<SEC-DOCUMENT>0001144204-16-097853.txt : 20160429
<SEC-HEADER>0001144204-16-097853.hdr.sgml : 20160429
<ACCEPTANCE-DATETIME>20160429164220
ACCESSION NUMBER:		0001144204-16-097853
CONFORMED SUBMISSION TYPE:	10-K/A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20160429
DATE AS OF CHANGE:		20160429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTELLINETICS, INC.
		CENTRAL INDEX KEY:			0001081745
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				870613716
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31671
		FILM NUMBER:		161607428

	BUSINESS ADDRESS:	
		STREET 1:		2190 DIVIDEND DRIVE
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43228
		BUSINESS PHONE:		6143888909

	MAIL ADDRESS:	
		STREET 1:		2190 DIVIDEND DRIVE
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43228

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GLOBALWISE INVESTMENTS INC
		DATE OF NAME CHANGE:	20000928
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K/A
<SEQUENCE>1
<FILENAME>v438154_10ka.htm
<DESCRIPTION>FORM 10-K/A
<TEXT>
<HTML>
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     <TITLE></TITLE>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>UNITED
STATES </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>WASHINGTON,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>FORM
10-K/A</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>(Amendment
No. 1)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><FONT STYLE="color: Black">(Mark
One)</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: Black">x</FONT></TD>
    <TD STYLE="width: 97%; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>ANNUAL
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>For
the fiscal year ended December 31, 2015</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>or</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: Black">&uml;</FONT></TD>
    <TD STYLE="width: 97%; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>TRANSITION
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>For
the transition period from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Commission
File Number: 000-31671</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>INTELLINETICS,
INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>(Exact
name of registrant as specified in its charter)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>Nevada</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center; width: 2%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>87-0613716</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>(State
        or other jurisdiction of</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>incorporation
        or organization)</B></FONT></P></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>(I.R.S.
        Employer</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Identification
        No.)</B></FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>2190
Dividend Drive</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Columbus,
Ohio 43228</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>(614)
388-8909</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>(Address,
including zip code, and telephone number, including area code, of registrant&rsquo;s principal executive offices)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>Securities
registered pursuant to Section&nbsp;12(b) of the Act:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; border-bottom: black 0.75pt solid; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Title
        of each class</B></FONT></P></TD>
    <TD STYLE="text-align: center; width: 2%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; border-bottom: black 0.75pt solid; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Name
        of each exchange on which registered</B></FONT></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Common
    Stock, par value $0.001 per share</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">None</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Securities
registered pursuant to Section&nbsp;12(g) of the Act: None</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; color: Black">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; color: Black">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.6pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Indicate
by check mark if the registrant is not required to file reports pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Act.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; color: Black">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; color: Black">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.6pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Indicate
by check mark whether the registrant (1)&nbsp;has filed all reports required to be filed by Section&nbsp;13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such
reports), and (2)&nbsp;has been subject to such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; color: Black">&#120;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; color: Black">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.6pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Indicate
by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&sect; 232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; color: Black">&#120;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;&nbsp;&nbsp;&nbsp;No</FONT><FONT STYLE="color: Black">&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Indicate
by check mark if disclosure of delinquent filers pursuant to Item&nbsp;405 of Regulation S-K is not contained herein, and will
not be contained, to the best of registrant&rsquo;s knowledge, in definitive proxy or information statements incorporated by reference
in Part III of this Form 10-K or any amendment to this Form 10-K.</FONT><FONT STYLE="color: Black">&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="color: Black">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller
reporting company&rdquo; in Rule 12b-2 of the Exchange Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Large&nbsp;accelerated&nbsp;filer</FONT><FONT STYLE="color: Black">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 47%"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: Black">&uml;</FONT></TD>
    <TD NOWRAP STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Accelerated&nbsp;filer</FONT><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 47%"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: Black">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD NOWRAP><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Non-accelerated filer&nbsp;&nbsp;</FONT><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: Black">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">&nbsp;&nbsp;(Do
    not check if a smaller reporting company)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Smaller&nbsp;reporting&nbsp;company</FONT><FONT STYLE="color: Black">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: Black">x</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.6pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; color: Black">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; color: Black">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.6pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="color: Black">State
the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price
at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day
of the registrant&rsquo;s most recently completed second fiscal quarter.<B> <FONT STYLE="background-color: white">$ 4,060,161</FONT></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.6pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="color: Black">Indicate
the number of shares outstanding of each of the registrant&rsquo;s classes of common stock, as of the latest practicable date.
<B>16,794,992 shares of Common Stock, par value $0.001 per share, were outstanding as of April 22, 2016.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>DOCUMENTS
INCORPORATED BY REFERENCE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.6pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="color: Black">None</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>EXPLANATORY NOTE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Intellinetics, Inc. (&ldquo;Intellinetics,&rdquo;
the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo;) is filing this Amendment No. 1 to Form 10-K on Form 10-K/A (the
&ldquo;Form 10-K/A&rdquo;) to amend our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 (the &ldquo;Form
10-K&rdquo;), which was filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on March 28, 2016. The purpose
of this Form 10-K/A is solely to disclose the information required in Part III (Items 10, 11, 12, 13, and 14) of the Form 10-K,
which information was previously omitted from the Form 10-K in reliance on General Instruction G(3) to Form 10-K. Accordingly,
we hereby amend and replace in its entirety Part III of the Form 10-K.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">In addition, pursuant to the rules
of the SEC, Item 15 of Part IV has been amended to include the currently dated certifications of our principal executive officer
and principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. The certifications of our principal
executive officer and principal financial officer are filed with this Form 10-K/A as Exhibits 31.1 and 31.2 hereto. Because no
financial statements have been included in this Form 10-K/A and this Form 10-K/A does not contain or amend any disclosure with
respect to Items 307 and 308 of Regulation S-K, paragraphs 3, 4, and 5 of the certifications have been omitted. We are not including
the certificate under Section 906 of the Sarbanes Oxley Act of 2002, as no financial statements are being filed with this Form
10-K/A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Except as described above, this
Form 10-K/A does not amend any other information set forth in the Form 10-K, and we have not updated disclosures included therein
to reflect any subsequent events. This Form 10-K/A should be read in conjunction with the Form 10-K and with our filings with
the SEC subsequent to the Form 10-K.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Part
III</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>ITEM 10.
    </B></FONT></TD>
    <TD STYLE="width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>DIRECTORS,
    EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Executive Officers and Board
of Directors</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">On
April 22, 2016, our executive officers and directors included the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Name</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Age</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 63%; border-bottom: black 1pt solid; text-align: center; vertical-align: middle"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Title</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Matthew L. Chretien <SUP>1</SUP></FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">48</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">President, Chief Executive Officer,
    Treasurer, Chief Technology Officer, and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Kendall D. Gill</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">68</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Chief Financial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">A. Michael Chretien <SUP>1</SUP></FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">76</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Vice President of Compliance,
    Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Rye D&rsquo;Orazio</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">61</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Robert C. Schroeder</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">48</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Murray H. Gross</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">77</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Director, Chairman of the Board</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Sophie Pibouin</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">48</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><SUP>1</SUP> Matthew Chretien is
the son of A. Michael Chretien.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Matthew L. Chretien, Chief Executive
Officer, President, Treasurer, Chief Technology Officer, Director. Mr. Chretien was appointed interim President and Chief Executive
Officer on July 31, 2013. He is a co-founder of Intellinetics and has served as Intellinetics&rsquo; Executive Vice President,
Chief Technology Officer, Chief Financial Officer, and Treasurer since September 2011. Mr. Chretien resigned from the Chief Financial
Officer position in September 2012. From January 1999 until September 2011, Mr. Chretien was employed as Intellinetics&rsquo;
President and Chief Executive Officer. From 1996 until 1999, Mr. Chretien was employed as Intellinetics&rsquo; Vice President.
Prior to joining Intellinetics, Mr. Chretien served as the field sales engineer for Unison Industries, a manufacturer of aircraft
ignition systems.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Kendall D. Gill, Chief Financial
Officer. Mr. Gill has served as our Chief Financial Officer since September 2012. Prior to becoming our Chief Financial Officer,
Mr. Gill served as an accounting contractor to the Company since September 15, 2011. From May 2006 to September 2011, Mr. Gill
served as the Chief Financial Officer of PT Brands, Inc. From May 2010 to August 2012, Mr. Gill served as President and CEO of
Gill Products, LLC. Mr. Gill is a Certified Public Accountant and worked as an Audit Manager at Coopers &amp; Lybrand from 1974
to 1985.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">A. Michael Chretien, Vice President
of Compliance, Secretary. Mr. A. Michael Chretien is a co-founder of Intellinetics and has served as Intellinetics&rsquo; Vice
President of Compliance, and Secretary since September 2011. From 1999 until April 2015, Mr. Chretien served as Intellinetics&rsquo;
Chairman of the Board. Prior to joining Intellinetics, Mr. Chretien served for twenty-six years in the Federal Bureau of Investigation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Rye D&rsquo;Orazio, Director. Mr.
D&rsquo;Orazio has served as a director of Intellinetics since 2006. Mr. D&rsquo;Orazio has been a partner at Ray &amp; Barney
Group since 2001. From 1995 to 2000, Mr. D&rsquo;Orazio served as Vice President of Professional Services at Compucom. From 1985
to 1995, Mr. D&rsquo;Orazio was a partner at NCGroup, which he founded. From 1982 to 1995, Mr. D&rsquo;Orazio was employed as
the Vice President of Professional Services at Triangle Systems, and from 1977 to 1982, Mr. D&rsquo;Orazio was employed as a systems
engineer at Electronic Data Systems.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Robert C. Schroeder, Director. Mr.
Schroeder was appointed as a member of our board of directors in September 2013. &nbsp; Mr. Schroeder is Vice President of Investment
Banking at Taglich Brothers and specializes in advisory services and capital raising for small public and private companies. Prior
to that, Mr. Schroeder served as Senior Equity Analyst publishing sell-side research on publicly traded companies. Prior to joining
Taglich Brothers, he served in various positions in the brokerage and public accounting industry. Mr. Schroeder received a B.S.
degree in accounting and economics from New York University. He currently serves on the board of directors of publicly traded
Air Industries Group, a manufacturer of aerospace parts and assemblies, and Decisionpoint Systems, Inc., a leading provider and
integrator of Enterprise Mobility, Wireless Applications and RFID solutions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Murray H. Gross<B>, </B>Director.
Mr. Gross was appointed as a member of our board of directors on April 30, 2015. Mr. Gross is also Chairman of the Board. Prior
to joining the Board, Mr. Gross was Chairman, CEO, and President of US Home Systems (NASDAQ: USHS) from its inception in 1997
through 2012. The Company grew to $180 million in sales when it was acquired by The Home Depot (NYSE: HD) in October 2012 for
nearly $100 million. Prior to founding USHS, Gross was the President and COO of Facelifters Home Systems from 1987 &ndash; 1996
when it was acquired by AMRE (NYSE: AMM) for $44 million. Mr. Gross began his entrepreneurial pursuits when he co-founded Pennsylvania-based
Busy Beavers Remodelers. This Company was sold to its partner, Busy Beavers Home Centers, and both companies were acquired in
1972 by Cyclops Corporation, then number 240 on the Fortune 500 list.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Sophie Pibouin<B>,</B> Director<B>.
</B>Ms. Pibouin<B> </B>was appointed as a member of our board of directors on March 20, 2015. Prior to joining the Board, Ms.
Pibouin served as Chief Operating Officer, from 2012 to 2014, for SDL, PLC, a global provider of customer experience management
software and solutions, having previously worked as a General Manager from 2010 to 2012. From 2006 to 2009, she served as Chief
Operating Officer at Chronicle Solutions, Inc., a security software company. From 1990 to 2004, she worked for CA, Inc. (formerly
Computer Associates), in a variety of positions including ultimately as Senior Vice President/GM for the Mid-Atlantic Region.
She graduated with Honors as a Bachelor in International Commerce from the University of Flaubert in Rouen, France.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Committees of the Board of Directors</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Our Board of Directors has established
a standing Audit Committee, Compensation Committee, and Nominating Committee. Each committee operates under a written charter
that has been adopted by our Board. Each member of each of these Board committees is an independent director.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><FONT STYLE="color: Black"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black"><B><I>Audit
Committee</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">Our
Board of Directors has established an Audit Committee in accordance with Section 3(a)(58)(A) of the Exchange Act. In 2014, the
members of the Audit Committee were Rye D&rsquo;Orazio and Robert C. Schroeder. On May 13, 2015, the Board of Directors elected
Murray Gross to also serve on the audit committee. The Board of Directors has determined that all members are independent under
our standards of director independence. The Board of Directors has determined that each member of the Audit Committee is financially
literate and that Robert C. Schroeder qualifies as an &ldquo;audit committee financial expert,&rdquo; as that term is defined
in Item 407(d) of Regulation S-K under the Exchange Act. The Audit Committee met four times during 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="color: Black"><B>Codes
of Ethics</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">We
have adopted a code of ethics, each designed to encourage our directors, officers and employees to act with the highest level
of integrity. This code is available as attached, and on the Investor Relations section of our website at&nbsp;<U>www.intellinetics.com</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
Intellinetics, Inc. Code of Business Conduct and Ethics is a code of conduct that applies to all of our directors, officers and
employees. Under the Code of Business Conduct and Ethics, each officer, director and employee is required to maintain a commitment
to high standards of business conduct and ethics. The Code of Business Conduct and Ethics covers many areas of professional conduct,
including conflicts of interest, protection of confidential information, and strict adherence to laws and regulations applicable
to the conduct of our business. Directors, officers and employees are required to report any conduct that they believe in good
faith to be an actual or apparent violation of the Code of Business Conduct and Ethics.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">If
we make any amendment to, or grant any waiver from a provision of, our code of conduct with respect to any director, executive
officer or senior financial officer, we will disclose the nature of such amendment or waiver on our website, in a Current Report
on Form 8-K or both.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">Communications
directed to members of the Board will be forwarded to the intended Board members, unless such communications are deemed advertisements
or promotional, clearly unrelated to our business or to Board or committee matters, or unduly hostile, threatening, illegal or
otherwise unnecessary or inappropriate to forward.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;<B>Section
16(a) Beneficial Ownership Reporting Compliance</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Section 16(a) of the Exchange Act
requires our directors and officers, and persons who beneficially own more than ten percent (10%) of our common stock, who are
hereinafter collectively referred to as the Reporting Persons, to file reports with the SEC of beneficial ownership and reports
of changes in beneficial ownership of our common stock on Forms 3, 4 and 5. Reporting Persons are required by applicable SEC rules
to furnish us with copies of all such forms filed with the SEC pursuant to Section 16(a) of the Exchange Act. To our knowledge,
based solely on our review of the copies of the Forms 3, 4 and 5 received by us during the fiscal year ended December 31, 2014
and representations that no other reports were required, we believe that all reports required to be filed by such persons with
respect to the Company&rsquo;s fiscal year ended December 31, 2015, were timely filed, with the exception of the following transactions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On February 10, 2015, and March
11, 2015, Michael Taglich was issued convertible notes by the Company. The Form 4 associated with these transactions was filed
April 28.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On May 20, 2015, June 3, 2015, June
17, 2015, Michael Taglich was issued convertible notes by the Company. The Form 4 associated with these transactions was filed
July 17, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On August 26, 2015, and September
22, 2015, Michael Taglich was issued convertible notes by the Company. The Form 4 associated with these transactions was filed
October 30, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On December 29, 2015, Michael Taglich,
as a beneficial indirect owner, purchased units, consisting of common stock and warrants. The Form 4 associated with this transaction
was filed March 21, 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On December 31, 2015, Michael Taglich
purchased units, consisting of common stock and warrants, in exchange for a surrender of convertible notes held by Mr. Taglich
and issued by the Company. The Form 4 associated with this transaction was filed March 21, 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On February 10, 2015, and March
11, 2015, Robert Taglich was issued convertible notes by the Company. The Form 4 associated with these transactions was filed
April 28.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On May 20, 2015, June 3, 2015, June
17, 2015, Robert Taglich was issued convertible notes by the Company. The Form 4 associated with these transactions was filed
July 17, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On August 26, 2015, and September
22, 2015, Robert Taglich was issued convertible notes by the Company. The Form 4 associated with these transactions was filed
October 30, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On December 31, 2015, Robert Taglich
purchased units, consisting of common stock and warrants, in exchange for a surrender of convertible notes held by Mr. Taglich
and issued by the Company. The Form 4 associated with this transaction was filed March 21, 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On December 31, 2015, Murray Gross
purchased units, consisting of common stock and warrants, in exchange for a surrender of convertible notes held by Mr. Gross and
issued by the Company. The Form 4 associated with this transaction was filed January 19, 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On December 31, 2015, Matthew L
Chretien purchased units, consisting of common stock and warrants, in exchange for a surrender of convertible notes held by Mr.
Chretien and issued by the Company. The Form 4 associated with this transaction was filed March 21, 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">On December 31, 2015, Robert Schroeder
purchased units, consisting of common stock and warrants, in exchange for a surrender of convertible notes held by Mr. Schroeder
and issued by the Company. The Form 4 associated with this transaction was filed March 21, 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>ITEM 11.
    </B></FONT></TD>
    <TD STYLE="width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>EXECUTIVE
    COMPENSATION</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>EXECUTIVE
COMPENSATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">As
a &ldquo;smaller reporting company&rdquo; under SEC rules, our &ldquo;Named Executive Officers&rdquo; (or &ldquo;NEOs&rdquo;)
consist of (i) the individual(s) who served or acted as the Company&rsquo;s principal executive officer during the last completed
fiscal year; (ii) the Company&rsquo;s two most highly compensated executive officers, other than the principal executive officer,
who were serving as executive officers at the end of the last completed fiscal year; and (iii) up to two additional individuals
for whom disclosure would have been provided pursuant to clause (ii) but for the fact that the individual was not serving as one
of our executive officers at the end of the last completed fiscal year. For the year ended December 31, 2015, our NEOs were the
following individuals:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; color: Black">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Matthew L. Chretien, our President, Chief Executive
    Officer, Chief Technology Officer, and Treasurer;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; color: Black">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Kendall D. Gill, our Chief Financial Officer;
    and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; color: Black">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Thomas D. Moss, our Chief Software Engineer;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Summary Compensation Table </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black; background-color: white">The
following table sets forth certain information relating to the total compensation earned for services rendered to us in all capacities
by (i) the persons serving as our President and Chief Executive Officer, and (ii) our two other most highly compensated executive
officers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Name&nbsp;&amp; Principal Position</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Year</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Salary <BR> ($)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Bonus <BR> ($)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Stock Awards<BR>
    ($)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Option Awards<BR>
    ($)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Non-Equity Incentive&nbsp;Plan
    Compensation&nbsp;($)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Change&nbsp;in Pension
    Value and&nbsp;Non- Qualified Deferred Compensation Earnings<BR> ($)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">All&nbsp;Other Compensation
    ($)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Total <BR> ($)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Matthew L. Chretien</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: center; vertical-align: top"><FONT STYLE="color: Black">2015</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">135,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">135,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in"><FONT STYLE="color: Black">President and Chief <BR> Executive
    Officer</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: top"><FONT STYLE="color: Black">2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">173,092</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">173,902</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Kendall D. Gill</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: top"><FONT STYLE="color: Black">2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">120,462</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">120,462</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in"><FONT STYLE="color: Black">Chief Financial Officer</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: top"><FONT STYLE="color: Black">2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">134,292</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">134,292</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Thomas D. Moss</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: top"><FONT STYLE="color: Black">2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">150,577</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">150,577</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in"><FONT STYLE="color: Black">Chief Software Engineer</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: top"><FONT STYLE="color: Black">2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">145,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; vertical-align: top"><FONT STYLE="color: Black">145,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;<B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>Employment
Agreements with our Executive Officers </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black"><B><I>Pension
Benefits</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt; background-color: white"><FONT STYLE="color: Black"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">We
do not provide, sponsor or maintain any pension arrangements for our named executive officers or for our employees. Our named
executive officers are eligible to participate in our 401(k) defined contribution plan. None of our named executive officers participated
in our 401(k) plan during fiscal 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black"><B><I>Non-Qualified
Deferred Compensation</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; background-color: white"><FONT STYLE="color: Black"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">We
do not provide and we have not adopted any non-qualified deferred contribution plans or other deferred compensation plans. In
the future, the Compensation Committee may elect to provide our officers and other employees with non-qualified deferred contribution
or deferred compensation benefits if the Compensation Committee determines that doing so is in our best interests.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black"><B><I>Employment
Agreements with our Executive Officers</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt; background-color: white"><FONT STYLE="color: Black"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">Intellinetics
Ohio is a party to employment agreements with Matthew L. Chretien and A. Michael Chretien, both dated as of September 16, 2011.
The Company does not have employment agreements with the executive officers because the Company believes the agreements between
Intellinetics Ohio and each of the above named executive officers is expected to control the terms of their employment with the
Company, as Intellinetics Ohio is the sole operating subsidiary of the Company. On September 24, 2012, pursuant to an Offer of
Employment and Employment Agreement, the Company appointed Kendall D. Gill as the Chief Financial Officer. Each executive with
an agreement listed below has informally agreed to receive less in salary than they are entitled to receive under their Employment
Agreements at the current time, while the Company is managing available cash and working towards profitability.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; background-color: white"><FONT STYLE="color: Black">Agreement
with Matthew L. Chretien</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">Under
this agreement, Matthew L. Chretien agrees to serve as the Interim President and Chief Executive Officer, Principal Accounting
Officer, and Treasurer of Intellinetics, and to devote his full-time efforts to his employment with Intellinetics. Pursuant to
the agreement, Matthew L. Chretien (i) receives compensation at the rate of $195,000 per year, (ii) is eligible to participate
in certain employee benefit programs, including a 401(k) plan, health insurance, paid vacation, access to an exercise facility,
and use of certain company-paid technology, (iii) may become eligible, at the sole discretion of Intellinetics, for profit sharing,
commissions, and bonuses, and (iv) was entitled to receive deferred compensation in the form of a lump sum payment of $100,828
on March 31, 2015. The Company notified Mr. Chretien on March 31, 2015, that payment of the lump sum amount scheduled for March
31, 2015 is deferred subject to the Company&rsquo;s available cash flow. The term of the agreement is indefinite, and both parties
stipulate and agree that Matthew L. Chretien is an &ldquo;at will&rdquo; employee under Ohio law, which governs the agreement.
The agreement can also terminate (i) if Intellinetics discontinues the operation of its business, or (ii) at the option of Intellinetics
in the event that Matthew L. Chretien becomes permanently disabled. Under the agreement, Matthew L. Chretien covenants (i) not
to disclose trade secrets or proprietary information of Intellinetics, (ii) not to solicit customers, clients, or employees of
Intellinetics for a period of two years after termination of the agreement, and (iii) not to compete with Intellinetics in the
state of Ohio for a period of six months after termination of his employment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; background-color: white"><FONT STYLE="color: Black">Agreement
with A. Michael Chretien</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">Under
this agreement, A. Michael Chretien agrees to serve as the Vice President of Compliance and Corporate Secretary, and to devote
his full-time efforts to his employment with Intellinetics. Pursuant to the agreement, A. Michael Chretien (i) receives compensation
at the rate of $97,500 per year, (ii) is eligible to participate in certain employee benefit programs, including a 401(k) plan,
health insurance, paid vacation, access to an exercise facility, and use of certain company-paid technology, (iii) may become
eligible, at the sole discretion of Intellinetics, for profit sharing, commissions, and bonuses, and (iv) was entitled to receive
deferred compensation in the form of a lump sum payment of $114,183 on March 31, 2015. The Company notified Mr. Chretien on March
31, 2015, that payment of the lump sum amount scheduled for March 31, 2015 is deferred subject to the Company&rsquo;s available
cash flow. The term of the agreement is indefinite, and both parties stipulate and agree that A. Michael Chretien is an &ldquo;at
will&rdquo; employee under Ohio law, which governs the agreement. The agreement can also terminate (i) if Intellinetics discontinues
the operation of its business, or (ii) at the option of Intellinetics in the event that Mr. Chretien becomes permanently disabled.
Under the agreement, A. Michael Chretien covenants (i) not to disclose trade secrets or proprietary information of Intellinetics,
(ii) not to solicit customers, clients, or employees of Intellinetics for a period of two years after termination of the agreement,
and (iii) not to compete with Intellinetics in the state of Ohio for a period of six months after termination of his employment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; background-color: white"><FONT STYLE="color: Black">Agreement&nbsp;with
Kendall D. Gill</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">Under
this agreement, Kendall D. Gill (i) receives compensation at the rate of $145,000 per year, (ii) is eligible to participate in
certain employee benefit programs, including a 401(k) plan, health insurance, paid vacation, access to an exercise facility, and
use of certain company-paid technology, and (iii) may become eligible, at the sole discretion of the Company, for profit sharing,
and bonuses. The term of the agreement is indefinite, and both parties stipulate and agree that Kendall D. Gill is an &ldquo;at
will&rdquo; employee under Ohio law, which governs the agreement. Under the agreement, Kendall D. Gill covenants (i) not to disclose
trade secrets or proprietary information of the Company, (ii) not to solicit customers, clients, or employees of the Company for
a period of two years after termination of the agreement, and (iii) not to compete with the Company in the state of Ohio for a
period of six months after termination of his employment. Under the agreement, on September 24, 2012, Kendall D. Gill was awarded
250,000 restricted common shares of the Company, $0.001 par value, (subject to the applicable holding period restrictions under
Rule 144) in reliance upon exemptions from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase; color: Black"><B>Director
Compensation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Director
Compensation 2015</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Name</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Fees
    Earned or Paid in Cash</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Stock
    Awards ($)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="color: Black">Option
                                         Awards ($)</FONT></P></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Non-equity
    Incentive plan compensation ($)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Nonqualified
    deferred compensation earnings ($)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">All
    other Compensation ($)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">(a)</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">(b)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">( c
    )</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">(d)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">(e)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">(f)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">(g)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="width: 1%; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">A</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 40%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;Sophie Pibouin</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">25,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">105,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">B</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;Murray H. Gross</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">520,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">C</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;Rye D'Orazio</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">D</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;Robert C. Schroeder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">E</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;Matthew L. Chretien</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">A</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">On
                                         March 20, 2015, the Board approved annual cash compensation for Ms. Pibouin for her services
                                         as director of $25,000 per year. On April 30, 2015, the Company entered into a Non-Qualified
                                         Stock Option Agreement, subject to the 2015 Intellinetics Inc. Equity Incentive Plan,
                                         with Ms. Pibouin for the issuance of options to purchase 128,000 shares of common stock
                                         of the Company in exchange for her services as a Director of the Company. The options
                                         are vested, and carry an exercise price of $0.75 per share.</FONT></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">B</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">On
                                         April 30, 2015, the Company entered into a Non-Qualified Stock Option Agreement, subject
                                         to the 2015 Intellinetics Inc. Equity Incentive Plan, with Murray Gross for the issuance
                                         of options to purchase 640,000 shares of common stock of the Company in exchange for
                                         his services as a Director of the Company. Portions of the options are subject to certain
                                         performance-based vesting requirements and carry an exercise price of $0.75 per share.</FONT></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">None
of the directors of Intellinetics received compensation for services rendered as a director during the year ended December 31,
2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white; color: #333333"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">In
2015, the Compensation Committee and Board of Directors approved the following compensation arrangements to compensate directors
for their services as directors:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; padding-bottom: 8pt"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">On March 20, 2015, the Board approved annual cash
    compensation for Ms. Pibouin for her services as director of $25,000 per year. On April 30, 2015, the Company entered into
    a Non-Qualified Stock Option Agreement, subject to the 2015 Intellinetics Inc. Equity Incentive Plan, with Ms. Pibouin for
    the issuance of options to purchase 128,000 shares of common stock of the Company in exchange for her services as a Director
    of the Company. The options vest on a quarterly schedule, and carry an exercise price of $0.75 per share.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.25pt; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; padding-bottom: 8pt"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">On April 30, 2015, the Company entered into a
    Non-Qualified Stock Option Agreement, subject to the 2015 Intellinetics Inc. Equity Incentive Plan, with Murray Gross for
    the issuance of options to purchase 640,000 shares of common stock of the Company in exchange for his services as a Director
    of the Company. Portions of the options are subject to certain performance-based vesting requirements and carry an exercise
    price of $0.75 per share.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; padding-bottom: 8pt"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">On November 17, 2015, the Compensation Committee,
    pursuant to the authority given to it by the Board and under the 2015 Intellinetics Inc. Equity Incentive Plan, approved the
    following annual compensation for directors, payable on January 2 of each year beginning with 2016:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">$7,500
                                         cash payment,</FONT></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.75in"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">o</FONT></TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">Restricted stock equal to $7,500 as of the date
    of grant, in Company shares, pursuant to the 2015 Intellinetics Inc. Equity Incentive Plan, and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.75in"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">o</FONT></TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">An additional amount of restricted stock equal
    to $25,000 as of the date of grant, in Company shares, pursuant to the 2015 Intellinetics Inc. Equity Incentive Plan, payable
    to the Chairman of the Board for his additional services in that role. </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>ITEM 12.
    </B></FONT></TD>
    <TD STYLE="width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>SECURITY
    OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">The following table reflects beneficial
share ownership by all of our executive officers and directors, and by any shareholders who beneficially own more than 5% of the
Company's common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
following table reflects beneficial share ownership by all of our executive officers and directors, and by any shareholders who
beneficially own more than 5% of the Company's common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
information provided in the table below is based on our records, information filed with the SEC and information provided by our
directors and executive officers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">Number of Shares</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Name of Beneficial
    Owner</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Beneficially
    Owned</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: Black">Percentage
    of Shares Outstanding <SUP>(1)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">DIRECTORS AND OFFICERS</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 42%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Matthew Chretien, President, CEO <BR>
    2190 Dividend Drive, Columbus, OH 43228</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 22%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,537,961</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>(2)</SUP></FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 30%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">8.39</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Michael Chretien, VP of Compliance, Secretary <BR>
    2190 Dividend Drive, Columbus, OH 43228</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,396,685</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">8.32</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Kendall D Gill, CFO <BR> 2190 Dividend Drive, Columbus,
    OH 43228</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">85,714</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>(3)</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: Black">*</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Murray Gross, Chairman <BR> 2190 Dividend Drive,
    Columbus, OH 43228</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,055,712</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>(4)</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">6.03</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Rye D'Orazio, Director <BR> 2190 Dividend Drive,
    Columbus, OH 43228</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">204,961</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1.22</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Sophie Pibouin, Director <BR> 2190 Dividend Drive,
    Columbus, OH 43228</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">136,333</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>(5)</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: Black">*</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Robert Schroeder, Director <BR> 2190 Dividend Drive,
    Columbus, OH 43228</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">598,559</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>(6)</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">3.51</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Officers and Directors as a Group (7 Persons)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">5,015,925</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>(7)</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">27.03</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">SHAREHOLDERS WITH 5% OR MORE BENEFICIAL OWNERSHIP</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Michael Taglich <BR> 275 Madison Ave., Suite 1618,
    New York, NY 10016</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">4,031,526</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>(8)</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">22.37</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>&nbsp;</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Robert F. Taglich <BR> 275 Madison Ave., Suite 1618,
    New York, NY 10016</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">3,645,177</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"><SUP>(9)</SUP></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">20.40</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">* Less than
1%</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Based
                                         upon 16,794,992 shares of common stock issued and outstanding, plus shares beneficially
                                         owned but not issued for each respective shareholder.</FONT></TD>
</TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Beneficial
                                         ownership includes 610,595 shares of common stock underlying stock options and warrants
                                         issued to Mr. Chretien but not yet exercised.</FONT></TD>
</TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Beneficial
                                         ownership includes 50,000 shares of common stock underlying stock options issued to Mr.
                                         Gill but not yet exercised.</FONT></TD>
</TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Beneficial
                                         ownership includes 703,169 shares of common stock underlying stock options and warrants
                                         issued to Mr. Gross but not yet exercised.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Beneficial
                                         ownership includes 128,000 shares of common stock underlying stock options issued to
                                         Ms. Pibouin but not yet exercised.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">(6)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Beneficial
                                         ownership includes 272,770 shares of common stock underlying stock options and warrants
                                         issued to Mr. Schroeder but not yet exercised.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">(7)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Beneficial
                                         ownership includes 1,764,534 shares of common stock underlying stock options and warrants
                                         issued to the directors and officers but not yet exercised, as disclosed in footnotes
                                         2 through 6.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">(8)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Beneficial
                                         ownership includes 1,225,162 shares of common stock underlying warrants issued to, or
                                         otherwise considered beneficially owned through family relationship or control by, Mr.
                                         Michael Taglich but not yet exercised.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">(9)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Beneficial
                                         ownership includes 1,074,726 shares of common stock underlying warrants issued to Mr.
                                         Robert Taglich but not yet exercised.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="text-transform: uppercase; color: Black"><B>OUTSTANDING
EQUITY AWARDS AT 2015 FISCAL YEAR END</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">There
were no outstanding equity awards at 2015 Fiscal Year End.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>ITEM 13.
    </B></FONT></TD>
    <TD STYLE="width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>CERTAIN
    RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Certain Relationships and Related
Transactions</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
following is a summary of the related party transactions that Intellinetics has participated in at any time during each of the
previous two fiscal years, as required to be disclosed by all Smaller Reporting Companies. Related party includes those individuals
required to be listed as a related party under Item 401 of Regulation S-K.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">On
December 31, 2014, the Company and Ramon Shealy, a former director of the Company who resigned in 2013, agreed to extend until
January 1, 2020 the maturity date of a promissory note previously issued by the Company to Mr. Shealy, with an original principal
amount of $250,000, bearing interest at a rate of 10% per annum, without changing any other terms of the promissory note. The
largest aggregate amount of principal outstanding during 2015 was $193,453, the total amount of principal paid during 2015 was
$28,654, the total amount of interest paid during 2015 was $16,559, and the amount outstanding as of March 25, 2016 is $156,520.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">On
December 31, 2014, Intellinetics and Jackie Chretien, a person related to the President &amp; CEO of the Company, agreed to extend
until January 1, 2016 the maturity date of a promissory note previously issued by the Company to Ms. Chretien, with an original
principal balance of $80,000, without changing any other terms of that promissory note. On January 1, 2016, the Company repaid
in full the outstanding principal and accrued interest on this note.&nbsp; The largest aggregate amount of principal outstanding
during 2015 was $15,000, the amount outstanding as of March 25, 2016 is $0, the total amount of principal paid during 2015 was
$0, and the total amount of interest paid during 2015 was $0.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">On
December 31, 2014, Intellinetics and A. Michael Chretien, Secretary of the Company and VP for Compliance, agreed to extend until
January 1, 2016 the maturity date of a promissory note previously issued by the Company to Mr. Chretien, without changing any
other terms of that promissory note. On January 1, 2016, the Company repaid in full the outstanding principal and accrued interest
on this note.&nbsp; The largest aggregate amount of principal outstanding during 2015 was $40,415, the amount outstanding as of
March 25, 2016 is $0, the total amount of principal paid during 2015 was $0, and the total amount of interest paid during 2015
was $0.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
following convertible notes were issued by the Company to directors, officers, and shareholders holding more than 5% beneficial
ownership of the Company&rsquo;s common stock. The terms for all of the following notes provide for interest at an annual rate
of 10% until the maturity date of December 31, 2015. Pursuant to the terms of each note and in accordance with the Note Exchange
(detailed below), the noteholders converted the notes into shares of common stock, par value $0.001 per share, of the Company
at a conversion rate set forth below. Any notes not paid or converted by their maturity date would have accrued interest at the
annual rate of 12% from the maturity date until the date the notes were repaid in full. Any interest not paid quarterly also accrued
interest at the annual rate of 12%.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Name
    and Affiliation to Company</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Date
    of&nbsp; Note</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Conversion
    Rate per Share</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Original
    Principal&nbsp; Balance of Note</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Largest
    aggregate amount of principal outstanding during 2015</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Amount
    outstanding as of March 28, 2016 (principal and interest)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Amount
    of principal paid during 2015*</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Amount
    of interest paid during 2015*</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Matthew L. Chretien&nbsp;<BR>
    Officer and Director</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">6/10/2014</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.56</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">10,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">10,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">10,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">2,715</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Schroeder&nbsp;<BR> Director</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">5/9/2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.56</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">30,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">30,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">30,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">8,696</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">5/9/2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.56</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">30,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">30,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">30,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">8,696</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">5/9/2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.56</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">30,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">30,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">30,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">8,696</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">7/10/2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.56</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">350,534</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">350,534</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">350,534</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">87,509</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">7/10/2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.56</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">350,534</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">350,534</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">350,534</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">87,509</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #333333"><FONT STYLE="color: Black">*
Principal and interest were converted to equity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
following convertible notes were issued by the Company to directors, officers, and shareholders holding more than 5% beneficial
ownership of the Company&rsquo;s common stock. The terms for all of the following notes provide for interest at an annual rate
of 6% until the maturity date of December 31, 2015. Pursuant to the terms of each note and in accordance with the Note Exchange
(detailed below), the noteholders converted the notes into shares of common stock, par value $0.001 per share, of the Company
at a conversion rate set forth below. Any notes not paid or converted by their maturity date would have accrued interest at the
annual rate of 12% from the maturity date until the date the notes were repaid in full. Any interest not paid quarterly also accrued
interest at the annual rate of 12%.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: justify; text-indent: 0.75in"><FONT STYLE="color: Black">&nbsp;&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Name
    and Affiliation to Company</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Date
    of Note</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Conversion
    Rate per Share</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Original
    Principal Balance of&nbsp;Note</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Largest
    aggregate amount of principal&nbsp;outstanding during 2015</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Amount
    outstanding as of March 28, 2016 (principal and interest)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Amount
    of principal paid during 2015*</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Amount
    of interest paid during 2015*</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Schroeder&nbsp;<BR>
    Director</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">10/9/2014</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.30</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">15,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">15,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">15,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">4,369</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">10/9/2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">80,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">80,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">80,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">23,303</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">12/17/2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">100,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">100,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">100,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">22,323</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">2/10/2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">8,786</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">3/11/2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">7,595</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">10/9/2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">80,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">80,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">80,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">23,303</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">12/17/2014</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">100,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">100,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">100,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">22,323</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">2/10/2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">8,786</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">3/11/2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">7,595</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #333333"><FONT STYLE="color: Black">*
Principal and interest were converted to equity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
following convertible notes were issued by the Company to directors, officers, and shareholders holding more than 5% beneficial
ownership of the Company&rsquo;s common stock. The terms for all the following notes provide for interest at an annual rate of
10 percent until maturity three months following the effective date, with interest payable quarterly. Pursuant to the terms of
each note and in accordance with the Note Exchange (detailed below), the noteholders converted the notes into shares of common
stock, par value $0.001 per share, of the Company at a conversion rate set forth below. Any notes not paid or converted by their
maturity date would have accrued interest at the annual rate of 12% from the maturity date until the date the notes were repaid
in full. Any interest not paid quarterly also accrued interest at the annual rate of 12%.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;<B>&nbsp;</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Name
    and Affiliation to Company</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Date
    of&nbsp;Note</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Conversion
    Rate per Share</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Original
    Principal Balance of Note</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Largest
    aggregate amount of principal&nbsp;outstanding during 2015</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Amount
    outstanding as of March 28, 2016 (principal and interest)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Amount
    of principal paid during 2015*</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">Amount
    of interest paid during 2015*</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR>
    5% Shareholder</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: center"><FONT STYLE="color: Black">5/20/2015</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.6</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">20,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">20,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">20,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,524</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">6/3/2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.57</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">10,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">10,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">10,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">708</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">6/17/2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.57</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">3,274</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">7/15/2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.54</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">25,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">25,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">25,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,495</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">8/26/15</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.6</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">36,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">36,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">36,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,572</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Michael Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">9/22/15</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.58</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,666</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">5/20/2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.6</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">20,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">20,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">20,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,524</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">6/3/2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.57</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">10,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">10,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">10,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">708</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">6/17/2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.57</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">3,274</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">7/15/2015</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.54</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">25,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">25,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">25,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,495</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">8/26/15</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.6</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">36,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">36,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">36,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,572</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Robert Taglich&nbsp;<BR> 5% Shareholder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">9/22/15</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0.58</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">-0-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,666</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #333333"><FONT STYLE="color: Black">*
Principal and interest were converted to equity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Return to Treasury of Shares
and Issuance of Contingent Warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">On
February 15, 2016, A. Michael Chretien exercised warrants to purchase 500,000 shares of common stock of the Company, from the
Company, at an exercise price of $0.007 per share. These warrants were issued as consideration for A. Michael Chretien returning
to treasury 500,000 shares of common stock he owned in 2013.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">Matthew
L. Chretien continues to hold a four-year warrant, expiring in February 2017, to purchase 500,000 shares of common stock of the
Company, from the Company, at an exercise price of $0.007 per share. These warrants were issued as consideration for Matthew L.
Chretien returning to treasury 500,000 shares of common stock he owned in 2013.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black"><B>Notes payable
due to related parties consist of the following:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">December
    31, 2015</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">December
    31, 2014</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 72%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">The $80,000 Jackie Chretien Note</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 11%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">15,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 11%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">15,000</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">The $55,167 A. Michael Chretien Note</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">40,415</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">40,415</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">The $250,000 Shealy Note</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">45,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Convertible Notes Payable to Robert Schroeder</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">10,000</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Convertibe Note Payable to Matthew Chretien</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">560,534</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Convertible Notes Payable to Michael Taglich</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">560,534</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Convertible Notes Payable to
    Robert Taglich</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">50,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Total notes payable - related party</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">55,415</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">1,281,483</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Less current portion</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">(55,415</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">(1,226,068</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="color: Black">Long-term portion of notes
    payable-related party</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">0</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">55,415</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Sales of Equity to Related Parties</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">Certain
related parties participated in two private placements of securities with investors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">On
December 29, 2015, December 31, 2015, and January 25, 2016, the Company entered into securities purchase agreements with certain
accredited investors, pursuant to which it sold an aggregate of 1,333,333 units at a price of $1.20 per unit. Each unit consisted
of two shares of the Company&rsquo;s common stock, par value $0.001 per share, and a five-year warrant to purchase one share of
the Company&rsquo;s common stock at an exercise price of $0.65 per share (the &ldquo;2015 Offering&rdquo;). The following related
persons participated in the 2015 Offering, on the same terms as all other investors participating in the offering:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Name
    of Investor</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2pt; text-align: center; padding-top: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Relationship
    to the Company</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2pt; text-align: center; padding-top: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Number
    of Units Purchased</FONT></TD><TD STYLE="padding-bottom: 2pt; font-size: 10pt; font-weight: bold; text-align: center; padding-top: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2pt; text-align: center; padding-top: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Date
    of Transaction</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Michael
    Taglich C/F Hope Taglich UGMA</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Assets
    held for the benefit of a family member of Michael Taglich, who beneficially owns more than 5% of the common stock of the
    Company.</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">25,000.0</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">12/29/2015</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Michael Taglich
    Cust for Lucy Taglich UTMA NY</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Assets held
    for the benefit of a family member of Michael Taglich, who beneficially owns more than 5% of the common stock of the Company.</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">25,000.0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">12/29/2015</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="color: Black">Michael Taglich Custodian FBO Amanda Taglich UTMA NY</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="color: Black">until age 21</FONT></P></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Assets held
    for the benefit of a family member of Michael Taglich, who beneficially owns more than 5% of the common stock of the Company.</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">25,000.0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">12/29/2015</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="color: Black">Michael Taglich Custodian FBO Stella Taglich UTMA</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="color: Black">until age 21</FONT></P></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Assets held
    for the benefit of a family member of Michael Taglich, who beneficially owns more than 5% of the common stock of the Company.</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">25,000.0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">12/29/2015</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Murray H.
    Gross</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Director and
    Chairman of the Board; Beneficially owns more than 5% of the common stock of the Company.</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">10,000.0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">1/25/2016</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Michael N.
    Taglich</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">Beneficially
    owns more than 5% of the common stock of the Company.</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">12,599.0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: Black">1/25/2016</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">On
December 31, 2015 and January 6, 2016, the Company entered into note purchase agreements with certain accredited investors, pursuant
to which it exchanged convertible notes with an aggregate principal and accrued interest balance of $2,632,684.67 into 1) shares
of the Company&rsquo;s common stock, par value, $0.001 per share at the conversion rate set forth therein for each note (as detailed
above), and 2) an amount of warrants equal to 50% of the principal and accrued interest converted for each note, divided by 0.6
(the 2015 Note Exchange&rdquo;). Such warrants were five-year warrants to purchase shares of common stock at an exercise price
of $0.65 per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black"><B>Name of Investor</B></FONT></TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>Relationship
    to the Company</B></FONT></TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>Amount
    of Principal and Interest Converted</B></FONT></TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>Date
    of Transaction</B></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; width: 25%; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">Michael N. Taglich</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 50%; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">Beneficially
    owns more than 5% of the common stock of the Company.</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; padding-bottom: 8pt; text-align: right"><FONT STYLE="font-size: 10pt; color: Black">1,019,984.99</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">12/31/2015</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">Robert F. Taglich</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">Beneficially owns more than
    5% of the common stock of the Company.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt; text-align: right"><FONT STYLE="font-size: 10pt; color: Black">1,019,984.99</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">12/31/2015</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">Robert C. Schroeder</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">Director;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt; text-align: right"><FONT STYLE="font-size: 10pt; color: Black">58,065.21</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">12/31/2015</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">Murray H. Gross</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">Director; Chairman of the
    Board; Beneficially owns more than 5% of the common stock of the Company.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt; text-align: right"><FONT STYLE="font-size: 10pt; color: Black">63,802.74</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">12/31/2015</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">Matthew L. Chretien</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">Director; President &amp;
    CEO; Beneficially owns more than 5% of the common stock of the Company.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt; color: Black">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt; text-align: right"><FONT STYLE="font-size: 10pt; color: Black">12,714.52</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">12/31/2015</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Service Provider Equity</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">On
September 29, 2014, Murray H. Gross received 89,285 restricted shares of Company common stock as compensation for consulting services
provided to the Company. Murray H. Gross was not a related party to the Company at the time of this transaction, but he has subsequently
become a Director and Chairman of the Board of the Company (on April 30, 2015).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Indemnification of Officers and
Directors</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
Nevada General Corporation Law and our bylaws provide for the indemnification of directors, officers and certain other persons
in the circumstances outlined below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; background-color: white"><FONT STYLE="color: Black"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt"><FONT STYLE="color: Black"><I>Actions other than by
the Company</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
Company may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed
action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the
Company, by reason of the fact that such person is or was a director, officer, employee or agent of the Company, or is or was
serving at the request of the Company as a director, officer, employee or agent of another corporation or other entity, against
expenses, including attorneys&rsquo; fees, judgments, fines and amounts paid in settlement, actually and reasonably incurred by
such person in connection with the action, suit or proceeding if (i) such person is not liable for a breach of fiduciary duty
involving intentional misconduct, fraud or a knowing violation of the law, or (ii) such person acted in good faith and in a manner
which such person reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal
action or proceeding, had no reasonable cause to believe that his or her conduct was unlawful. The termination of any action,
suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, does not,
of itself, create a presumption that the person (i) was liable for a breach of fiduciary duty involving intentional misconduct,
fraud or a knowing violation of the law, or (ii) did not act in good faith and in a manner which such person reasonably believed
to be in or not opposed to the best interests of the Company, and that, with respect to any criminal action or proceeding, such
person had reasonable cause to believe that his or her conduct was unlawful.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black"><I></I></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt"><FONT STYLE="color: Black"><I>Actions by the Company</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
Company may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed
action or suit by or in the right of the Company to procure a judgment in its favor by reason of the fact that such person is
or was a director, officer, employee or agent of the Company, or is or was serving at the request of the Company as a director,
officer, employee or agent of another corporation or other entity, against expenses, including amounts paid in settlement and
attorneys&rsquo; fees actually and reasonably incurred by such person in connection with the defense or settlement of the action
or suit if (i) such person is not liable for a breach of fiduciary duty involving intentional misconduct, fraud or a knowing violation
of the law, or (ii) such person acted in good faith and in a manner which such person reasonably believed to be in or not opposed
to the best interests of the Company. Indemnification may not be made for any claim, issue or matter as to which such person has
been adjudged by a court of competent jurisdiction to be liable to the Company or for amounts paid in settlement to the Company,
unless and only to the extent that the court in which the action or suit was brought or other court of competent jurisdiction
determines upon application that in view of all the circumstances of the case, the person is fairly and reasonably entitled to
indemnity for such expenses as the court deems proper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt"><FONT STYLE="color: Black"><I>Successful Defense</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">To
the extent that a director, officer, employee or agent of the Company has been successful on the merits or otherwise in defense
of any action, suit or proceeding referred to above, or in defense of any claim, issue or matter therein, he or she must be indemnified
by the Company against expenses, including attorneys&rsquo; fees, actually and reasonably incurred by such person in connection
with the defense.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt"><FONT STYLE="color: Black"><I>Required Approval</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">Any
discretionary indemnification, unless ordered by a court, must be made by the Company only as authorized in the specific case
upon a determination that indemnification of a director, officer, employee or agent is proper in the circumstances. The determination
must be made by (i) the stockholders, (ii) by the board of directors by a majority vote of a quorum consisting of directors who
were not parties to the action, suit or proceeding, (iii) if a majority of a quorum consisting of directors who were not parties
to the action, suit or proceeding so orders, by independent legal counsel in a written opinion, or (iv) if a quorum consisting
of directors who were not parties to the action, suit or proceeding cannot be obtained, by independent legal counsel in a written
opinion.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt"><FONT STYLE="color: Black"><I>Advance of Expenses</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
articles of incorporation, the bylaws, or an agreement made by the Company may provide that the expenses of officers and directors
incurred in defending a civil or criminal action, suit or proceeding must be paid by the Company as they are incurred and in advance
of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on behalf of the officer or director
to repay the amount if it is ultimately determined by a court of competent jurisdiction that he or she is not entitled to be indemnified
by the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt"><FONT STYLE="color: Black"><I>Other Rights</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
indemnification provisions above and the advancement of expenses (i) do not exclude any other rights to which a person seeking
indemnification or advancement of expenses may be entitled for either an action in his or her official capacity or an action in
another capacity while holding office, except that indemnification, unless ordered by a court or for the advancement of expenses,
may not be made to or on behalf of any director or officer if a final adjudication establishes that his or her acts or omissions
involved intentional misconduct, fraud or a knowing violation of the law and were material to the cause of the action, and (ii)
continue for a person who has ceased to be a director, officer, employee or agent and inures to the benefit of the heirs, executors
and administrators of such person.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">Intellinetics
has obtained liability insurance for its directors and officers covering, subject to exceptions, any actual or alleged negligent
act, error, omission, misstatement, misleading statement, neglect or breach of duty by such directors or officers, individually
or collectively, in the discharge of their duties in their capacities as directors and officers of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt"><FONT STYLE="color: Black"><B>Review, Approval or Ratification
of Transactions with Related Persons</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
written charter for the audit committee requires that all transactions between the Company and any related person (as defined
in Item 404 of Regulation S-K) be reviewed, approved, and overseen by the audit committee, which is comprised of independent directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt"><FONT STYLE="color: Black"><B>Promoters and Certain
Control Persons</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;Robert
C. Schroeder, a director of the Company, is the Vice President of Investment Banking at Taglich Brothers, Inc. Robert F. Taglich
and Michael N. Taglich, each beneficial owners of more than 10% of the Company&rsquo;s common stock, are also both principals
of Taglich Brothers, Inc. In July 2014, the Company retained Taglich Brothers, Inc. as a placement agent for the sale of the convertible
notes, which sale concluded a private offering of debt in the amount of $500,000. In connection with the Offering, the Company
paid Taglich Brothers, Inc. in the form of a convertible note with a principal amount of $10,800 (with terms identical to the
Convertible Notes sold in the offering), which represented an 8% commission of the gross proceeds. In addition, Taglich Brothers,
Inc. earned warrants to purchase 24,107 shares of common stock, which represented 10% of the shares of common stock into which
the Convertible Notes sold in the offering could be converted into at $0.56 per share, which have an exercise price of $0.56 per
share of common stock, will be exercisable for a period of four years, contain customary cashless exercise and anti-dilution protection
and are entitled to registration rights.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">The
Company also retained Taglich Brothers, Inc. as the exclusive placement agent for a private offering of securities (common stock
and warrants) on December 29, 2015, December 31, 2015, and January 25, 2016 (the &ldquo;Private Placement&rdquo;), as well as
a private offering of securities involving the conversion of outstanding Company convertible notes in exchange for stock and warrants
(the &ldquo;Note Exchange&rdquo;). In connection with the offering, the Company paid Taglich Brothers, Inc. a cash payment of
$&nbsp;370,614, which represented an&nbsp;8&nbsp;% commission of the&nbsp;gross proceeds of the Private Placement and 8% commission
of the total amount of principal and interest converted in the Note Exchange, and approximately $&nbsp;30,000&nbsp;for reimbursement
for reasonable out of pocket expenses, FINRA filing fees and related&nbsp;legal fees. In addition, the Company issued warrants
to the designees of Taglich Brothers, Inc. to purchase&nbsp;910,216 shares of common stock, which represented&nbsp;10&nbsp;% of&nbsp;the
shares of common stock sold in the Private Placement, and 10% of the shares of common stock issued in the Note Exchange. The warrants
have an exercise price of $&nbsp;0.715 per share of&nbsp;common stock, will be exercisable for a period of five years, contain
customary cashless exercise and anti-dilution protection and are entitled to registration rights.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Director Independence</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="color: Black">In
accordance with Rule 407(c)(a)(ii) of Regulation S-K, we are not a listed issuer and we use the definition of independence as
set forth in Rule 10A-3 of the Securities Exchange Act of 1934 and the rules of the NASDAQ Stock Market. We are a smaller reporting
company with a small number of directors. Currently we have independent directors as a majority of our Board. It is anticipated
that, in the near future, the board of directors will recruit additional independent directors to join the Board and also our
Board committees. The charters our compensation committee, audit committee, and nomination and corporate governance committees
require that all members of each committee be independent. Currently, Robert C. Schroeder, Rye D&rsquo;Orazio, Murray Gross, and
Sophie Pibouin serve as our independent directors, and collectively they comprise 100% of the membership of the audit, compensation,
and nomination and corporate governance committees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>ITEM 14.</B></FONT></TD>
    <TD STYLE="width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>PRINCIPAL
    ACCOUNTING FEES AND SERVICES</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>Independent Registered
Public Accountants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black">Our independent registered
public accountants were GBP Partners LLC during 2015 and 2014. The following table presents fees for professional services provided
by GBQ Partners LLC for audit services and other services rendered to us during the fiscal years ended December 31, 2015 and 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>GBQ
Partners LLC</B></FONT></P></TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; text-align: center; border-bottom: Black 1pt solid"><B>2015</B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: center"><B>&nbsp;</B></TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt; text-align: center"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; text-align: center; border-bottom: Black 1pt solid"><B>2014</B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 72%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left; padding-bottom: 1pt">Audit
    Fees</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left">$</TD><TD STYLE="width: 10%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right">75,178</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left">$</TD><TD STYLE="width: 10%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right">72,927</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left; padding-bottom: 1pt">Audit-Related Fees</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left; padding-bottom: 1pt">All Other Fees</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left; padding-bottom: 1pt">Total Fees</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right">75,178</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right">72,927</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>Audit Fees</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black">This category includes fees
associated with our annual audit and the reviews of our quarterly reports on Form 10-Q. This category also includes fees associated
with advice on audit and accounting matters that arose during, or as a result of, the audit or the review of our interim financial
statements, statutory audits, and services related to Securities and Exchange Commission registration statements and filings.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>Audit-Related Fees</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black">This category includes fees
associated with employee benefit plan audits, internal control reviews, accounting consultations, and attestation services that
are not required by statute or regulation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>Tax Fees</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black">We did not engage GBQ Partners
for tax planning for merger and acquisition activities, tax consultations, the review of income tax returns and assistance with
state tax examinations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>All Other Fees</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black">We did not engage GBQ Partners
to provide any information technology services or any other services during the fiscal years ended December 31, 2015 and 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>Pre-Approval Policies
and Procedures</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black">Our Audit Committee specifically
approved the audit and audit-related services performed GBQ Partners for the periods ended December 31, 2015 and 2014, when applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: Black">For the fiscal year ending
December 31, 2015, our Audit Committee pre-approved audit-related and non-audit related services not prohibited by law to be performed
by our independent registered public accountants and associated fees. Audit Committee pre-approval of audit and non-audit services
will not be required if the engagement for the services is entered into pursuant to pre-approval policies and procedures established
by the Audit Committee regarding the Company&rsquo;s engagement of the independent auditor, provided the policies and procedures
are detailed as to the particular service, the Audit Committee is informed of each service provided and such policies and procedures
do not include delegation of the Audit Committee&rsquo;s responsibilities to the Company&rsquo;s management. The Audit Committee
may delegate to one or more designated members of the Audit Committee the authority to grant pre-approvals, provided such approvals
are presented to the Audit Committee at a subsequent meeting. If the Audit Committee elects to establish pre-approval policies
and procedures regarding non-audit services, the Audit Committee must be informed of each non-audit service provided by the independent
auditor. Audit Committee pre-approval of non-audit services (other than review and attestation services) also will not be required
if such services fall within available exceptions established by the SEC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><FONT STYLE="color: Black"></FONT><B>PART
IV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>Item 15.</B></FONT></TD>
    <TD STYLE="width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>Exhibits,
    Financial Statement Schedules</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Exhibit</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>No.</B></FONT></P></TD>
    <TD STYLE="width: 2%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 80%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>Description</B></FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">*31.1</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Certification
    of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">*31.2</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Certification
    of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.75in; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">*filed herewith</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black"></FONT></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Signatures</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="color: Black">Pursuant to
the requirements of Section&nbsp;13 or 15(d)&nbsp;of the Securities Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned, thereunto duly authorized, on April 29, 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Intellinetics, Inc.</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 50%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD NOWRAP><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">By:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">/s/&nbsp;&nbsp;Matthew
    L. Chretien</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Matthew
        L. Chretien</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>President,
        Chief Executive Officer and Director</B></FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0in"><FONT STYLE="color: Black">Pursuant to the requirements of
the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and
in the capacities indicated on April 29, 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 49%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>Name</B></FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>Title</B></FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">/s/&nbsp;&nbsp;Matthew
    L. Chretien</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">President, Chief Executive
    Officer, Chief Technology Officer,&nbsp;&nbsp;Treasurer, and Director</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>Matthew L. Chretien</B></FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">/s/&nbsp;&nbsp;Kendall
    D. Gill</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">Chief Financial Officer</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>Kendall D. Gill</B></FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">/s/&nbsp;&nbsp;A.
    Michael Chretien</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">Secretary</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>A. Michael Chretien</B></FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">/s/&nbsp;&nbsp;Murray
    H. Gross</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">Chairman of the Board, and
    Director</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>Murray H Gross</B></FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: Black">/s/&nbsp;&nbsp;Rye D&rsquo;Orazio</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">Director</FONT></TD></TR>
<TR>
    <TD STYLE="border-top: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>Rye
    D&rsquo;Orazio</B></FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">/s/&nbsp;&nbsp;Robert
    Schroeder</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">Director</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>Robert Schroeder</B></FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">/s/&nbsp;&nbsp;Sophie
    Pibouin</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">Director</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>Sophie Pibouin</B></FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>EXHIBIT
INDEX</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Exhibit</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>No.</B></FONT></P></TD>
    <TD STYLE="width: 2%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 88%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">*31.1</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Certification
    of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">*31.2</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Certification
    of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.75in; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">*filed herewith</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>



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<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>v438154_ex31-1.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 31.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Certification Pursuant to Section 302
of the Sarbanes-Oxley Act of 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Matthew L. Chretien, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. I have reviewed this report on Form 10-K/A of Intellinetics,
Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all material respects the financial condition, results of operations
and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. The registrant&rsquo;s other certifying officer and I are
responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">a) Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the
period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">b) Designed such internal control over financial reporting,
or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c) Evaluated the effectiveness of the registrant&rsquo;s disclosure
controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">d) Disclosed in this report any change in the registrant&rsquo;s
internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s
fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect,
the registrant&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5. The registrant&rsquo;s other certifying officer and I have
disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors
and the audit committee of registrant&rsquo;s board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">a) All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s
ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">b) Any fraud, whether or not material, that involves management
or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April 29, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By: <U>/s/ Matthew L. Chretien</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">President and Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>



<P STYLE="margin: 0"></P>

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<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>v438154_ex31-2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 31.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Certification Pursuant to Section 302
of the Sarbanes-Oxley Act of 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Kendall D. Gill, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. I have reviewed this report on Form 10-K/A of Intellinetics,
Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all material respects the financial condition, results of operations
and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. The registrant&rsquo;s other certifying officer and I are
responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">a) Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the
period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">b) Designed such internal control over financial reporting,
or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c) Evaluated the effectiveness of the registrant&rsquo;s disclosure
controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">d) Disclosed in this report any change in the registrant&rsquo;s
internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s
fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect,
the registrant&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5. The registrant&rsquo;s other certifying officer and I have
disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors
and the audit committee of registrant&rsquo;s board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">a) All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s
ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">b) Any fraud, whether or not material, that involves management
or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April 29, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By: <U>/s/ Kendall D. Gill</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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