detail. As
Derek articulated in the call, there were a number of ways in which it impacted us as a company. We
have, however, tried to quantify that number based on some internal trending reports, and we have
estimates as high as $1.5&nbsp;million to $3&nbsp;million in total impact in the third quarter, but, again,
it&#146;s very difficult to accurately quantify that number.


<P align="left" style="font-size: 10pt"><B>Jim McIlree:</B>


<P align="left" style="font-size: 10pt">Right, and then the BlueFocus impact would be on top of that?


<P align="left" style="font-size: 10pt"><B>Dan MacLachlan:</B>


<P align="left" style="font-size: 10pt">Correct. I mean, the amount of time for management across the board, high-level management, kind of
middle management, if you will, dealing with the due diligence, trying to consummate the
transaction, it was a tremendous effort across the entire organization focused on that, while
running the day-to-day operations of the business.


<P align="left" style="font-size: 10pt"><B>Jim McIlree:</B>


<P align="left" style="font-size: 10pt">On that BlueFocus issue, we should expect SG&A in Q4 to include some element of BlueFocus work, as
well; is that correct?


<P align="left" style="font-size: 10pt"><B>Dan MacLachlan:</B>


<P align="left" style="font-size: 10pt">Yes, there was a good portion of BlueFocus transaction costs included in Q3. There was some in Q2,
but, however, at that point we hadn&#146;t announced the transaction yet. There will be some additional
work in Q4 related to the transaction, as well.


<P align="left" style="font-size: 10pt"><B>Jim McIlree:</B>


<P align="left" style="font-size: 10pt">Is that likely to be higher than, less than, or equal to what we saw in Q3?


<P align="left" style="font-size: 10pt"><B>Dan MacLachlan:</B>


<P align="left" style="font-size: 10pt">It&#146;s likely to be lower than what we saw in Q3.


<P align="left" style="font-size: 10pt"><B>Jim McIlree:</B>


<P align="left" style="font-size: 10pt">Okay. I think that&#146;s it. I&#146;ll let someone else ask questions. Thanks a lot.


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">Thanks, Jim.


<P align="left" style="font-size: 10pt"><B>Dan MacLachlan:</B>


<P align="left" style="font-size: 10pt">Thanks, Jim.


<P align="left" style="font-size: 10pt"><B>Operator:</B>


<P align="left" style="font-size: 10pt">Our next question comes from Jim Goss with Barrington Research. Please go ahead.


<P align="left" style="font-size: 10pt"><B>Jim Goss:</B>


<P align="left" style="font-size: 10pt">Thanks. I think this was partly addressed earlier when the deal was announced, but the motivation
of the combination of Fluent and IDI was partly to create critical mass as the business of idiCORE
was created. I am wondering what makes now the right time to have the separation? Are you seeing
that the progress is such that there will be sufficient critical mass for it to stand&#151;for idiCORE
to stand on its own, or are there other aspects that are driving the deal?


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">Yes, thanks, Jim. This is Derek. I think you hit it on the head on one of them. There are two
primary aspects. We&#146;ve said all along that the first two years during this company, on the risk
management side, we were in development mode. We also said that the turn of 2017, that we would
switch from development to sales driven, and we built out our sales floor, hired some outside
representatives, and have taken products to market. So, you are correct, that this was a nice
inflection point for us, a turning point for us, to look at a transaction such as this.


<P align="left" style="font-size: 10pt">As important, however, if not more so, you can see on the marketing services side of the business,
we have an incredible business. It&#146;s a very unique business. I don&#146;t know of any company out there
that engages with the consumer and can deliver such a targeted consumer to the right advertiser the
way Fluent can. When we were presented with the opportunity of taking Fluent international, upon
the signing of a pen, essentially, and combining it with two incredible international assets, as I
said, you know, I think this is a path that propels both businesses. It really accelerates the
businesses far faster than we probably could individually&#151;or collectively, excuse me, as one
company.


<P align="left" style="font-size: 10pt">That said, I think we&#146;ve been doing a great job doing that, but, again, you also identified that
the risk management side of the business is at a nice inflection point, and, again, this is a great
opportunity for it to be a springboard for Fluent to expand its business very significantly.


<P align="left" style="font-size: 10pt"><B>Jim Goss:</B>


<P align="left" style="font-size: 10pt">Okay. Do I understand it correctly, that FOREWARN is part of the idiCORE business?


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">That&#146;s correct.


<P align="left" style="font-size: 10pt"><B>Jim Goss:</B>
<BR>
Could you discuss, maybe, the scaling of it and the relative importance? Is this something that
you&#146;re expecting to be very major and have additional applications beyond the real estate market
that you&#146;re starting with, and is this an example of other specialty products and services you
expect to be on the come?


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">Definitely, yes, Jim. The CORE platform that we have built, this proprietary platform developed by
none other than Ole Poulsen and our Seattle-based technology team, proprietary, next generation,
cloud-based, you&#146;ve heard me say those terms, Jim. It&#146;s an incredible platform, one that can fuse
billions of records, it&#146;s highly scalable, and it&#146;s unmatched in power that I&#146;ve seen in the
industry since I&#146;ve been in it, and with that platform, we can power many, many solutions. I mean,
we&#146;re not even scratching the surface yet, Jim.


<P align="left" style="font-size: 10pt">We&#146;ve talked before about our longer-term initiatives of taking that platform and not only having
it layered over our existing data, but layering it over end user databases, large Fortune 500
companies, understanding their complex problems and solving for those problems by fusing their
disparate data along with ours. So, there&#146;s an extraordinary platform of which we&#146;re going to use
to power solutions for many years to come.


<P align="left" style="font-size: 10pt">FOREWARN is just one solution that, again, through our research, we identified a market need.
Frankly, the response is overwhelming. We&#146;ve had to staff up a team in the last two weeks to accept
the inbound demand for this product. It&#146;s quite extraordinary. It&#146;s an industry that you&#146;re
primarily mobile, as a real estate agent, you&#146;re contacted by an individual who claims they want to
see that multi-million-dollar property, and yet there are few businesses where you walk into a
scenario where you&#146;re completely vulnerable and you have no idea who you&#146;re dealing with.


<P align="left" style="font-size: 10pt">Really, those are the solutions that our platform and idiCORE bring to market. So, yes, you&#146;re
going to see these are applicable to many areas, we&#146;re running down those paths today, and, again,
for much broader uses and solutions in the future.


<P align="left" style="font-size: 10pt"><B>Jim Goss:</B>


<P align="left" style="font-size: 10pt">Okay, and maybe the last one. You did outline why the revenues, while increasing, were not
increasing to the scale that I think we probably expected, and then you talked about the fourth
quarter&#151;or the full year guidance of $220&nbsp;million, which suggests that the fourth quarter might
have some of the same issues, and I&#146;m wondering why it would carry over into the fourth quarter,
that it might lag the expectations that might have been there sort of around mid-year.


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">No, Jim, I think perhaps I&#146;m being conservative, but given where we are today and entering into the
fourth quarter, I felt that was an appropriate place to say, north of $220&nbsp;million. I feel very
good about what I&#146;m seeing in Q4, I like the trends a lot. We&#146;re still focused on very profitable
revenue and the trending is looking very strong. So, I feel good with north of that number today,
and we&#146;ll see where we go. We are entering our best quarter.


<P align="left" style="font-size: 10pt"><B>Jim Goss:</B>


<P align="left" style="font-size: 10pt">All right. Thanks much.


<P align="left" style="font-size: 10pt"><B>Operator:</B>
<BR>
This concludes our question and answer session. I would like to turn the conference back over to
Derek Dubner for any closing remarks.


<P align="left" style="font-size: 10pt"><B>Derek Dubner:</B>


<P align="left" style="font-size: 10pt">Great, thank you very much. Well, I&#146;ve basically stated what I wanted to as far as closing. Again,
thank you all for joining us today. I think this is just another fantastic quarter, and I attribute
that to incredible technology, incredible data sets, and most importantly, incredible people. We
have an incredible organization, with just all kinds of people from disparate areas, disparate
educations, disparate capabilities, but together, as one, the synergies are outrageous and we&#146;re
building an amazing company. I want to thank everybody for joining us today and have a great
evening.


<P align="left" style="font-size: 10pt"><B>Operator:</B>


<P align="left" style="font-size: 10pt">The conference has now concluded. Thank you for attending today&#146;s presentation. You may now
disconnect.



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