<SEC-DOCUMENT>0001213900-17-002859.txt : 20170328
<SEC-HEADER>0001213900-17-002859.hdr.sgml : 20170328
<ACCEPTANCE-DATETIME>20170327215300
ACCESSION NUMBER:		0001213900-17-002859
CONFORMED SUBMISSION TYPE:	1-A POS
PUBLIC DOCUMENT COUNT:		12
FILED AS OF DATE:		20170328
DATE AS OF CHANGE:		20170327

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MYOMO INC
		CENTRAL INDEX KEY:			0001369290
		STANDARD INDUSTRIAL CLASSIFICATION:	ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		1-A POS
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	024-10662
		FILM NUMBER:		17716673

	BUSINESS ADDRESS:	
		STREET 1:		ONE BROADWAY
		STREET 2:		14TH FLOOR
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142
		BUSINESS PHONE:		617-996-9058

	MAIL ADDRESS:	
		STREET 1:		ONE BROADWAY
		STREET 2:		14TH FLOOR
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142
</SEC-HEADER>
<DOCUMENT>
<TYPE>1-A POS
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/rega/oneafiler" xmlns:ns1="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>1-A POS</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001369290</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
        <offeringFileNumber>024-10662</offeringFileNumber>
      </filer>
    </filerInfo>
  </headerData>
  <formData>
    <employeesInfo>
      <issuerName>Myomo, Inc.</issuerName>
      <jurisdictionOrganization>DE</jurisdictionOrganization>
      <yearIncorporation>2004</yearIncorporation>
      <cik>0001369290</cik>
      <sicCode>3842</sicCode>
      <irsNum>47-0944526</irsNum>
      <fullTimeEmployees>19</fullTimeEmployees>
      <partTimeEmployees>4</partTimeEmployees>
    </employeesInfo>
    <issuerInfo>
      <street1>ONE BROADWAY</street1>
      <street2>14TH FLOOR</street2>
      <city>CAMBRIDGE</city>
      <stateOrCountry>MA</stateOrCountry>
      <zipCode>02142</zipCode>
      <phoneNumber>877-736-9666</phoneNumber>
      <connectionName>Paul Gudonis</connectionName>
      <industryGroup>Other</industryGroup>
      <cashEquivalents>797174.00</cashEquivalents>
      <investmentSecurities>0.00</investmentSecurities>
      <accountsReceivable>114506.00</accountsReceivable>
      <propertyPlantEquipment>21563.00</propertyPlantEquipment>
      <totalAssets>1658252.00</totalAssets>
      <accountsPayable>994527.00</accountsPayable>
      <longTermDebt>4578219.00</longTermDebt>
      <totalLiabilities>6516467.00</totalLiabilities>
      <totalStockholderEquity>-4858215.00</totalStockholderEquity>
      <totalLiabilitiesAndEquity>1658252.00</totalLiabilitiesAndEquity>
      <totalRevenues>1103277.00</totalRevenues>
      <costAndExpensesApplToRevenues>282164.00</costAndExpensesApplToRevenues>
      <depreciationAndAmortization>7731.00</depreciationAndAmortization>
      <netIncome>-3617022.00</netIncome>
      <earningsPerShareBasic>-4.13</earningsPerShareBasic>
      <earningsPerShareDiluted>-4.13</earningsPerShareDiluted>
      <nameAuditor>Marcum LLP</nameAuditor>
    </issuerInfo>
    <commonEquity>
      <commonEquityClassName>Common Stock</commonEquityClassName>
      <outstandingCommonEquity>1124080</outstandingCommonEquity>
      <commonCusipEquity>62857J 10</commonCusipEquity>
      <publiclyTradedCommonEquity>N/A</publiclyTradedCommonEquity>
    </commonEquity>
    <preferredEquity>
      <preferredEquityClassName>Series A-1 Preferred Stock</preferredEquityClassName>
      <outstandingPreferredEquity>960083</outstandingPreferredEquity>
      <preferredCusipEquity>000000000</preferredCusipEquity>
      <publiclyTradedPreferredEquity>N/A</publiclyTradedPreferredEquity>
    </preferredEquity>
    <preferredEquity>
      <preferredEquityClassName>Series B-1 Preferred Stock</preferredEquityClassName>
      <outstandingPreferredEquity>1662104</outstandingPreferredEquity>
      <preferredCusipEquity>000000000</preferredCusipEquity>
      <publiclyTradedPreferredEquity>N/A</publiclyTradedPreferredEquity>
    </preferredEquity>
    <debtSecurities>
      <debtSecuritiesClassName>MLSC Notes</debtSecuritiesClassName>
      <outstandingDebtSecurities>1193984</outstandingDebtSecurities>
      <cusipDebtSecurities>000000000</cusipDebtSecurities>
      <publiclyTradedDebtSecurities>N/A</publiclyTradedDebtSecurities>
    </debtSecurities>
    <debtSecurities>
      <debtSecuritiesClassName>Convertible Notes</debtSecuritiesClassName>
      <outstandingDebtSecurities>3204000</outstandingDebtSecurities>
      <cusipDebtSecurities>000000000</cusipDebtSecurities>
      <publiclyTradedDebtSecurities>N/A</publiclyTradedDebtSecurities>
    </debtSecurities>
    <debtSecurities>
      <debtSecuritiesClassName>Convertible Notes</debtSecuritiesClassName>
      <outstandingDebtSecurities>876458</outstandingDebtSecurities>
      <cusipDebtSecurities>000000000</cusipDebtSecurities>
      <publiclyTradedDebtSecurities>N/A</publiclyTradedDebtSecurities>
    </debtSecurities>
    <issuerEligibility>
      <certifyIfTrue>true</certifyIfTrue>
    </issuerEligibility>
    <applicationRule262>
      <certifyIfNotDisqualified>true</certifyIfNotDisqualified>
    </applicationRule262>
    <summaryInfo>
      <indicateTier1Tier2Offering>Tier2</indicateTier1Tier2Offering>
      <financialStatementAuditStatus>Audited</financialStatementAuditStatus>
      <securitiesOfferedTypes>Equity (common or preferred stock)</securitiesOfferedTypes>
      <offerDelayedContinuousFlag>Y</offerDelayedContinuousFlag>
      <offeringYearFlag>N</offeringYearFlag>
      <offeringAfterQualifFlag>N</offeringAfterQualifFlag>
      <offeringBestEffortsFlag>Y</offeringBestEffortsFlag>
      <solicitationProposedOfferingFlag>Y</solicitationProposedOfferingFlag>
      <resaleSecuritiesAffiliatesFlag>N</resaleSecuritiesAffiliatesFlag>
      <securitiesOffered>2000000</securitiesOffered>
      <outstandingSecurities>1124920</outstandingSecurities>
      <pricePerSecurity>7.5000</pricePerSecurity>
      <issuerAggregateOffering>15000000.00</issuerAggregateOffering>
      <securityHolderAggegate>0.00</securityHolderAggegate>
      <qualificationOfferingAggregate>0.00</qualificationOfferingAggregate>
      <concurrentOfferingAggregate>0.00</concurrentOfferingAggregate>
      <totalAggregateOffering>15000000.00</totalAggregateOffering>
      <salesCommissionsServiceProviderName>TriPoint Global Equities, LLC</salesCommissionsServiceProviderName>
      <salesCommissionsServiceProviderFees>1125000.00</salesCommissionsServiceProviderFees>
      <auditorServiceProviderName>Marcum LLP</auditorServiceProviderName>
      <auditorFees>65000.00</auditorFees>
      <legalServiceProviderName>Duane Morris LLP</legalServiceProviderName>
      <legalFees>145000.00</legalFees>
      <promotersServiceProviderName>CrowdfundX</promotersServiceProviderName>
      <promotersFees>250000.00</promotersFees>
      <brokerDealerCrdNumber>143174</brokerDealerCrdNumber>
      <estimatedNetAmount>13325000.00</estimatedNetAmount>
      <clarificationResponses>Assumes sale of $15,000,000 of shares.</clarificationResponses>
    </summaryInfo>
    <juridictionSecuritiesOffered>
      <jurisdictionsOfSecOfferedSame>true</jurisdictionsOfSecOfferedSame>
      <issueJuridicationSecuritiesOffering>AL</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>AK</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>AZ</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>AR</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>CA</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>CO</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>CT</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>DE</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>FL</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>GA</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>HI</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>ID</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>IL</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>IN</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>IA</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>KS</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>KY</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>LA</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>ME</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>MD</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>MA</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>MI</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>MN</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>MS</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>MO</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>MT</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>NE</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>NV</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>NH</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>NJ</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>NM</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>NY</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>NC</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>ND</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>OH</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>OK</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>OR</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>PA</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>RI</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>SC</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>SD</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>TN</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>TX</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>UT</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>VT</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>VA</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>WA</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>WV</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>WI</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>WY</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>DC</issueJuridicationSecuritiesOffering>
      <issueJuridicationSecuritiesOffering>PR</issueJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>AL</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>AK</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>AZ</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>AR</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>CA</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>CO</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>CT</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>DE</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>FL</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>GA</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>HI</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>ID</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>IL</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>IN</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>IA</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>KS</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>KY</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>LA</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>ME</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>MD</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>MA</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>MI</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>MN</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>MS</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>MO</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>MT</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>NE</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>NV</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>NH</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>NJ</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>NM</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>NY</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>NC</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>ND</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>OH</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>OK</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>OR</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>PA</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>RI</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>SC</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>SD</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>TN</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>TX</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>UT</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>VT</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>VA</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>WA</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>WV</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>WI</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>WY</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>DC</dealersJuridicationSecuritiesOffering>
      <dealersJuridicationSecuritiesOffering>PR</dealersJuridicationSecuritiesOffering>
    </juridictionSecuritiesOffered>
    <securitiesIssued>
      <securitiesIssuerName>Myomo, Inc.</securitiesIssuerName>
      <securitiesIssuerTitle>Convertible Promissory Notes</securitiesIssuerTitle>
      <securitiesIssuedTotalAmount>10000</securitiesIssuedTotalAmount>
      <securitiesPrincipalHolderAmount>0</securitiesPrincipalHolderAmount>
      <securitiesIssuedAggregateAmount>$10,000 in cash proceeds</securitiesIssuedAggregateAmount>
    </securitiesIssued>
    <securitiesIssued>
      <securitiesIssuerName>Myomo, Inc.</securitiesIssuerName>
      <securitiesIssuerTitle>Warrants to Purchase Capital Stock</securitiesIssuerTitle>
      <securitiesIssuedTotalAmount>553800</securitiesIssuedTotalAmount>
      <securitiesPrincipalHolderAmount>0</securitiesPrincipalHolderAmount>
      <securitiesIssuedAggregateAmount>The warrants are exercisable for an amount of shares based on market value and were issued in connection with the convertible promissory notes with principal amount of $5,172,000</securitiesIssuedAggregateAmount>
    </securitiesIssued>
    <securitiesIssued>
      <securitiesIssuerName>Myomo, Inc.</securitiesIssuerName>
      <securitiesIssuerTitle>Convertible Promissory Notes</securitiesIssuerTitle>
      <securitiesIssuedTotalAmount>4142000</securitiesIssuedTotalAmount>
      <securitiesPrincipalHolderAmount>0</securitiesPrincipalHolderAmount>
      <securitiesIssuedAggregateAmount>$4,142,000</securitiesIssuedAggregateAmount>
    </securitiesIssued>
    <securitiesIssued>
      <securitiesIssuerName>Myomo, Inc.</securitiesIssuerName>
      <securitiesIssuerTitle>Stock Options to Purchase Common Stock</securitiesIssuerTitle>
      <securitiesIssuedTotalAmount>178129</securitiesIssuedTotalAmount>
      <securitiesPrincipalHolderAmount>0</securitiesPrincipalHolderAmount>
      <securitiesIssuedAggregateAmount>The stock options were issued for services to the Company rendered by the optionees</securitiesIssuedAggregateAmount>
    </securitiesIssued>
    <unregisteredSecuritiesAct>
      <securitiesActExcemption>Rule 506 of Regulation D and Rule 701 of the Securities Act</securitiesActExcemption>
    </unregisteredSecuritiesAct>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>PART II AND III
<SEQUENCE>2
<FILENAME>f1apos2017_myomoinc.htm
<DESCRIPTION>PRELIMINARY OFFERING CIRCULAR
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"> <B>EXPLANATORY NOTE</B> </P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> This Post-Qualification Offering Circular Amendment No.1
amends the offering circular of Myomo, Inc. as qualified on March 10, 2017, and as may be amended and supplemented from time to
time (the &ldquo;offering circular&rdquo;), to add, update and/or replace information contained in the offering circular. </P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"> <B>Post-Qualification Offering Circular</B> </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"> <B>Amendment No.1</B> </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"> <B>File No. 024-10662</B> </P>



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

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

<P STYLE="margin: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Red">An offering statement
pursuant to Regulation A relating to these securities has been filed with the United States Securities and Exchange Commission.
Information contained in this Preliminary Offering Circular is subject to completion or amendment. These securities may not be
sold nor may offers to buy be accepted before the offering statement filed with the United States Securities and Exchange Commission
is qualified. This Preliminary Offering Circular shall not constitute an offer to sell or the solicitation of an offer to buy
nor may there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful before
registration or qualification under the laws of any such state. We may elect to satisfy our obligation to deliver a Final Offering
Circular by sending you a notice within two business days after the completion of our sale to you that contains the URL where
the Final Offering Circular or the offering statement in which such Final Offering Circular was filed may be obtained.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PART&nbsp;II
&mdash; INFORMATION REQUIRED IN OFFERING CIRCULAR</B></FONT></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 75%; font: 10pt Calibri, Helvetica, Sans-Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red"><B>Preliminary
    Offering Circular (Subject to Completion)</B></FONT> </TD>
    <TD STYLE="width: 25%; font: 10pt Calibri, Helvetica, Sans-Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red"><B>Dated
    &nbsp;March 27, 2017</B></FONT> </TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>2,000,000
Shares of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

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





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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">This is the initial public offering of securities of Myomo,
Inc., a Delaware corporation (the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;our&rdquo; and &ldquo;us&rdquo;). We are offering
2,000,000 shares of our common stock, par value $0.0001 (&ldquo;Common Stock&rdquo;), at an offering price of $7.50 per share
(the &ldquo;Shares&rdquo;) for an offering amount of $15,000,000 (the &ldquo;Offering&rdquo;). The Offering will terminate at
the earlier of: (1) the date at which $15,000,000 of Shares has been sold, (2) the date which is one year after this Offering
being qualified by the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo; or the &ldquo;Commission&rdquo;), or (3)
the date on which this Offering is earlier terminated by the Company in its sole discretion (the &ldquo;Termination Date&rdquo;).
This Offering is being conducted on a &ldquo;best efforts&rdquo; basis without any minimum offering amount pursuant to Regulation
A of Section 3(6) of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), for Tier 2 offerings. The Company
may undertake one or more closings on a rolling basis; however, it intends to complete one closing. Until we complete a closing,
the proceeds for the Offering will be kept in an escrow account, except with respect to those investors using a BANQ online brokerage
account. At a closing, the proceeds will be distributed to the Company and the associated Shares will be issued to the investors
in such Shares. If there are no closings or if funds remain in the escrow account upon termination of this Offering without any
corresponding closing, the investments for this Offering will be promptly returned to investors, without deduction and generally
without interest. Wilmington Trust, N.A. will serve as the escrow agent. There is no minimum purchase requirement for an investor.</P>







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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TriPoint
Global Equities, LLC has agreed to act as our exclusive, lead managing selling agent (the &ldquo;Selling Agent&rdquo;) to offer
the Shares to prospective investors on a &ldquo;best efforts&rdquo; basis. In addition, the Selling Agent may engage one or more
sub selling agents or selected dealers. The Selling Agent is not purchasing the Shares, and is not required to sell any specific
number or dollar amount of the Shares in the Offering.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
effective July 20, 2016, we entered into an agreement with WhoYouKnow LLC, a California limited liability company, d/b/a CrowdfundX
(&ldquo;Consultant&rdquo;), whereby the Consultant agreed to assist in the planning, public relations and promotion of this Offering,
utilizing the BANQ website, which is provided by the Selling Agent, as an offering platform.</FONT></P>

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid">&nbsp;</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> We expect to commence the offer and sale of the Shares as of
the date on which the offering statement of which this Offering Circular is a part (the &ldquo;Offering Statement&rdquo;) is qualified
by the SEC. Prior to this Offering, there has been no public market for our Common Stock. We have applied to list our Common Stock
on the NYSE MKT LLC (&ldquo;NYSE MKT&rdquo;) under the symbol &ldquo;MYO.&rdquo; We expect our Common Stock to begin trading on
the NYSE MKT upon consummation of the Offering. In connection with our application, on December 20, 2016, we consummated a reverse
stock split of our capital stock at a ratio of 1-for-16 such that each stockholder now holds one share of capital stock for each
sixteen shares of capital stock held prior to the reverse stock split. </P>



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





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are an &ldquo;emerging growth company&rdquo; as defined in the Jumpstart Our Business Startups Act, or the JOBS Act, and, as such,
we have elected to take advantage of certain reduced reporting requirements for this Offering Circular and future filings after
this Offering. See &ldquo;Risk Factors&rdquo; and &ldquo;Offering Circular Summary &ndash; Implications of Being an &ldquo;Emerging
Growth Company&rdquo;. &ldquo;This Offering Circular follows the disclosure format of Part I of Form S-1 pursuant to the general
instructions of Part II (a)(1)(ii) of Form 1-A.</FONT> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investing
in our Common Stock involves a high degree of risk. See &ldquo;Risk Factors&rdquo; beginning on page 5 for a discussion of certain
risks that you should consider in connection with an investment in our Common Stock.</B></FONT></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Price&nbsp;to&nbsp;Public </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Selling
    Agent Commissions&nbsp;(1) </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Proceeds&nbsp;to <BR>
    Issuer&nbsp;(2) </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> Per Share </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 7.50 </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 0.5626 </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 6.9374 </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"> Maximum Offering Amount </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 15,000,000 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> (3) </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 1,125,000 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 13,325,000 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
</TABLE>



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

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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have agreed to reimburse certain expenses
    to our Selling Agent. Please refer to the section entitled &ldquo;Plan of Distribution&rdquo; in this Offering Circular for
    additional information regarding total Selling Agent compensation.</FONT></TD></TR>
</TABLE>


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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34px; line-height: 107%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">(2)</FONT> </TD>
    <TD STYLE="line-height: 107%; font-size: 10pt"><P STYLE="margin: 0"> We estimate that our total expenses for the Offering
                                         will be approximately $550,000 along with selling agent commissions of $1,125,000, assuming
                                         the maximum offering amount is sold. </P>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34px; line-height: 107%; font-size: 10pt; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">(3)</FONT></TD>
    <TD STYLE="line-height: 107%; font-size: 10pt; padding: 0; text-indent: 0">The Company and the Selling Agent intend to sell
    Shares for aggregate gross proceeds equal to $15,000,000.</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>THE
SEC DOES NOT PASS UPON THE MERITS OF OR GIVE ITS APPROVAL TO ANY SECURITIES OFFERED OR THE TERMS OF THE OFFERING, NOR DOES IT
PASS UPON THE ACCURACY OR COMPLETENESS OF ANY OFFERING CIRCULAR OR OTHER SOLICITATION MATERIALS. THESE SECURITIES ARE OFFERED
PURSUANT TO AN EXEMPTION FROM REGISTRATION WITH THE COMMISSION; HOWEVER, THE SEC HAS NOT MADE AN INDEPENDENT DETERMINATION THAT
THE SECURITIES OFFERED ARE EXEMPT FROM REGISTRATION.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="image_002.jpg" ALT=""></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
date of this Offering Circular is ___________, 2017.</FONT></P>

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

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><A HREF="#toc">Table of Contents</A>&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><A NAME="toc"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>TABLE
OF CONTENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAUTIONARY
    STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</FONT></A></TD>
    <TD STYLE="width: 10%; text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">ii</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OFFERING
    CIRCULAR SUMMARY</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
    OFFERING</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RISK
    FACTORS</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">5</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">USE
    OF PROCEEDS</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAPITALIZATION</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DILUTION</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PLAN
    OF DISTRIBUTION</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><A HREF="#a_009"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT&rsquo;S
    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_010"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OUR
    BUSINESS</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_011"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">50</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_012"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXECUTIVE
    COMPENSATION</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">57</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_013"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CERTAIN
    RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">69</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_014"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECURITY
    OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITY HOLDERS</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">70</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"> <A HREF="#n_001"> <FONT STYLE="font-family: Times New Roman, Times, Serif">DESCRIPTION
    OF SECURITIES</FONT> </A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"> 72 </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_016"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DIVIDEND
    POLICY</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_017"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHARES
    ELIGIBLE FOR FUTURE SALE</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">76</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_018"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LEGAL
    MATTERS</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">77</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_019"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">77</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_020"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHERE
    YOU CAN FIND MORE INFORMATION</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">77</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><A HREF="#a_027"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIGNATURES</FONT></A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">III-2</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_021"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">INDEX
                                         TO FINANCIAL STATEMENTS</FONT></A></P>


</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-1</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are offering to sell, and seeking offers to buy, the Shares only in jurisdictions where such offers and sales are permitted. You
should rely only on the information contained in this Offering Circular. We have not authorized anyone to provide you with any
information other than the information contained in this Offering Circular. The information contained in this Offering Circular
is accurate only as of its date, regardless of the time of its delivery or of any sale or delivery of our securities. Neither
the delivery of this Offering Circular nor any sale or delivery of our securities shall, under any circumstances, imply that there
has been no change in our affairs since the date of this Offering Circular. This Offering Circular will be updated and made available
for delivery to the extent required by the federal securities laws.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless
otherwise indicated, data contained in this Offering Circular concerning the orthotics and prosthetics market and the other markets
relevant to our operations are based on information from various public sources. Although we believe that these data are generally
reliable, such information is inherently imprecise, and our estimates and expectations based on these data involve a number of
assumptions and limitations. As a result, you are cautioned not to give undue weight to such data, estimates or expectations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
this Offering Circular, unless the context indicates otherwise, references to &ldquo;Myomo,&rdquo; &ldquo;we,&rdquo; the &ldquo;Company,&rdquo;
&ldquo;our&rdquo; and &ldquo;us&rdquo; refer to the activities of and the assets and liabilities of the business and operations
of Myomo, Inc.</FONT></P>

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

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

<!-- Field: Page; Sequence: 3; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><A HREF="#toc">Table of Contents</A>&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><A NAME="a_001"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CAUTIONARY
STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Some
of the statements under &ldquo;Offering Circular Summary,&rdquo; &ldquo;Risk Factors,&rdquo; &ldquo;Management&rsquo;s Discussion
and Analysis of Financial Condition and Results of Operations,&rdquo; &ldquo;Our Business&rdquo; and elsewhere in this Offering
Circular constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future
plans and strategies, anticipated events or trends and similar matters that are not historical facts. In some cases, you can identify
forward-looking statements by terms such as &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;could,&rdquo; &ldquo;estimate,&rdquo;
&ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;plan,&rdquo; &ldquo;potential,&rdquo; &ldquo;should,&rdquo;
&ldquo;will&rdquo; and &ldquo;would&rdquo; or the negatives of these terms or other comparable terminology.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
should not place undue reliance on forward looking statements. The cautionary statements set forth in this Offering Circular,
including in &ldquo;Risk Factors&rdquo; and elsewhere, identify important factors which you should consider in evaluating our
forward-looking statements. These factors include, among other things:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to achieve reimbursement from third-party payers for our products;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    dependence upon external sources for the financing of our operations, particularly given that our auditors&rsquo; report for
    our 2016 financial statements, which are included as part of this Offering Circular, contains a statement concerning our ability
    to continue as a &ldquo;going concern;&rdquo;</FONT> </TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to effectively execute our business plan;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our products;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    expectations as to our clinical research program and clinical results;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to improve our products and develop new products;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to manage the growth of our operations over time;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to maintain adequate protection of our intellectual property and to avoid violation of the intellectual property rights
    of others;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to gain and maintain regulatory approvals;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to maintain relationships with existing customers and develop relationships with new customers; and</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to compete and succeed in a highly competitive and evolving industry.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although
the forward-looking statements in this Offering Circular are based on our beliefs, assumptions and expectations, taking into account
all information currently available to us, we cannot guarantee future transactions, results, performance, achievements or outcomes.
No assurance can be made to any investor by anyone that the expectations reflected in our forward-looking statements will be attained,
or that deviations from them will not be material and adverse. We undertake no obligation, other than as maybe be required by
law, to re-issue this Offering Circular or otherwise make public statements updating our forward-looking statements.</FONT></P>

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

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

<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->ii<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><A HREF="#toc">Table of Contents</A>&nbsp;</DIV>
    <!-- Field: /Page -->

<DIV STYLE="margin: 5pt; padding: 5pt; border: Black 1.5pt solid; width: 97%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><A NAME="a_002"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>OFFERING
CIRCULAR SUMMARY</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>This summary highlights selected information contained elsewhere
in this Offering Circular. This summary is not complete and does not contain all the information that you should consider before
deciding whether to invest in our Common Stock. You should carefully read the entire Offering Circular, including the risks associated
with an investment in the Company discussed in the &ldquo;Risk Factors&rdquo; section of this Offering Circular, before making
an investment decision. Some of the statements in this Offering Circular are forward-looking statements. See the section entitled
&ldquo;Cautionary Statement Regarding Forward-Looking Statements.&rdquo;</I></P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Overview</B></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Myomo is a medical device company in the medical robotics
industry, specializing in myoelectric braces (orthotics) for people with neuromuscular disorders. We are the developer of the
MyoPro&reg; product line, which is a myoelectric-controlled upper limb brace (orthosis). The orthosis is a rigid brace used for
the purpose of supporting a patient&rsquo;s weak or deformed arm to enable and improve functional activities of daily living (&ldquo;ADLs&rdquo;)
in the home and community that is available only on a physician&rsquo;s order. It is uniquely constructed by a qualified orthotics
and prosthetics (&ldquo;O&amp;P&rdquo;) practitioner during a custom fabrication process for each individual user to meet their
specific needs. Our products are designed to help restore function in individuals with neuromuscular conditions due to brachial
plexus injury, traumatic brain injury, spinal cord injury, other neurological disorders and stroke.</P>



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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="image_003.jpg" ALT="" STYLE="width: 28px; height: 30px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT><IMG SRC="image_004.jpg" ALT=""></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Implications
of Being an &ldquo;Emerging Growth Company&rdquo;</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a public reporting company with less than $1 billion in revenue during our last fiscal year, we qualify as an &ldquo;emerging
growth company&rdquo; under the JOBS Act. An emerging growth company may take advantage of certain reduced reporting requirements
and is relieved of certain other significant requirements that are otherwise generally applicable to public companies. In particular,
as an emerging growth company we:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">are
    not required to obtain an attestation and report from our auditors on our management&rsquo;s assessment of our internal control
    over financial reporting pursuant to the Sarbanes-Oxley Act of 2002;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">are
    not required to provide a detailed narrative disclosure discussing our compensation principles, objectives and elements and
    analyzing how those elements fit with our principles and objectives (commonly referred to as &ldquo;compensation discussion
    and analysis&rdquo;);</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">are
    not required to obtain a non-binding advisory vote from our stockholders on executive compensation or golden parachute arrangements
    (commonly referred to as the &ldquo;say-on-pay,&rdquo; &ldquo;say-on-frequency&rdquo; and &ldquo;say-on-golden-parachute&rdquo;
    votes);</FONT></TD></TR>

</TABLE>

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

</DIV>

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

<!-- Field: Page; Sequence: 5; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<DIV STYLE="margin: 5pt; padding: 5pt; border: Black 1.5pt solid; width: 97%"><P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">are
    exempt from certain executive compensation disclosure provisions requiring a pay-for-performance graph and CEO pay ratio disclosure;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">may
    present only two years of audited financial statements and only two years of related Management&rsquo;s Discussion &amp; Analysis
    of Financial Condition and Results of Operations, or MD&amp;A; and</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">are
    eligible to claim longer phase-in periods for the adoption of new or revised financial accounting standards under &sect;107
    of the JOBS Act.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
intend to take advantage of all of these reduced reporting requirements and exemptions, including the longer phase-in periods
for the adoption of new or revised financial accounting standards under &sect;107 of the JOBS Act. Our election to use the phase-in
periods may make it difficult to compare our financial statements to those of non-emerging growth companies and other emerging
growth companies that have opted out of the phase-in periods under &sect;107 of the JOBS Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
of these reduced reporting requirements and exemptions were already available to us due to the fact that we also qualify as a
&ldquo;smaller reporting company&rdquo; under the Commission&rsquo;s rules. For instance, smaller reporting companies are not
required to obtain an auditor attestation and report regarding management&rsquo;s assessment of internal control over financial
reporting; are not required to provide a compensation discussion and analysis; are not required to provide a pay-for-performance
graph or CEO pay ratio disclosure; and may present only two years of audited financial statements and related MD&amp;A disclosure.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the JOBS Act, we may take advantage of the above-described reduced reporting requirements and exemptions for up to five years
after our initial sale of common equity pursuant to a registration statement declared effective under the Securities Act, or such
earlier time that we no longer meet the definition of an emerging growth company. Note that this Offering, while a public offering,
is not a sale of common equity pursuant to a registration statement, since the Offering is conducted pursuant to an exemption
from the registration requirements. In this regard, the JOBS Act provides that we would cease to be an &ldquo;emerging growth
company&rdquo; if we have more than $1 billion in annual revenues, have more than $700 million in market value of our Common Stock
held by non-affiliates, or issue more than $1 billion in principal amount of non-convertible debt over a three-year period. Furthermore,
under current Commission rules we will continue to qualify as a &ldquo;smaller reporting company&rdquo; for so long as we have
a public float (i.e., the market value of common equity held by non-affiliates) of less than $75 million as of the last business
day of our most recently completed second fiscal quarter.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Company
and Other Information</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company was formed in the State of Delaware on September 1, 2004. The Company&rsquo;s principal executive office is One Broadway,
14<SUP>th</SUP> Floor, Cambridge, Massachusetts 02142. Our telephone number is (877) 736-9666. Our Internet address is www.myomo.com.
We do not incorporate the information on or accessible through our website into this Offering Circular, and you should not consider
any information on, or that can be accessed through, our website a part of this Offering Circular.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
own various U.S. federal trademark registrations, certain foreign trademark registrations and applications, and unregistered trademarks,
including the following marks referred to in this Offering Circular: &ldquo;MyoPro&reg;&rdquo;, &ldquo;MYOMO&rdquo;&reg;. All
other trademarks or trade names referred to in this Offering Circular are the property of their respective owners. Solely for
convenience, the trademarks and trade names in this Offering Circular are referred to without the symbols &reg; and &trade;, but
such references should not be construed as any indicator that their respective owners will not assert, to the fullest extent possible
under applicable law, their rights thereto.</FONT><BR CLEAR="ALL"></P>

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

</DIV>

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

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<DIV STYLE="margin: 5pt; padding: 5pt; border: Black 1.5pt solid; width: 97%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_003"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>THE
OFFERING</B></FONT></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Issuer:</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 65%; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Myomo,
    Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Securities offered:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number of shares
    of Common Stock outstanding before the Offering:</B></FONT> </TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,410,110 shares<SUP>(1)</SUP></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number of shares
    of Common Stock to be outstanding after the Offering:</B></FONT> </TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%"> 6,410,110 shares, if the maximum amount of Shares are sold.<SUP>(1)</SUP> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Price per share:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$7.50</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Offering amount:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,000,000 Shares at
    $7.50 per share, or $15,000,000.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed listing:</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="line-height: 115%"><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"> We have applied to list
                                  our Common Stock on the NYSE MKT under the symbol &ldquo;MYO.&rdquo; Our Common Stock will not
                                  commence trading on the NYSE MKT until all of the following conditions are met: (i) the Offering
                                  is completed; and (ii) we have filed a post-qualification amendment to the Offering Statement
                                  and a registration statement on Form 8-A (&ldquo;Form 8-A&rdquo;) under the Securities Exchange
                                  Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), and such post-qualification amendment
                                  is qualified by the SEC and the Form 8-A has become effective. Pursuant to applicable rules
                                  under Regulation A, the Form 8-A will not become effective until the SEC qualifies the post-qualification
                                  amendment. We intend to file the post-qualification amendment and request its qualification
                                  immediately prior to the termination of the Offering in order that the Form 8-A may become effective
                                  as soon as practicable. Even if we meet the minimum requirements for listing on the NYSE MKT,
                                  we may wait before terminating the offering and commencing the trading of our Common Stock on
                                  the NYSE MKT in order to raise additional proceeds. As a result, you may experience a delay
                                  between the closing of your purchase of shares of our Common Stock and the commencement of exchange
                                  trading of our Common Stock on the NYSE MKT. </P>



<FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="line-height: 115%"> If we fail to meet the minimum requirements for listing on the NYSE MKT, we  intend to seek
    quotation     of our Common Stock on the OTCQX over-the-counter market operated by OTC Markets Group Inc. (the
    &ldquo;OTCQX&rdquo;) and     would anticipate quotation on the OTCQX to begin following the termination of this
    Offering. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Use of proceeds:</B></FONT> </TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> If we sell all of the $15,000,000 worth of shares
        being offered, our net proceeds (after Selling Agent fees and our estimated other Offering expenses) will be $13,125,000.
        We will use these net proceeds for increased sales and marketing expenses, product development, repayment of debt; and
        working capital and other general corporate purposes. </P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> &nbsp; </P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> In the event we raise more than $5,000,000 in
        net proceeds from new investors in this Offering, minus (i) any amounts that we raise from new investors in our convertible
        promissory note financing that we commenced in June 2016 and (ii) $2,512,000 representing the amount&nbsp;we raised from
        new investors in our convertible note financing that we commenced in December 2015, we will be required to immediately
        repay the promissory notes issued to the Massachusetts Life Sciences Center (&ldquo;MLSC&rdquo;) equal to an aggregate
        principal amount of $1,193,984 plus accrued but unpaid interest of $29,798, as of December&nbsp;31, 2016. In the event
        we raise less than $5,000,000, then the Company will be required to repay the outstanding balance in June 2017. </P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risk factors:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investing in our
    Common Stock involves a high degree of risk. See &ldquo;Risk Factors&rdquo; starting on Page </B>5.</FONT></TD></TR>
</TABLE>


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

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

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

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

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

</DIV>

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="margin: 5pt; padding: 5pt; border: Black 1.5pt solid; width: 97%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="text-transform: uppercase">(1) </FONT>The
number of shares of Common Stock outstanding as of December 31, 2016, and excludes: </P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; line-height: 115%"> &nbsp; </TD>
    <TD STYLE="width: 24px; line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">&#9679;</FONT> </TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">10,781
    shares issuable upon the exercise of warrants, with a weighted-average exercise price of approximately $3.5136 per share;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"> &nbsp; </TD>
    <TD STYLE="line-height: 115%"> &nbsp; </TD>
    <TD STYLE="line-height: 115%"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"> &nbsp; </TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">&#9679;</FONT> </TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">591,930
    shares issuable upon the exercise of warrants, price per share based on the price per share in the Offering;</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; line-height: 115%"> &nbsp; </TD>
    <TD STYLE="width: 24px; line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">&#9679;</FONT> </TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">246,344
    shares issuable upon exercise of stock options under the Company&rsquo;s 2004 Stock Option and Incentive Plan (the &ldquo;2004
    Plan&rdquo;) and the 2014 Stock Option and Grant Plan, (the &ldquo;2014 Plan&rdquo;) with a weighted-average exercise price
    $0.51330 per share;</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; line-height: 115%"> &nbsp; </TD>
    <TD STYLE="width: 24px; line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">&#9679;</FONT> </TD>
    <TD STYLE="line-height: 115%"> 636,141 shares available for future issuance under our 2014 Plan, as amended on August 23,
2016; </TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 24px; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">&#9679;</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">562,500
    shares that will become available for future issuance under our 2016 Equity Incentive Plan, which we expect to adopt in connection
    with this Offering; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 24px; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">&#9679;</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">100,000
    shares issuable upon exercise of the warrants to be issued to the Selling Agent, or its designated affiliates, in connection
    with this Offering.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Unless expressly indicated or the context requires otherwise,
all information in this Offering Circular assumes the issuance of: </P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,622,187
shares of Common Stock upon the conversion of all outstanding shares of our redeemable convertible preferred stock (the &ldquo;Convertible
Preferred Stock&rdquo;) as of December 31, 2016 in connection with this Offering;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">580,823
    shares issuable upon the automatic conversion of all subordinated convertible promissory notes in an aggregate amount, including
    principal and accrued but unpaid interest, of $3,532,937 issued through December 31, 2016 at a price per share equal to $6.00;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">83,020
    shares issuable upon the closing of a qualified financing in a single transaction or series of transactions in
    any 12 month period yielding net proceeds of at least $5,000,000 (a &ldquo;Qualified Financing&rdquo;). We have the option
    to repay up to 50% of the aggregate outstanding amount, including principal amount and all accrued but unpaid interest, of
    our notes payable to a shareholder by issuing equity securities at 80% of the Offering price per share;</FONT> </TD></TR>
</TABLE>





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

</DIV>

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

<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><A NAME="a_004"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>RISK
FACTORS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
investment in our Common Stock involves a high degree of risk. You should carefully consider the following risk factors, together
with the other information contained in this Offering Circular, before purchasing our Common Stock. Any of the following factors
could harm our business, financial condition, results of operations or prospects, and could result in a partial or complete loss
of your investment. Some statements in this Offering Circular, including statements in the following risk factors, constitute
forward-looking statements. Please refer to the section entitled &ldquo;Cautionary Statement Regarding Forward-Looking Statements&rdquo;.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risks
Relating to Our Business</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
currently rely, and in the future will rely, on sales of our MyoPro products for our revenue, and we may not be able to achieve
or maintain market acceptance or obtain Medicare or private third-party payer reimbursement for our products.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
currently rely, and in the future will rely, on sales of our MyoPro products for our revenue. MyoPro products are relatively new
products, and market acceptance and adoption depend on educating people with limited upper extremity mobility and health care
providers as to the distinct features, ease-of-use, positive lifestyle impact and other benefits of MyoPro systems compared to
alternative technologies and treatments. MyoPro products may not be perceived to have sufficient potential benefits compared with
these alternatives, which include rehabilitation therapy or amputation with a prosthetic replacement. Also, we believe that healthcare
providers tend to be slow to change their medical treatment practices because of perceived liability risks arising from the use
of new products and the uncertainty of third-party reimbursement. Accordingly, healthcare providers may not recommend the MyoPro
until there is sufficient evidence to convince them to alter the treatment methods they typically recommend. This evidence may
include prominent healthcare providers or other key opinion leaders in the upper extremity paralysis community recommending the
MyoPro as effective in providing identifiable immediate and long-term health benefits, and the publication of additional peer-reviewed
clinical studies demonstrating its value.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are almost entirely dependent on third parties to cover the cost of our products to patients and heavily rely on our distributors&rsquo;
ability to obtain reimbursement for the cost of our products. If Medicare, the United States Department of Veterans Affairs (the
&ldquo;VA&rdquo;), health insurance companies and other third-party payers do not provide adequate coverage or reimbursement for
our products, then our sales will be limited to clinical facilities and individuals who can pay for our devices without reimbursement.
As a result, our sales would be significantly constrained. Currently, reimbursement for the cost of our products is obtained primarily
on a case-by-case basis until such time, if any, we obtain broad coverage policies with Medicare and third-party payers. There
can be no assurance that we will be able to obtain these broad coverage policies.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with Medicare reimbursement, the Company intends, at some point in the future, to apply for a unique Healthcare Common
Procedure Coding System (&ldquo;HCPCS&rdquo;) code applicable to our product line. We believe the receipt of a HCPCS code could
expand the pool of potential users of our products because Medicare eligible patients would have greater access to our products,
especially those patients who are not able to afford our products without Medicare reimbursement. To the Company&rsquo;s knowledge,
less than ten units have been self-paid or funded by non-profit foundations. The process of obtaining a HCPCS code is long and
often requires clinical experience to validate the need for a new code specific to the MyoPro. We cannot make any assurance that
a HCPCS code will be issued or that the amount of reimbursement offered will be sufficient to provide a reasonable profit to the
Company or to our distributors.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, reimbursement amounts, whether on a case-by-case basis or pursuant to broader coverage policies which may be established
in the future, may be insufficient to permit us to generate sufficient gross margins to allow the Company to operate on a profitable
basis. Third-party payers also may deny coverage, limit reimbursement or reduce their levels of payment, or our costs of production
may increase faster than increases in reimbursement levels. In addition, we may not obtain coverage and reimbursement approvals
in a timely manner. Our failure to receive such approvals would negatively impact market acceptance of MyoPro.</FONT></P>

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

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

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Achieving
and maintaining market acceptance of MyoPro products could be negatively impacted by many other factors, including, but not limited
to:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">lack
    of sufficient evidence supporting the benefits of MyoPro over competitive products or other available treatment, or lifestyle
    management to accommodate the disability;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">patient
    resistance to wearing an assistive device or making required insurance co-payments;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">results
    of clinical studies relating to MyoPro or similar products;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">claims
    that MyoPro, or any component thereof, infringes on patent or other intellectual property rights of third-parties;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">perceived
    risks associated with the use of MyoPro or similar products or technologies;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    introduction of new competitive products or greater acceptance of competitive products;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">adverse
    regulatory or legal actions relating to MyoPro or similar products or technologies; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">problems
    arising from the outsourcing of our manufacturing capabilities, or our existing manufacturing and supply relationships.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
factors that negatively impact sales of MyoPro would adversely affect our business, financial condition and operating results.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
depend on a single third party to manufacture the MyoPro and a limited number of third-party suppliers for certain components
of the MyoPro.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have contracted with Cogmedix, Inc. (&ldquo;Cogmedix&rdquo;), a contract manufacturer with expertise in the medical device industry,
for the manufacture of all of our products and the sourcing of all of our components and raw materials. Pursuant to this contract,
Cogmedix manufactures the MyoPro, pursuant to our specifications, at its facility in Worcester, Massachusetts. We may terminate
our relationship with Cogmedix at any time upon sixty (60) days written notice. For our business strategy to be successful, Cogmedix
must be able to manufacture our products in sufficient quantities, in compliance with regulatory requirements and quality control
standards, in accordance with agreed upon specifications, at acceptable costs and on a timely basis. Increases in our product
sales, whether forecasted or unanticipated, could strain the ability of Cogmedix to manufacture an increasingly large supply of
our current or future products in a manner that meets these various requirements. In addition, although we are not restricted
from engaging an alternative manufacturer, the process of moving our manufacturing activities would be time consuming and costly,
and may limit our ability to meet our sales commitments, which could harm our reputation and could have a material adverse effect
on our business.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also rely on third-party suppliers, some of which contract directly with Cogmedix, to supply certain components of the MyoPro
products. Both we and Cogmedix do not have long-term supply agreements with most of their suppliers and, in many cases, make purchases
on a purchase order basis. Our ability and Cogmedix&rsquo;s ability to secure adequate quantities of such products may be limited.
Suppliers may encounter problems that limit their ability to manufacture components for our products, including financial difficulties
or damage to their manufacturing equipment or facilities. If we, or Cogmedix, fail to obtain sufficient quantities of high quality
components to meet demand on a timely basis, we could lose customer orders, our reputation may be harmed and our business could
suffer.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cogmedix
generally uses a small number of suppliers for the MyoPro products. Depending on a limited number of suppliers exposes us to risks,
including limited control over pricing, availability, quality and delivery schedules. If any one or more of our suppliers ceases
to provide sufficient quantities of components in a timely manner or on acceptable terms, Cogmedix would have to seek alternative
sources of supply. It may be difficult to engage additional or replacement suppliers in a timely manner. Failure of these suppliers
to deliver products at the level our business requires would limit our ability to meet our sales commitments, which could harm
our reputation and could have a material adverse effect on our business. Cogmedix also may have difficulty obtaining similar components
from other suppliers that are acceptable to the FDA or other regulatory agencies, and the failure of Cogmedix&rsquo;s suppliers
to comply with strictly enforced regulatory requirements could expose us to regulatory action including warning letters, product
recalls, termination of distribution, product seizures or civil penalties. It could also require Cogmedix to cease using the components,
seek alternative components or technologies and we could be forced to modify our products to incorporate alternative components
or technologies, which could result in a requirement to seek additional regulatory approvals. Any disruption of this nature or
increased expenses could harm our commercialization efforts and adversely affect our operating results.</FONT></P>

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

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

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also rely on a limited number of suppliers for the batteries used by the MyoPro and do not maintain any long-term supply agreement
with respect to batteries. If we fail to obtain sufficient quantities of batteries in a timely manner, our reputation may be harmed
and our business could suffer.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
depend on a related third-party to provide the custom fabrication of the MyoPro.</I></B></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Currently, we rely on Geauga Rehabilitation Engineering
(&ldquo;GRE&rdquo;), a small, privately-held firm in Chardon, Ohio, to provide custom fabrication services for all MyoPro orders.
GRE also provides product development support for the development and prototyping of new MyoPro product designs. GRE is owned
by Jonathan Naft, our General Manager of MyoPro products. The Company has entered into a contract with GRE for these services
which it believes is comparable to an arm&rsquo;s-length arrangement. Since GRE is currently the only provider of MyoPro fabrication
services, our business may be impacted by any difficulties GRE has with its suppliers, operating facilities, trained personnel,
and any financial issues. In the event, GRE fails to fulfill our orders, then we may terminate our contract. If the Company&rsquo;s
relationship with GRE was terminated, we might have difficulty finding a replacement for GRE&rsquo;s services, in particular,
with respect to GRE&rsquo;s prototyping services. This could result in an adverse impact on the Company&rsquo;s business and financial
condition.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our
limited operating history makes it difficult for us to evaluate our future business prospects and make decisions based on those
estimates of our future performance.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since
inception, the Company has shipped approximately 600 units for use by patients at home and at clinical facilities. Our latest
product line, the MyoPro, was introduced to the market in Fall 2012 and we have sold approximately 250 units since such time.
As a result, we have a limited operating history. It is difficult to forecast our future results based upon our historical data.
Because of the uncertainties related to our limited historical operations, we may be hindered in our ability to anticipate and
timely adapt to increases or decreases in revenues or expenses.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"> <B><I>Our financial statements for December 31, 2016 include disclosure
regarding there being substantial doubt about our ability to continue as a going concern.</I></B> </P>

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"> We have a history of losses since inception. For the year ended December
31, 2016, we incurred a net loss of $3,617,022, and had an accumulated deficit of $22,875,308. We expect to continue to incur
operating and net losses for the foreseeable future as we expand our sales and marketing effort; invest in product development
and establish the necessary administrative functions to support our growing operations and being a public company. Our losses
in future periods may be greater than the losses we would incur if we developed the business more slowly. In addition, we may
find that these efforts are more expensive than we currently anticipate or that these efforts may not result in increases in our
revenues, which would further increase our losses. Therefore, there is substantial doubt about our ability to continue operations
in the future as a going concern, as disclosed in the notes to the financial statements for the year ended December 31, 2016.
Although our financial statements raise substantial doubt about our ability to continue as a going concern, they do not reflect
any adjustments that might result if we are unable to continue our business. If we cannot continue as a viable entity, our stockholders
may lose some or all of their investment in our company. </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>The
industries in which the Company operates are highly competitive and subject to rapid technological change. If our competitors
are better able to develop and market products that are safer, more effective, less costly, easier to use, or are otherwise more
attractive, we may be unable to compete effectively with other companies.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Industrial
and medical robotics are characterized by intense competition and rapid technological change, and we will face competition on
the basis of product features, clinical outcomes, price, services and other factors. Competitors may include large medical device
and other companies, some of which have significantly greater financial and marketing resources than we do, and firms that are
more specialized than we are with respect to particular markets. Our competition may respond more quickly to new or emerging technologies,
undertake more extensive marketing campaigns, have greater financial, marketing and other resources than we do or may be more
successful in attracting potential customers, employees and strategic partners.</FONT></P>

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

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

<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
competitive position will depend on multiple, complex factors, including our ability to achieve market acceptance for our products,
develop new products, implement production and marketing plans, secure regulatory approvals for products under development and
protect our intellectual property. In some instances, competitors may also offer, or may attempt to develop, alternative therapies
for disease states that may be delivered without a medical device. The development of new or improved products, processes or technologies
by other companies may render our products or proposed products obsolete or less competitive. The entry into the market of manufacturers
located in low-cost manufacturing locations may also create pricing pressure, particularly in developing markets. Our future success
depends, among other things, upon our ability to compete effectively against current technology, as well as to respond effectively
to technological advances, and upon our ability to successfully implement our marketing strategies and execute our research and
development plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
utilize independent distributors who are free to market products that compete with the MyoPro, and we rely on these distributors
to select appropriate patients and provide adequate follow-on care.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">We rely heavily on our relationships with O&amp;P practices,
the U.S. Department of Veterans Affairs and our distribution arrangements, previously with &Ouml;ssur Americas, Inc. (&ldquo;&Ouml;ssur&rdquo;)
and, as of January 1, 2017, with Otto Bock Healthcare LP (&ldquo;Ottobock&rdquo;) to market and sell our products. We believe
that a meaningful percentage of our sales will continue to be generated through these channels in the future. However, none of
these partners are required to sell or provide our products exclusively. If any of these key independent distributors were to
cease to distribute our products, our sales could be adversely affected. In such a situation, we may need to seek alternative
independent distributors or increase our reliance on our other independent distributors or our direct sales representatives, which
may not prevent our sales from being adversely affected. Additionally, to the extent that we enter into additional arrangements
with independent distributors to perform sales, marketing, or distribution services, the terms of the arrangements could cause
our profit margins to be lower than if we directly marketed and sold our products.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
these independent distributors do not follow our inclusion/exclusion criteria for patient selection or do not provide adequate
follow-on care, then our reputation may be harmed by patient dissatisfaction. This could also lead to product returns and adversely
affect our financial condition. When issues with distributors have arisen in the past, we have supplied additional training and
documentation and/or ended the distributor relationship.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may not have sufficient funds to meet our future capital requirements.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> We believe that the proceeds of this Offering,
assuming we raise $15,000,000, and other potential sources of liquidity will be sufficient to meet our anticipated cash needs
for at least the next 18 months &nbsp;from the closing of this offering. In the event we do not raise $15,000,000 in this Offering, we may not fully meet our
capital needs and may need to raise additional capital. Additionally, if we require additional funds during that period or in
later periods, we may need to seek additional sources of funds, including potentially by selling additional equity
securities, borrowing or selling or licensing our assets. However, we may be unable to obtain additional funds on reasonable
terms, or at all. As a result, we may be required to reduce the scope of, or delay or eliminate, some or all of our current
and planned commercialization and research and development activities. We also may have to reduce sales, marketing, customer
service, or other resources devoted to our business. Any of these actions could materially harm our business and results of
operations. </P>







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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>The
market for myoelectric braces (orthotics) is new and unproven, and important assumptions about the potential market for our products
may be inaccurate.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market for myoelectric braces (orthotics) is new and unproven. Our estimates of market size are derived from statistics regarding
the number of individuals with paralysis, but not necessarily limited to their upper extremities. Accordingly, it is difficult
to predict the future size and rate of growth of the market. We cannot be certain whether the market will continue to develop
or if myoelectric braces (orthotics) will achieve and sustain a level of market acceptance and demand sufficient for us to continue
to generate revenue and achieve profitability.</FONT></P>

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

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

<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limited
sources exist to obtain reliable market data with respect to the number of mobility-impaired individuals and the occurrence of
upper extremity paralysis in our target markets. In addition, there are no third-party reports or studies regarding what percentage
of those with upper extremity paralysis would be able to use myoelectric braces (orthotics) in general, or our current or planned
future products in particular. In order to use our current products marketed to those with upper extremity paralysis, users must
meet a set of inclusion criteria and not have a medical condition which disqualifies them from being an appropriate candidate.
Future products for those with upper extremity paralysis may have the same or other restrictions. Our business strategy is based,
in part, on our estimates of the number of upper extremity impaired individuals and the incidence of upper extremity injuries
in our target markets and the percentage of those groups that would be able to use our current and future products. Our assumptions
and estimates may be inaccurate and may change.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the myoelectric brace (orthotic) market fails to develop or develops more slowly than we expect, or if we have relied on sources
or made assumptions or estimates that are not accurate, our business could be adversely affected.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, because we operate in a new market, the actions of our competitors could adversely affect our business. Adverse events
such as product defects or legal claims with respect to competing or similar products could cause reputational harm to the market
on the whole. Further, adverse regulatory findings or reimbursement-related decisions with respect to other products could negatively
impact the entire market and, accordingly, our business.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may receive a significant number of warranty claims or our MyoPro may require significant amounts of service after sale.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Sales of MyoPro products generally include a
one-year warranty for parts and services, other than for normal wear and tear. We also provide customers with the option to
purchase an extended warranty to extend the standard warranty from a one-year to a three-year warranty. As the number and
complexity of the features and functionalities of our products increase, we may experience a higher level of warranty claims.
If product returns or warranty claims are significant or exceed our expectations, we could incur unanticipated expenditures
for parts and services, which could have a material adverse effect on our operating results. </P>









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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Defects
in our products or the software that drives them could adversely affect the results of our operations.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
design, manufacture and marketing of the MyoPro products involve certain inherent risks. Manufacturing or design defects, unanticipated
use of the MyoPro, or inadequate disclosure of risks relating to the use of MyoPro products can lead to injury or other adverse
events. In addition, because the manufacturing of our products is outsourced to Cogmedix, we may not be aware of manufacturing
defects that could occur. Such adverse events could lead to recalls or safety alerts relating to MyoPro products (either voluntary
or required by the FDA or similar governmental authorities in other countries), and could result, in certain cases, in the removal
of MyoPro products from the market. A recall could result in significant costs. To the extent any manufacturing defect occurs,
our agreement with Cogmedix contains a limitation on Cogmedix&rsquo;s liability, and therefore we could be required to incur the
majority of related costs. Our agreement with GRE does not contain a similar limitation of liability; however, a defect in connection
with the fabrication of our products may result in significant costs in connection with lawsuits or refunds. Product defects or
recalls could also result in negative publicity, damage to our reputation or, in some circumstances, delays in new product approvals.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MyoPro
users may not use MyoPro products in accordance with safety protocols and training, which could enhance the risk of injury. Any
such occurrence could cause delay in market acceptance of MyoPro products, damage to our reputation, additional regulatory filings,
product recalls, increased service and warranty costs, product liability claims and loss of revenue relating to such hardware
or software defects.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
medical device industry has historically been subject to extensive litigation over product liability claims. We have not been
subject to such claims to date, however, we may become subject to product liability claims alleging defects in the design, manufacture
or labeling of our products in the future. A product liability claim, regardless of its merit or eventual outcome, could result
in significant legal defense costs and high punitive damage payments. Although we maintain product liability insurance, the coverage
is subject to deductibles and limitations, and may not be adequate to cover future claims. Additionally, we may be unable to maintain
our existing product liability insurance in the future at satisfactory rates or adequate amounts.</FONT></P>

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

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

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>There
is no long-term clinical data with respect to the effects of MyoPro products, and our products could cause unforeseen negative
effects.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
short-term clinical studies have established the safety of MyoPro products, there is no long-term clinical data with respect to
the safety or physical effects of the MyoPro. Future results and experience could indicate that our products are not safe for
long-term use or cause unexpected complications or other unforeseen negative effects. Because MyoPro users generally do not have
feeling in their upper extremities, users may not immediately notice damaging effects, which could exacerbate their impact. If
in the future MyoPro products are shown to be unsafe or cause such unforeseen effects, we could be subject to mandatory product
recalls, suspension or withdrawal of FDA registration, significant legal liability or harm to our business reputation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may enter into collaborations, licensing arrangements, joint ventures, strategic alliances or partnerships with third-parties
that may not result in the development of commercially viable products or the generation of significant future revenues.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> In the ordinary course of our business, in the future
we may enter into collaborations, in-licensing arrangements, joint ventures, strategic alliances or partnerships to develop the
MyoPro and to pursue new markets. Proposing, negotiating and implementing collaborations, licensing arrangements, joint ventures,
strategic alliances or partnerships may be a lengthy and complex process. We may not identify, secure, or complete any such transactions
or arrangements in a timely manner, on a cost-effective basis, on acceptable terms or at all. We have limited institutional knowledge
and experience with respect to these business development activities, and we may also not realize the anticipated benefits of
any such transaction or arrangement. In particular, these collaborations may not result in the development of products that achieve
commercial success or result in significant revenues and could be terminated prior to developing any products. For example, we
have recently entered into an arrangement with Ottobock for the distribution of our products in the U.S., and although there are
minimum payment requirements from Ottobock, the arrangement may still not be as productive or successful as we hope. </P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we pursue collaborations, licensing arrangements, joint ventures, strategic alliances or partnerships, we may not be in a position
to exercise sole decision making authority regarding the transaction or arrangement, which could create the potential risk of
creating impasses on decisions, and our collaborators may have economic or business interests or goals that are, or that may become,
inconsistent with our business interests or goals. It is possible that conflicts may arise with our collaborators. Our collaborators
may act in their self-interest, which may be adverse to our best interest, and they may breach their obligations to us. Any such
disputes could result in litigation or arbitration which would increase our expenses and divert the attention of our management.
Further, these transactions and arrangements are contractual in nature and may be terminated or dissolved under the terms of the
applicable agreements.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>If
we fail to properly manage our anticipated growth, our business could suffer.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
we expand the number of locations which provide the MyoPro products, including future planned international distribution, we expect
that it will place significant strain on our management team and on our financial resources. Failure to manage our growth effectively
could cause us to misallocate management or financial resources, and result in losses or weaknesses in our infrastructure, which
could materially adversely affect our business. Additionally, our anticipated growth will increase the demands placed on our suppliers,
resulting in an increased need for us to manage our suppliers and monitor for quality assurance.</FONT></P>

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Moreover, there are significant costs and risks inherent
in selling our products in international markets, including: (a) time and difficulty in building a widespread network of distribution
partners; (b) increased shipping and distribution costs, which could increase our expenses and reduce our margins; (c) potentially
lower margins in some regions; (d) longer collection cycles in some regions; (e) compliance with foreign laws and regulations;
(f) compliance with anti-bribery, anti-corruption, and anti-money laundering laws, such as the Foreign Corrupt Practices Act and
the Office of Foreign Assets Control regulations, by us, our employees, and our business partners; (g) currency exchange rate
fluctuations and related effects on our results of operations; (h) economic weakness, including inflation, or political instability
in foreign economies and markets; (i) compliance with tax, employment, immigration, and labor laws for employees living or traveling
abroad; (j) workforce uncertainty in countries where labor unrest is more common than in the United States; (k) business interruptions
resulting from geopolitical actions, including war and terrorism, or natural disasters, including earthquakes, typhoons, floods
and fires; and (l) other costs and risks of doing business internationally, such as new tariffs which may be imposed.. </P>





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

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

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
and other factors could harm our ability to implement planned international operations and, consequently, harm our business, results
of operations, and financial condition. Further, we may incur significant operating expenses as a result of our planned international
expansion, and it may not be successful. We have limited experience with regulatory environments and market practices internationally,
and we may not be able to penetrate or successfully operate in new markets. We may also encounter difficulty expanding into international
markets because of limited brand recognition, leading to delayed or limited acceptance of our products by patients in these markets.
Accordingly, if we are unable to expand internationally or manage our international operations successfully, we may not achieve
the expected benefits of this expansion and our financial condition and results of operations could be harmed.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
depend on the knowledge and skills of our senior management.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have benefited substantially from the leadership and performance of our senior management and other key employees. We do not carry
key person insurance. Our success will depend on our ability to retain our current management and key employees. Competition for
these key persons in our industry is intense and we cannot guarantee that we will be able to retain our personnel. The loss of
the services of certain members of our senior management or key employees could prevent or delay the implementation and completion
of our strategic objectives, or divert management&rsquo;s attention to seeking qualified replacements.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may seek to grow our business through acquisitions of complementary products or technologies, and the failure to manage acquisitions,
or the failure to integrate them with our existing business, could have a material adverse effect on our business, financial condition
and operating results.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">From
time to time, we may consider opportunities to acquire other products or technologies that may enhance our products or technology,
or advance our business strategies. Potential acquisitions involve numerous risks, including:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">problems
    assimilating the acquired products or technologies;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">issues
    maintaining uniform standards, procedures, controls and policies;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">unanticipated
    costs associated with acquisitions;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">diversion
    of management&rsquo;s attention from our existing business;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">risks
    associated with entering new markets in which we have limited or no experience; and</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">increased
    legal and accounting costs relating to the acquisitions or compliance with regulatory matters.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have no current commitments with respect to any acquisition and no current plans to seek acquisitions; however, depending on industry
and market conditions, we may consider acquisitions in the future. If we do proceed with acquisitions, we do not know if we will
be able to identify acquisitions we deem suitable, whether we will be able to successfully complete any such acquisitions on favorable
terms or at all, or whether we will be able to successfully integrate any acquired products or technologies. Our potential inability
to integrate any acquired products or technologies effectively may adversely affect our business, operating results and financial
condition.</FONT></P>

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

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

<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risks
Related to Government Regulation</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
are subject to extensive governmental regulations relating to the manufacturing, labeling and marketing of our products, and a
failure to comply with such regulations could lead to withdrawal or recall of our products from the market.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
medical products and manufacturing operations are subject to regulation by the FDA and other governmental authorities both inside
and outside of the United States. These agencies enforce laws and regulations that govern the development, testing, manufacturing,
labeling, storage, installation, servicing, advertising, promoting, marketing, distribution, import, export and market surveillance
of our MyoPro products.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
products are regulated as medical devices in the United States under the Federal Food, Drug and Cosmetic Act (the &ldquo;FFDCA&rdquo;)
as implemented and enforced by the FDA. Under the FFDCA, medical devices are classified into one of three classes-Class I, Class
II or Class III-depending on the degree of risk associated with the medical device, what is known about the type of device, and
the extent of control needed to provide reasonable assurance of safety and effectiveness. Classification of a device is important
because the class to which a device is assigned determines, among other things, the necessity and type of FDA pre-market review.
This determination is required prior to promoting or advertising the device. See &ldquo;Our Business - Government Regulation.&rdquo;</FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In 2012, Myomo registered the MyoPro device as a Class I limb orthosis
with the FDA. From time to time, the FDA may disagree with classification of a new Class I medical device and require the registered
establishment listing that device to apply for approval as a Class II or Class III medical device. As FDA is now giving more attention
to the differentiated performance of myoelectric controlled orthotics, we recently elected to change our classification registration
to Class II. In the event that the FDA determines that our medical products should be reclassified Class III medical devices,
we could be precluded from marketing the devices for clinical use within the U.S. for months or longer depending on the requirements
of the classification. Reclassification of our products as requiring 510(k) or PMA pre-market approval could significantly increase
our regulatory costs, including expense associated with required pre-clinical (animal) and clinical (human) trials, more extensive
mechanical and electrical testing and other costs.</P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">Myomo is registered with the FDA as a specifications developer
for medical devices. Following the introduction of a product, the governmental agencies will periodically review our product development
methodology, quality management systems, and product performance. We are under a continuing obligation to ensure that all applicable
regulatory requirements continue to be met. Our facilities are subject to periodic and unannounced inspection by U.S. and foreign
regulatory agencies to audit compliance with the FDA&rsquo;s Quality System Regulation (&ldquo;QSR&rdquo;) and comparable foreign
regulations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
process of complying with the applicable good manufacturing practices, adverse event reporting and other requirements can be costly
and time consuming, and could delay or prevent the production, manufacturing or sale of the MyoPro. If the FDA determines that
we fail to comply with applicable regulatory requirements, they may issue a warning letter with one or more 485 citations. This
directive, if not closed promptly can result in fines, delays or suspensions of regulatory clearances, closure of manufacturing
sites, seizures or recalls of products and damage to our reputation. Recent changes in enforcement practice by the FDA and other
agencies have resulted in increased enforcement activity, which increases the compliance risk that we and other companies in our
industry are facing.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, governmental agencies of the United States or other countries may impose new requirements regarding registration, labeling
or prohibited materials that may require us to modify or re-register the MyoPro once it is already on the market or otherwise
impact our ability to market the MyoPro in the US or other countries. The process of complying with these governmental regulations
can be costly and time consuming, and could delay or prevent the production, manufacturing or sale of the MyoPro. For instance,
the FDA may issue mandates, known as 522 orders, requiring us to conduct post-market studies of products. Failure to comply could
result in enforcement of the FFDCA against us or our products including an agency request that we recall our MyoPro products.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>If
we or our third-party manufacturers or key suppliers fail to comply with the FDA&rsquo;s Quality System Regulation, or QSR, our
manufacturing operations could be interrupted.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
key suppliers are also required to comply with the FDA&rsquo;s QSR which covers the methods and documentation of the production,
control, quality assurance, labeling, packaging, storage and shipping of our products. Cogmedix, our electromechanical kit manufacturer,
and other key suppliers are also subject to the regulations of foreign jurisdictions regarding the manufacturing process with
respect to the market for our products abroad.</FONT></P>

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

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

<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
continue to monitor our quality management with our suppliers to improve our overall level of compliance. Our facilities are subject
to periodic and unannounced inspection by U.S. and foreign regulatory agencies to audit compliance with the QSR and comparable
foreign regulations. If the facilities of our suppliers are found to be in violation of applicable laws and regulations, or if
our suppliers fail to take satisfactory corrective action in response to an adverse inspection, the regulatory authority could
take enforcement action, including any of the following sanctions:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">untitled
    letters, warning letters, Form 483 findings (results from quality system inspections), fines, injunctions, consent decrees
    and civil penalties;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">customer
    notifications or repair, replacement or refunds;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">detention,
    recalls or seizure of our products;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">operating
    restrictions or partial suspension or total shutdown of production;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">withdrawing
    our FDA registration;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">refusing
    to provide Certificates to Foreign Governments with respect to exports;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">pursuing
    criminal prosecution.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
of these sanctions could impair our ability to produce the MyoPro in a cost-effective and timely manner in order to meet our customers&rsquo;
demands, and could have a material adverse effect on our reputation, business, results of operations and financial condition.
We may also be required to bear other costs or take other actions that may have a negative impact on our future sales and our
ability to generate profits.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>If
we are found to have violated laws protecting the confidentiality of patient health information, we could be subject to civil
or criminal penalties, which could increase our liabilities and harm our reputation or our business.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
are a number of federal, state and foreign laws protecting the confidentiality of certain patient health information, including
patient records, and restricting the use and disclosure of that protected information. In particular, the U.S. Department of Health
and Human Services, or HHS, promulgated patient privacy rules under the Health Insurance Portability and Accountability Act of
1996, or HIPAA. These privacy rules protect medical records and other personal health information by limiting their use and disclosure,
giving individuals the right to access, amend and seek accounting of their own health information and limiting most use and disclosures
of health information to the minimum amount reasonably necessary to accomplish the intended purpose. While we have Business Associate
Agreements in place with our distributors, if we or any of our service providers are found to be in violation of the promulgated
patient privacy rules under HIPAA, we could be subject to civil or criminal penalties, which could increase our liabilities, harm
our reputation and have a material adverse effect on our business, financial condition and operating results.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
face risks in connection with the Affordable Care Act (the &ldquo;ACA&rdquo;), or its possible replacement or modifications.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> In March 2010, the Patient Protection and Affordable
Care Act and the Health Care and Education Reconciliation Act of 2010 (collectively, the &ldquo;ACA&rdquo;) were signed into U.S.
law. The ACA is introducing unprecedented changes into the US healthcare delivery and payment systems. While there appear to be
benefits to the Company &ndash; such as a greater number of individuals enrolled in health insurance plans and thus potentially
eligible to obtain a MyoPro if needed &ndash; it is not clear how future payment schemes, or potential changes to the ACA, will
change the reimbursement model for orthotic and prosthetic devices such as the MyoPro. We monitor industry trends relative to
the ACA to assist in our determination of how the MyoPro can fit into patient care protocols with providers such as rehabilitation
hospitals and surgery centers. If reimbursement policies change significantly, the demand for MyoPro products may be impacted. </P>





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

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

<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risks
Related to Our Intellectual Property</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
depend on certain patents that are licensed to us. We do not control these patents and any loss of our rights to them could prevent
us from manufacturing our products.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><I>&nbsp;</I></B></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">We rely on licenses to two core patents that are material
to our business, including the development of the MyoPro. We have entered into an exclusive license agreement (the &ldquo;License
Agreement&rdquo;) with the Massachusetts Institute of Technology (&ldquo;MIT&rdquo;) for those certain patents that cover (i)
a powered orthotic device worn on a patient&rsquo;s elbow or other joint, that senses relatively low level signals in the vicinity
of the joint generated by a patient having spinal cord or other nerve damage and (ii) a method of providing rehabilitation movement
training for a person suffering from nerve damage, stroke, spinal cord injury, neurological trauma or neuromuscular disorder in
attempt to move a body part with a powered orthotic device. Our rights to use these patents will be subject to the continuation
of and our compliance with the terms of those licenses.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">On November 15, 2016, the Company and MIT entered into a
waiver agreement with regard to certain obligations (the &ldquo;Obligations Waiver&rdquo;) under the License Agreement. The Obligations
Waiver contemplates that the Company has not met certain revenue obligations (the &ldquo;Revenue Obligations&rdquo;) and certain
commercialization obligations (the &ldquo;Commercial Obligations&rdquo;), which are required under the License Agreement. Pursuant
to the Revenue Obligations, the Company was originally obligated to have net sales of at least $200,000, $250,000, $500,000 and
$750,000 in 2010, 2011, 2012 and 2013 (and each year thereafter), respectively. Pursuant to the Commercialization Obligations,
the Company was originally obligated to introduce a home version of a &ldquo;licensed product&rdquo; on or before December 31,
2010, expand distribution of a licensed product to 10 major metropolitan areas on or before December 31, 2011 and expand distribution
to at least one country outside of the United States on or before December 31, 2012. The Obligations Waiver waives any and all
Revenue Obligations up to the date of the waiver agreement and waives the Commercialization Obligations up to and through the
date of the waiver agreement. The Commercialization Obligations have expired as of the date hereof and do not need to be complied
with in the future. The Obligations Waiver cannot be terminated by any other parties.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Our revenue exceeded $750,000 for the fiscal year ended
December 31, 2016, which satisfied the Revenue Obligations for that fiscal year. The Revenue Obligations are a continuing requirement
of the License Agreement. Based on our current distributor agreement, we expect to exceed the required revenue and satisfy the
Revenue Obligations in future years; however, we cannot make any assurance that such agreement will remain in effect. Additionally,
MIT has the right to terminate the License Agreement&nbsp;upon any future uncured material&nbsp;breach&nbsp;of the&nbsp;agreement&nbsp;or
if we fail to make any payments due under the agreement. If the License Agreement&nbsp;is terminated for any reason, our business
will be harmed. </P>





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Specifically, if we were to lose access to these licenses,
we would be unable to manufacture the MyoPro or develop new products until we obtained access to a comparable technology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may not control the prosecution, maintenance or filing of the patents to which we now hold or in the future intend to acquire
licenses. Enforcement of our licensed patents or defense of any claims asserting the invalidity of these patents may be subject
to the control or cooperation of our licensors. We cannot be certain that our licensors will prosecute, maintain, enforce and
defend the licensed patent rights in a manner consistent with the best interests of our business. We also cannot be certain that
drafting or prosecution of the licensed patents and patent applications by the relevant licensors have been or will be conducted
in compliance with applicable law.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our
success depends in part on our ability to obtain and maintain protection for the intellectual property relating to or incorporated
into our products.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
success depends in part on our ability to obtain and maintain protection for the intellectual property relating to or incorporated
into our products. We seek to protect our intellectual property through a combination of patents, trademarks, confidentiality
and assignment agreements with our employees and certain of our contractors and confidentiality agreements with certain of our
consultants, scientific advisors and other vendors and contractors. In addition, we rely on trade secrets law to protect our proprietary
software and product candidates/products in development.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
patent position of myoelectric orthotic inventions can be highly uncertain and involves many new and evolving complex legal, factual
and technical issues. Patent laws and interpretations of those laws are subject to change and any such changes may diminish the
value of our patents or narrow the scope of protection. In addition, we may fail to apply for or be unable to obtain patents necessary
to protect our technology or products or enforce our patents due to lack of information about the exact use of technology or processes
by third parties. Also, we cannot be sure that any patents will be granted in a timely manner or at all with respect to any of
our patent pending applications or that any patents that are granted will be adequate to protect our intellectual property for
any significant period of time or at all.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Litigation
to establish or challenge the validity of patents, or to defend against or assert against others infringement, unauthorized use,
enforceability or invalidity claims, can be lengthy and expensive and may result in our patents being invalidated or interpreted
narrowly and our not being granted new patents related to our pending patent applications. Even if we prevail, litigation may
be time consuming and force us to incur significant costs, and any damages or other remedies awarded to us may not be valuable
and management&rsquo;s attention could be diverted from managing our business. In addition, U.S. patents and patent applications
may be subject to interference proceedings, and U.S. patents may be subject to re-examination and review in the U.S. Patent and
Trademark Office. Foreign patents may also be subject to opposition or comparable proceedings in the corresponding foreign patent
offices. Any of these proceedings may be expensive and could result in the loss of a patent or denial of a patent application,
or the loss or reduction in the scope of one or more of the claims of a patent or patent application.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, we seek to protect our trade secrets, know-how and confidential information that is not patentable by entering into
confidentiality and assignment agreements with our employees and certain of our contractors and confidentiality agreements with
certain of our consultants, scientific advisors and other vendors and contractors. However, we may fail to enter into the necessary
agreements, and even if entered into, these agreements may be breached or otherwise fail to prevent disclosure, third-party infringement
or misappropriation of our proprietary information, may be limited as to their term and may not provide an adequate remedy in
the event of unauthorized disclosure or use of proprietary information. Enforcing a claim that a third party illegally obtained
and is using our trade secrets is expensive and time consuming, and the outcome is unpredictable.</FONT></P>

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

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also have taken precautions to initiate reasonable safeguards to protect our information technology systems. However, these measures
may not be adequate to safeguard our proprietary information, which could lead to the loss or impairment thereof or to expensive
litigation to defend our rights against competitors who may be better funded and have superior resources. In addition, unauthorized
parties may attempt to copy or reverse engineer certain aspects of our products that we consider proprietary or our proprietary
information may otherwise become known or may be independently developed by our competitors or other third parties. If other parties
are able to use our proprietary technology or information, our ability to compete in the market could be harmed.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Further,
unauthorized use of our intellectual property may have occurred, or may occur in the future, without our knowledge.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we are unable to obtain or maintain adequate protection for intellectual property, or if any protection is reduced or eliminated,
competitors may be able to use our technologies, resulting in harm to our competitive position.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
are not able to protect our intellectual property rights in all countries.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Filing, prosecuting, maintaining and defending patents on
each of our products in all countries throughout the world would be prohibitively expensive, and thus our intellectual property
rights outside the United States are currently limited to the European Union and Japan. In addition, the laws of some foreign
countries, especially developing countries, do not protect intellectual property rights to the same extent as federal and state
laws in the United States. Also, it may not be possible to effectively enforce intellectual property rights in some countries
at all or to the same extent as in the United States and other countries. Consequently, we are unable to prevent third parties
from using our inventions in all countries, or from selling or importing products made using our inventions in the jurisdictions
in which we do not have (or are unable to effectively enforce) patent protection. Competitors may use our technologies in jurisdictions
where we have not obtained patent protection to develop, market or otherwise commercialize their own products, and we may be unable
to prevent those competitors from importing those infringing products into territories where we have patent protection, but enforcement
is not as strong as in the United States. These products may compete with our products and our patents and other intellectual
property rights may not be effective or sufficient to prevent them from competing in those jurisdictions. Moreover, competitors
or others in the chain of commerce may raise legal challenges against our intellectual property rights or may infringe upon our
intellectual property rights, including through means that may be difficult to prevent or detect.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Many
companies have encountered significant problems in protecting and defending intellectual property rights in foreign jurisdictions.
Proceedings to enforce our patent rights in the United States or foreign jurisdictions could result in substantial costs and divert
our efforts and attention from other aspects of our business, could put our patents at risk of being invalidated or interpreted
narrowly and our patent applications at risk of not issuing, and could provoke third parties to assert patent infringement or
other claims against us. We may not prevail in any lawsuits that we initiate and the damages or other remedies awarded, if any,
may not be commercially meaningful. Accordingly, our efforts to enforce our intellectual property rights in the United States
and around the world may be inadequate to obtain a significant commercial advantage from the intellectual property that we develop
or license from third parties.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may be subject to patent infringement claims, which could result in substantial costs and liability and prevent us from commercializing
our current and future products.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
medical device industry is characterized by competing intellectual property and a substantial amount of litigation over patent
rights. In particular, our competitors in both the United States and abroad, many of which have substantially greater resources
and have made substantial investments in competing technologies, have been issued patents and filed patent applications with respect
to their products and processes and may apply for other patents in the future. The large number of patents, the rapid rate of
new patent issuances, and the complexities of the technology involved increase the risk of patent litigation.</FONT></P>

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Determining whether a product infringes a patent involves
complex legal and factual issues and the outcome of patent litigation is often uncertain. Even though we have conducted research
of issued patents, no assurance can be given that patents containing claims covering our products, technology or methods do not
exist, have not been filed or could not be filed or issued. In addition, because patent applications can take years to issue and
because publication schedules for pending applications vary by jurisdiction, there may be applications now pending of which we
are unaware and may result in issued patents which our current or future products infringe. Also, because the claims of published
patent applications can change between publication and patent grant, published applications may issue with claims that potentially
cover our products, technology or methods. </P>





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

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

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Infringement
actions and other intellectual property claims brought against us, with or without merit, may cause us to incur substantial costs
and could place a significant strain on our financial resources, divert the attention of management and harm our reputation. We
cannot be certain that we will successfully defend against any allegations of infringement. If we are found to infringe another
party&rsquo;s patents, we could be required to pay damages. We could also be prevented from selling our products that infringe,
unless we could obtain a license to use the technology covered by such patents or could redesign our products so that they do
not infringe. A license may be available on commercially reasonable terms or none at all, and we may not be able to redesign our
products to avoid infringement. Further, any modification to our products could require us to conduct clinical trials and revise
our filings with the FDA and other regulatory bodies, which would be time consuming and expensive. In these circumstances, we
may not be able to sell our products at competitive prices or at all, and our business and operating results could be harmed.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
rely on trademark protection to distinguish our products from the products of our competitors.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">We rely on trademark protection to distinguish our products
from the products of our competitors. We have registered the trademarks &ldquo;MyoPro&rdquo; (Registration No. 4,532,331) and
&ldquo;MYOMO&rdquo; (Registration No. 4,451,445) in the United States. In jurisdictions where we have not registered our trademark
and are using it, and as permitted by applicable local law, we seek to rely on common law trademark protection where available.
Third parties may oppose our trademark applications, or otherwise challenge our use of the trademarks, and may be able to use
our trademarks in jurisdictions where they are not registered or otherwise protected by law. If our trademarks are successfully
challenged or if a third party is using confusingly similar or identical trademarks in particular jurisdictions before we do,
we could be forced to rebrand our products, which could result in loss of brand recognition, and could require us to devote additional
resources to marketing new brands. If others are able to use our trademarks, our ability to distinguish our products may be impaired,
which could adversely affect our business. Further, we cannot assure you that competitors will not infringe upon our trademarks,
or that we will have adequate resources to enforce our trademarks.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may be subject to damages resulting from claims that our employees or we have wrongfully used or disclosed alleged trade secrets
of their former employers.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Some
of our employees were previously employed at other medical device companies, including our competitors or potential competitors,
and we may hire employees in the future that are so employed. We could in the future be subject to claims that these employees,
or we, have inadvertently or otherwise used or disclosed trade secrets or other proprietary information of their former employers.
If we fail in defending against such claims, a court could order us to pay substantial damages and prohibit us from using technologies
or features that are found to incorporate or be derived from the trade secrets or other proprietary information of the former
employers. If any of these technologies or features that are important to our products, this could prevent us from selling those
products and could have a material adverse effect on our business. Even if we are successful in defending against these claims,
such litigation could result in substantial costs and divert the attention of management.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risks
Related to this Offering</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>There
has been no public market for our Common Stock prior to this Offering, and an active market in which investors can resell their
shares may not develop.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to this Offering, there has been no public market for our Common Stock. We cannot predict the extent to which an active market
for our Common Stock will develop or be sustained after this Offering, or how the development of such a market might affect the
market price of our Common Stock. The initial offering price of our Common Stock in this Offering has been agreed to between us
and the Selling Agent based on a number of factors, including market conditions in effect around the time of this Offering, and
it may not be in any way indicative of the price at which our shares of Common Stock will trade following the completion of this
Offering. Investors may not be able to resell their shares of Common Stock at or above the initial offering price.</FONT></P>

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

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

<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our
principal stockholders and management beneficially own a significant percentage of our stock and will be able to exert significant
influence over matters subject to stockholder approval.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> As of February 28, 2017, our executive officers, directors,
principal stockholders and their affiliates beneficially owned a significant portion of our outstanding voting stock. Therefore,
these stockholders will have the ability to influence us through this ownership position. These stockholders may be able to significantly
affect matters requiring stockholder approval, including elections of directors, amendments of our organizational documents, and
approval of any merger, sale of assets, or other major corporate transaction. This may prevent or discourage unsolicited acquisition
proposals or offers for our Common Stock that you may believe are in your best interest as one of our stockholders. </P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our
Offering is being conducted on a &ldquo;best efforts&rdquo; basis and does not require a minimum amount to be raised. As a result,
we may not be able to raise enough funds to fully implement our business plan and our investors may lose their entire investment.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Offering is on a &ldquo;best efforts&rdquo; basis and does not require a minimum amount to be raised. If we are not able to raise
sufficient funds, we may not be able to fund our operations as planned, and our growth opportunities may be materially adversely
affected. This could increase the likelihood that an investor may lose their entire investment.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>The
market price of our Common Stock may fluctuate, and you could lose all or part of your investment.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">The price of our Common Stock may decline below the offering
price of the Shares following this Offering. The stock market in general, and the market price of our Common Stock will likely
be subject to fluctuation, whether due to, or irrespective of, our operating results, financial condition and prospects.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
financial performance, our industry&rsquo;s overall performance, changing consumer preferences, technologies, government regulatory
action, tax laws and market conditions in general could have a significant impact on the future market price of our Common Stock.
Some of the other factors that could negatively affect our share price or result in fluctuations in our share price include:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">actual
    or anticipated variations in our periodic operating results;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">increases
    in market interest rates that lead purchasers of our Common Stock to demand a higher investment return;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes
    in earnings estimates;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes
    in market valuations of similar companies;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">actions
    or announcements by our competitors;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">adverse
    market reaction to any increased indebtedness we may incur in the future;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">additions
    or departures of key personnel;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">actions
    by stockholders;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">speculation
    in the media, online forums, or investment community; and</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    intentions and ability to list our Common Stock on the NYSE MKT and our subsequent ability to maintain such listing.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

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

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>You
will experience immediate and substantial dilution as a result of this Offering.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> You will incur immediate and substantial dilution as
a result of this Offering. After giving effect to the sale by us of Shares offered in this Offering at an assumed public offering
price of $7.50 per share for aggregate gross proceeds of $15,000,000 and after deducting the Selling Agent commissions and estimated
offering expenses payable by us, investors in this Offering can expect an immediate dilution of $5.55029 per share. </P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may not be able to satisfy listing requirements of the NYSE MKT to maintain a listing of our Common Stock.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If our Common Stock is listed on the NYSE MKT, we must meet certain
financial and liquidity criteria to maintain such listing. If we violate the NYSE MKT listing requirements, our Common Stock may
be delisted. If we fail to meet any of the NYSE MKT&rsquo;s listing standards, our Common Stock may be delisted. In addition,
our board may determine that the cost of maintaining our listing on a national securities exchange outweighs the benefits of such
listing. A delisting of our Common Stock from the NYSE MKT may materially impair our stockholders&rsquo; ability to buy and sell
our Common Stock and could have an adverse effect on the market price of, and the efficiency of the trading market for, our Common
Stock. In addition, in order to list, we will be required to, among other things, file with the SEC a&nbsp;post-qualification&nbsp;amendment
to the Offering Statement, and then file an Form 8-A in order to register our shares of Common Stock under the Exchange Act. The
post-qualification amendment of the Offering Statement is subject to review by the SEC, and there is no guarantee that such amendment
will be qualified promptly after filing. Any delay in the qualification of the post-qualification amendment may cause a delay
in the initial trading of our Common Stock on the NYSE MKT. For all of the foregoing reasons, you may experience a delay between
the closing of your purchase of shares of our Common Stock and the commencement of exchange trading of our Common Stock. In addition,
the delisting of our Common Stock could significantly impair our ability to raise capital.</P>





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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> If we fail to meet the minimum requirements
for listing on the NYSE MKT, we  intend to seek to have our Common Stock quoted on the OTCQX. The OTCQX is not a stock
exchange, and if our Common Stock trades on the OTCQX rather than the NYSE MKT, there may be significantly less trading
volume and analyst coverage of, and significantly less investor interest in, our Common Stock, which may lead to lower
trading prices for our Common Stock. </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
do not expect to declare or pay dividends in the foreseeable future.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
do not expect to declare or pay dividends in the foreseeable future, as we anticipate that we will invest future earnings in the
development and growth of our business. Therefore, holders of our Common Stock will not receive any return on their investment
unless they sell their securities, and holders may be unable to sell their securities on favorable terms or at all.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Upon
the completion of this Offering, we expect to elect to become a public reporting company under the Exchange Act, and thereafter
publicly report on an ongoing basis as an &ldquo;emerging growth company&rdquo; under the reporting rules set forth under the
Exchange Act. If we elect not to do so, we will be required to publicly report on an ongoing basis under the reporting rules set
forth in Regulation A for Tier 2 issuers. In either case, we will be subject to ongoing public reporting requirements that are
less rigorous than Exchange Act rules for companies that are not &ldquo;emerging growth companies&rdquo;, and our stockholders
could receive less information than they might expect to receive from more mature public companies.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
the completion of this Offering, we expect to elect to become a public reporting company under the Exchange Act. If we elect to
do so, we will be required to publicly report on an ongoing basis as an &ldquo;emerging growth company&rdquo; (as defined in the
JOBS Act) under the reporting rules set forth under the Exchange Act. For so long as we remain an &ldquo;emerging growth company,&rdquo;
we may take advantage of certain exemptions from various reporting requirements that are applicable to other Exchange Act reporting
companies that are not &ldquo;emerging growth companies,&rdquo; including but not limited to:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">not
    being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">taking
    advantage of extensions of time to comply with certain new or revised financial accounting standards;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">being
    permitted to comply with reduced disclosure obligations regarding executive compensation in our periodic reports and proxy
    statements; and</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">being
    exempt from the requirement to hold a non-binding advisory vote on executive compensation and stockholder approval of any
    golden parachute payments not previously approved.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
expect to take advantage of these reporting exemptions until we are no longer an emerging growth company. We would remain an emerging
growth company for up to five years, although if the market value of our Common Stock that is held by non-affiliates exceeds $700
million as of any June 30 before that time, we would cease to be an emerging growth company as of the following December 31.</FONT></P>

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

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

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> If we elect not to become a public reporting company under the
Exchange Act, we will be required to publicly report on an ongoing basis under the reporting rules set forth in Regulation A for
Tier 2 issuers. The ongoing reporting requirements under Regulation A are more relaxed than for emerging growth companies under
the Exchange Act. The differences include, but are not limited to, being required to file only annual and semiannual reports,
rather than annual and quarterly reports. Annual reports are due within 120 calendar days after the end of the issuer&rsquo;s
fiscal year, and semiannual reports are due within 90 calendar days after the end of the first six months of the issuer&rsquo;s
fiscal year. If we elect not to become a public reporting company our Common Stock will not be permitted to trade on a national
securities exchange such as the NYSE MKT. Instead, we intend to have our Common Stock quoted on OTCQX.&nbsp; </P>



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





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
either case, we will be subject to ongoing public reporting requirements that are less rigorous than Exchange Act rules for companies
that are not &ldquo;emerging growth companies,&rdquo; and our stockholders could receive less information than they might expect
to receive from more mature public companies.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>As
a result of becoming a public company, we will be obligated to develop and maintain a system of effective internal control over
financial reporting. We may not complete our analysis of our internal control over financial reporting in a timely manner, or
these internal controls may not be determined to be effective, which may harm investor confidence in our company and, as a result,
the value of our Common Stock.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will be required, pursuant to Section 404 of the Sarbanes-Oxley Act, to furnish a report by management on, among other things,
the effectiveness of our internal control over financial reporting in the second annual report we file with the SEC. This assessment
will need to include disclosure of any material weaknesses identified by our management in our internal control over financial
reporting. However, our auditors will not be required to formally attest to the effectiveness of our internal control over financial
reporting pursuant to Section 404 until we are no longer an &ldquo;emerging growth company&rdquo; as defined in the JOBS Act if
we take advantage of the exemptions available to us through the JOBS Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are in the very early stages of the costly and challenging process of compiling the system and process documentation necessary
to perform the evaluation needed to comply with Section 404. In this regard, we will need to continue to dedicate internal resources,
engage outside consultants and adopt a detailed work plan to assess and document the adequacy of internal control over financial
reporting, continue steps to improve control processes as appropriate, validate through testing that controls are functioning
as documented and implement a continuous reporting and improvement process for internal control over financial reporting. As we
transition to the requirements of reporting as a public company, we may need to add additional finance staff. We may not be able
to remediate any future material weaknesses, or to complete our evaluation, testing and any required remediation in a timely fashion.
During the evaluation and testing process, if we identify one or more material weaknesses in our internal control over financial
reporting, we will be unable to assert that our internal controls are effective. If we are unable to assert that our internal
control over financial reporting is effective, or if our auditors are unable to express an opinion on the effectiveness of our
internal controls when they are required to issue such opinion, investors could lose confidence in the accuracy and completeness
of our financial reports, which could harm our stock price.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>The
preparation of our financial statements involves the use of estimates, judgments and assumptions, and our financial statements
may be materially affected if such estimates, judgments or assumptions prove to be inaccurate.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">Financial statements prepared in accordance with accounting principles
generally accepted in the United States of America typically require the use of estimates, judgments and assumptions that affect
the reported amounts. Often, different estimates, judgments and assumptions could reasonably be used that would have a material
effect on such financial statements, and changes in these estimates, judgments and assumptions may occur from period to period
over time. Significant areas of accounting requiring the application of management&rsquo;s judgment include, but are not limited
to, determining the fair value of assets and the timing and amount of cash flows from assets. These estimates, judgments and assumptions
are inherently uncertain and, if our estimates were to prove to be wrong, we would face the risk that charges to income or other
financial statement changes or adjustments would be required. Any such charges or changes could harm our business, including our
financial condition and results of operations and the price of our securities. See &ldquo;Management&rsquo;s Discussion and Analysis
of Financial Condition and Results of Operations&rdquo; for a discussion of the accounting estimates, judgments and assumptions
that we believe are the most critical to an understanding of our financial statements and our business.</P>

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

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

<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>If
securities industry analysts do not publish research reports on us, or publish unfavorable reports on us, then the market price
and market trading volume of our Common Stock could be negatively affected.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
trading market for our Common Stock will be influenced in part by any research reports that securities industry analysts publish
about us. We do not currently have and may never obtain research coverage by securities industry analysts. If no securities industry
analysts commence coverage of us, the market price and market trading volume of our Common Stock could be negatively affected.
In the event we are covered by analysts, and one or more of such analysts downgrade our securities, or otherwise reports on us
unfavorably, or discontinues coverage or us, the market price and market trading volume of our Common Stock could be negatively
affected.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
will incur increased costs as a result of operating as a public company and our management will be required to devote substantial
time to new compliance initiatives and corporate governance practices.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a public company, and particularly after we are no longer an &ldquo;emerging growth company,&rdquo; we will incur significant
legal, accounting and other expenses that we did not incur as a private company. The Sarbanes-Oxley Act, the Dodd-Frank Wall Street
Reform and Consumer Protection Act, the listing requirements of the NYSE MKT and other applicable securities rules and regulations
impose various requirements on public companies. Our management and other personnel will need to devote a substantial amount of
time to compliance with these requirements. Moreover, these rules and regulations will increase our legal and financial compliance
costs and will make some activities more time-consuming and costly. For example, we expect that these rules and regulations may
make it more difficult and more expensive for us to obtain directors&rsquo; and officers&rsquo; liability insurance, which could
make it more difficult for us to attract and retain qualified members of our board of directors. We cannot predict or estimate
the amount of additional costs we will incur as a public company or the timing of such costs.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Future
issuances of our Common Stock or securities convertible into our Common Stock, or the expiration of lock-up agreements that restrict
the issuance of new Common Stock or the trading of outstanding Common Stock, could cause the market price of our Common Stock
to decline and would result in the dilution of your holdings.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;&nbsp;</I></B></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Future issuances of our Common Stock or securities convertible
into our Common Stock, or the expiration of lock-up agreements that restrict the issuance of new Common Stock or the trading of
outstanding Common Stock, could cause the market price of our Common Stock to decline. We cannot predict the effect, if any, of
future issuances of our Common Stock or securities convertible into our Common Stock, or the future expirations of lock-up agreements,
on the price of our Common Stock. In all events, future issuances of our Common Stock would result in the dilution of your holdings.
In addition, the perception that new issuances of our Common Stock, or other securities convertible into our Common Stock, could
occur, or the perception that locked-up parties will sell their securities when the lock-ups expire, could adversely affect the
market price of our Common Stock. In connection with this Offering, the Company will enter into a lock-up agreement that prevents
it, subject to certain exceptions, from offering additional shares of Common Stock for up to 180 days after the date of this Offering
Circular, as further described in &ldquo;Plan of Distribution.&rdquo; Further, our directors, officers, more than 5% stockholders
and investors in our recent private placement are expected to enter into agreements pursuant to which, subject to certain exceptions,
such persons will not sell any shares of our Common Stock that they own for up to 180 days after the date of this Offering Circular,
as further described in &ldquo;Plan of Distribution&rdquo;. In addition to any adverse effects that may arise upon the expiration
of these lock-up agreements, the lock-up provisions in these agreements may be waived, at any time and without notice. If the
restrictions under the lock-up agreements are waived, our Common Stock may become available for resale, subject to applicable
law, including without notice, which could reduce the market price for our Common Stock.&nbsp;</P>

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

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

<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Future
issuances of debt securities, which would rank senior to our Common Stock upon our bankruptcy or liquidation, and future issuances
of preferred stock (&ldquo;Preferred Stock&rdquo;), which could rank senior to our Common Stock for the purposes of dividends
and liquidating distributions, may adversely affect the level of return you may be able to achieve from an investment in our Common
Stock.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the future, we may attempt to increase our capital resources by offering debt securities. Upon bankruptcy or liquidation, holders
of our debt securities, and lenders with respect to other borrowings we may make, would receive distributions of our available
assets prior to any distributions being made to holders of our Common Stock. Moreover, if we issue Preferred Stock, the holders
of such Preferred Stock could be entitled to preferences over holders of Common Stock in respect of the payment of dividends and
the payment of liquidating distributions. Because our decision to issue debt or preferred securities in any future offering, or
borrow money from lenders, will depend in part on market conditions and other factors beyond our control, we cannot predict or
estimate the amount, timing or nature of any such future offerings or borrowings. Holders of our Common Stock must bear the risk
that any future offerings we conduct or borrowings we make may adversely affect the level of return they may be able to achieve
from an investment in our Common Stock.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>If
our shares of Common Stock become subject to the penny stock rules, it would become more difficult to trade our shares.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">The SEC has adopted rules that regulate broker-dealer practices
in connection with transactions in penny stocks. Penny stocks are generally equity securities with a price of less than $5.00,
other than securities registered on certain national securities exchanges or authorized for quotation on certain automated quotation
systems, provided that current price and volume information with respect to transactions in such securities is provided by the
exchange or system. If we do not obtain or retain a listing on the NYSE MKT or another national securities exchange and if the
price of our Common Stock is less than $5.00, our Common Stock will be deemed a penny stock. The penny stock rules require a broker-dealer,
before a transaction in a penny stock not otherwise exempt from those rules, to deliver a standardized risk disclosure document
containing specified information. In addition, the penny stock rules require that before effecting any transaction in a penny
stock not otherwise exempt from those rules, a broker-dealer must make a special written determination that the penny stock is
a suitable investment for the purchaser and receive (i) the purchaser&rsquo;s written acknowledgment of the receipt of a risk
disclosure statement; (ii) a written agreement to transactions involving penny stocks; and (iii) a signed and dated copy of a
written suitability statement. These disclosure requirements may have the effect of reducing the trading activity in the secondary
market for our Common Stock, and therefore stockholders may have difficulty selling their shares.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our
management has broad discretion as to the use of certain of the net proceeds from this Offering.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"> We intend to use $13,325,000 of the net proceeds from this Offering
for working capital and other general corporate purposes, and $1,721,903 for repayment of outstanding debt. However, we cannot
specify with certainty the particular uses of such proceeds. Our management will have broad discretion in the application of the
net proceeds designated for use as working capital or for other general corporate purposes, which is subject to change in the
future. Accordingly, you will have to rely upon the judgment of our management with respect to the use of these proceeds. Our
management may spend a portion or all of the net proceeds from this Offering in ways that holders of our Common Stock may not
desire or that may not yield a significant return or any return at all. Our management not applying these funds effectively could
harm our business. Pending their use, we may also invest the net proceeds from this Offering in a manner that does not produce
income or that loses value. Please see &ldquo;Use of Proceeds&rdquo; below for more information. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Anti-takeover
provisions in our charter documents and under Delaware law could make an acquisition of us more difficult, limit attempts by our
stockholders to replace or remove our current management and limit the market price of our Common Stock.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions
in our certificate of incorporation and bylaws, as amended and restated in connection with this Offering, may have the effect
of delaying or preventing a change in control or changes in our management. Our amended and restated certificate of incorporation
and amended and restated bylaws will include provisions that:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">authorize
    our board of directors to issue Preferred Stock, without further stockholder action and with voting liquidation, dividend
    and other rights superior to our Common Stock;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">require
    that any action to be taken by our stockholders be effected at a duly called annual or special meeting and not by written
    consent, and limit the ability of our stockholders to call special meetings;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">establish
    an advance notice procedure for stockholder proposals to be brought before an annual meeting, including proposed nominations
    of persons for director nominees;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">establish
    that our board of directors is divided into three classes, with directors in each class serving three-year staggered terms;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">require
    the approval of holders of two-thirds of the shares entitled to vote at an election of directors to adopt, amend or repeal
    our bylaws or amend or repeal the provisions of our certificate of incorporation regarding the election and removal of directors
    and the ability of stockholders to take action by written consent or call a special meeting;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">prohibit
    cumulative voting in the election of directors; and</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">provide
    that vacancies on our board of directors may be filled only by the vote of a majority of directors then in office, even though
    less than a quorum.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
provisions may frustrate or prevent any attempts by our stockholders to replace or remove our current management by making it
more difficult for stockholders to replace members of our board of directors, which is responsible for appointing the members
of our management. In addition, because we are incorporated in Delaware, we are governed by the provisions of Section 203 of the
General Corporation Law of the State of Delaware (the &ldquo;DGCL&rdquo;), which generally prohibits a Delaware corporation from
engaging in any of a broad range of business combinations with any &ldquo;interested&rdquo; stockholder for a period of three
years following the date on which the stockholder became an &ldquo;interested&rdquo; stockholder. Any of the foregoing provisions
could limit the price that investors might be willing to pay in the future for shares of our Common Stock, and they could deter
potential acquirers of our company, thereby reducing the likelihood that you would receive a premium for your Common Stock in
an acquisition.</FONT></P>

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

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

<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><A NAME="a_005"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>USE
OF PROCEEDS</B></FONT></P>

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> If we sell Shares for aggregate gross proceeds of $15,000,000,
our net proceeds (after Selling Agent commissions of $1,125,000 and our estimated other Offering expenses of $550,000) will be
$13,325,000. We intend to use these net proceeds for: </P>





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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">debt
    repayment; and</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">working
    capital and other general corporate purposes.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
precise amounts that we will devote to each of the foregoing items, and the timing of expenditures, will vary depending on numerous
factors.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
completion of this Offering, we will be required to (i) pay the outstanding balance of promissory notes equal to an aggregate
of approximately $1,223,782 to MLSC (&ldquo;MLSC Notes&rdquo;), and (ii) pay the outstanding balance of promissory notes $498,121
to a related party note holder (&ldquo;Related Party Debt&rdquo;).</FONT> </P>

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

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> The MLSC Notes were issued during the year ended
December 31, 2011 and bear interest at the rate of 10% per annum. The principal and accrued interest was due and payable upon
the earlier of (i) June 7, 2016, (ii) the closing of a qualified financing in a single transaction or series of transactions
in any 12 month period yielding net proceeds of at least $5,000,000 (a &ldquo;Qualified Financing&rdquo;) or a qualified
sale, as defined in the promissory notes, or (iii) the occurrence of a default, as defined in the promissory notes. On May
18, 2016, we restructured the MLSC Notes, extending the maturity date from June 7, 2016 to June 7, 2017. In addition, the
Company entered into a security agreement with MLSC in connection with this restructuring, pursuant to which the MLSC Notes
became secured by substantially all the Company&rsquo;s assets. The other terms of the MLSC Notes were not changed. The
outstanding principal amount of the  MLSC Notes includes the principal amount and all accrued interest thereon in the
amount of $1,223,782. </P>





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

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

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">The Related Party Debt, originally incurred from October 2010 through
May 2011, represents promissory notes in the aggregate amount of approximately $580,800 entered into with one of our shareholders.
The promissory notes were unsecured, bore interest at a rate of 10% per annum, and were set to mature on May 25, 2016 at which
time principal and accrued interest was due and payable. On September 1, 2015, we reached an agreement with the shareholder to
modify the terms of the Related Party Debt. The promissory notes were amended and restated to include $295,658 of accrued and
unpaid interest resulting in a total principal amount of $876,458. The amended and restated promissory notes were unsecured, bore
an interest rate of 10% per annum, and matured on August 1, 2018. Any accrued and unpaid interest through September 1, 2016 was
to be converted into principal, and required monthly payments of principal and interest commencing on September 1, 2016 through
August 1, 2018.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">On June 29, 2016, we reached an agreement with the shareholder
to modify the terms of its promissory notes with us. The amended and restated promissory notes are unsecured, bear interest at
a rate of 10% per annum, and are subordinated to the Note Payable, MLSC and our convertible subordinated promissory notes. The
outstanding principal and any accrued but unpaid interest shall be due and payable upon the earlier of (i) June 7, 2017 or (ii)
within 30 days following the closing of a Qualified Financing. In the event of a closing of a Qualified Financing, we may elect,
in our sole discretion, to repay up to 50% of the outstanding principal and any accrued but unpaid interest as shall be due and
payable under this note as of the date of the Qualified Financing by issuing shares our equity issued in the Qualified Financing,
equal to 80% of the price per share paid by the purchasers of such equity in the Qualified Financing.</P>



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

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

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

<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth a breakdown of our estimated use of our net proceeds as we currently expect to use them, assuming the
sale of, respectively, 100%, 75%, 50% and 25% of the Shares (based on an offering amount of $15,000,000).</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> Assumed Percentage
    of Shares Sold </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: center"> 100% </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: center"> 75% </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: center"> 50% </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: center"> 25% </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> Price to public </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 15,000,000 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 11,250,000 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 7,500,000 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 3,750,000 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> Selling agent commissions </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 1,125,000 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 843,750 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 562,500 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 281,250 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left; padding-bottom: 1.5pt"> Other offering
    expenses </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 550,000 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 550,000 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 550,000 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 550,000 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> Net proceeds </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 13,325,000 </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 9,856,250 </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 6,387,500 </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 2,918,750 </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> Repayment of MLSC Note and 50% of Related
    Party Debt </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 1,721,903 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 1,721,903 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 1,721,903 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 1,721,903 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left; padding-bottom: 1.5pt"> Working capital </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> <FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">11,
                                         603,097</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 8,134,347 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 4,665,597 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 1,196,847 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left; padding-bottom: 4pt"> Total use of proceeds </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 13,325,000 </TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 9,856,250 </TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 6,387,500 </TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 2,918,750 </TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD></TR>
</TABLE>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
expected use of net proceeds from this Offering represents our intentions based upon our current plans and business conditions,
which could change in the future as our plans and business conditions evolve and change. The amounts and timing of our actual
expenditures, specifically with respect to working capital, may vary significantly depending on numerous factors. As a result,
our management will retain broad discretion over the allocation of the net proceeds from this Offering.</FONT></P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">In the event we do not sell all of the Shares, we may seek
additional financing from other sources in order to support the intended use of proceeds indicated above. If we secure additional
equity funding, investors in this Offering would be diluted. In all events, there can be no assurance that additional financing
would be available to us when desired or needed and, if available, on terms acceptable to us.&nbsp;</P>

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

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

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 8pt; text-align: center"><A NAME="a_006"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CAPITALIZATION</B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth our capitalization as of December 31, 2016:</FONT> </P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on
    an actual basis; and</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on
    a pro forma basis, assuming the sale in this Offering of the maximum amount of Shares, at the price to the public of $7.50
    per share, resulting in net proceeds to us of $13,325,000, after deducting selling agent commissions of $1,125,000 and our
    estimated other offering expenses of $550,000 and assuming (i) the automatic conversion of an aggregate of 960,083 shares
    of Series A-1 Preferred Stock (the &ldquo;Series A-1 Preferred Stock&rdquo;) into 960,083 shares of Common Stock, (ii) the
    automatic conversion of an aggregate of 1,662,104 shares of Series B-1 Preferred Stock (the &ldquo;Series B-1 Preferred Stock&rdquo;)
    into 1,662,104 shares of Common Stock, (iii) automatic conversion of all convertible notes into 580,823 shares (iv) a related
    party exchanging 50% of a note for 83,020 shares of Common Stock, &nbsp;(v) the repayment of an aggregate of $1,223,782 to
    MLSC, and (vi) the repayment of $498,121 to pursuant to the Related Party Debt, each in conjunction with the closing of this
    Offering.</FONT> </TD></TR>
</TABLE>


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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Actual </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> Assuming
    Maximum Offering Amount </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: center"> (Unaudited) </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-family: Times New Roman,serif; font-weight: bold; text-align: left; padding-bottom: 4pt"> Cash
    and Cash Equivalents </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="width: 9%; border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 797,174 </TD><TD STYLE="width: 1%; padding-bottom: 4pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="width: 9%; border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 12,400,271 </TD><TD STYLE="width: 1%; padding-bottom: 4pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left; padding-bottom: 1.5pt"> Short and long
    term debt &ndash; promissory notes and convertible debt </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 5,454,677 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> -- </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> Redeemable convertible preferred stock: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> Series B-1 preferred stock (liquidation preference of
    $9,701,313) </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 8,174,693 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> -- </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left; padding-bottom: 1.5pt"> Series A-1 preferred stock (liquidation
    preference of $4,740,066) </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 4,497,548 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> -- </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 12,672,241 </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: right"> -- </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> Shareholders&rsquo; (deficit) equity: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> Common stock </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 112 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 641 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> Additional paid-in capital </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 5,351,204 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 35,485,480 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> Accumulated deficit </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> (22,875,308 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> ) </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> (22,875,308 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left; padding-bottom: 1.5pt"> Treasury Stock </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> (6,464 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> ) </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> (6,464 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: right"> (17,530,456 </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> ) </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 12,604,349 </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left; padding-bottom: 4pt"> Total Capitalization </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> (596,462 </TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> ) </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 12,604,349 </TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD></TR>
</TABLE>



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

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> You should read this table together with our financial
statements as of and for the years ended December 31, 2016 and 2015, and the related notes thereto, included elsewhere in this
Offering Circular. Our use of proceeds from this Offering is discussed under &ldquo;Use of Proceeds.&rdquo; (1) The table above
excludes (unless stated otherwise above): </P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; line-height: 115%"> &nbsp; </TD>
    <TD STYLE="width: 24px; line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">&#9679;</FONT> </TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">10,781
    shares issuable upon the exercise of warrants, with a weighted-average exercise price of approximately $3.5136 per share;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"> &nbsp; </TD>
    <TD STYLE="line-height: 115%"> &nbsp; </TD>
    <TD STYLE="line-height: 115%"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"> &nbsp; </TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">&#9679;</FONT> </TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">420,867
    shares issuable upon the exercise of warrants, based on the price per share of in the Offering;</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; line-height: 115%"> &nbsp; </TD>
    <TD STYLE="width: 24px; line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">&#9679;</FONT> </TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">246,344
    shares issuable upon exercise of stock options under the Company&rsquo;s 2004 Stock Option and Incentive Plan, (the &ldquo;2004
    Plan&rdquo;), and the 2014 Stock Option and Grant Plan, (the &ldquo;2014 Plan&rdquo;) with a weighted-average exercise price
    $0.2944 per share.</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; line-height: 115%"> &nbsp; </TD>
    <TD STYLE="width: 24px; line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">&#9679;</FONT> </TD>
    <TD STYLE="line-height: 115%"> 636,141 shares available for future issuance under our 2014 Plan, as amended on August 23,
2016; </TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 24px; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">&#9679;</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">562,500
    shares that will become available for future issuance under our 2016 Equity Incentive Plan, which we expect to adopt in connection
    with this Offering; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 24px; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">&#9679;</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">100,000
    shares issuable upon exercise of the warrants to be issued to the Selling Agent, or its designated affiliates, in connection
    with this Offering.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">To the extent such stock options or warrants are hereafter
exercised, or awards made under such equity compensation plan result in the issuance of additional shares of our Common Stock,
there will be further dilution to our investors in the Offering.</P>



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

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

<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><A NAME="a_007"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DILUTION</B></FONT></P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left">Dilution in net tangible book value per
share to new investors is the amount by which the offering price paid by the purchasers of the shares of Common Stock sold in
the offering exceeds the pro forma net tangible book value per share of Common Stock after the offering. Net tangible book value
per share is determined at any date by subtracting our total liabilities from the total book value of our tangible assets and
dividing the difference by the number of shares of Common Stock deemed to be outstanding at that date.</P>

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> The pro forma net tangible book value of our Common Stock
as of December 31, 2016 was approximately $(0.83)&nbsp;million, or $(0.18756)&nbsp;per share. </P>





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt; text-align: left">&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> After giving the effect to the sale of 2,000,000 shares
of our Common Stock in the Offering at the price to the public of $7.50000 per share and after deducting the selling agent commissions
and our estimated offering expenses, the pro forma net tangible book value would be approximately $12.5 million, or $1.94971 per
share. This represents an immediate increase in net tangible book value of $2.13727 per share to existing stockholders and an
immediate dilution of $5.55029 per share to new investors purchasing shares of Common Stock in the Offering. The following table
illustrates this substantial and immediate per share dilution to new investors. </P>







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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">The following table illustrates this dilution on a per share
basis:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> Assumed initial public offering price per share of Common
    Stock </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"> 7.50000 </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left; padding-left: 10pt"> Pro forma net tangible book value
    per share before giving effect to the Offering </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> (0.18756 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> ) </TD><TD> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD>
                                                                                                                                                                                                                                                <TD> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left; padding-bottom: 1.5pt; padding-left: 10pt"> Increase in
    pro forma net tangible book value per share attributable to the sale of Common Stock in the Offering(1) </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 2.13727 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD>
                                                                                                                                                                                                                                                                                                                                                    <TD> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left; padding-bottom: 1.5pt"> Pro forma net tangible book value
    per share after giving effect to the Offering(3) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 1.94971 </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left; padding-bottom: 4pt; width: 76%"> Dilution in net tangible
    book value per share to new investors(2) </TD><TD STYLE="padding-bottom: 4pt; width: 1%"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 4pt; text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: right; width: 9%"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt; text-align: left; width: 1%"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt; width: 1%"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left; width: 1%"> $ </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right; width: 9%"> 5.55029 </TD><TD STYLE="width: 1%"> &nbsp; </TD></TR>
</TABLE>



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">(1) After deducting the selling agent commissions and estimated
expenses payable by the Company in the Offering.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">(2) Dilution is determined by subtracting pro forma net
tangible book value per share after giving effect to the offerings from the initial public offering price per share paid by a
new investor.</P>

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"> (3) Pro forma net tangible book value  is net tangible book value
assuming (i) the automatic conversion of an aggregate of 960,083 shares of Series A-1 Preferred Stock (the &ldquo;Series A-1
Preferred Stock&rdquo;) into 960,083 shares of Common Stock, (ii) the automatic conversion of an aggregate of 1,662,104
shares of Series B-1 Preferred Stock (the &ldquo;Series B-1 Preferred Stock&rdquo;) into 1,662,104 shares of Common Stock,
(iii) automatic conversion of all convertible notes into 580,823 shares (iv) a related party exchanging 50% of a note for
83,020 shares of Common Stock, &nbsp;(v) the repayment of an aggregate of $1,223,782 to MLSC, and (vi) the repayment of
$498,123 to pursuant to the Related Party Debt, each in conjunction with the closing of this Offering. </P>

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





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> The following table sets forth,
assuming the sale of 2,000,000 shares of our Common Stock offered for sale in this Offering, as of December 31, 2016, the total
number of shares previously issued and sold to existing investors including holders of our Preferred Stock, the total consideration
paid for the foregoing and the average price per share. As the table shows, new investors purchasing shares of Common Stock may
in certain circumstances pay an average price per share substantially higher than the average price per shares paid by our existing
stockholders. </P>







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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> Number of </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> Purchased </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> Total </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> Consideration </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0"> December
                                         31, 2016 </P>


</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Shares </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Percent </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Amount </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> Percent </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> &nbsp; </TD><TD STYLE="font-size: 10pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> Existing Stockholders </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 3,746,265 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 58.44 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 17,735,000 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 48.24 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> Convertible Note Holders </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 580,823 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 9.06 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 3,533,000 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 9.61 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> Related Party Note Holders </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 83,020 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 1.30 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 498,000 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 1.35 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"> New Investors </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,000,000 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 31.20 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 15,000,000 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 40.80 </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; padding-left: 10pt"> Total </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> 6,410,108 </TD><TD STYLE="padding-bottom: 4pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> 100.00 </TD><TD STYLE="padding-bottom: 4pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> % </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> 36,766,000 </TD><TD STYLE="padding-bottom: 4pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> 100.00 </TD><TD STYLE="padding-bottom: 4pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> % </TD></TR>
</TABLE>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: left"></P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> During the year ended December
31, 2016, we granted 65,313 options for Common Stock to officers, directors and affiliated persons. No stock options were given
to any promoter during this period. No other right to acquire shares was given to any of the aforementioned individuals or entities.
During this same period, 104,642 shares of Common Stock were issued to these individuals or entities as a result of stock options
being exercised. The average exercise price of these grants, and of these exercises, was $0.40532, or $0.09468 less than the assumed
offering price per share of Common Stock. </P>







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

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

<!-- Field: Page; Sequence: 30; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><A NAME="a_008"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PLAN
OF DISTRIBUTION</B></FONT></P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> <B>Agreement with the Selling Agent</B> </P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> We entered into an Engagement Letter with the Selling
Agent on April 15, 2016 which is effective until June 30, 2017. On March 16, 2017, we entered into a Selling Agency Agreement
with the Selling Agent. The term of the Selling Agency Agreement began on March 16, 2017 and will continue until August 30, 2017,
as may be extended for not more than thirty (30) days by us and the Selling Agent. The Selling Agent may terminate the Selling
Agency Agreement upon certain events in its sole discretion. </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> &nbsp; </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> <B><I>Compensation for Advisory Services</I>. </B>As
part of the Engagement Letter, the Selling Agent agreed to provide us with advice with regard to (i) our business, (ii) entering
the U.S. capital markets, (iii) the contemplated marketing and development of the Company as a public company and (iv) our ongoing
compliance obligations as a public company. As compensation for these advisory services, we agreed to pay the Selling Agent $7,500
per month commencing upon the Company&rsquo;s stock becoming publicly traded and continuing for a period of 2 months thereafter. </P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><I>Offering Expenses</I>. </B>We are responsible for
all Offering fees and expenses, including the following: (i) fees and disbursements of our legal counsel, accountants, and other
professionals we engage; (ii) fees and expenses incurred in the production of Offering documents, including design, printing,
photograph, and written material procurement costs; (iii) all filing fees, including those charged by the Financial Industry Regulatory
Authority (&ldquo;FINRA&rdquo;); (iv) all of the legal fees related to FINRA clearance; and (v) our transportation, accommodation,
and other roadshow expenses (up to a maximum of $10,000 which shall be pre-approved by the Company). We have agreed to reimburse
the Selling Agent for its reasonable and documented legal costs (the Company must pre-approve any expenses in excess of $1,000)
up to a maximum of $25,000.</P>

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

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

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"> Additionally, the Company agreed to pay $20,000 as
an advance against the due diligence fee upon signing of the engagement agreement. Any advances received by the Selling Agent
or related person from the Company that are unused, in the event of the Offering does not close or the engagement agreement is
terminated for any reason, shall be returned to the Company in compliance with FINRA Rule <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">5110(f)(2)(C).</FONT> </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Reimbursable
Expenses in the Event of Termination</I>. </B>In the event the Offering does not close or the engagement agreement is terminated
for any reason, we have agreed to reimburse the Selling Agent for all unreimbursed, reasonable, documented, out-of-pocket fees,
expenses, and disbursements, including the Selling Agent&rsquo;s legal fees, up to $15,000.</FONT></P>


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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> <B><I>Selling Agent Commission</I>. </B>Pursuant to the
Selling Agency Agreement, we shall pay a commission of 7.5% of the gross proceeds received by the Company in the Offering, which
shall be allocated by the Selling Agent to members of the selling group and soliciting dealers in its sole discretion provided
however, that the commission shall be reduced to 4% for any proceeds received from sales/orders placed through the Selling Agent&rsquo;s
affiliated online platform known as BANQ by investors the Company directly introduces to the Selling Agent through its marketing
campaign or from existing security holders of the Company. </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Selling
Agent&rsquo;s Warrants</B></FONT></P>

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


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Upon each closing of this Offering, we have agreed to issue
certain warrants (the &ldquo;Selling Agent&rsquo;s Warrants&rdquo;) to the Selling Agent to purchase a number of shares of the
Common Stock equal to 5.0% of the total shares of the Common Stock sold in such closing. The Selling Agent&rsquo;s Warrants are
exercisable commencing six months after the date of the applicable closing until the close of business on the five (5) year anniversary
of the qualification date of the Offering Statement. The Selling Agent&rsquo;s Warrants are not redeemable by us. The exercise
price for the Selling Agent&rsquo;s Warrants will be the amount that is 10% greater than the public offering price, or $8.25.&nbsp;</P>

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

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

<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Selling Agent&rsquo;s Warrants and the Common Stock underlying the Selling Agent&rsquo;s Warrants have been deemed compensation
by FINRA and are therefore subject to a 180-day lock-up pursuant to Rule 5110(g)(1) of FINRA. The Selling Agent, or permitted
assignees under such rule, may not exercise, sell, transfer, assign, pledge, or hypothecate the Selling Agent&rsquo;s Warrants
or the Common Stock underlying the Selling Agent&rsquo;s Warrants, nor will the Selling Agent or permitted assignees engage in
any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the Selling
Agent&rsquo;s Warrants or the underlying shares for a period of 180 days from the applicable closing, except that they may be
transferred, in whole or in part, by operation of law or by reason of our reorganization, or to any underwriter or selected dealer
participating in the Offering and their officers or partners if the Selling Agent&rsquo;s Warrants or the underlying shares so
transferred remain subject to the foregoing lock-up restrictions for the remainder of the time period. The Selling Agent&rsquo;s
Warrants will provide for adjustment in the number and price of the Selling Agent&rsquo;s Warrants and the shares underlying such
Selling Agent&rsquo;s Warrants in the event of recapitalization, merger, stock split, or other structural transaction, or a future
financing undertaken by us.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Lock-Up
Agreements</B></FONT></P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">We and our officers, directors, and more than 5% holders
of our Common Stock as of the qualification of the Offering Statement and investors in our recent private placement have agreed,
or will agree, with the Selling Agent, subject to certain exceptions, that, without the prior written consent of the Selling Agent,
we and they will not, directly or indirectly, during the period ending 180 days after the date of the final closing of the Offering:&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">offer,
    pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any
    option, right or warrant for the sale of, or otherwise dispose of or transfer any shares of the Common Stock or any securities
    convertible into or exchangeable or exercisable for the Common Stock, whether now owned or hereafter acquired by the undersigned
    or with respect to which the undersigned has or hereafter acquires the power of disposition; or</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">enter
    into any swap or any other agreement or any transaction that transfers, in whole or in part, the economic consequence of ownership
    of the Common Stock, whether any such swap or transaction is to be settled by delivery of the Common Stock or other securities,
    in cash or otherwise.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
agreement does not apply, in our case, to securities issued pursuant to existing employee benefit plans or securities issued upon
exercise of options, and other exceptions, and in the case of our officers, directors and other holders of our securities, exercise
of stock options issued pursuant to a stock option or similar plans, and other exceptions.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exchange
Listing</B></FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> We have applied to the NYSE MKT to list shares of our Common
Stock under the symbol &ldquo;MYO.&rdquo; In order to meet one of the requirements for listing our Common Stock on the NYSE MKT,
the Selling Agent intends to sell lots of 100 or more shares to a minimum of 400 beneficial holders. Our Common Stock will not
commence trading on the NYSE MKT until each of the following conditions are met: (i) the Offering is terminated; and (ii) we have
filed a post-qualification amendment to the Offering Statement and a registration statement on Form 8-A; and such post-qualification
amendment is qualified by the SEC and the Form 8-A has become effective. Pursuant to applicable rules under Regulation A, the
Form 8-A will not become effective until the SEC qualifies the post-qualification amendment. We intend to file the post-qualification
amendment and request its qualification immediately prior to the termination of the offering in order that the Form 8-A may become
effective as soon as practicable. Even if we meet the minimum requirements for listing on the NYSE MKT, we may wait before terminating
the offering and commencing the trading of our Common Stock on the NYSE MKT in order to raise additional proceeds. As a result,
you may experience a delay between the closing of your purchase of shares of our Common Stock and the commencement of exchange
trading of our Common Stock on the NYSE MKT. </P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> If we fail to meet the minimum requirements for listing
on the NYSE MKT, we &nbsp;intend to seek quotation of our Common Stock on the OTCQX and would anticipate quotation on the OTCQX to begin
following the termination of this Offering. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;<B>Pricing
                                         of the Offering</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the Offering, there has been no public market for the Shares. The initial public offering price was determined by negotiation
between us and the Selling Agent. The principal factors considered in determining the initial public offering price include:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    information set forth in this Offering Circular and otherwise available to the Selling Agent;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    history and prospects and the history of and prospects for the industry in which we compete;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    past and present financial performance;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    prospects for future earnings and the present state of our development;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    general condition of the securities markets at the time of this Offering;</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    recent market prices of, and demand for, publicly traded common stock of generally comparable companies; and</FONT></TD></TR>

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; padding: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">other
    factors deemed relevant by the Selling Agent and us.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Indemnification
and Control</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have agreed to indemnify the Selling Agent against certain liabilities, including liabilities under the Securities Act. If we
are unable to provide this indemnification, we will contribute to the payments the Selling Agent and its affiliates and controlling
persons may be required to make in respect of these liabilities.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Selling Agent and its affiliates are engaged in various activities, which may include securities trading, commercial and investment
banking, financial advisory, investment management, investment research, principal investment, hedging, financing and brokerage
activities. The Selling Agent and its affiliates may in the future perform various financial advisory and investment banking services
for us, for which they received or will receive customary fees and expenses.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Our
Relationship with the Selling Agent</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the ordinary course of their various business activities, the Selling Agent and its affiliates may make or hold a broad array
of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including
bank loans) for their own account and for the accounts of their customers, and such investment and securities activities may involve
securities and/or instruments of the issuer. The Selling Agent and its affiliates may also make investment recommendations and/or
publish or express independent research views in respect of such securities or instruments, or recommend to clients that they
acquire, long and/or short positions in such securities and instruments.</FONT></P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> <B>Investment Limitations if We Do Not Obtain a Listing
on a National Securities Exchange</B> </P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> As set forth in Title IV of the JOBS Act, there are no
limits on how many shares an investor may purchase if the Offering results in a listing of our Common Stock on the NYSE MKT or
other national securities exchange. The following would apply only if we are unable to obtain a listing on a national securities
exchange and we seek for our Common Stock to trade on a platform of the OTC Markets. </P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Generally, in the case of trading on the over-the-counter
markets, no sale may be made to you in this Offering if the aggregate purchase price you pay is more than 10% of the greater of
your annual income or net worth (please see under &ldquo;How to calculate your net worth&rdquo;). Different rules apply to accredited
investors and non-natural persons. Before making any representation that your investment does not exceed applicable thresholds,
we encourage you to review Rule 251(d)(2)(i)(C) of Regulation A. For general information on investing, we encourage you to refer
to <U>www.investor.gov</U>. </P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Because this is a Tier 2, Regulation A offering, most
investors in the case of trading on the over-the-counter markets must comply with the 10% limitation on investment in the Offering.
The only investor in this Offering exempt from this limitation is an &ldquo;accredited investor&rdquo; as defined under Rule 501
of Regulation D under the Securities Act (an &ldquo;Accredited Investor&rdquo;). If you meet one of the following tests you should
qualify as an Accredited Investor: </P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are a natural person who has had individual income in excess of $200,000 in each of the two most recent years, or joint income
with your spouse in excess of $300,000 in each of these years, and have a reasonable expectation of reaching the same income level
in the current year; </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> &nbsp; </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are a natural person and your individual net worth, or joint net worth with your spouse, exceeds $1,000,000 at the time you purchase
Shares (please see below under &ldquo;How to calculate your net worth&rdquo;); </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> &nbsp; </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are an executive officer or general partner of the issuer or a manager or executive officer of the general partner of the issuer; </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 36pt"></P>

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 36pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 36pt"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> (iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, or the Code, a corporation,
a Massachusetts or similar business trust or a partnership, not formed for the specific purpose of acquiring the Shares, with
total assets in excess of $5,000,000; </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> &nbsp; </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> (v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are a bank or a savings and loan association or other institution as defined in the Securities Act, a broker or dealer registered
pursuant to Section 15 of the Exchange Act, an insurance company as defined by the Securities Act, an investment company registered
under the Investment Company Act of 1940 (the &ldquo;Investment Company Act&rdquo;), or a business development company as defined
in that act, any Small Business Investment Company licensed by the Small Business Investment Act of 1958 or a private business
development company as defined in the Investment Advisers Act of 1940; </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> &nbsp; </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> (vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are an entity (including an Individual Retirement Account trust) in which each equity owner is an accredited investor; </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> &nbsp; </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> (vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are a trust with total assets in excess of $5,000,000, your purchase of Shares is directed by a person who either alone or with
his purchaser representative(s) (as defined in Regulation D promulgated under the Securities Act) has such knowledge and experience
in financial and business matters that he is capable of evaluating the merits and risks of the prospective investment, and you
were not formed for the specific purpose of investing in the Shares; or </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> &nbsp; </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> (viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are a plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its
political subdivisions, for the benefit of its employees, if such plan has assets in excess of $5,000,000. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 36pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Offering
Period and Expiration Date</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Offering will start on or after the date that the Offering is qualified by the SEC and will terminate on the Termination Date.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Procedures
for Subscribing</B></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> U.S. investors may participate in this Offering by opening
an account with BANQ&reg;, an online brokerage division of TriPoint, the Selling Agent. The BANQ&reg; website may be found at
<U>Banq.co</U>. BANQ&reg; is open to qualified U.S. investors and accepts individual, joint, corporate or IRA accounts. The application
process takes approximately 5 minutes and there are no account minimums. Deposits to BANQ&reg; can be made via wire transfer or
ACH deposit or by mailing in a check. Deposits usually post to an account within 3-5 days. BANQ<SUP>&reg;</SUP> is a division
of the Selling Agent. TriPoint and BANQ do not charge a fee for opening an account or for depositing shares purchased in the Offering
into such account.&nbsp; </P>




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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Investors investing through BANQ&reg; will be required
to open their accounts and deposit funds into their respective BANQ&reg; accounts after the qualification of this Offering Statement
relating to this Offering but prior to the applicable closing of this Offering in which such investor is participating; in all
events, no funds may be used to purchase securities issued in this Offering until the Offering Statement relating to this Offering
and filed by the Company with the SEC has been qualified by the SEC. After an account is opened but before 48 hours prior to the
applicable closing of the Offering, the investor will be required to deposit funds into the account sufficient to purchase the
amount of securities that the investor intends to purchase in this Offering. Such funds will not be held in an escrow account
or otherwise segregated as part of the Offering process. During the marketing period for the Offering and after the Offering Statement
has been qualified, the investor will provide an indication of interest as to the amount of securities the investor intends to
purchase. Forty-eight (48) hours prior to the completion of a closing in this Offering, each investor that has money deposited
with BANQ&reg; for this Offering will be asked by BANQ&reg; via e-mail and notification to the secure messages section of the
website for the BANQ&reg; online brokerage account to confirm and finalize the indication of the amount of securities such investor
wishes to purchase. Indications will not be finalized without sufficient funds in the investor&rsquo;s BANQ&reg; online brokerage
account. Upon the applicable closing, the funds required to purchase that amount of securities will be removed from such investor&rsquo;s
account and transferred to the account of the Company, and the amount of securities purchased will be deposited into such investor&rsquo;s
account. If an investor fails to confirm such investor&rsquo;s desired investment within the required time, no funds will be withdrawn,
no securities will be provided and the investor&rsquo;s indication will not be confirmed. In addition, if this Offering fails
to close, no funds will be withdrawn, no securities will be provided, the investor&rsquo;s indication will not be confirmed and
the funds in the investor&rsquo;s BANQ&reg; account will remain available for withdrawal, in accordance with the investor&rsquo;s
account agreement with BANQ&reg;.&nbsp; </P>



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

<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> U.S. investors who participate in this Offering other
than through BANQ&reg;, including through selected dealers, who do not have clearing agreements, will be required to deposit their
funds in an escrow account held at Wilmington Trust, N.A.; any such funds that Wilmington Trust receives shall be held in escrow
until the applicable closing of the Offering or such other time as mutually agreed between the Company and the Selling Agent,
and then used to complete securities purchases, or returned if this Offering fails to close. </P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Selected Dealers with clearing agreements shall
provide the Selling Agent with executed subscriptions from their customers and shall settle the transaction with the Selling
Agent through DTC on closing. In the event that the Company does not qualify or list on the NYSE MKT, Selected Dealers
who are unable to participate in an over the counter security may withdraw their subscriptions prior to closing. </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-U.S.
investors may participate in this Offering by depositing their funds in the escrow account held at Wilmington Trust, N.A.; any
such funds that Wilmington Trust receives shall be held in escrow until the applicable closing of the Offering or such other time
as mutually agreed between the Company and the Selling Agent, and then used to complete securities purchases, or returned if this
Offering fails to close.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Right to Reject Subscriptions</I>. After we receive your complete,
executed subscription agreement (forms of which are attached to the Offering Statement as Exhibits 4.1 and 4.2) and the funds
required under the subscription agreement have been transferred to the escrow account, we have the right to review and accept
or reject your subscription in whole or in part, for any reason or for no reason. We will return all monies from rejected subscriptions
immediately to you, without interest or deduction.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Acceptance
of Subscriptions</I>. Upon our acceptance of a subscription agreement, we will countersign the subscription agreement and issue
the shares subscribed at closing. Once you submit the subscription agreement and it is accepted, you may not revoke or change
your subscription or request your subscription funds. All accepted subscription agreements are irrevocable.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">Under Rule 251 of Regulation A, if our Common Stock will not
trade on a national securities exchange, non-accredited, non-natural investors are subject to the investment limitation and may
only invest funds which do not exceed 10% of the greater of the purchaser&rsquo;s revenue or net assets (as of the purchaser&rsquo;s
most recent fiscal year end). If our Common Stock will not trade on a national securities exchange, a non-accredited, natural
person may only invest funds which do not exceed 10% of the greater of the purchaser&rsquo;s annual income or net worth (please
see below on how to calculate your net worth).&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>How
to Calculate Net Worth</I>: For the purposes of calculating your net worth, it is defined as the difference between total assets
and total liabilities. This calculation must exclude the value of your primary residence and may exclude any indebtedness secured
by your primary residence (up to an amount equal to the value of your primary residence). In the case of fiduciary accounts, net
worth and/or income suitability requirements may be satisfied by the beneficiary of the account or by the fiduciary, if the fiduciary
directly or indirectly provides funds for the purchase of the Shares.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
order to purchase the Shares and prior to the acceptance of any funds from an investor, an investor will be required to represent,
to the Company&rsquo;s satisfaction, that he is either an accredited investor or is in compliance with the 10% of net worth or
annual income limitation on investment in this Offering.</FONT></P>

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



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

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

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

<!-- Field: Page; Sequence: 35; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"> <A NAME="a_009"></A> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MANAGEMENT&rsquo;S
DISCUSSION AND ANALYSIS OF</B></FONT> <BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FINANCIAL CONDITION AND RESULTS OF OPERATIONS</B></FONT> </P>

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

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>You
should read the following discussion and analysis of our financial condition and results of our operations together with our financial
statements and the notes thereto appearing elsewhere in this Offering Circular. This discussion contains forward-looking statements
reflecting our current expectations, whose actual outcomes involve risks and uncertainties. Actual results and the timing of events
may differ materially from those stated in or implied by these forward-looking statements due to a number of factors, including
those discussed in the sections entitled &ldquo;Risk Factors,&rdquo; &ldquo;Cautionary Statement regarding Forward-Looking Statements&rdquo;
and elsewhere in this Offering Circular.</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Overview</B></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Myomo
is a medical device company in the medical robotics industry, specializing in myoelectric braces (orthotics) for people with neuromuscular
disorders. We are the developer of the MyoPro&reg; product line, which is a myoelectric-controlled upper limb brace (orthosis).
The orthosis is a rigid brace used for the purpose of supporting a patient&rsquo;s weak or deformed arm to enable and improve
functional activities of daily living (&ldquo;ADLs&rdquo;) in the home and community. It is uniquely constructed by a qualified
orthotics and prosthetics (&ldquo;O&amp;P&rdquo;) practitioner during a custom fabrication process for each individual user to
meet their specific needs. Our products are designed to help restore function in individuals with neuromuscular conditions due
to brachial plexus injury, stroke, traumatic brain injury, spinal cord injury and other neurological disorders. We sell our products
through O&amp;P providers, the United States Department of Veterans Affairs (the &ldquo;VA&rdquo;) and our exclusive distributor
for certain accounts and geographic markets, Ottobock.&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
myoelectric orthoses have been clinically shown in peer reviewed published research studies to help restore the ability to complete
functional tasks by supporting the affected joint and enabling individuals to self-initiate and control movement of their partially
paralyzed limbs by using their own muscle signals.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
technology was originally developed at the Massachusetts Institute of Technology (&ldquo;MIT&rdquo;) in collaboration with medical
experts affiliated with Harvard Medical School. Myomo was incorporated in 2004 and completed licensing of its technology from
MIT in 2006. During the period between 2006 and 2012, our earlier product lines (e100 and mPower models) were sold as capital
equipment to rehabilitation facilities with the goal of providing short term access to myoelectric braces to patients receiving
rehabilitation therapy and as universal-size devices to be used in the home.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2012, we introduced the MyoPro, a custom fabricated limb brace (orthosis) that is individually fabricated for the patient over
a positive model of the patient; this fitting process requires specialized education, training, and experience to custom-fabricate
and provision to the patient. The primary business focus shifted during this time period to providing an assistive device through
O&amp;P practices to patients who are otherwise impaired for use at home, work, and in the community that facilitates activities
of daily living.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
2015, we extended our basic MyoPro for the elbow with the introduction of the MyoPro Motion W, a multi-articulated non-powered
wrist and the MyoPro Motion G, which includes a powered grasp. The MyoPro Motion W allows the user to use their sound arm to adjust
the device and then, for instance, open a refrigerator door, carry a shopping bag, hold a cell phone, or stabilize themselves
to avoid a fall and potential injury. The MyoPro Motion G model allows users with severely weakened or clenched hands, such as
seen in certain stroke survivors, to open and close their hands and perform a large number of ADLs. We also entered into a distribution
agreement with &Ouml;ssur, a major provider of orthotic and prosthetic devices, to resell our product to VA hospitals in the US,
thus increasing our sales presence.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
expanded distribution channel and new product introductions such as the MyoPro Motion G have yielded greater orders and revenues
during 2016, as compared to the prior year period. We currently sell almost exclusively in the United States. We expect to obtain
the CE Mark for the MyoPro in 2017. This will enable us to sell the MyoPro to individuals in the Europe Union (EU). We have recently
signed an agreement with Ottobock, the largest global provider of orthotic and prosthetic devices, to begin distributing the MyoPro
product line in the US, Canada, and Germany in 2017. This new reseller agreement replaces the &Ouml;ssur contract, which expired
in December 2016. In accordance with the terms of this new agreement, Ottobock has agreed to certain minimum purchase requirements
during the year ending December 31, 2017. These minimum purchase requirements are higher than those under our &Ouml;ssur contract.
Accordingly, we expect that our revenue generated from our primary reseller will be higher in the year ending December 31, 2017
than in prior years.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

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

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Recent
Developments</B></FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed
Initial Public Offering</B></FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> &nbsp;&nbsp; </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> </P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"> We entered into an Engagement Letter with the Selling Agent on April
15, 2016 which is effective until June 30, 2017. On March 16, 2017, we entered into a Selling Agency Agreement with the Selling
Agent. The term of the Selling Agency Agreement began on March 16, 2017 and will continue until August 30, 2017, as may be extended
for not more than thirty (30) days by us and the Selling Agent. The Selling Agent may terminate the Selling Agency Agreement upon
certain events in its sole discretion. </P>



<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"> The Selling Agent will act on a &ldquo;best efforts&rdquo; basis and
serve as the lead selling agent on this Offering. The Selling Agency Agreement provides for a placement fee of 7.5%, however this
fee will be reduced to 4% for any proceeds received from investors introduced by us to the investment banking firm. In addition,
the Selling Agent will receive five-year warrants to purchase shares of Common Stock equal to 5% of the total number of shares
offered in the final offering statement with an exercise price at a 10% premium to the offering price. See &ldquo;Plan of Distribution&rdquo;
for additional information. </P>



<P STYLE="font: 10pt/105% Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2016
Convertible Promissory Notes</B></FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 30, 2016, we began a new offering (the &ldquo;Convertible Note Offering&rdquo;) of subordinated convertible promissory notes
bearing an interest rate of 8% per annum and which mature in December 31, 2018 (the &ldquo;Maturity Date&rdquo;), at which time
the principal and any accrued but unpaid interest shall be due and payable on demand (the &ldquo;Notes&rdquo;). In the event we
consummate, prior to the Maturity Date, an equity financing pursuant to which we sell Common Stock, Preferred Stock or other equity
or equity-linked securities with aggregate gross proceeds of not less than $5,000,000 (the &ldquo;Next Equity Financing&rdquo;),
excluding any and all indebtedness under the Notes that is converted into such equity securities, the outstanding principal of
the Notes and any accrued but unpaid interest will be automatically converted into the equity securities.</FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
number of shares of equity securities to be issued upon such automatic conversion shall be equal to the quotient obtained by dividing
the entire principal amount plus accrued interest by the lower of (i) a price per share equal to $35,000,000 divided by the aggregate
number of shares of capital stock outstanding on a fully diluted basis immediately prior to the initial closing of the Next Equity
Financing, and (ii) eighty percent (80%) of the price per share of the equity securities.</FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/105% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event of a Sale of the Company, as defined in the Notes, prior to the conversion or repayment in full of these Notes, cash
payments will be made equal to the aggregate amount of principal and accrued, but unpaid, interest then outstanding under these
Notes. In addition, an amount equal to 25% of the original principal amount of the Notes will be paid (the &ldquo;Sales Premium)&rdquo;.</FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the issuance of the Notes, we issued five-year warrants to purchase Common Stock to the holders of the Notes.
The number of shares of stock to be acquired under the warrants, after this additional issuance is determined by a formula which
amounts to 100% of the principal amount invested divided by the lowest price paid per share for the equity securities by the investors
in the Next Equity Financing.</FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/105% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Convertible Note Offering raised $2,372,000 through December 31, 2016. Subsequent to December 31, 2016, we raised an additional
$1,770,000.</FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"></P>

<!-- Field: Page; Sequence: 2; Value: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/106% Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Results
of Operations</B></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have incurred net losses and negative cash flows from operations since inception and anticipate this to continue as we focus our
efforts on expanding our sales and marketing efforts to increase our customer base and expand into new markets, invest in development
of our MyoPro products, the funding of clinical research studies to support our reimbursement efforts, and increased costs required
to comply with the regulatory requirements of the SEC, as a result of our proposed initial public offering.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Comparison
of the Years Ended December 31, 2016 and 2015</B></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Revenues</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Total revenue for the year ended December 31, 2016 increased
by $414,000, or 60%, as compared to the year ended December 31, 2015. Product revenues increased by $525,000, or 94%. The increase
in product revenues was primarily due to sales of the MyoPro Motion G which was introduced in 2015. This product has a higher
average selling price due to its additional functionality. During 2016, we recognized $141,000 of revenue related to minimum purchase
requirements as a result of the expiration of the Ossur contract. These product revenue increases were partially offset by a decrease
in grant revenue of $111,000 reflecting the completion in March 2016 of a National Science Foundation (&ldquo;NSF&rdquo;) two-year
grant totaling $200,000 awarded to us. </P>





<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Gross
margin</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Gross margin increased to 74% for the year ended December
31, 2016, as compared to 65% for the year ended December 31, 2015. The increase was due to product mix, the recognition of Ossur
minimum purchase requirements with no associated costs, and the decrease in low margin grant revenue, offset by additional warranty
expense. We expect our product gross margins to vary depending on the mix of our product sales. </P>





<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Research
and development&nbsp;</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research
and development expenses increased by $252,000, or 29%, during the year ended December 31, 2016, as compared to the year ended
December 31, 2015. The increase was primarily due to increased personnel costs of $71,000 related to additional staffing hired,
increased consulting costs of $58,000 and increased costs of $126,000 primarily due to engineering, manufacturing builds, tooling,
set-up and prototype costs for the development of our next version of our MyoPro products.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Selling,
general and administrative</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Selling, general and administrative costs decreased $134,000,
or 4%, during the year ended December 31, 2016, as compared to the year ended December 31, 2015. The decrease was primarily due
to decreased personnel costs of $472,000 as a result of implementing cost reductions due to funding constraints. These cost reductions
included staff reductions primarily in sales and marketing, and reduced compensation for certain executives. These decreases were
partially offset by increases in consulting and other professional fees of approximately $300,000 related to increased accounting,
audit and legal fees as we prepare for our proposed initial public offering and an increase of $28,000 related to clinical trials
for our products. </P>





<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Interest
expense</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
expense increased $146,000&nbsp;during the year ended December 31, 2016, as compared to the year ended December 31, 2015. The
increase is due to interest expense incurred on our $3,402,000 promissory notes that we entered into at various times in late
2015 and during the year ended December 31, 2016.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;&nbsp;</B></FONT> </P>

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

<!-- Field: Page; Sequence: 3; Value: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; background-color: white; color: #222222"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Liquidity
and Capital Resources</B></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; background-color: white; color: #222222"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; background-color: white; color: #222222"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Liquidity</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
measure our liquidity in a number of ways, including the following</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></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="text-align: center"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> December&nbsp;31, <BR>
    2016 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> December&nbsp;31, <BR>
    2015 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; padding-bottom: 1.5pt"> Cash </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> $ </TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"> 797,000 </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> $ </TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"> 1,043,000 </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 4pt"> Working (Deficiency) Capital </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> (661,000 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 425,000 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 4; Value: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Availability
of Additional Funds</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT> &nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"> Based upon our working capital deficiency and stockholders&rsquo; deficiency
as of December 31, 2016, of $661,000 and $17,530,000, respectively, as of December 31, 2016 we require additional equity and/or
debt financing to continue our operations. We believe that these conditions raise substantial doubt about our ability to continue
as a going concern within one year of the date that the accompanying financial statements are issued. </P>



<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
upon our working capital deficiency, outstanding debt (including $1,770,000 raised after December 31, 2016 through the issuance
of convertible promissory notes; see Recent Developments &ndash; 2016 Convertible Promissory Notes) and forecasted continued operating
losses, we expect that the cash we currently have available will fund our operations through July 2017. Thereafter, we will need
to raise further capital, through the sale of additional equity or debt securities (see Recent Developments &ndash; Proposed Initial
Public Offering), to support our future operations and to repay our debt (unless, if requested, the debt holders agree to convert
their notes into equity or extend the maturity dates of their notes). Our operating needs include costs to operate our business,
including amounts required to fund working capital and capital expenditures. Our future capital requirements and the adequacy
of our available funds will depend on many factors, including our ability to successfully commercialize and market our products
and services, competing technological and market developments, and the need to enter into collaborations with other companies
or acquire other companies or technologies to enhance or complement our product and service offerings</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may be unable to raise sufficient additional capital when we need it or raise capital on favorable terms. Debt financing may require
us to pledge certain assets and enter into covenants that could restrict certain business activities or our ability to incur further
indebtedness, and may contain other terms that are not favorable to our stockholders or us. If we are unable to obtain adequate
funds on reasonable terms, we may be required to significantly curtail or discontinue operations or obtain funds by entering into
financing agreements on unattractive terms.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Sources
and Uses of Cash for the Years Ended December 31, 2016 and December 31, 2015</I></B></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;<I>&nbsp;</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Net
Cash used in Operating Activities</B></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> We experienced negative cash flows from operating activities
of $3,203,000 for the year ended December 31, 2016, as compared to $3,335,000 for the year ended December 31, 2015. The net cash
used in operating activities for the year ended December 31, 2016 was primarily used to fund a net loss of $3,617,000, adjusted
for non-cash expenses in the aggregate amount of $107,000, and by $307,000 of cash provided by changes in the levels of operating
assets and liabilities, primarily related to increases in accounts payable and accrued expenses and the usage of our prior year
inventory for sales made during the year ended December 31, 2016. The net cash used in operating activities for the twelve months
ended December 31, 2015 was primarily due to cash used to fund a net loss of $3,729,000, adjusted for non-cash expenses in the
aggregate amount of $67,000, and by $328,000 of cash provided by the changes in the levels of operating assets and liabilities,
primarily related to increases in accounts payable and accrued expenses and decreases in our accounts receivable. </P>





<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Net
Cash Used in Investing Activities</B></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2016 our cash used in investing activities was $2,000, as compared to $28,000 during the during the
year ended December 31, 2015. Cash used for investing activities was for the acquisition of equipment.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Net
Cash Provided by Financing Activities</B></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Net cash provided by financing activities during
the year ended December 31, 2016 was $2,959,000, as compared to $1,980,000 during the year ended December 31, 2015. During
the year ended December 31, 2016, $2,977,000 of cash was from debt financings, partially offset by $21,000 paid for issuance
costs. During the year ended December 31, 2015, $1,625,000 was generated from an offering of our Series B-1 Preferred Stock,
and $425,000 was generated from convertible debt, which was partially offset by a $70,000 repayment of bank debt. </P>





<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

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

<!-- Field: Page; Sequence: 5; Value: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Off-Balance
Sheet Arrangements</B></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">None.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Critical
Accounting Policies</B></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Use
of Estimates</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
preparation of financial statements in conformity with accounting principles generally accepted in the United States of America
require management to make estimates and assumptions that affect certain reported amounts and disclosures. These estimates and
assumptions are reviewed on an on-going basis and updated as appropriate. Actual results could differ from those estimates. Our
significant estimates include the allowance for doubtful accounts, the valuation of our deferred tax asset, the fair value of
our derivative liabilities and reserves for slow moving inventory.</FONT> <BR CLEAR="ALL"></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Accounts
Receivable</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
carry accounts receivable at invoiced amounts less an allowance for doubtful accounts. We evaluate our accounts receivable on
a continuous basis, and if necessary, establish an allowance for doubtful accounts based on a number of factors, including current
credit conditions and customer payment history. We do not require collateral or accrue interest on accounts receivable and credit
terms are generally 30 days. Accounts receivable includes unbilled receivables representing amounts earned under federally-funded
grants but not yet billed by us.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Inventories</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories
are recorded at the lower of cost or market. Cost is determined using a specific identification method. We reduce the carrying
value of inventory for those items that are potentially excess, obsolete or slow-moving based on changes in customer demand, technology
developments or other economic factors.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> We periodically analyze anticipated product sales based
on historical results, current backlog and marketing plans. Based on these analyses, we anticipate the amounts of product that
will not be sold during the next twelve months. Inventories that are not anticipated to be sold in the next twelve months, if
any, have been classified as non-current in the balance sheet. </P>





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

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

<!-- Field: Page; Sequence: 6; Value: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Deferred
Offering Costs</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
offering costs are comprised of direct incremental legal, accounting and financial advisor fees related relating to capital raising
efforts. Deferred offering costs are offset against proceeds of an offering. In the event a capital raising effort is terminated,
deferred offering costs will be expensed.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Demonstration
and Test Units</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Demonstration units represent units provided to customers
by us for marketing and patient evaluation purposes. These units are manufactured by us and are recorded at cost in the statements
of operations as part of selling, general, and administrative expense. </P>





<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Test
units represent units provided to our research and development staff to use in their development process and to end users who
are given free units to act as testers so that the research and development staff can evaluate and understand their use by patients.
A primary objective of these units is to determine when and under what conditions they fail, at which time they are analyzed for
cause of failure and then scrapped. These units are recorded at cost in the statements of operations as part of research and development
expense.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Preferred
Stock </I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
apply the accounting standards for distinguishing liabilities from equity under U.S. GAAP when determining the classification
and measurement of our convertible Preferred Stock. Preferred Stock subject to mandatory redemption are classified as liability
instruments and are measured at fair value. Conditionally redeemable Preferred Stock (including Preferred Stock that feature redemption
rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely
within our control) are classified as temporary equity. At all other times, Preferred Stock is classified as permanent equity.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Convertible Preferred Stock feature certain redemption rights that are considered to be outside our control. Accordingly, the
Series A-1 Preferred Stock and Series B-1 Preferred Stock is presented as temporary equity in our balance sheets.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the issuance date, the carrying amount of the Convertible Preferred Stock was less than the redemption value. If we were to
determine that redemption was probable, the carrying value would be increased by periodic accretions so that the carrying value
would equal the redemption amount at the earliest redemption date. Such accretion would be recorded as a preferred stock dividend.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Research
and Development Costs</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
expense research and development costs as incurred. Research and development costs primarily consist of salaries and benefits,
facility and overhead costs, and outsourced research activities.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Revenue
Recognition</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
derive revenue primarily from the sale of our products to orthotics and prosthetics practices, as well as Veteran Administration
and other hospitals. We recognize revenue upon shipment, provided that persuasive evidence of an arrangement exists, there are
no uncertainties regarding customer acceptance, the sales price is fixed or determinable, and collectability is deemed probable.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
receive federally-funded grants that require us to perform research activities as specified in each respective grant. We are paid
based on the fees stipulated in the respective grants which approximate the projected costs to be incurred by us to perform such
activities. We recognize the revenue on a completion of performance basis where no ongoing obligation exists, or ratably over
the term of the grant if no specific performance is required. Direct costs related to these grants are reported as a component
of research and development costs in the statements of operations except for reimbursable costs which are reported as a component
of cost of revenue in the statements of operations. Amounts received in advance are deferred.</FONT> </P>

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

<!-- Field: Page; Sequence: 7; Value: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Income
Taxes</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
account for income taxes under Accounting Standards Codification 740 Income Taxes (&ldquo;ASC 740&rdquo;). Under ASC 740, deferred
tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and
liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences
are expected to impact taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the
amounts expected to be realized.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC
740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise&rsquo;s financial statements and
prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position
taken or expected to be taken in a tax return.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax
benefits claimed or expected to be claimed on a tax return are recorded in our financial statements. A tax benefit from an uncertain
tax position is only recognized if it is more likely than not that the tax position will be sustained on examination by the taxing
authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such
a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate
resolution. Uncertain tax positions have had no impact on our financial condition, results of operations or cash flows.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Stock-Based
Compensation</I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
account for options granted to employees by measuring the cost of services received in exchange for the award of equity instruments
based upon the fair value of the award on the date of grant. The fair value of that award is then ratably recognized as expense
over the period during which the recipient is required to provide services in exchange for that award.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Options
and warrants granted to consultants and other non-employees are recorded at fair value as of the grant date and subsequently adjusted
to fair value at the end of each reporting period until such options and warrants vest, and the fair value of such instruments,
as adjusted, is expensed over the related vesting period.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Net
Loss per Share </I></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common
shares outstanding during the period. Diluted net loss per common share is computed by dividing net loss attributable to common
stockholders by the weighted average number of common shares outstanding, plus potentially dilutive common shares. Convertible
debt, Preferred Stock, restricted stock units, stock options and warrants are excluded from the diluted net loss per share calculation
when their impact is antidilutive. We reported a net loss for the years ended December 31, 2016 and 2015, and as a result, all
potentially dilutive common shares are considered antidilutive for these periods.</FONT> </P>

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



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

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

<!-- Field: Page; Sequence: 8; Value: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Recent
Accounting Pronouncements</B></FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
May 2014, the Financial Accounting Standards Board (&ldquo;FASB&rdquo;) issued Accounting Standards Update No. 2014-09, &ldquo;Revenue
from Contracts with Customers,&rdquo; (&ldquo;ASU 2014-09&rdquo;). ASU 2014-09 supersedes the revenue recognition requirements
in ASC 605 - Revenue Recognition and most industry-specific guidance throughout the ASC. The standard requires that an entity
recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration
to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 should be applied retrospectively
to each prior reporting period presented or retrospectively with the cumulative effect of initially applying ASU 2014-09 recognized
at the date of initial application. To allow entities additional time to implement systems, gather data and resolve implementation
questions, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,
in August 2015, to defer the effective date of ASU No. 2014-09 for one year, which is fiscal years beginning after December 15,
2017. We are currently evaluating the impact of the adoption of ASU 2014-09 on our financial statements or disclosures. In addition,
the FASB issued ASU 2016-08 in March 2016, to help provide interpretive clarifications on the new guidance in ASC Topic 606. We
are currently evaluating the accounting, transition, and disclosure requirements of the standard to determine the impact, if any,
on our financial statements.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
August 2014, the FASB issued ASU No. 2014-15, &ldquo;Presentation of Financial Statements &ndash; Going Concern (Subtopic 205-40):
Disclosure of Uncertainties about an Entity&rsquo;s Ability to Continue as a Going Concern&rdquo; (&ldquo;ASU 2014-15&rdquo;).
ASU 2014-15 explicitly requires management to evaluate, at each annual or interim reporting period, whether there are conditions
or events that exist which raise substantial doubt about an entity&rsquo;s ability to continue as a going concern and to provide
related disclosures. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and annual and interim periods
thereafter, with early adoption permitted. The adoption of ASU No. 2014-15 impacted disclosure in our financial
statements, but did not have any impact on the our financial position or results of operations.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
April 2015, the FASB issued ASU No. 2015-03, &quot;Simplifying the Presentation of Debt Issuance Costs, (&ldquo;ASU 2015-03&rdquo;).
This standard amends existing guidance to require the presentation of debt issuance costs in the balance sheet as a deduction
from the carrying amount of the related debt liability instead of a deferred charge. It is effective for annual reporting periods
beginning after December 15, 2015, but early adoption is permitted. The adoption of ASU 2015-03 did not have a material impact
on our financial statements.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
July 2015, the FASB issued ASU No. 2015-11, &ldquo;Inventory (Topic 330): Simplifying the Measurement of Inventory,&rdquo; (&ldquo;ASU
2015-11&rdquo;). ASU 2015-11 amends the existing guidance to require that inventory should be measured at the lower of cost and
net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably
predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using
last-in, first-out or the retail inventory method. ASU 2015-11 is effective for fiscal years beginning after December 15, 2016,
including interim periods within those fiscal years. We are currently evaluating the effects of ASU 2015&ndash;11 on our financial
statements.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
November 2015, the FASB issued ASU No. 2015-17, &ldquo;Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes&rdquo;
(&ldquo;ASU 2015-17&rdquo;). The FASB issued ASU 2015-17 as part of its ongoing Simplification Initiative, with the objective
of reducing complexity in accounting standards. The amendments in ASU 2015-17 require entities that present a classified balance
sheet to classify all deferred tax liabilities and assets as a noncurrent amount. This guidance does not change the offsetting
requirements for deferred tax liabilities and assets, which results in the presentation of one amount on the balance sheet. Additionally,
the amendments in ASU 2015-17 align the deferred income tax presentation with the requirements in International Accounting Standards
(IAS) 1, Presentation of Financial Statements. The amendments in ASU 2015-17 are effective for financial statements issued for
annual periods beginning after December 15, 2016, and interim periods within those annual periods. We do not anticipate that the
adoption of ASU 2015-17 will have a material impact on our financial statements.</FONT> </P>

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

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

<!-- Field: Page; Sequence: 9; Value: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
February 2016, the FASB issued ASU No. 2016-02, &ldquo;Leases (Topic 842)&rdquo; (&ldquo;ASU 2016-02&rdquo;). ASU 2016-02 requires
an entity to recognize assets and liabilities arising from a lease for both financing and operating leases. ASU 2016-02 will also
require new qualitative and quantitative disclosures to help investors and other financial statement users better understand the
amount, timing, and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years beginning after December
15, 2018, with early adoption permitted. We are currently evaluating ASU 2016-02 and its impact on our financial statements.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
March 2016, the FASB issued ASU No. 2016-08, &ldquo;Revenue from Contracts with Customers - Principal versus Agent Considerations.&rdquo;
This update provides clarifying guidance regarding the application of ASU No. 2014-09 - Revenue from Contracts with Customers
when another party, along with the reporting entity, is involved in providing a good or a service to a customer. In these circumstances,
an entity is required to determine whether the nature of its promise is to provide that good or service to the customer (that
is, the entity is a principal) or to arrange for the good or service to be provided to the customer by the other party (that is,
the entity is an agent). The amendments in the Update clarify the implementation guidance on principal versus agent considerations.
The update is effective, along with ASU 2014-09, for annual and interim periods beginning after December 15, 2017. The adoption
of ASU 2016-08 is not expected to have a material impact on our financial statement or disclosures.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
March 2016, the FASB issued ASU No. 2016-09, &ldquo;Compensation &ndash; Stock Compensation (Topic 718)&rdquo; (&ldquo;ASU 2016-09&rdquo;).
ASU 2016-09 requires an entity to simplify several aspects of the accounting for share-based payment transactions, including the
income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash
flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, with early adoption permitted. We are currently
evaluating ASU 2016-09 and its impact on our condensed financial statements or disclosures.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 9, 2016, the FASB issued ASU No. 2016-12, &ldquo;Revenue from Contracts with Customers (Topic 606)&rdquo; (&ldquo;ASU 2016-12&rdquo;).
ASU 2016-12 provides clarifying guidance in a few narrow areas and adds some practical expedients to the guidance. The effective
date and transition requirements for this ASU are the same as the effective date and transition requirements for ASU 2014-09.
We are evaluating the effect of ASU 2014-09, if any, on our financial statements.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash
Payments,&rdquo; which addresses the diversity in practice in how certain cash receipts and cash payments are presented and classified
in the statement of cash flows with respect to eight specific cash flow issues. The new standard is effective for fiscal years,
and interim periods within those fiscal years, beginning after December 15, 2017. The amendments should be applied using a retrospective
transition method to each period presented, if practical. Early adoption is permitted, including the interim period, and any adjustments
should be reflected as of the beginning of the fiscal period. We are currently evaluating ASU 2016-15 and its impact on our financial
statements or disclosures.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
November 2016, the FASB issued ASU 2016-18, &ldquo;Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB
Emerging Issues Task Force)&rdquo;, which clarifies how entities should present restricted cash and restricted cash equivalents
in the statement of cash flows, and as a result, entities will no longer present transfers between cash and cash equivalents and
restricted cash and restricted cash equivalents in the statement of cash flows. An entity with a material balance of restricted
cash and restricted cash equivalents must disclose information about the nature of the restrictions. The new standard is effective
for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted
and the new guidance must be applied retroactively to all periods presented. We are currently evaluating ASU 2016-18 and its impact
on our financial statements or disclosures.</FONT> </P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

<!-- Field: Page; Sequence: 10; Value: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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


<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><A NAME="a_010"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>OUR
BUSINESS</B></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Overview</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our goal
is to address the need to restore function to individuals who have suffered partial paralysis and can no longer support or move
their arm or hand despite the best efforts of surgeons and rehabilitation therapists.</FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our solution, the MyoPro custom fabricated limb orthosis, is like
an exoskeleton for the upper body. It was originally pioneered in the 1960s, recently refined in the labs of the Massachusetts
Institute of Technology (&ldquo;MIT&rdquo;) and made commercially feasible through our efforts. Partial paralysis is severe muscle
weakness or loss of voluntary movement in one or more parts of the body. The MyoPro is registered with the FDA as a Class II device
(powered limb orthosis with biofeedback). We believe it is the only current device able to help neuromuscular-impaired people
restore function in weak arms and hands using their own muscle signals. The device consists of a portable arm brace made of a
lightweight aerospace metal, and includes advanced signal processing software, non-invasive sensors, and a lightweight battery
unit. The product is worn to support the dysfunctional joint and as a functional aid for reaching and grasping, but has also been
proven to have therapeutic benefits for some users to increase motor control.</P>





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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> The MyoPro&rsquo;s control technology utilizes an advanced
non-invasive human-machine interface (&ldquo;HMI&rdquo;) based on non-invasive, patented electromyography (&ldquo;EMG&rdquo;)
control technology that continuously monitors and senses, but does not stimulate, the affected muscles. The patient self-initiates
movement through his or her weakened muscle signals that indicate the intention to move. In addition to supporting the weakened
limb, the MyoPro functions as a neuro-muscular prosthetic by restoring function to the impaired limb similar to a myoelectric
prosthetic for an amputee. It is prescribed by physicians and provided by medical professionals certified to fit orthotics and
prosthetics as a custom fabricated myoelectric elbow-wrist-hand orthosis (&ldquo;EWHO&rdquo;). </P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In addition to applications for stroke patients, Myomo&rsquo;s
technology may be used to increase upper extremity movement affected by diagnoses such as peripheral nerve injury, spinal cord
injury, other neurological disorders, cerebral palsy, muscular dystrophy and traumatic brain injury.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company&rsquo;s
strategy is to establish itself as the market leader in myoelectric limb orthotics, and to build a set of products, software applications,
and value-added services based upon our patented technology platform. While the Company currently focuses on upper extremity orthotics,
we anticipate that our future products may include devices for the shoulder, leg, knee, and ankle, sized for both adults and children,
along with non-medical applications for industrial and military markets.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Myomo
is the exclusive licensee of US patents for the myoelectric limb orthosis device based on technology originally developed at MIT
in collaboration with medical experts affiliated with Harvard Medical School. Myomo&rsquo;s devices are currently referred for
patients at leading rehabilitation facilities, including, among others, the Mayo Clinic, Cleveland Clinic, Walter Reed National
Military Medical Center, and VA hospitals across the country.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company
is headquartered in Cambridge, Massachusetts.</FONT></P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Market Opportunity: Common Causes of Arm Paralysis</B>&nbsp;</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Vehicular
and Workplace Accidents</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">One of
the most straightforward applications for the MyoPro is to restore arm function to individuals who have suffered peripheral nerve
injuries. A common outcome of vehicular and workplace accidents is damage to the nerves in the shoulder known as the brachial
plexus. Many individuals recover from their related trauma with the exception of the ability to control their elbow and in some
cases their hand. Nerve transfer surgery is often a solution; however, these procedures are not always restorative. In some cases,
patients undergo amputation and receive myoelectric prosthetics rather than deal with a paralyzed arm. One of the leading medical
facilities in the U.S. for treating brachial plexus injuries is the Mayo Clinic. Myomo has been working with Mayo surgeons who
have incorporated the MyoPro into their surgical post-operative treatment protocol.</FONT></P>

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

<!-- Field: Page; Sequence: 46; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Spinal
Cord Injuries (&ldquo;SCI&rdquo;)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">According
to the Christopher and Dana Reeve Foundation, spinal cord injuries are the cause of 23% of all paralysis. The level of paralysis
depends on where the injury occurs. Currently, medically qualified individuals include those with sufficient remaining EMG signal
strength to initiate movement of the devices, as determined by the clinician using a MyoPro evaluation unit.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Stroke</I></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">According to the Centers for Disease Control (&ldquo;CDC&rdquo;),
stroke is the leading cause of disability in the U.S. affecting 800,000 people per year. Myomo has working relationships with
rehabilitation facilities in the U.S., including the Mayo Clinic, Cleveland Clinic, Spaulding Rehabilitation Hospital, Loma Linda
University Medical Center, Kennedy Krieger Institute, and National Rehabilitation Hospital, and has developed an appropriate set
of inclusion criteria to determine which persons that are affected by stroke would be medically qualified for the intervention.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">A growing
diagnosis in the U.S. is the occurrence of stroke in those under the age of 65. Nationally, 30% of stroke survivors are under
65 with some states running as high as 50%. The challenges for these younger survivors include the need to return to work, child
rearing, and community activities that may not exist for older individuals. The Company believes this is an important market segment
because of their greater need to return to normal activity, and because they are more likely to have their devices reimbursed
by insurance providers.</FONT></P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cerebral
Palsy (&ldquo;CP&rdquo;)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Based
on data provided by the US Centers for Disease Control, the prevalence of CP in the United States is approximately 74,000 for
children ages 6-12 years old. CP is caused by brain injury or brain malformation that occurs before, during, or immediately after
birth while the infant&rsquo;s brain is under development.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Myomo
has conducted initial product testing at the Easter Seals Clinic in the Chicago area and the Kennedy Krieger Institute in Baltimore
to gauge efficacy of its myoelectric brace on children with CP. Based on this work, we have developed a prototype custom fabricated
elbow brace for children age 6 &ndash; 12 and will look to use proceeds from financing to commercialize this product in the near
future.</FONT></P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Progressive
Conditions</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The MyoPro has been prescribed in a few cases for individuals with
progressive conditions such as multiple sclerosis and ALS. For individuals with these conditions, the MyoPro is used for strength
conservation and to extend the time they can maintain independence. As users continue to progress with their condition, settings
can be adjusted to provide increasing amounts of assistance.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Arm
Paralysis Solutions &amp; Treatments</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The standard
of care for treating paralysis varies by diagnosis. In the case of neurological injuries such as stroke, occupational/physical
therapy is the standard of care. Each year, stroke and other survivors undergo months of rehabilitation. Unfortunately, many result
in long term hemiparesis (weakness on one side of the body). Interventions such as electrical stimulation, static braces, and
continued therapy are available, and yet the prevalence of chronic upper limb paralysis is in the millions.</FONT></P>

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




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

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

<!-- Field: Page; Sequence: 47; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Solutions</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
commercial products for powered prosthetics have been available since the 1970s, the Company believes that powered orthotics have
been held back by issues related to weight and comfort. While today it is often referred to by the general public as an exoskeleton,
the MyoPro is known in the medical community as a custom fabricated limb orthosis. It is created individually for each patient
from a cast, just like a prosthetic except for someone who still has a limb but that is non-responsive.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Orthotic
and prosthetic devices are provided by medical professionals trained and certified to custom fabricate and fit these devices.
According to the American Orthotics and Prosthetics Association, in 2012, there were approximately 3,000 O&amp;P facilities located
both separate from and within hospitals in the U.S. Additionally, the Veterans&rsquo; Administration (&ldquo;VA&rdquo;) has been
a pioneer in both orthotics and prosthetics. In fact, the design of the new MyoPro Motion G powered grasp product is rooted in
research conducted at the Boston-area VA in the 1990s. This research demonstrated that it is technically feasible to design a
myoelectric hand orthosis; however, the product was not commercially practical until Myomo was able to incorporate recent technological
developments such as improved computer processors and software, lightweight materials, and smaller batteries to create an acceptable
orthosis for users.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The MyoPro
can enable individuals to self-initiate and control movements of a partially paralyzed or weakened limb using their own muscle
signals. When the user tries to move, sensors detect the weak muscle signal, which activates the motor to move the limb in the
desired direction. The user is in control of their own limb; the brace amplifies their weak muscle signal to restore function
to the affected joint. With the orthosis, a paralyzed individual, such as one who has suffered a brachial plexus injury, stroke
or other neuromuscular disorder can perform activities of daily living including feeding, reaching and lifting.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Patented
EMG (electromyography) control technology continuously monitors and senses, but does not stimulate, the affected muscles. The
user self-initiates and achieves natural movement patterns by their own muscular signals that indicate intention to move. The
system senses an EMG muscle signal and then processes data to a motor on the device that enables desired motion. This processing
occurs so quickly that it is not apparent to the patient. Importantly, the EMG-driven device requires that users are actively
engaged throughout the movement; if they stop, the device stops.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Clinicians
who evaluate and fit a patient for a MyoPro require education, training, and experience to complete such tasks. In order to qualify
for a MyoPro, candidates must meet a comprehensive set of requirements determined by a certified clinician during an evaluation.
These criteria include long term partial paralysis, detection of a muscle signal sufficient to control the device, passing a cognitive
test, meeting certain parameters for height and weight, lack of other conditions that might limit the effectiveness or safety
of the device such as use of certain pharmaceuticals, high levels of pain, or limits to range of motion, as well as falling within
measurement limitations for the arm and hand to be able to fit into the device. Finally, candidates must have meaningful and achievable
functional goals that can realistically be accomplished with the device that cannot otherwise be achieved with a less costly intervention
such as additional rehabilitation therapy.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each MyoPro
brace is custom fitted to the patient for optimum mobility and performance. The MyoPro is available only at an O&amp;P practice
certified to provide and fit the MyoPro. During the evaluation process, a certified orthotist or prosthetist will qualify an individual
for a MyoPro through a physical assessment. Should the individual qualify, the provider will determine whether the device is covered
by the individual&rsquo;s health insurance. If coverage is in effect and the individual is a suitable candidate for MyoPro, the
O&amp;P center will initiate the fabrication and fitting process:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">First
                                         a plaster molding of the patient&rsquo;s arm will be taken. This mold is sent off to
                                         a central fabrication facility for custom brace construction.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fabrication
                                         typically takes 2-4 weeks. Once the brace is received by the O&amp;P practice, the patient
                                         will be brought back for a fitting. During this fitting, the device will be calibrated
                                         to the user&rsquo;s individual muscle signal profile and minor adjustments to the brace
                                         can be made to optimize comfort.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         user will be provided with initial training and a set of take home tasks to practice
                                         with the brace donned. Research studies have shown that orthotic and prosthetic users
                                         do better when they receive additional training on how to best use their accommodation
                                         device. Follow up training may take place at a MyoPro certified therapy or rehabilitation
                                         center or at the O&amp;P practice.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"></P>

<!-- Field: Page; Sequence: 48; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In a cost
conscious healthcare environment, there are two compelling uses for the MyoPro. The first is to enable users to return to work,
whether that be young mothers raising children, engineers and technicians working at their vocation, or electricians and mechanics
using both arms to accomplish their work.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The second
key application is keeping individuals who have difficulty performing ADLs to live safely at home. In the US, 5% of community
residents require daily help with ADLs and consume 23% of all healthcare spending. Myomo&rsquo;s thesis is that restoring upper
limb function to these individuals will result in fewer emergency room visits related to falls, increase their level of activity,
and avoid the need for institutionalization. With 70 million Baby Boomers headed into their retirement years, it is vital to keep
beneficiaries in the lowest cost of care setting &ndash; the home.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Health
Insurance Reimbursement</FONT></P>

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

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The standard process for a new medical device to gain reimbursement
begins with the FDA. The device must be classified and, depending on the level of risk, registered as a Class I or Class II low
risk device not requiring pre-market notification, cleared via 510(K) for a Class II medium risk device, or approved through a
pre-market approval (&ldquo;PMA&rdquo;) process for Class III high risk devices. Having completed registration or clearance with
the FDA, as necessary, the device is registered and indications for use as well as contra-indications are defined. Once FDA regulatory
work is completed, it is necessary to identify the applicable reimbursement code and benefit category.</P>





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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Companies marketing medical devices that fit into existing
codes are able to submit an application and sample to the Centers for Medicare and Medicaid Services (&ldquo;CMS&rdquo;) Working
Group for device reimbursement and gain confirmation that it can be billed using that code or advised that another code is to
be used. Devices that do not fit into an existing device code must establish sufficient operating volume, as determined by the
CMS Working Group, to justify a HCPCS code known as a Healthcare Common Procedure Coding System (&ldquo;HCPCS&rdquo;) code and
submit an application showing that it meets the evidence requirements for &ldquo;medical necessity&rdquo; based on claims &amp;
reimbursement policy (Chapter 13 of the Medicare Program Integrity Manual for Reasonable and Necessary). During the interim period
between regulatory registration and a new code, there is a process enabling providers to bill for the medical device using a general
purpose or Not Otherwise Specified (&ldquo;NOS&rdquo;) code that results in the case by case review of claims by payers. When
a new code is assigned, it is accompanied by a reimbursement policy associated with the device as well as a schedule for Medicare
reimbursement by state.</P>

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





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> In terms of reimbursement, there is no unique code for
a custom fabricated myoelectric limb orthosis. Therefore, the Company is developing the material required for a new code application.
In the interim, providers are billing for the device using an NOS code of L3999 Upper Limb Orthosis, Not Otherwise Specified.
This approval process has taken from several weeks to over twelve months, which may include appeals in connection with initial
denials, to obtain reimbursement. To date, hundreds of devices have been reimbursed by national insurance companies, regional
payers, some state Medical plans, and worker&rsquo;s compensation plans via this process. </P>











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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Currently, the Company sets the price to distributors
for its products. A distributor will only be willing to order a product from us if the level of reimbursement from third party
payers is sufficient to provide a reasonable profit to the distributor after paying our price. The process of obtaining reimbursement
is handled entirely by the distributor with clinical support from the Company in some cases. Historically, the reimbursement level
has generally been sufficient to lead to sales providing reasonable gross margins to the Company. However, there can be no assurance
that future reimbursement levels will continue to provide acceptable gross margins to the Company. </P>





<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal">In
its relationship with the VA, the Company sells its products directly as well as indirectly through its distributors. In direct
sales, the Company provides a quote for its products, and if accepted, the VA issues a purchase order directly to the Company.
Indirect sales generally are handled in the same manner as other sales of our products to distributors. </FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal">&nbsp;</FONT></P>

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

<!-- Field: Page; Sequence: 49; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal">The
Company intends, at some point in the future, to apply for a unique HCPCS code applicable to our product line. We believe the
receipt of a HCPCS code could expand the pool of potential users of our products because Medicare eligible patients would have
greater access to our products, especially those patients who are not able to afford our products without Medicare reimbursement.
To the Company&rsquo;s knowledge, less than ten units have been self-paid or funded by non-profit foundations. The process of
obtaining a HCPCS code is long and often requires clinical experience to validate the need for a new code specific to the MyoPro.
We cannot make any assurance that a HCPCS will be issued or that the amount of reimbursement offered will be sufficient to provide
a reasonable profit to the Company or to our distributors.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Research
and Development</FONT></P>

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

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Myomo is committed to investing in a robust development
program and building a ladder of clinical research studies to enhance our products, increase the body of evidence to support prescribing
and reimbursing our devices, and to grow our range of product offerings. Our R&amp;D team is comprised of eight engineers with
a mix of BS, MS and PhD in electrical engineering, mechanical engineering, and computer science. The R&amp;D team seeks to combine
innovative research conducted over the last 50 years with cutting edge innovations in robotics, machine learning, and material
science to continue to enhance our products and product offerings. Our regulatory, clinical, and customer service personnel work
closely with our suppliers and providers to ensure that compliance with quality standards and good manufacturing processes result
in the highest quality product with minimal customer issues. </P>







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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We plan,
depending on available resources, to increase our investment in research, development, and customer service in the future in order
to continually improve our system architecture and develop new product innovations that increase the value and breadth of our
product offerings. Additional product enhancements in the future will likely be focused on incremental offerings for individual
body parts such as the shoulder, wrist, leg and ankle, along with more compact and lighter weight components more appropriate
for the needs of children, along with non-medical applications for industrial and military markets.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> We incurred research and development expenses of approximately
$1,121,000 and $869,000 during fiscal years 2016 and 2015, respectively. </P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Clinical
Studies</FONT></P>

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





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Evidence of efficacy involving myoelectric orthotics
dates back to 1967. Myomo has partnered with leading researchers to study the impact of its technology to restore function to
a paralyzed joint as well as the real world benefit that comes from being able to independently perform activities of daily living
in the home, vocational tasks at work, and community activities such as shopping. Data collected from research studies leads the
Company to believe that our products have the potential to improve health while requiring fewer medications and surgical interventions.
We funded a study last year at the Ohio State University, which was published in January 2017, and another study at the Rehabilitation
Institute of Chicago, which we expect to be published in the next several months. The studies focused on the ability of MyoPro
users to initiate movement of their affected limbs and perform Activities of Daily Living such as picking up objects so that they
may feed themselves and independently manage other household tasks. We also intend to use proceeds from this Offering, depending
on the amount raised, to fund a pivotal, multi-site randomized control study that is expected to be completed in the next few
years. </P>









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

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

<!-- Field: Page; Sequence: 50; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sales
and Marketing</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Myomo&rsquo;s
strategic goal is to become the standard of care for individuals with paralysis who cannot be successfully treated with less costly
interventions such as rehabilitation therapy. The Company&rsquo;s strategy is to establish itself as a market leader in myoelectric-controlled
orthotics by building a set of products, software applications, and value-added services based upon its patented technology platform.
As mentioned above, the Company recently introduced the first powered grasp orthosis for the hand, and anticipates that its future
products may include devices for the shoulder, leg, knee, and ankle, sized for both adults and children, along with non-medical
applications for industrial and military markets. After developing a larger base of operations in the US, Myomo plans to expand
into international markets via local and global partnerships and distribution arrangements to meet the large global need that
we believe exists.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Historical Unit Shipments</U></B></P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="chart.jpg" ALT=""></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif">Myomo&rsquo;s
current go-to-market model includes a direct sales force calling on hospitals and O&amp;P practices which provide the device to
their patients as well as indirect sales through distributors. To date, we have had insignificant sales overseas. The MyoPro product
line has been approved by the VA system for impaired veterans, and over twenty VA facilities have already ordered devices for
their patients. In 2015-16, the Company had an exclusive distribution agreement with &Ouml;ssur, a major provider of orthotics
and prosthetics devices, to market the MyoPro product through its US sales force to VA hospitals. In January 2017, we replaced
this reseller relationship with an exclusive agreement with Ottobock, a global leader in this field of O&amp;P devices, to market
the MyoPro product line in the US, followed by Canada and certain EU countries upon receiving regulatory approval. Following the
Offering, depending on amounts raised, the Company plans to expand its direct sales force and other distribution agreements to
increase the penetration of these markets.&nbsp;</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Of the
3,000 O&amp;P clinical offices in the US, Myomo expects to recruit and train professionals at select locations with proven experience
working with sophisticated prosthetic products to provide MyoPro devices for their patients. To facilitate patient access to the
MyoPro, the Company intends to file for a unique HCPCS code for the device from CMS, which could make it more easily reimbursed
for individuals covered by Medicare and Medicaid. Also, the Company plans to work with commercial health insurers to establish
payment guidelines for their members.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">To bring the MyoPro to what we believe is the large number of potential
patients outside of the US, we have begun discussions with regional companies that have established distribution channels in these
markets, and entered into an agreement with Ottobock for distribution in certain EU countries. Our plan is to obtain CE Mark (a
CE Mark on a product is a manufacturer&rsquo;s declaration that the product complies with the essential requirements of the relevant
European health, safety and environmental protection legislation) for the MyoPro so that it can be marketed in Europe, and to
seek regulatory approval via local partners in selected other markets.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Following
the Offering, depending on amounts raised, the Company plans to increase its marketing and advertising expenditures to raise awareness
and educate clinicians and patients about the MyoPro.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Competition</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">An individual
with difficulty walking has a wide range of technology alternatives from canes and crutches to powered wheelchairs and exoskeleton
suits. However, those with paralysis of the arm, wrist, and hand, whose physical challenges the Company seeks to address, have
few options and are often left to languish.</FONT></P>

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

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

<!-- Field: Page; Sequence: 51; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Rehabilitation
Therapy</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rehab
therapy is the standard of care for upper extremity paralysis and a prerequisite to qualifying for a myoelectric orthosis such
as the MyoPro. After a stroke or other traumatic injury, a large portion of survivors are able to regain much or all of their
function. However, every year there are many survivors whose upper extremities remain paralyzed despite best efforts of rehabilitation
therapists.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Non-Powered
Braces</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Some
individuals are able to accomplish their functional goals with braces that are non-powered or use springs to offset forces of
gravity or muscle tightness (spasticity). Medical professionals who evaluate patients for myoelectric orthotics screen out individuals
who could accomplish their goals with a simpler, less costly intervention such as these braces.&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Experimental
Surgery: Battelle &ndash; Brain Implants&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">An
array of experimental interventions currently is being researched at universities and non-profit research facilities around the
world. One such innovation recently announced by Battelle Memorial Institute in Ohio involves a craniotomy (surgical opening into
the skull) performed to implant a sensor chip in the brain. An electrical cable is connected to the top of the head connecting
to a system that sends pulses of electrical stimulation to activate muscles in the forearm. The procedure is experimental, invasive,
and costly, but may be offered as an alternative to a myoelectric orthosis.&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Exoskeleton
Suits&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">During
the last few years, a number of companies have emerged to provide exoskeleton suits that enable those with lower extremity paralysis
to stand and walk again. Companies in this space include ReWalk, Ekso Bionics, and Cyberdyne. Just as it is reasonable to assume
Myomo will one day enter the lower extremity market, it would not be surprising to see these companies begin to compete with solutions
for the upper extremity, however the Company is not aware that any of these companies currently is considering upper extremity
products, though we can provide no assurance that they are not currently developing competing products.&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Potential
New Products from O&amp;P Manufacturers&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">If
our business grows, interest may develop among existing manufacturers of other orthotic and prosthetic devices that compete with
the MyoPro, which may or may not challenge the validity of our intellectual property. &nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Intellectual
Property&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 6pt">The MyoPro&trade; is protected by two core patents
exclusively licensed from MIT for the life of the patents. The first patent (U.S. Pat. No. 7,396,337) covers a powered orthotic
device, worn over a patient&rsquo;s elbow or other joint, that senses relatively low level muscle signals in the vicinity of the
joint generated by a patient. In response to the relatively low level signals, the powered orthotic device moves, causing the
patient&rsquo;s body part to move about the joint accordingly with adjustable force and assistance settings. The patent expires
on December 1, 2023. The second patent (U.S. Pat. No. 7,367,958) covers a method of providing rehabilitation movement training
for a person suffering from nerve damage, stroke, spinal cord injury, neurological trauma or neuromuscular disorder by moving
a body part about a joint using a powered orthotic device. The patent claims methods that include moving the body part about the
joint in two directions based on an EMG signal from a muscle associated with that body part or moving the body part about the
joint in one direction based on the EMG signal and in another directio<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">n
based on a return force in the absence of a sensed EMG signal. This patent expires on November 21, 2023, which represents the
earliest patent expiration among Myomo&rsquo;s intellectual property portfolio.&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 6pt">The two patent licenses discussed above were granted
to that certain exclusive licensing agreement, as amended (the &ldquo;License Agreement&rdquo;). Pursuant to the License Agreement,
we have been granted access to those certain patent rights in exchange for the payment of royalties, which vary based on the level
of our net sales. As part of the License Agreement, we must pay a nonrefundable annual license maintenance fee which may be credited
to any royalty amounts due in that same year. The License Agreement can be terminated if certain sales targets are not achieved.&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
future minimum amounts due under this agreement for the next five years and thereafter are as follows:&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-align: left">2016</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">25,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2020 through expiration of the patents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 6pt"> Under the Licensing Agreement,  we issued 5,680
shares of our Common Stock to MIT. They have the right to purchase additional shares of our Common Stock to maintain their pro
rata ownership. </P>





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 6pt">On November 15, 2016, the Company and MIT entered
into a waiver agreement with regard to certain obligations (the &ldquo;Obligations Waiver&rdquo;) under the License Agreement.
The Obligations Waiver contemplates that the Company has not met certain revenue obligations (the &ldquo;Revenue Obligations&rdquo;)
and certain commercialization obligations (the &ldquo;Commercial Obligations&rdquo;), which are required under the License Agreement.
Pursuant to the Revenue Obligations, the Company was originally obligated to have net sales of at least $200,000, $250,000, $500,000
and $750,000 in 2010, 2011, 2012 and 2013 (and each year thereafter), respectively. Pursuant to the Commercialization Obligations,
the Company was originally obligated to introduce a home version of a &ldquo;licensed product&rdquo; on or before December 31,
2010, expand distribution of a licensed product to 10 major metropolitan areas on or before December 31, 2011 and expand distribution
to at least one country outside of the United States on or before December 31, 2012. The Obligations Waiver waives any and all
Revenue Obligations up to the date of the waiver agreement and waives the Commercialization Obligations up to and through the
date of the waiver agreement. The Obligations Waiver cannot be terminated by any other parties.</P>









<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 6pt"> Myomo has its own issued patents as well. In January
2013, Myomo&rsquo;s patent entitled <I>Powered Orthotic Device </I>was granted in Europe (European Patent No. 2079361). In June
2014, a substantially similar patent was granted in Japan (Japanese Patent No. 5557529). In November 2013 and January 2015, Myomo&rsquo;s
two U.S. patents issued entitled <I>Powered Orthotic Device and Method of Using Same</I> (U.S. Pat. Nos. 8,585,620 and 8,926,534,
respectively). On July 26, 2016, Myomo&rsquo;s third U.S. patent was issued (U.S. Pat. No. 9,398,994). </P>





<!-- Field: Page; Sequence: 52; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In addition
to issued patents, Myomo has also recently filed a utility application as it develops new technologies and expands its expertise
and product offerings. The pending application entitled <I>Powered Orthotic Device and Method of Using Same </I>filed in 2016
covers the use of powered orthotics worn over two or more joints controlled by two or more EMG sensors.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In terms
of trademarks, the terms Myomo and MyoPro are registered as trademarks with the US Patent &amp; Trademark Office. Within the first
ten years from the registration dates shown above, we will be required to complete two (2) &ldquo;maintenance&rdquo; filings,
one between the 5<SUP>th</SUP> and 6<SUP>th</SUP> years and the second between the 9<SUP>th</SUP> and 10<SUP>th</SUP> years. Each
successive 10 year period thereafter we will be required to complete a &ldquo;maintenance&rdquo; filing between every 9<SUP>th
</SUP>and 10<SUP>th</SUP> year. Our trademarks were registered in 2013 and 2014.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Government
Regulation</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The MyoPro
device and our operations including our supply chain and distribution channels are subject to regulation by the FDA and various
other U.S. federal and state agencies. We are also subject to regulation by foreign governmental agencies in connection with international
sales. These agencies enforce laws and regulations that govern the development, testing, manufacturing, labeling, advertising,
marketing and distribution, and market surveillance of the Company&rsquo;s medical device products. These agencies possess the
authority to take various administrative and legal actions against the Company, such as product recalls, product seizures and
other civil and criminal sanctions.</FONT></P>

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





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Under the FFDCA, medical devices are classified as Class
I, Class II or Class III, depending on the degree of risk and the extent of control needed to ensure safety and effectiveness.
As the FDA is now giving more attention to the differentiated performance of myoelectric controlled orthotics, we recently elected
to change our classification registration to Class II for the next version of the MyPro to be introduced in the &nbsp;near future. These are generally low risk devices for which safety and effectiveness can be assured by safety and testing adherence to
a set of guidelines, which include compliance with the applicable portions of the FDA&rsquo;s Quality System Regulation (&ldquo;QSR&rdquo;),
facility registration and product listing, reporting of adverse medical events, and appropriate, truthful and non-misleading labeling,
advertising, and promotional materials. </P>









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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We, together
with Cogmedix, actively maintain FDA 21 CFR Part 820 QSR and ISO 13485 Quality Management Systems for product design, manufacturing,
distribution, and customer feedback processes. Following the introduction of a product, the FDA and foreign agencies engage in
periodic reviews of our quality systems, the product performance, and the advertising and promotional materials. These regulatory
controls, as well as any changes in FDA policies, can affect the time and cost associated with the development, introduction and
continued availability of new products. We work to anticipate these factors in our product development processes.&nbsp;</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Manufacturing</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Myomo&rsquo;s
custom fabricated orthosis is comprised of two elements. The first is the electromechanical kit. The kit consists of the motor
units, processor, sensors, and battery. Manufacturing for the electromechanical kit is provided by our supplier Cogmedix, a wholly
owned subsidiary of Coghlin Companies in Worcester, MA. The second element is the custom fabrication of the orthosis itself from
a model of the patient&rsquo;s arm. Custom fabrication is provided by GRE, privately owned by Jonathan Naft, an executive of Myomo.
<I>See</I> &ldquo;Certain Relationships and Related Party Transactions.&rdquo;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">If the
volume and geographic reach of our sales expand, we may seek additional sources for manufacturing and custom fabrication of the
devices as the needs of the Company require.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Employees</FONT></P>

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

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> As of March 15, 2017, we employed a total of 19 full
time and 4 part time employees, and we contract for other roles with 3 independent consultants. All employees and contractors
are subject to contractual agreements that specify requirements for confidentiality, ownership of newly developed intellectual
property and restrictions on working for competitors as well as other matters. </P>





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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Properties</B></FONT></P>

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Our primary offices are located at the Cambridge Innovation
Center, One Broadway, 14<SUP>th</SUP> Floor, in Cambridge, Massachusetts, where we have a month-to-month lease to operate an office
consisting of approximately 700 square feet of office and laboratory space. We believe our facilities are currently adequate for
us to conduct our business. A number of our employees work remotely from home across the U.S. </P>





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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Legal
Proceedings</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">There
are no legal proceedings material to our business or financial condition pending and, to the best of our knowledge, there are
no such legal proceedings contemplated or threatened.</FONT></P>

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

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

<!-- Field: Page; Sequence: 53; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><A NAME="a_011"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">MANAGEMENT</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">Set forth below is information regarding our directors
and executive officers as of the date of this Offering Circular.</P>



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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border-bottom: black 1.5pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name</FONT></TD>
    <TD STYLE="width: 2%; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: black 1.5pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Age</FONT></TD>
    <TD STYLE="width: 2%; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 58%; border-bottom: black 1.5pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul R. Gudonis</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">62</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President, Chief Executive
    Officer and Chairman of the board of directors</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ralph A. Goldwasser</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">69</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Davie Mendelsohn</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">63</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice President &ndash;
    Sales and Clinical Services</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan Naft</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">51</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice President and
    General Manager </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thomas A. Crowley,
    Jr.</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">69</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thomas F. Kirk</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">71</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lead Independent Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amy Knapp</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">61</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steve Sanghi</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">61</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
</TABLE>


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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Until the implementation of a staggered board, as permitted
in the Company&rsquo;s Amended and Restated Certificate of Incorporation, each director holds his or her office until he or she
resigns or is removed and his or her successor is elected and qualified. Our executive officers are elected by, and serve at the
discretion of, our board of directors. There are no family relationships among any of our directors or executive officers.</P>



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

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><B><I>Paul R. Gudonis</I></B> has been our Chairman of the board of directors
since August 2016 and our Chief Executive Officer and a director of the Company since July 2011. Mr. Gudonis was also appointed
President in February 2017. He brings 30 years of experience in launching new technology-based products and services to Myomo.
His career spans the fields of software, telecommunications, Internet services, and robotics. Prior to joining the Company, Mr.
Gudonis served as President at FIRST Robotics from October 2005 until June 2010. Prior to his position at FIRST, Mr. Gudonis was
the Chief Executive Officer of Centra Software, Inc., from August 2003 until April 2005. Mr. Gudonis was also the Chief Executive
Officer of Genuity, Inc. from January 2000 until March 2003. He has also served as Chairman of the Massachusetts High Tech Council,
He is a member of the Dean&rsquo;s Advisory Council at his alma mater, Northwestern University&rsquo;s McCormick School of Engineering,
where he earned his degree in electrical engineering. At the school, he serves on advisory boards of the Biomedical Engineering
Department and NUvention medical device innovation program. He also earned his MBA degree from Harvard University.</P>



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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">We believe Mr. Gudonis&rsquo;s academic executive experience,
engineering background and substantive experience in assisting early stage ventures provide the requisite qualifications, skills,
perspectives, and experience that make him well qualified to serve on our board of directors.&nbsp;</P>

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

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

<!-- Field: Page; Sequence: 54; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><I>Ralph A. Goldwasser</I></B> <FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt; line-height: 115%">has
been our Chief Financial Officer since February 2011. Mr. Goldwasser brings over 30 years of experience financial leadership and
management in high technology based companies. Prior to becoming Chief Financial Officer, since 2011, Mr. Goldwasser had provided
financial consulting services, including accounting support and financial statement preparation, to privately-held companies.
From February 2006 through May 2008, Mr. Goldwasser was the Senior Vice President and Chief Financial Officer of Unica Corporation,
which was listed on the NASDAQ Global Market during such time. From February 2000 until March 2002 he was Executive Vice President
and Chief Financial Officer of Adero Inc. a privately held company. From June 1998 to January 2000 he was Senior Vice President
and Chief Financial Officer of Avici Systems Inc. a privately held company. From January 1993 until June 1997, Mr. Goldwasser
was Senior Vice President and Chief Financial Officer of BBN Corporation, which was listed on the New York Stock Exchange during
such time. Mr. Goldwasser is a CPA and has earned his MBA degree from New York University, and a degree in Electrical Engineering
from City College of New York.</FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><I>Davie Mendelsohn </I></B>has been our Vice President
of Sales and Clinical Services since December 2013. From August 2012 until December 2013, Ms. Mendelsohn was a Product Development
Manager for sales, marketing and product development at &Ouml;ssur Americas, Inc. From August 2009 until August 2012, Ms. Mendelsohn
was a Vice President of sales, marketing and product introduction at Touch Bionics Inc. From 1999 until August 2009, Ms. Mendelson
was in Sales Management at Ottobock US Healthcare. Prior to 1999, Ms. Mendelsohn was in Sales Management and Clinical Support
at Matria Healthcare.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><I>Jonathan Naft </I></B>has been our General Manager
since April 2012. He is an experienced member of the O&amp;P community and is the founder of GRE. He is a graduate of The Ohio
State University College of Engineering and from Northwestern University&rsquo;s Prosthetic-Orthotic Center. Prior to working
with Myomo, Mr. Naft grew a three office practice that is well known for its innovation, creativity, and product development.
At GRE, O&amp;P, Mr. Naft and his staff fabricated and fit patients for prosthetics including above knee, below knee, and upper
extremity. Mr. Naft is experienced with young athletes as well as geriatrics. For his Orthotic patients, Mr. Naft is experienced
with cranial, upper extremity, lower extremity, and spinal devices. Mr. Naft is an examiner for the American Board for Certificate
in Orthotics and Prosthetics certification exam and is a past President for the Ohio Academy of Orthotists and Prosthetists. Mr.
Naft is also a member of the prestigious American Orthotic Prosthetic Association Coding Committee, and has been an invited speaker
at several national prosthetic and orthotic conferences. Mr. Naft is on the advisory board for the O&amp;P Business news, and
he routinely provides peer review throughout the industry.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Thomas
A. Crowley, Jr. </I></B>has been a member of our board of directors since March 2012. Mr. Crowley has served on the board of Vertical
Spine, LLC since July 2011. He has also served on the board of Cascade Medical Enterprises, LLC since January 2008. He is actively
engaged in providing governance and business advice involving financial transactions, business strategy and execution to four
medical device companies and two private equity firms. He also served as Chairman of Core Essence Orthopedics, Inc. from March
2011 until March 2012. Mr. Crowley was a board member of Aircast, LLC from September 2003 until May 2006 and was a board member
of and Freedom Innovations from March 2011 until June 2013, and member of the Corporate Advisory Council and American Society
for Surgery of the Hand from January 2010 and December 2011, respectively.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prior
to his current role, Mr. Crowley was also President of Small Bone Innovations, Inc. from February 2008 until February 2011. He
also served as Managing Director - Healthcare Investment Banking at Friedman Billings Ramsey from September 2006 until January
2008. Mr. Crowley holds a BA from Fairfield University, an MS, Columbia University School of Business, and is a Graduate, U.S.
Army Command and General Staff College, Ft. Leavenworth, KS.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We believe
Mr. Crowley&rsquo;s executive experience, and his financial, investment, and management experience provide the requisite qualifications,
skills, perspectives, and experience that make him well qualified to serve on our Board of Directors.</FONT></P>

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

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

<!-- Field: Page; Sequence: 55; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> <B><I>Thomas F. Kirk</I></B> has been a member of our
Board of Directors since September 2014 and lead independent director since October 2016. Dr. Kirk has been the Chief Executive
Officer and a member of the board of directors of American Surgical Professionals since June 2013. Dr. Kirk was the Chief Executive
Officer of Hanger Orthopedic Group, Inc. from March 2008 until May 2012 and served as its Chief Operating Officer from January
2002 to February 2008. Dr. Kirk also served as Director on Hanger&rsquo;s Board from January 2002 to May 2014. From September
1998 to January 2002, Dr. Kirk was a principal with AlixPartners, LLC (formerly Jay Alix &amp; Associates, Inc.), a management
consulting company that was retained by Hanger in 2001 to facilitate its reengineering process. From May 1997 to August 1998,
Dr. Kirk served as Vice President, Planning, Development and Quality for FPL Group, a full service energy provider located in
Florida. From April 1996 to April 1997, he served as Vice President and Chief Financial Officer for Quaker Chemical Corporation
in Pennsylvania. From December 1987 to March 1996, he held several positions and most recently served as Senior Vice President
and Chief Financial Officer for Rhone Poulenc, S.A. in Princeton, New Jersey and Paris, France. From March 1977 to October 1987,
he was employed by St. Joe Minerals Corp., a division of Fluor Corporation. Prior to this, he held positions in sales, commercial
development, and engineering with Koppers Co., Inc. Dr. Kirk holds a Ph.D. degree in strategic planning/marketing, and an M.B.A.
degree in finance from the University of Pittsburgh. He also holds a Bachelor of Science degree in mechanical engineering from
Carnegie Mellon University. He is a registered professional engineer. </P>







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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">We believe Dr. Kirk&rsquo;s experience in leading management
teams in finance, strategic planning and business development provide the requisite qualifications, skills, perspectives, and
experience that make him well qualified to serve on our Board of Directors.&nbsp;</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><I>Amy Knapp </I></B>has been a member of our Board of
Directors since July 2016. Ms. Knapp brings 35 years of experience in healthcare, working for health plans and health insurance
companies. In July 2016, Ms. Knapp co-founded Indigo Inc., a start-up offering a whole person retirement planning service, using
sophisticating matching technology and the most recent science about the role of purpose in a healthy life. Indigo&rsquo;s mission
is to help people thrive in &ldquo;second adulthood&rdquo;. Ms. Knapp has also served as a consultant to numerous companies since
January 2013. As a consultant, she used her expertise to increase revenue and develop programs relating to food and health. Since
October 2013, Ms. Knapp has worked for Google Food Innovation Lab, where she focused on recruiting subject matter experts in health
care finance, delivery and markets. Since July 2015, she has worked for Early Life Nutrition, where she developed pilot testing
for the use of web-based coaching services by health care providers and managed the contracted field force used for the pilot.
Since June 2015, she has worked for Voxiva (a text based digital health and wellness company based in Washington, D.C.) to help
negotiate health content partnerships. From April 2014 until January 2015, Ms. Knapp used payor contracting and strategic partnerships
to raise the revenue and position of Alere Health, Inc., resulting in a final sales price that was $220 million higher than the
asking price 18 months before the sale. She also redirected existing assets of the company to create a line of business focusing
on women and children&rsquo;s health. Ms.&nbsp;Knapp serves on many healthcare related board of directors including: Mt Sinai
Medical Center (a thousand bed teaching hospital in Miami Beach); Affinity Health Plan (a Medicaid health plan in the Bronx);
and Voxiva (a text based digital health and wellness company in Washington DC).&nbsp; From January 2010 to January 2012, Ms. Knapp
served as an international vice president to Jazz at Lincoln Center. Jazz at Lincoln Center is a department of Lincoln Center
for the Performing Arts, an organization that hosts internationally renowned performing arts organizations, including the New
York Philharmonic, the Metropolitan Opera and the New York City Ballet. As an international vice president for Jazz at Lincoln
Center, Ms. Knapp focused on developing a business model conducive to creating an international brand and negotiated master, licensing
and consulting agreements. Ms. Knapp holds a Bachelor of Arts from Pomona College, Claremont, CA and a Masters of Business Administration
from the University of Southern California.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">We believe Ms. Knapp&rsquo;s executive experience, management
experience and substantive experience working with companies in the health industry provide the requisite qualifications, skills,
perspectives, and experience that make her well qualified to serve on our Board of Directors.</P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Steve Sanghi </I></B>has been a member of our Board of Directors
since October 2016. He has served as Chief Executive Officer of Microchip Technologies, a manufacturer of microcontroller, memory
and analog semiconductors, since October 1991, and Chairman of the board of directors since October 1993. In June 1995, Mr. Sanghi
received an Arizona Entrepreneur of the Year award. He is co-author of the book &ldquo;Driving Excellence: How the Aggregate System
Turned Microchip Technology from a Failing Company to a Market Leader (Wiley; April 2006),&rdquo; along with Michael J. Jones,
Microchip&rsquo;s former head of human resources.</P>





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

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

<!-- Field: Page; Sequence: 56; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Earlier
in his career, Mr. Sanghi was Vice President of Operations at Waferscale Integration, Inc., a semiconductor company, from 1988
to 1990. Mr. Sanghi was employed by Intel Corporation from 1978 to 1988, where he held various positions in management and engineering,
the most recent serving as General Manager of Programmable Memory Operations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr. Sanghi&rsquo;s
past board of directors service includes Hittite Microwave, Xyratex, Ltd., Chairman of the Board of FlipChip International, Adflex
Solutions, Artisoft Inc., and Vivid Semiconductor. He has also served as a member of the board of trustees of Kettering University
in Flint, Michigan, and as a member of the board of <I>FIRST<SUP>&reg;</SUP></I> (For Inspiration and Recognition of Science and
Technology) Robotics. Mr. Sanghi holds a Master&rsquo;s of Science degree in Electrical and Computer Engineering from the University
of Massachusetts, and a Bachelor of Science degree in Electronics and Communication from Punjab University, India.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We believe
Mr. Sanghi&rsquo;s executive experience and prior board leadership positions provide the requisite qualifications, skills, perspectives,
and experience that make him well qualified to serve on our Board of Directors.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Involvement
in Certain Legal Proceedings</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">None of
our directors or executive officers has been involved in any of the following events during the past ten years:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                         bankruptcy petition filed by or against any business of which such person was a general
                                         partner or executive officer either at the time of the bankruptcy or within two years
                                         prior to that time;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                         conviction in a criminal proceeding or being subject to a pending criminal proceeding
                                         (excluding traffic violations and other minor offences);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">being
                                         subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated,
                                         of any court of competent jurisdiction, permanently or temporarily enjoining, barring,
                                         suspending or otherwise limiting his or her involvement in any type of business, securities
                                         or banking activities; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">being
                                         found by a court of competent jurisdiction (in a civil action), the Commission or the
                                         Commodity Futures Trading Commission to have violated a federal or state securities or
                                         commodities law, and the judgment has not been reversed, suspended, or vacated.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Board
Composition</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our Board
of Directors currently consists of five members and will be authorized to have up to ten members upon the effectiveness of our
amended and restated certificate of incorporation. Each director of the Company serves until the next annual meeting of stockholders
and until his successor is elected and duly qualified, or until his earlier death, resignation or removal. Our board is authorized
to appoint persons to the offices of President, Secretary, Treasurer and such other offices as may be determined by the board.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We have
no formal policy regarding board diversity. In selecting board candidates, we seek individuals who will further the interests
of our stockholders through an established record of professional accomplishment, the ability to contribute positively to our
collaborative culture, knowledge of our business and understanding of our prospective markets. We plan to recruit additional independent
directors who can bring specific expertise and experience that is relevant to the Company&rsquo;s business and future direction.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Classified
Board</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In accordance
with the terms of our amended and restated certificate of incorporation and amended and restated bylaws that will become effective
upon the closing of this Offering, our Board of Directors may, by resolution, be divided into three classes, class I, class II
and class III, with each class serving staggered three-year terms. In the event such resolution is adopted, upon the expiration
of the term of a class of directors, directors in that class will be eligible to be elected for a new three-year term at the annual
meeting of stockholders in the year in which their term expires.</FONT></P>

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

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

<!-- Field: Page; Sequence: 57; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our amended and restated certificate of incorporation and amended
and restated bylaws that will become effective upon the completion of this Offering provide that the authorized number of directors
may be changed only by resolution of the Board of Directors. If we established a staggered board, then any additional directorships
resulting from an increase in the number of directors will be distributed among the three classes so that, as nearly as possible,
each class shall consist of one third of the Board of Directors.</P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
division of our Board of Directors into three classes with staggered three-year terms may delay or prevent stockholder efforts
to effect a change of our management or a change in control.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director
Independence</FONT></P>

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

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Board of Directors has determined that Dr. Kirk and Messrs.
Crowley and Sanghi and Ms. Knapp satisfy the requirement for independence set out in Section 803 of the NYSE MKT rules and that
each of these directors has no material relationship with us (other than being a director and/or a stockholder). In making its
independence determinations, the Board of Directors sought to identify and analyze all of the facts and circumstances relating
to any relationship between a director, his or her immediate family or affiliates and our company and our affiliates and did not
rely on categorical standards other than those contained in the NYSE MKT rule referenced above.&nbsp;</P>





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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Board
Committees</FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our Board of Directors has established three standing committees
&mdash; audit, compensation and nominating and corporate governance &mdash; each of which operate under a charter that has been
approved by our board. We have appointed persons to the Board of Directors and committees of the Board of Directors as required
to meet the corporate governance requirements of the NYSE MKT. We currently have a majority of independent directors on our board.</P>





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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Audit
Committee</B></FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We have a separately designated standing audit committee of our
Board of Directors, as defined in Section 3(a)(58)(A) of the Exchange Act. The audit committee is currently comprised of three
of our independent directors: Amy Knapp, Thomas Crowley and Steve Sanghi. Ms. Knapp is the Chair of our audit committee. Our Board
of Directors has determined that each of the members of our audit committee is &ldquo;independent&rdquo; within the meaning of
the rules of the NYSE MKT and the SEC and that each of the members of our audit committee is financially literate and has accounting
or related financial management expertise, as such qualifications are defined under the rules of the NYSE MKT. In addition, our
Board of Directors has determined that Ms. Knapp is an &ldquo;audit committee financial expert&rdquo; as defined by the SEC. Our
audit committee operates under a written charter that was adopted in 2016. A copy of the charter may be found on our website at
www.myomo.com and will be provided in print, free of charge, to any stockholder who requests a copy by submitting a written request
to our Secretary at Myomo, Inc., One Broadway, 14<SUP>th</SUP> Floor, Cambridge Massachusetts 02142.</P>





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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our audit committee assists our Board of Directors in its oversight
of our accounting and financial reporting process and the audits of our financial statements. Our audit committee&rsquo;s responsibilities
include:</P>





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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">appointing,
                                         approving the compensation of, and assessing the independence of our registered public
                                         accounting firm;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">overseeing
                                         the work of our registered public accounting firm, including through the receipt and
                                         consideration of reports from such firm;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         and discussing with management and the registered public accounting firm our annual and
                                         quarterly financial statements and related disclosures;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">monitoring
                                         our internal control over financial reporting, disclosure controls and procedures and
                                         code of business conduct and ethics;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">overseeing
                                         our internal accounting function;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">discussing
                                         our risk management policies;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">establishing
                                         policies regarding hiring employees from our registered public accounting firm and procedures
                                         for the receipt and retention of accounting-related complaints and concerns;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">meeting
                                         independently with our internal accounting staff, registered public accounting firm and
                                         management;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         and approving or ratifying related party transactions; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">preparing
                                         the audit committee reports required by SEC rules.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"></P>

<!-- Field: Page; Sequence: 58; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Compensation
Committee</B></FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The members of the compensation committee are Thomas Crowley and
Thomas Kirk. Mr. Crowley is the Chair of the compensation committee. Our Board of Directors has determined that each of the members
of the Compensation Committee is &ldquo;independent&rdquo; within the meaning of the rules of the NYSE MKT. Our compensation committee
assists our Board of Directors in the discharge of its responsibilities relating to the compensation of our executive officers.
Our compensation committee operates under a written charter that was adopted in 2016. A copy of the charter may be found on our
website at www.myomo.com and will be provided in print, free of charge, to any stockholder who requests a copy by submitting a
written request to our Secretary at Myomo, Inc., One Broadway, 14<SUP>th</SUP> Floor, Cambridge Massachusetts 02142.</P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The compensation
committee&rsquo;s responsibilities include:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         and approving corporate goals and objectives with respect to Chief Executive Officer
                                         compensation;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">making
                                         recommendations to our board with respect to the compensation of our Chief Executive
                                         Officer and our other executive officers;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">overseeing
                                         evaluations of our senior executives;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">review
                                         and assess the independence of compensation advisers;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">overseeing
                                         and administering our equity incentive plans;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         and making recommendations to our board with respect to director compensation;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         and discussing with management our &ldquo;Compensation Discussion and Analysis&rdquo;
                                         disclosure; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">preparing
                                         the compensation committee reports required by SEC rules.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Nominating
and Corporate Governance Committee</B></FONT></P>

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

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The members of the nominating and corporate governance committee
are Thomas Kirk, Steve Sanghi and Amy Knapp. Dr. Kirk is the Chair of the nominating and corporate governance committee. Our Board
of Directors has determined that each of the members of the nominating and corporate governance committee is &ldquo;independent&rdquo;
within the meaning of the rules of the NYSE MKT. Our nominating and corporate governance committee operates under a written charter
that was adopted in 2016. A copy of the charter may be found on our website at www.myomo.com and will be provided in print, free
of charge, to any stockholder who requests a copy by submitting a written request to our Secretary at Myomo, Inc., One Broadway,
14<SUP>th</SUP> Floor, Cambridge Massachusetts 02142.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The nominating
and corporate governance committee&rsquo;s responsibilities include:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">identifying
                                         individuals qualified to become board members;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">recommending
                                         to our board the persons to be nominated for election as directors and to be appointed
                                         to each committee of our Board of Directors;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         and making recommendations to the board with respect to management succession planning;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">developing
                                         and recommending corporate governance principles to the board; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">overseeing
                                         periodic evaluations of board members.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"></P>

<!-- Field: Page; Sequence: 59; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Board
Leadership Structure and Risk Oversight</FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our Board of Directors currently believes that our company is best
served by combining the roles of Chairman of the Board and Chief Executive Officer. Our Board of Directors believes that as Chief
Executive Officer, Mr. Gudonis is the director most familiar with our business and industry and most capable of effectively identifying
strategic priorities and leading discussion and execution of strategy. Our independent directors bring experience, oversight and
expertise from outside our company, while our Chief Executive Officer brings company-specific experience and expertise. Our Board
of Directors believes that the combined role of Chairman and Chief Executive Officer is the best leadership structure for us at
the current time as it promotes the efficient and effective development and execution of our strategy and facilitates information
flow between management and our Board of Directors. The Board of Directors recognizes, however, that no single leadership model
is right for all companies at all times. Our corporate governance guidelines provide that the Board of Directors should be free
to choose a chairperson of the board based upon the board&rsquo;s view of what is in the best interests of our company. Accordingly,
the Board of Directors periodically reviews its leadership structure.</P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Board
of Directors oversees our business and considers the risks associated with our business strategy and decisions. The board currently
implements its risk oversight function as a whole. Each of the board committees also provides risk oversight in respect of its
areas of concentration and reports material risks to the board for further consideration.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lead
Independent Director</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our independent
directors have designated Thomas Kirk as our lead independent director. The lead independent director coordinates the activities
of our other independent directors. In addition to the duties of all members of the Board of Directors, the Lead Independent Director
has the following additional responsibilities and authority:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">presiding
                                         at meetings of the Board of Directors in the absence of, or upon the request of, the
                                         Chairman;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">scheduling,
                                         developing the agenda for, and presiding at executive sessions of the independent directors;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">advising
                                         the Chairman and/or the Board of Directors as to the decisions reached, if any, at each
                                         executive session;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">serving
                                         as the principal liaison between the independent directors and the Chairman/CEO;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">advising
                                         the Chairman as to the quality, quantity and timeliness of the information submitted
                                         by the Company&rsquo;s management that is necessary or appropriate for the independent
                                         directors to effectively and responsibly perform their duties;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">assisting
                                         the Board of Directors and the nominating and corporate governance committee in better
                                         ensuring compliance with and implementation of our corporate governance guidelines; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">recommending
                                         to the Chairman, at the direction of the independent directors, the retention of outside
                                         advisors and consultants who report directly to the Board of Directors on board-wide
                                         issues.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our Board
of Directors has adopted a lead independent director charter. A copy of the lead independent director charter is available on
our website at www.myomo.com/investors under &ldquo;Governance Documents.&rdquo;</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Code
of Business Conduct and Ethics</FONT></P>

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> We adopted a written code of business conduct and
ethics that applies to our directors, officers and employees, including our principal executive officer, principal financial
officer and principal accounting officer or controller, or persons performing similar functions. Upon the &nbsp;anticipated
listing of our Common Stock on NYSE MKT, we will post on our website a current copy of the code and all disclosures that are
required by law or the NYSE MKT rules in regard to any amendments to, or waivers from, any provision of the code. <BR CLEAR="ALL"></P>





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

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

<!-- Field: Page; Sequence: 60; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><A NAME="a_012"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">EXECUTIVE
COMPENSATION</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
named executive officers for fiscal 2016 set forth in this Offering Circular (the &ldquo;Named Executive Officers&rdquo;) are:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paul
                                         R. Gudonis;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Steve
                                         Kelly;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><P STYLE="margin: 0">Jonathan
                                         Naft; and</P>


</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="margin: 0">Davie Mendelsohn.</P>


</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Summary
Compensation Table</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">The following table summarizes the compensation
of our Named Executive Officers during the years ended December 31, 2016 and 2015.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>and
        Principal Position</B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Year</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Salary</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($)</B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Bonus</B>&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($)</B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Stock</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Awards</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($)</B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Option</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Awards</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($)
        (1)</B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Non-Equity</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Incentive</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Plan</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Compensation</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($)</B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Nonqualified</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Deferred</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Compensation</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Earnings</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($)</B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>All
                                         Other</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Compensation</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($)</B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($)</B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul
    R. Gudonis,</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">48,000</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,555</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16,657</FONT></TD>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">69,212</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">114,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26,854</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,866</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="margin: 0">156,720</P></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steve
    Kelly,</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">48,000</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,555</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,758</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">68,313</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President
    and Chief Operating Officer (5)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">98,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,866</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">113,866</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan
    Naft,</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,000</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="margin: 0">3,165</P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">65,950</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="margin: 0">169,115</P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
    Manager &ndash; O&amp;P Division</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,330</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">123,330</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Davie
    Mendelsohn,</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">120,000</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="margin: 0">1,822</P>


</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,005</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><P STYLE="margin: 0">133,827</P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice
    President &ndash; Sales &amp; Clinical Services</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">120,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24,400</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,533</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">156,933</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


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

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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; font: 11pt/115% Calibri, Helvetica, Sans-Serif; text-align: left; width: 0.35in; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="padding: 0pt; font: 11pt/115% Calibri, Helvetica, Sans-Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amounts
    reflect the aggregate grant date fair value of stock options awarded to the named executive officer in the years ended December
    31, 2016 and 2015, as applicable, using the Black-Scholes option-pricing model in accordance with FASB ASC Topic 718. Such
    grant date fair values do not take into account any estimated forfeitures related to service-vesting conditions. The assumptions
    used in calculating the grant date fair value of the stock options reported in this column are set forth in the Notes to our
    Financial Statements included elsewhere in this prospectus. These amounts are not the actual value that the named executive
    officer may realize upon exercise of these stock options.</FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Health insurance benefit plan premiums paid by the Company.</FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Sales commissions paid by the Company pursuant to compensation
    arrangement.</FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.35in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Sales Incentive Compensation Plan.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(5)</TD>
    <TD>Mr. Kelly resigned his position on the Company's Board of Directors, and he retired from his current role as President
    and Chief Operating Officer effective as of January 31, 2017.</TD></TR>
</TABLE>


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

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

<!-- Field: Page; Sequence: 61; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Narrative
Disclosure to Summary Compensation Table</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paul
R. Gudonis<FONT STYLE="font-weight: normal">: &nbsp;</FONT></FONT></P>

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



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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Pursuant to the Letter of Employment, dated April 2, 2011,
as amended and supplemented on January 1, 2012, August 22, 2012, and June 7, 2015, between Paul R. Gudonis and the Company (the
&ldquo;Gudonis Letter&rdquo;), Mr. Gudonis agreed to join the Company&rsquo;s senior executive team as the Head of Business Development
for the period of April 1, 2011 through July 1, 2011, transitioning to the role of Chief Executive Officer thereafter. Mr. Gudonis&rsquo;
employment is at will, with no specific end date, and his base salary is subject to periodic review and adjustments at the Company&rsquo;s
discretion. As <FONT STYLE="color: #222222">of January 1, 2016, Mr. Gudonis&rsquo;s base salary was set at $2,000 per month. In
October 2016, Mr. Gudonis&rsquo;s base salary was increased to $10,000 per month.&nbsp;</FONT></P>

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> The Gudonis Letter further provided for the potential
award of stock options or restricted Common Stock in the amount of 10% of the then outstanding shares on a fully-diluted basis,
half vested, half not, upon completion of the next equity financing round and approval by the Company&rsquo;s board of directors.
Upon a change in control, the unvested options or restricted stock will be subject to double-trigger acceleration. Additionally,
upon the earlier to occur of a change in control or a qualifying initial public offering where we raise at least $15.0 million
in gross proceeds in a firm commitment underwritten public offering at a public offering price per share of at least $0.93, Mr.
Gudonis is eligible to receive a liquidity bonus equal to the difference between $20,000 and the actual amounts paid to Mr. Gudonis
during each month between January 1, 2013 and the triggering event described above, multiplied by the number of months in that
period. As of December 31, 2016, the amount payable to Mr. Gudonis, upon the occurrence of a triggering event described above,
was approximately $650,000. </P>





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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Mr. Gudonis was awarded 31,250 stock options in 2015 and
6,250 options in 2016 under the 2014 Plan.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">On December 23, 2016, the Company and Mr. Gudonis entered
into a new employment agreement which replaced the Gudonis Letter (the &ldquo;Gudonis Agreement&rdquo;), pursuant to which Mr.
Gudonis agreed to continue serving the Company as its Chief Executive Officer. Upon consummation of this Offering, Mr. Gudonis&rsquo;s
initial annual base salary shall be increased to $240,000. During the term, Mr. Gudonis shall be eligible to receive an annual
bonus of up to 50% of his base salary, with the actual amount to be determined by the Board of Directors and the Compensation
Committee based upon Mr. Gudonis and the Company meeting certain reasonable strategic, sales, operational, and financial goals
and targets established by the Board.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">As set forth in the Gudonis Agreement, Mr. Gudonis&rsquo;s
employment is at will, with an initial three (3) year term that may be renewed upon the consent of the parties. If the parties
decide not to renew the Gudonis Agreement but to continue to work together in an employment relationship, Mr. Gudonis&rsquo; employment
shall continue on an at-will basis pursuant to the terms and conditions then in effect, unless otherwise modified in writing.
In the case of termination without cause then the Company shall pay to Mr. Gudonis (i) his base salary for twelve months plus
a pro-rata portion of his bonus for the year, to be paid at the usual time bonuses are paid, (ii) if Mr. Gudonis was participating
in the Company&rsquo;s group health plan immediately prior to the date of termination and he elects COBRA health continuation,
then the Company shall pay to Mr. Gudonis a monthly cash payment for twelve (12) months or Mr. Gudonis&rsquo;s COBRA health continuation
period, whichever ends earlier, in an amount equal to the monthly employer contribution that the Company would have made to provide
health insurance to Mr. Gudonis if he had remained employed by the Company, and (iii) all stock options and other stock-based
awards held by Mr. Gudonis which would have vested if employment had continued for twelve (12) additional months will vest and
become exercisable or non-forfeitable. The payment by the Company of Mr. Gudonis&rsquo; base salary may be made either by a lump
sum or in equal installments. Additionally, if such termination without cause occurs within 12 months after the occurrence of
a change in control, then notwithstanding anything to the contrary in any applicable option agreement or stock-based award agreement,
all stock options and other stock-based awards held by Mr. Gudonis shall immediately accelerate and become fully exercisable or
non-forfeitable as of the date of termination.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Pursuant to the Letter of Employment, dated July 7, 2008,
as amended and supplemented on January 1, 2012, August 22, 2012, and June 8, 2015, between Steve Kelly and the Company (the &ldquo;Kelly
Letter&rdquo;), Mr. Kelly memorialized his employment with the Company as President and Chief Operating Officer. Mr. Kelly&rsquo;s
employment is at will, with no specific end date, and his base salary, originally $10,000 per month, is subject to periodic review
and adjustments at the Company&rsquo;s discretion. <FONT STYLE="color: #222222">As of January&nbsp;1, 2016, Mr. Kelly base salary
was set at $2,000 per month. In October 2016, Mr. Kelly&rsquo;s base salary was increased to $10,000 per month.&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: #222222">&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> The Kelly Letter further provided for the award of stock
options in the amount of 6% of the Company&rsquo;s fully diluted capitalization. Such options will vest over a 4 year period,
with an initial 25% vesting at the end of the first year following the issuance of the stock options, and an additional 2.0833%
vesting each month thereafter. Additionally, upon the earlier to occur of a change in control or a qualifying initial public offering
Mr. Kelly is eligible to receive a liquidity bonus equal to the difference between $20,000 and the actual amounts paid to Mr.
Kelly during each month between January 1, 2013 and the triggering event described above, multiplied by the number of months in
that period. As of December 31, 2016, the amount payable to Mr. Kelly, upon the occurrence of a triggering event described above,
was approximately $650,000<FONT STYLE="color: #222222">.</FONT> </P>





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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Mr. Kelly was subsequently awarded 6,250 stock options in
2016 under the 2014 Plan. Effective as of December 15, 2016, Mr. Kelly resigned his position on the Company&rsquo;s Board of Directors,
and he retired from his current role as President and Chief Operating Officer effective as of January 31, 2017. The Company has
retained his services as a Strategic Advisor on a part-time basis during the remainder of calendar year 2017 at a salary of $2,000
per month.</P>

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

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

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

<!-- Field: Page; Sequence: 61; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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


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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Pursuant to the Letter of Employment, dated April 10, 2012,
as amended and supplemented on July 17, 2012 and October 2, 2013, between Jonathan Naft and the Company (the &ldquo;Naft Letter&rdquo;),
Mr. Naft agreed to join the Company as General Manager &ndash; O&amp;P Division. Mr. Naft&rsquo;s employment is at will, with
no specific end date, and the target cash compensation for this role is $250,000 per year, depending on the Company&rsquo;s performance
in generating revenues and meeting its financial goals. The compensation plan consists of a monthly base salary of $8,333 (to
be reviewed at the end of 2014) plus incentive compensation equal to 5% of the Company&rsquo;s revenues for products sold to O&amp;P,
paid monthly. The incentive amount is uncapped, and an additional bonus plan is in place.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Pursuant to the Naft letter, Mr. Naft was granted 38,067
options to purchase Common Stock, equivalent to approximately 1.5% of the then fully diluted outstanding shares. The exercise
price of such stock options is equal to the fair market value of the Company&rsquo;s Common Stock on the grant date. The options
will vest in equal monthly installments over a 4 year period. Additionally, Mr. Gudonis states in the Naft Letter that he will
recommend to the board of directors that Mr. Naft be granted an additional 20,788 options to increase his ownership position (when
fully vested and exercised) to 2% of the fully diluted outstanding shares upon completion of the next round of financing, and
such options were granted in 2013.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">As of January 1, 2016, Mr. Naft&rsquo;s base salary was
set at $5,000 per month, and he was eligible for a one-time special bonus, payable in connection with our next financing or a
sale of our company, equal to the difference between $8,333 and $5,000, times the number of months that he is paid $5,000 per
month prior to the payment of the special bonus. &nbsp;In October 2016, Mr. Naft&rsquo;s base salary was increased to $8,333 per
month. The Company will also pay any earned incentive compensation upon raising additional capital.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Mr. Naft was granted an additional 4,063 stock options in
2016 under the 2014 Plan.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">On December 23, 2016, the Company and Mr. Naft entered into
a new employment agreement which replaced the Naft Letter (the &ldquo;Naft Agreement&rdquo;), pursuant to which Mr. Naft agreed
to serve the Company as Vice President and General Manager of the Company. Upon consummation of this Offering, Mr. Naft&rsquo;s
initial annual base salary shall be increased to $200,000. This base salary shall be determined annually by the Chief Executive
Officer of the Company. During the term, which is initially for two years with automatic one year renewals thereafter, Mr. Naft
shall be eligible to receive cash incentive compensation as determined annually by the Chief Executive Officer and the Board of
Directors. Mr. Naft&rsquo;s target annual incentive compensation shall be 50% of his base salary.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">As set forth in the Naft Agreement, Mr. Naft&rsquo;s employment
is at will, with no specific end date, though in the case of termination without cause then (i) the Company shall pay Mr. Naft
an amount equal to 50% of the sum of the base salary plus a pro-rata portion of the incentive bonus for the year, to be paid at
the usual time bonuses are paid, (ii) all stock options and other stock-based awards held by Mr. Naft which would have vested
if employment had continued for six (6) additional months will vest and become exercisable or non-forfeitable, (iii) if Mr. Naft
was participating in the Company&rsquo;s group health plan immediately prior to the date of termination and he elects COBRA health
continuation, then the Company shall pay to Mr. Naft a monthly cash payment for six (6) months or Mr. Naft&rsquo;s COBRA health
continuation period, whichever ends earlier, in an amount equal to the monthly employer contribution that the Company would have
made to provide health insurance to Mr. Naft if he had remained employed by the Company, and (iv) the amounts payable according
to this provision shall be paid out in substantially equal installments in accordance with the Company&rsquo;s payroll practice
over six (6) months commencing within 60 days after the date of termination; provided, however, that if the 60-day period begins
in one calendar year and ends in a second calendar year, the Severance Amount shall begin to be paid in the second calendar year
by the last day of such 60-day period; provided, further, that the initial payment shall include a catch-up payment to cover amounts
retroactive to the day immediately following the date of termination. If Mr. Naft is terminated without cause within the 12 months
following a change in control, then, in lieu of the prior payments referenced, then (i) the Company shall pay Mr. Naft an amount
equal to 75% of sum of his base salary plus a pro-rata portion of the incentive bonus for the year, at the usual time bonuses
are paid, (ii) all stock options and other stock-based awards held by Mr. Naft which would have vested if employment had continued
for nine (9) additional months will vest and become exercisable or non-forfeitable, (iii) if Mr. Naft was participating in the
Company&rsquo;s group health plan immediately prior to the date of termination and he elects COBRA health continuation, then the
Company shall pay to Mr. Naft a monthly cash payment for six (6) months or Mr. Naft&rsquo;s COBRA health continuation period,
whichever ends earlier, in an amount equal to the monthly employer contribution that the Company would have made to provide health
insurance to Mr. Naft if he had remained employed by the Company, and (iv) the amounts payable according to this provision shall
be paid out in substantially equal installments in accordance with the Company&rsquo;s payroll practice over nine (9) months commencing
within 60 days after the date of termination; provided, however, that if the 60-day period begins in one calendar year and ends
in a second calendar year, the Severance Amount shall begin to be paid in the second calendar year by the last day of such 60-day
period; provided, further, that the initial payment shall include a catch-up payment to cover amounts retroactive to the day immediately
following the date of termination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Davie
Mendelsohn: </B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the Letter of Employment, dated October 28, 2013, as amended and supplemented on January 4, 2015 and June 8, 2015, between
Davie Mendelsohn and the Company (the &ldquo;Mendelsohn Letter&rdquo;), Ms. Mendelsohn agreed to join the Company as Vice President
&ndash; Sales and Clinical Services. As set forth in the Mendelsohn Letter, Ms. Mendelsohn&rsquo;s employment is at will, with
no specific end date, and her compensation plan for 2015 consisted of the base salary of $10,000 per month, with a quarterly incentive
bonus of $20,000 based on achieving the Company&rsquo;s business plan goals for the 2015 year.</FONT></P>













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

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

<!-- Field: Page; Sequence: 63; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">As of January 1, 2016, Ms. Mendelsohn&rsquo;s base salary
was set at $5,000 per month, and she was eligible for a one-time special bonus, payable in connection with our next financing
or a sale of our company, equal to the difference between $10,000 and $5,000, times the number of months that she is paid $5,000
per month prior to the payment of the special bonus. In September 2016, Ms. Mendelsohn&rsquo;s base salary was increased to $10,000
per month.&nbsp;The Company will also pay any earned incentive compensation upon raising additional capital.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Pursuant to the Mendelsohn Letter, Ms. Mendelsohn was granted
25,000 options to purchase Common Stock when hired in 2013, with 25% vesting after 1 year, and the rest vesting ratably on a monthly
basis over the following 36 months.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Ms. Mendelsohn was granted an additional 4,063 stock options
in 2016 under the 2014 Plan.</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">On December 23, 2016, the Company and Ms. Mendelsohn entered
into a new employment agreement which replaced the Mendelsohn Letter (the &ldquo;Mendelsohn Agreement&rdquo;), pursuant to which
Ms. Mendelsohn agreed to serve the Company as Vice President of Sales and Clinical Services. Upon consummation of this Offering,
Ms. Mendelsohn&rsquo;s initial annual base salary shall be increased to $140,000. This base salary shall be determined annually
by the Chief Executive Officer of the Company. During the term, Ms. Mendelsohn shall be eligible to receive cash incentive compensation
as determined annually by the Chief Executive Officer and the Board of Directors. Ms. Mendelsohn&rsquo;s target annual incentive
compensation shall be $100,000. The actual amount of the annual incentive compensation for each fiscal year will be determined
by the CEO and the Board and will be based upon Ms. Mendelsohn and the Company meeting certain reasonable strategic, sales, operational,
and financial goals and targets established by the Board.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">As set forth in the Mendelsohn Agreement, Ms. Mendelsohn&rsquo;s
employment is at will, with no specific end date, though in the case of termination without cause then (i) the Company shall pay
Ms. Mendelsohn an amount equal to 50% of the sum if the base salary plus a pro-rata portion of the incentive bonus for the year,
to be paid at the usual time bonuses are paid, (ii) all stock options and other stock-based awards held by Ms. Mendelsohn which
would have vested if employment had continued for six additional months will vest and become exercisable or non-forfeitable, (iii)
if Ms. Mendelsohn was participating in the Company&rsquo;s group health plan immediately prior to the date of termination and
she elects COBRA health continuation, then the Company shall pay to Ms. Mendelsohn a monthly cash payment for six (6) months or
Ms. Mendelsohn&rsquo;s COBRA health continuation period, whichever ends earlier, in an amount equal to the monthly employer contribution
that the Company would have made to provide health insurance to Ms. Mendelsohn if she had remained employed by the Company, and
(iv) the amounts payable according to this provision shall be paid out in substantially equal installments in accordance with
the Company&rsquo;s payroll practice over six (6) months commencing within 60 days after the date of termination; provided, however,
that if the 60-day period begins in one calendar year and ends in a second calendar year, the Severance Amount shall begin to
be paid in the second calendar year by the last day of such 60-day period; provided, further, that the initial payment shall include
a catch-up payment to cover amounts retroactive to the day immediately following the date of termination. If Ms. Mendelsohn is
terminated without cause within the 12 months following a change in control, then, in lieu of the prior payments referenced, then
(i) the Company shall pay Ms. Mendelsohn an amount equal to 75% of sum of her base salary plus a pro-rata portion of her bonus
for the year of her employment termination, at the usual time bonuses are paid, (ii) all stock options and other stock-based awards
held by Ms. Mendelsohn which would have vested if employment had continued for nine additional months will vest and become exercisable
or non-forfeitable, (iii) if Ms. Mendelsohn was participating in the Company&rsquo;s group health plan immediately prior to the
date of termination and she elects COBRA health continuation, then the Company shall pay to Ms. Mendelsohn a monthly cash payment
for six (6) months or Ms. Mendelsohn&rsquo;s COBRA health continuation period, whichever ends earlier, in an amount equal to the
monthly employer contribution that the Company would have made to provide health insurance to Ms. Mendelsohn if she had remained
employed by the Company, and (iv) the amounts payable according to this provision shall be paid out in substantially equal installments
in accordance with the Company&rsquo;s payroll practice over nine (9) months commencing within 60 days after the date of termination;
provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the Severance Amount
shall begin to be paid in the second calendar year by the last day of such 60-day period; provided, further, that the initial
payment shall include a catch-up payment to cover amounts retroactive to the day immediately following the date of termination.</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Management Incentive Plan:</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Pursuant to the Company&rsquo;s Management Incentive Plan,
dated June 8, 2015, Paul Gudonis, Davie Mendelsohn, and Jonathan Naft are each entitled to a 25% portion of a Bonus Pool to be
created upon the occurrence of a change in control. To be eligible for the bonus, each executive must still be employed by (or
performing services to) Myomo, or must have been terminated without cause within two months prior to the change in control.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">For the purposes of the Management Incentive Plan, a change
in control shall mean (i) the dissolution or liquidation of the Company, (ii) the sale of all or substantially all of the assets
of the Company on a consolidated basis to an unrelated person or entity, (iii) a merger, reorganization or consolidation pursuant
to which the holders of the Company&rsquo;s outstanding voting power immediately prior to such transaction do not own a majority
of the outstanding voting power of the surviving or resulting entity (or its ultimate parent, if applicable), (iv) the acquisition
of all or a majority of the outstanding voting stock of the Company in a single transaction or a series of related transactions
by a person or group of persons, or (v) any other acquisition of the business of the Company, as determined by the Board; <I>provided,
however</I>, that a merger effected solely to change the Company&rsquo;s domicile shall not constitute a &ldquo;change in control.&rdquo;</P>



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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Cash Incentive Bonus to Employee:</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">The Company has agreed to pay one employee a cash incentive
bonus equal to $300,000 upon the completion of a merger, acquisition or initial public offering. Such cash incentive bonus is
only payable to the extent such employee remains with the Company through the completion of such event.</P>

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

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

<!-- Field: Page; Sequence: 64; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Equity
Compensation Plan Information</FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Outstanding
Equity Awards at Year End</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The following table summarizes outstanding unexercised options,
unvested stocks and equity incentive plan awards held by each of our Named Executive Officers, as of December 31, 2016:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1.5pt; text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD COLSPAN="15" STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>OPTION
                                         AWARDS</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="13" STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>STOCK
    AWARDS</B></FONT> </TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">Name</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">Grant
    Dates</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Number
                                         of</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Securities</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Underlying</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Unexercised</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Options</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Exercisable</B></FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Number
                                         of</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Securities</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Underlying</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Unexercised</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Options</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Unexercisable</B></FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Equity
                                         Incentive</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Plan
                                         Awards:</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Number
                                         of</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Securities</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Underlying</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Unexercised,</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Unearned</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Options</B></FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Option</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Exercise</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Prices</B></FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">Option</FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">Expiration</FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">Dates</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Number
                                         of</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Shares
                                         or</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Units
                                         of</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Stock
                                         That</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Have
                                         Not</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Vested</B></FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Market</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Value
                                         of</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Shares
                                         or</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Units
                                         of</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Stock
                                         That</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Have
                                         Not</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Vested</B></FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Equity</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Incentive
                                         Plan</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Awards:</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Number
                                         of</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Unearned</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Shares,
                                         Units</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>or
                                         Other</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Rights
                                         That</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Have
                                         Not</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Vested</B></FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Equity
                                         Incentive</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Plan
                                         Awards:</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Market
                                         or Payout</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Value
                                         of Unearned</B></FONT><BR>
                                         <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Shares,
                                         Units or</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Other
                                         Rights That</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%"><B>Have
                                         Not vested</B></FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 14%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">Paul&nbsp;R.&nbsp;Gudonis</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">3/18/2015</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 3,255 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 17,578 </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">$</FONT> </TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">0.0016</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">3/18/2025</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">6/29/2016</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">6,250</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">$</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><P STYLE="margin: 0"> 1.0496 </P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">6/29/2026</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">Steve
    Kelly</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">5/1/2009</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">7,956</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">$</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">0.0016</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">5/1/2019</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">2/10/2010</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">24,218</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">$</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">0.36768</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">2/10/2020</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">2/10/2010</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">16,145</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">$</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">0.36768</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">2/10/2020</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">6/29/2016</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">6,250</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">$</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><P STYLE="margin: 0"> 1.0496 </P>


</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">6/29/2026</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">Jonathan
    Naft</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">7/18/2012</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 6,250 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">$</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">0.16</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">7/18/2022</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">9/25/2013</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,166 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 3,898 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">$</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">0.0016</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">9/25/2023</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">6/29/2016</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">2,500</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">$</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><P STYLE="margin: 0"> 1.0496 </P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">6/29/2026</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">Davie&nbsp;Mendelsohn</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">12/9/2013</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,605 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 6,250 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">$</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">0.0016</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">12/9/2023</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">6/29/2016</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"> 2,500 </P>


</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> <P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"></P>


</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">$</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><P STYLE="margin: 0"> 1.0496 </P>


</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; line-height: 115%">6/29/2026</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">-</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">&nbsp;</FONT> </TD></TR>
</TABLE>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-style: normal"><B>2014
Stock Option and Grant Plan</B></FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-style: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In September
2014, the Company established the 2014 Stock Option and Grant Plan (the &ldquo;2014 Plan&rdquo;) and suspended the granting of
any new stock awards under the 2004 Stock Option and Incentive Plan (the &ldquo;2004 Plan&rdquo; and together with the 2014 Plan,
the &ldquo;Stock Plans&rdquo;), which was established in November 2004. Under the terms of the Stock Plans, incentive stock options
(&ldquo;ISOs&rdquo;) may be granted to officers and employees and non-qualified stock options and awards may be granted to directors,
consultants, officers and employees of the Company. The exercise price of ISOs cannot be less than the fair market value of the
Common Stock on the date of grant. The options vest over a period determined by the Board of Directors, generally four years,
and expire not more than ten years from the date of grant.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2016
Equity Incentive Plan</B></FONT></P>

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


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">On October 25, 2016, the Board of Directors approved the
2016 Equity Incentive Plan (the &ldquo;2016 Plan&rdquo;) and recommended that our stockholders consider the 2016 Plan and approve
its adoption, effective as of the date that the Company completes this Offering. Upon effectiveness of the 2016 Plan, no additional
awards will be granted under the Company&rsquo;s prior equity incentive plans. We have reserved 562,500 shares of our Common Stock
for issuance under the 2016 Plan. Participation in the 2016 Plan will continue until all of the benefits to which the participants
are entitled have been paid in full.</P>




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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Description
of Awards under the 2016 Plan</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I><U>Awards
to Company Employees</U>.</I> Under the 2016 Plan, the compensation committee, which will administer the plan (the &ldquo;Committee&rdquo;),
may award to eligible employees incentive and nonqualified stock options, stock appreciation rights, restricted stock, restricted
stock units, performance units and performance shares.&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I><U>Awards
to Non-Employees</U>.</I> The Committee may award to non-employees, including non-employee directors, non-qualified stock options,
SARs, restricted stock and restricted stock units.</FONT></P>

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

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

<!-- Field: Page; Sequence: 65; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Stock
Options</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Committee
has discretion to award incentive stock options (&ldquo;ISOs&rdquo;), which are intended to comply with Section 422 of the Code,
or nonqualified stock options (&ldquo;NQSOs&rdquo;), which are not intended to comply with Section 422 of the Code. The exercise
price of an option may not be less than the fair market value of the underlying shares of Common Stock on the date of grant. The
2016 Plan defines &ldquo;fair market value&rdquo; as the closing sale price at which shares of our Common Stock have been sold
regular way on the principal securities exchange on which the shares are traded or, if there is no such sale on the relevant date,
then on the last previous day on which there was such a sale. If an award of stock options is intended to qualify as performance-based
compensation under Section 162(m) of the Code, the maximum number of shares which may be subject to stock options granted in any
calendar year to any one participant who is a &ldquo;covered employee&rdquo; is 250,000.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Options
granted to employees under the 2016 Plan will expire at such times as the Committee determines at the time of the grant; provided,
however, that no option will be exercisable later than ten years after the date of grant. Each option award agreement will set
forth the extent to which the participant will have the right to exercise the option following termination of the participant&rsquo;s
employment with the Company. The termination provisions will be determined within the discretion of the Committee, might not be
uniform among all participants and might reflect distinctions based on the reasons for termination of employment. Notwithstanding
the preceding sentences, unless the terms of the award agreement otherwise provide for a shorter exercise period, ISOs must be
exercised within three months after an employee&rsquo;s termination of employment. However, if the termination is due to disability
(as defined under Code Section 22(e)(3)), the ISOs must be exercised within one year after an employee&rsquo;s termination of
employment. If the termination is due to death, the ISOs may be exercised at any time during the option term. Subject to the specific
terms of the 2016 Plan, the Committee will have discretion to set such additional limitations on such grants as it deems appropriate.
The award agreement will reflect these limitations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon the
exercise of an option granted under the 2016 Plan, the option price is payable in full to the Company, either: (a) in cash or
its equivalent, (b) if permitted in the award agreement, by tendering shares having a fair market value at the time of exercise
equal to the total option price (provided that such shares have been held by the optionee for at least six months prior to their
tender) or (c) by any combination of the foregoing methods of payment. The Committee may also allow options granted under the
2016 Plan to be exercised by a cashless exercise through a broker, as permitted under Federal Reserve Board Regulation T, or any
other means the Committee determines to be consistent with the 2016 Plan&rsquo;s purpose and applicable law, including by cashless
exercise directly with the Company whereby the Company, following its receipt of the participant&rsquo;s notice of exercise, would
withhold the proper number of Company shares which would have a fair market value on the date of exercise equal to the option
exercise price.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Stock
Appreciation Rights</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Committee
may award stock appreciation rights (&ldquo;SARs&rdquo;) under the 2016 Plan upon such terms and conditions as it may establish.
At the discretion of the Committee, the payment upon SAR exercise may be in cash, in shares of Company Common Stock of equivalent
value, or in some combination thereof. The Committee&rsquo;s determination regarding the form of payment for the exercised SAR
will be set forth in the award agreement. The Committee may award either (i) freestanding SARs, which are SARs granted as an independent
instrument and are not granted in conjunction with any stock options, or (ii) SARs in tandem with stock options (a &ldquo;tandem
SAR&rdquo;). A tandem SAR entitles the participant to exercise it as an option or as an SAR. The election of one type of exercise
prevents it from being exercised as the other type. A tandem SAR may not be granted to a non-employee Director unless the related
option is a NQSO. The exercise price of a freestanding SAR will equal the fair market value of a share of Common Stock on the
date of grant, whereas the exercise price of a tandem SAR issued in connection with a stock option will equal the option price
of the related option. If an award of SARs is intended to qualify as performance-based compensation under Section 162(m) of the
Code, the maximum number of shares which may be subject to SARs awarded in any calendar year to any one participant who is a &ldquo;covered
employee&rdquo; is 250,000.</FONT></P>

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

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

<!-- Field: Page; Sequence: 66; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Committee
will determine in its discretion the term of an SAR granted under the 2016 Plan. Each award agreement will set forth the extent
to which the participant will have the right to exercise the SAR following termination of the participant&rsquo;s employment with
the Company. The termination provisions will be determined by the Committee in its sole discretion, need not be uniform among
all participants and may reflect distinctions based on the reasons for termination of employment. The term of an SAR may not exceed
ten years from the date of grant. Therefore, no SAR may be exercisable later than ten years after the date of award.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Except
as otherwise limited by the 2016 Plan, freestanding SARs may be exercised upon whatever terms and conditions the Committee, in
its sole discretion, imposes upon them. The Committee will determine the number of shares of Common Stock covered by and the exercise
period of the SAR. Upon exercise of a freestanding SAR, the participant will receive an amount equal to the excess of the fair
market value of one share of Common Stock on the date of exercise over the grant price, multiplied by the number of shares of
stock exercised under the SAR.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the
case of a tandem SAR, the Committee may determine the exercise period of the SAR, except that the exercise period may not exceed
that of the related option. The participant may exercise the tandem SAR when the option is exercisable and receive on exercise
an amount equal to the excess of the fair market value of one share of Common Stock on the date of exercise over the option purchase
price, multiplied by the number of shares of stock covered by the surrendered option. Upon exercise of an SAR awarded in tandem
with a stock option, the number of shares of our Common Stock for which the related option was exercisable will be reduced by
the number of shares for which the SAR was exercised.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding
any other provision of this 2016 Plan to the contrary, with respect to a tandem SAR granted in connection with an ISO (i) the
tandem SAR will expire no later than the expiration of the underlying ISO; (ii) the value of the payout with respect to the tandem
SAR may be for no more than 100% of the difference between the option price of the underlying ISO and the fair market value of
the shares subject to the underlying ISO at the time the tandem SAR is exercised; and (iii) the tandem SAR may be exercised only
when the fair market value of the shares subject to the ISO exceeds the option price of the ISO.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Restricted
Stock</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Committee
may impose restrictions and conditions as to awards of shares of restricted stock as it deems advisable. As specified in the relevant
award agreement, restrictions may include a requirement that participants pay a stipulated purchase price for each share of restricted
stock, restrictions based upon the achievement of specific performance goals (Company-wide, divisional and/or individual), time-based
restrictions on vesting following the attainment of the performance goals and/or restrictions under applicable federal or state
securities laws.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We may
retain in our possession the certificates representing shares of restricted stock until the time when all conditions and/or restrictions
applicable to those shares awarded under the 2016 Plan have been satisfied. Generally, shares of restricted stock covered by each
restricted stock grant made under the 2016 Plan will become freely transferable by the participant following the last day of the
applicable period of restriction. However, even after the satisfaction of the restrictions and conditions imposed by the 2016
Plan and the particular award agreement, shares owned by an affiliate of the Company will be subject to restrictions on transfer
under the Securities Act of 1933, as amended.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I><U>Awards
to Employees</U>.</I> The Committee may choose to award shares of restricted stock under the 2016 Plan upon such terms and conditions
as it may establish. If an award of restricted stock is intended to qualify as performance-based compensation under Section 162(m)
of the Code, the maximum number of shares which may be granted in the form of restricted stock in any one calendar year to any
one participant who is a &ldquo;covered employee&rdquo; is 250,000. The award agreement will specify the period(s) of restriction,
the number of shares of restricted stock granted, requirements that a participant pay a stipulated purchase price for each share,
restrictions based upon the achievement of specific performance objectives, other restrictions governing the subject award and/or
restrictions under applicable federal or state securities laws. Recipients may have the right to vote these shares from the date
of grant, as determined by the Committee on the date of award. As determined by the Committee on the date of award, participants
may receive dividends on their shares of restricted stock. Dividends accrued on restricted stock will be paid only if the restricted
stock vests.</FONT></P>

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

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

<!-- Field: Page; Sequence: 67; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each award
agreement for restricted stock will specify the extent to which the participant will have the right, if any, to retain unvested
restricted stock following termination of the participant&rsquo;s employment with the Company. In its sole discretion, the Committee
will make these determinations; these provisions need not be uniform among all awards of restricted stock issued under the 2016
Plan and may reflect distinctions based on reasons for termination of employment. Except in the case of terminations by reason
of death or disability, restricted stock, which is intended to qualify for performance-based compensation under Section 162(m)
and which is held by &ldquo;covered employees&rdquo; under Section 162(m), will be forfeited by the participant to the Company
upon termination of employment.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I><U>Awards
to Non-Employee Directors</U>.</I> Restricted stock awards to non-employee Directors will be subject to the restrictions for a
period (the &ldquo;Restricted Period&rdquo;), which will commence upon the date when the restricted stock is awarded and will
end on the earliest of the first to occur of the following:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         retirement of the non-employee Director from the Board in compliance with the Board&rsquo;s
                                         retirement policy as then in effect;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         termination of the non-employee Director&rsquo;s service on the Board as a result of
                                         the non-employee Director&rsquo;s not being nominated for reelection by the Board;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         termination of the non-employee Director&rsquo;s service on the Board because of the
                                         non-employee Director&rsquo;s resignation or failure to stand for reelection with the
                                         consent of the Board (which means approval by at least 80% of the Directors voting, with
                                         the affected non-employee Director abstaining);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         termination of the non-employee Director&rsquo;s service on the Board because the non-employee
                                         Director, although nominated for reelection by the Board, is not reelected by the stockholders;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><P STYLE="margin: 0">the
                                         termination of the non-employee Director&rsquo;s service on the Board because of (i)
                                         the non-employee Director&rsquo;s resignation at the request of the Nominating and Governance
                                         Committee of the Board, (ii) the non-employee Director&rsquo;s removal by action of the
                                         stockholders or by the Board, or (iii) a <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">change
                                         in control of the Company, as defined in the 2016 Plan;</FONT></P>


</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         termination of the non-employee Director&rsquo;s service on the Board because of disability
                                         or death; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         vesting of the award.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">As of
the date specified by the Committee, each non-employee Director will be awarded that number of shares of restricted stock as determined
by the Board, after consideration of the recommendations of the Committee. A non-employee Director who is first elected to the
Board on a date subsequent to the date so specified will be awarded that number of shares of restricted stock as determined by
the Board, after consideration of the recommendations of the Committee. The amount of the award for the upcoming 2016 Plan year
will be disclosed in the Company&rsquo;s proxy statement for the Company&rsquo;s annual meeting of stockholders. The 2016 Plan
provides that non-employee Directors receiving restricted stock may have, subject to the provisions of the 2016 Plan, all of the
rights of a stockholder with respect to the shares of restricted stock, including the right to vote the shares and receive cash
dividends and other cash distributions thereon. If a non-employee Director ceases to be a member of the Board for any other reason,
including removal or resignation for &ldquo;Cause,&rdquo; as defined in the 2016 Plan, the non-employee Director will forfeit
to the Company all restricted stock awarded to him or her for which the Restricted Period has not ended.</FONT></P>

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

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

<!-- Field: Page; Sequence: 68; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Restricted
Stock Units</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Committee
may award restricted stock units (&ldquo;RSUs&rdquo;). Each RSU will have a value equal to the fair market value of a share of
the Company&rsquo;s Common Stock on the date of grant. The maximum aggregate award of RSUs to any one participant who is a &ldquo;covered
employee&rdquo; during any one fiscal year will be equal to the fair market value of 250,000 shares; provided, further, that the
maximum aggregate award of restricted stock and RSUs for any one fiscal year will be coordinated so that in no event will any
one participant be awarded more than the fair market value of 250,000 shares taking into account all such awards. In its discretion,
the Committee may impose conditions and restrictions on RSUs, as specified in the RSU award agreement, including restrictions
based upon the achievement of specific performance goals and time-based restrictions on vesting. As determined by the Committee
at the time of the award, settlement of vested RSUs may be made in the form of cash, shares of Company stock, or a combination
of cash and Company stock. Settlement of vested RSUs will be in a lump sum as soon as practicable after the vesting date. The
amount of the settlement will equal the fair market value of the RSUs on the vesting date. Each RSU will be credited with an amount
equal to the dividends paid on a share of Company stock between the date of award and the date the RSU is paid to the participant,
if at all. Dividend equivalents will vest, if at all, upon the same terms and conditions governing the vesting of the RSUs under
the 2016 Plan. Payment of the dividend equivalent will be paid at the same time as payment of the RSU. The holders of RSUs will
have no voting rights.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each award
agreement for RSUs will specify the extent to which the participant will have the right, if any, to retain unvested RSUs following
termination of the participant&rsquo;s employment with the Company or, in the case of a non-employee Director, service with the
Board. In its sole discretion, the Committee will make these determinations; these provisions need not be uniform among all awards
of RSUs issued under the 2016 Plan and may reflect distinctions based on reasons for termination of employment or, in the case
of a non-employee Director, service with the Board. Except in the case of terminations by reason of death or disability, RSUs
awarded to participants who are &ldquo;covered employees&rdquo; and which are intended to qualify as performance-based compensation
under Section 162(m), will be forfeited by the participant to the Company.</FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Performance
Units/Performance Shares</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Committee
has the discretion to award performance units and performance shares under the 2016 Plan upon such terms and conditions as it
may establish, as evidenced in the relevant award agreement. If an award of performance units or performance shares is intended
to qualify as performance-based compensation under Section 162(m) of the Code, the maximum aggregate payout for awards of performance
shares which may be granted in any one calendar year to any one participant who is a &ldquo;covered employee&rdquo; will be the
fair market value of 250,000 shares, whereas the maximum aggregate payout for awards of performance units which may be granted
in any one calendar year to any one participant will be $1,500,000. Performance units will have an initial value as determined
by the Committee, whereas performance shares will have an initial value equal to one share of Common Stock on the date of award.
At the time of the award of the performance units or shares, the Committee in its discretion will establish performance goals
which, depending on the extent to which they are met, will determine the number and/or value of performance units or shares that
will be paid out to the participant. Under the terms of the 2016 Plan, after the applicable performance period has ended, the
holder of performance units or shares will be entitled to receive payout on the number and value of performance units or shares
earned by the participant over the performance period. The payout on the number and value of the performance units and performance
shares will be a function of the extent to which corresponding performance goals are met.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Payment
of performance shares and performance units will be made in a single lump sum following the close of the applicable performance
period. Upon satisfaction of the specified performance goals, the Committee will pay the earned performance shares in shares of
Company Common Stock. In its discretion, the Committee may pay earned performance units in cash, in shares of Company stock or
in a combination of cash and stock, which will have an aggregate fair market value equal to the value of the earned performance
share or performance unit at the close of the applicable performance period. Participants will not be entitled to dividend or
voting rights with respect to any performance shares or performance units earned but not yet distributed to a participant. Unless
otherwise determined by the Committee, in the case of death or disability during the performance period, the participant, or his
or her estate, will not be entitled to receive any payout of the performance shares or performance units. In the case of any other
termination of the participant&rsquo;s employment during the performance period, all performance shares and performance units
intended to qualify as performance-based compensation will be forfeited by the participant.</FONT></P>

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

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

<!-- Field: Page; Sequence: 69; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Adjustment
and Amendments</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The 2016
Plan provides for appropriate adjustments in the number of shares of Company stock subject to awards and available for future
awards in the event of changes in outstanding Common Stock by reason of a merger, stock split, stock dividend, or certain other
events.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The 2016
Plan may be modified or amended by the board at any time and for any purpose which the Board deems appropriate. However, no such
amendment may adversely affect any outstanding awards without the affected holder&rsquo;s consent. No amendment may, without stockholder
approval, (i) materially increase the benefits earned by participants under the 2016 Plan, (ii) materially increase the number
of shares which may be issued under the 2016 Plan or (iii) materially modify the requirements for participation in the 2016 Plan.</FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Change
in Control</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the
event of a change in control, as defined in the 2016 Plan, generally all options and SARs granted under the 2016 Plan will become
immediately exercisable; and restriction periods and other restrictions imposed on restricted stock and RSUs which are not intended
to qualify as performance-based compensation under Section 162(m) under the Code will lapse. Any award intended to qualify as
performance-based under Section 162(m) must be earned in accordance with the applicable award agreement.</FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Non-transferability</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">No award
under the 2016 Plan may be sold, transferred, pledged, assigned or otherwise transferred in any manner by a participant except
by will or by the laws of descent and distribution; and any award will be exercisable during a participant&rsquo;s lifetime only
by the participant or by the participant&rsquo;s guardian or legal representative. These limitations may be waived by the Committee,
subject to restrictions imposed under the SEC&rsquo;s short-swing trading rules and federal tax requirements relating to incentive
stock options.</FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Duration
of the 2016 Plan</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The 2016
Plan will remain in effect until all shares subject to the 2016 Plan have been purchased or acquired under the terms of the 2016
Plan, and all performance periods for performance-based awards granted under the 2016 Plan have been completed. However, no award
is permitted to be granted under the 2016 Plan on or after the day prior to the tenth anniversary of the date the board approved
the 2016 Plan. The board, upon recommendation of the Committee, may at any time amend, suspend or terminate the 2016 Plan in whole
or in part for any purpose the Committee deems appropriate, subject, however, to the limitations referenced in &ldquo;Adjustment
and Amendments,&rdquo; above.</FONT></P>

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

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

<!-- Field: Page; Sequence: 70; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Securities
Authorized for Issuance under Equity Compensation Plans</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The following table provides a summary of the securities authorized
for issuance under our equity compensation plans as of December 31, 2016.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Plan
    category</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
    of securities to be issued upon exercise of outstanding options, warrants and rights</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted-average
    exercise price of outstanding options, warrants and rights</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
    of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column
    (a))</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equity
    compensation plans approved by security holders:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016
    Equity Incentive Plan</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">560,907</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 64%; font: 10pt Times New Roman, Times, Serif; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2014
                                         Stock Option and Grant Plan</FONT></P></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">130,483</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.7759</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004
    Stock Option and Incentive Plan</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">115,861</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.2175</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equity
    compensation plans not approved by security holders</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">246,344</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.5133</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">560,907</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>



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

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">On July 31, 2016, the Company&rsquo;s Board of Directors
approved an amendment to its 2014 Plan to increase the amount of shares issuable pursuant to awards under such plan to 899,549
shares. The Company&rsquo;s stockholders approved such amendment on August 23, 2016.</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">On October 25, 2016, the Board of Directors approved the
2016 Plan and recommended that our stockholders consider the 2016 Plan and approve its adoption, effective as of the date that
the Company completes this Offering. Upon effectiveness of the 2016 Plan, no additional awards will be granted under the Company&rsquo;s
prior equity incentive plans. We have reserved 562,500 shares of our Common Stock for issuance under the 2016 Plan. Participation
in the 2016 Plan will continue until all of the benefits to which the participants are entitled have been paid in full.</P>



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





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

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

<!-- Field: Page; Sequence: 71; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Compensation
of Director</FONT></P>

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">The following table presents the total compensation for each person who
served as a member of our Board of Directors during the year ended December 31, 2016. Other than as set forth in the table and
described more fully below, in the year ended December 31, 2016 we did not pay any fees to, make any equity awards to, or pay
any other compensation to the members of our Board of Directors who served as members during such year. Mr. Gudonis does not,
and Mr. Kelly did not prior to his resignation, receive compensation for service as a director. Total compensation for Messrs.
Gudonis and Kelly for services as employees is presented in &ldquo;Executive Compensation&mdash;Summary Compensation Table&rdquo;
above.</P>



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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 16%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif;  text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif;  text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Fees</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Earned or</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Paid in</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Cash</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif;  text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Stock</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Awards</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif;  text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Option</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Awards (1)</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif;  text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Non-Equity</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Incentive Plan</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Compensation</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif;  text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Change
    in</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pension Value</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>and</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Nonqualified</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Deferred</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Compensation</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Earnings</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif;  text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>All
    Other</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Compensation</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif;  text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thomas&nbsp;A.&nbsp;Crowley,&nbsp;Jr.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,832</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,832</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thomas
    F. Kirk</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,832</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,832</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amy
    Knapp(2)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><P STYLE="margin: 0">6,832</P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,832</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steve
    Sanghi(3)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><P STYLE="margin: 0">6,832</P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><P STYLE="margin: 0">6,832</P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Byron
    Smith (4)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE=" font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Calibri,sans-serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="font-family: Calibri,sans-serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Amounts
    reflect the aggregate grant date fair value of stock options awarded to the director in the years ended December 31, 2016,and
    2015, as applicable, using the Black-Scholes option-pricing model in accordance with FASB ASC Topic 718. Such grant date fair
    values do not take into account any estimated forfeitures related to service-vesting conditions. The assumptions used in calculating
    the grant date fair value of the stock options reported in this column are set forth in the Notes to our Financial Statements
    included elsewhere in this prospectus. These amounts are not the actual value that the director &nbsp;may realize upon exercise
    of these stock options.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Calibri,sans-serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="font-family: Calibri,sans-serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Ms.
    Knapp joined the Board of Directors on July 2016.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Calibri,sans-serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="font-family: Calibri,sans-serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Mr.
    Sanghi joined the Board of Directors in October 2016.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.35in; font-family: Calibri,sans-serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="font-family: Calibri,sans-serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Mr.
    Smith resigned from our Board of Directors effective July 20, 2016.</FONT></TD></TR>
</TABLE>


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

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

<!-- Field: Page; Sequence: 72; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><A NAME="a_013"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">CERTAIN
RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> The Company sells its products to GRE, an orthotics and
prosthetics practice, whose ownership includes Jonathan Naft, a stockholder and employee of the Company. Sales to GRE during 2014,
2015 and 2016 amounted to approximately $64,800, $0 and $49,100, respectively. </P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> The Company also obtains consulting and fabrication services
from GRE. Charges for these services amounted to approximately $36,200. $186,400 and $156,900 during 2014, 2015 and 2016, respectively.
Included in accounts payable and accrued expenses at December 31, 2016, 2015 and 2014 is $6,600, $12,900 and $4,500, respectively,
due to the related party. </P>



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Series B-1 Preferred Stock Financing</B></P>

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

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Between July and December 2015, we sold an aggregate
of 30,906 shares of our Series B-1 Preferred Stock to Paul Gudonis for gross cash proceeds equal to $152,596 and, pursuant to
the terms of such transaction, Mr. Gudonis exchanged 26,583 shares of Series A-1 Preferred Stock for 26,583 shares of Series B-1
Preferred Stock. </P>





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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Between July and September 2014, we sold an aggregate of
20,255 shares of our Series B-1 Preferred Stock to Stephen Kelly for gross cash proceeds equal to $100,000 and, pursuant to the
terms of such transaction, Mr. Kelly exchanged 26,583 shares of Series A-1 Preferred Stock for 26,583 shares of Series B-1 Preferred
Stock.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Between July and September 2014, we sold an aggregate of
9,646 shares of our Series B-1 Preferred Stock to Thomas Kirk for gross cash proceeds equal to $47,624 and, pursuant to the terms
of such transaction, Dr. Kirk exchanged 12,660 shares of Series A-1 Preferred Stock for 12,660 shares of Series B-1 Preferred
Stock.</P>

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Between July and December 2015, we sold an aggregate
of 5,885 shares of our Series B-1 Preferred Stock to Jonathan Naft for gross cash proceeds equal to $29,069 and, pursuant to the
terms of such transaction, Mr. Naft exchanged 5,064 shares of Series A-1 Preferred Stock for 5,064 shares of Series B-1 Preferred
Stock. </P>





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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Between July 2014 and December 2015, we sold an aggregate
303,831 shares of our Series B-1 Preferred Stock to MGC Venture Partners 2013, L.P. for gross cash proceeds equal to $1,500,000
and, pursuant to the terms of such transaction, MGC Venture Partners 2013, L.P. exchanged 162,043 shares of Series A-1 Preferred
Stock for 162,043 shares of Series B-1 Preferred Stock. Following this transaction, MGC Venture Partners 2013, L.P. beneficially
owned more than 5% of our outstanding capital stock.</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Between July 2014 and December 2015, we sold an aggregate
154,544 shares of our Series B-1 Preferred Stock to James Attwood Jr. for gross cash proceeds equal to $762,979 and, pursuant
to the terms of such transaction, Mr. Attwood. exchanged 59,583 shares of Series A-1 Preferred Stock for 59,583 shares of Series
B-1 Preferred Stock. Following this transaction, Mr. Attwood beneficially owned more than 5% of our outstanding capital stock. </P>



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Between July 2014 and December 2015, we sold an aggregate
154,544 shares of our Series B-1 Preferred Stock to Pelmea, L.P. for gross cash proceeds equal to $762,979 and, pursuant to the
terms of such transaction, Pelmea L.P. exchanged 69,225 shares of Series A-1 Preferred Stock for 69,225 shares of Series B-1 Preferred
Stock. Following this transaction, Pelmea, L.P. beneficially owned more than 5% of our outstanding capital stock.</P>



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">We have no ongoing obligations under the Series B-1 preferred
stock purchase agreement.</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> <B>Convertible Promissory Notes</B> </P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> In December 2015, Paul Gudonis purchased for cash $100,000
of our Convertible Notes 2015 which he exchanged, along with all the other holders of these notes, for Convertible Notes 2016
in December 2016, </P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> In September 2016, Thomas Kirk purchased for cash $80,000
of our Convertible Notes 2016. </P>

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

<P STYLE="margin: 0"> In October 2016, Steve Singhi purchased for cash $1,000,000 of our Convertible Notes 2016. </P>



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">To the best of our knowledge, during the past three fiscal
years, other than as set forth above, there were no material transactions, or series of similar transactions, or any currently
proposed transactions, or series of similar transactions, to which we were or are to be a party, in which the amount involved
exceeds $120,000 or one percent of the average of our total assets at year end for the last two completed fiscal years and in
which a related person had or will have a direct or indirect material interest, and in which any director or executive officer,
or any security holder who is known by us to own of record or beneficially more than 5% of any class of our Common Stock, or any
member of the immediate family of any of the foregoing persons, has an interest (other than compensation to our officers and directors
in the ordinary course of business).</P>



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

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

<!-- Field: Page; Sequence: 73; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center; text-indent: 0"><A NAME="a_014"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">SECURITY
OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITY HOLDERS</FONT>&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 6pt"> The following table sets forth the total number
and percentage of our shares of Common Stock that were beneficially owned on February 28, 2017 by: (1) each holder of more than
5% of our Common Stock; (2) each director; (3) each Named Executive Officer; and (4) all executive officers and directors as a
group. </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 6pt">Beneficial ownership is determined in accordance with
SEC rules and generally includes voting or investment power with respect to securities. For purposes of this table, a person or
group of persons is deemed to have &ldquo;beneficial ownership&rdquo; of any shares of Common Stock that such person or any member
of such group has the right to acquire within 60 days of December 31, 2016. For purposes of computing the percentage of outstanding
shares of our Common Stock held by each person or group of persons named above, any shares that such person or persons has the
right to acquire within 60 days of December 31, 2016 are deemed to be outstanding for such person, but not deemed to be outstanding
for the purpose of computing the percentage ownership of any other person. The inclusion herein of any shares listed as beneficially
owned does not constitute an admission of beneficial ownership by any person.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Unless otherwise indicated, the business
address of each person listed is c/o Myomo, Inc., One Broadway, 14<SUP>th</SUP> Floor, Cambridge Massachusetts 02142.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Shares
    of Common Stock</FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beneficially Owned Before</FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Offering (1)</FONT> </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Shares
    of Common Stock Beneficially&nbsp;Owned&nbsp;After&nbsp;the </FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Offering
    (Assuming the Maximum Offering Amount is Raised)&nbsp;(2)</FONT> </TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name
    and Address of Beneficial Owner</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Number
    &nbsp; &nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percent</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Number
    &nbsp; &nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percent</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 52%; font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul
    R. Gudonis</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;447,101</FONT> </TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.6</FONT> </TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">447,101</FONT> </TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.7</FONT> </TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan
    Naft</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;76,762</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.6</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">76,762</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Davie
    Mendelsohn</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;24,893</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;*</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24,893</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;*</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thomas
    A. Crowley, Jr.</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;17,214</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;*</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> % </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17,214</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;*</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thomas
    F. Kirk</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;75,264</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.6</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75,264</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amy
    Knapp</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;3,516</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;*</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,516</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;*</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steve
    Sanghi</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;307,505</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.4</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">307,505</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive
    officers and directors as a group (8 persons)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;974,276</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20.6</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">974,276</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.5</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beneficial
    Owners of More than 5% of our Common Stock</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MGC
    Venture Partners 2013, L.P. </FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3835 Cleghorn
    Avenue, Suite 300 </FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nashville, TN 37215</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;674,255</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.4</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">674,255</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steve
    Kelly</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;465.036</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.9</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">465,036</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.9</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James
    Attwood Jr.</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;315,689</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.8</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">315,689</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.7</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pelmea
    LP </FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">121 Columbia Street </FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cambridge,
    MA 02139</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;292,994</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(14)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.3</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">292,994</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sandcastle
    Limited Partnership</FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">c/o Seaport Financial
    Partners LLC</FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">687 Main Street</FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Waltham, MA 02451</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;249,113</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(15)</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.4</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">249,113</FONT> </TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.7</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD></TR>
</TABLE>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">* Less
than 1%&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount includes (i) 1,124,913 shares of Common
    Stock issued and outstanding on February 28, 2017 and on a pro forma basis assumes (i) the conversion of our Convertible Preferred
    Stock into 2,622,187 shares of Common Stock, &nbsp;which conversion was approved by a majority of the holders of the Convertible
    Preferred Stock to occur upon the closing of the Offering, (ii) 812,680 shares of Common Stock issuable upon the automatic
    conversion of convertible promissory notes, in accordance with their terms, and (iii) 84,319 shares of Common Stock issuable
    upon the automatic exchange of 50% a&nbsp;&nbsp;promissory note held of record by a former Named Executive Officers and holder
    of more than 5% of our Common Stock &nbsp;in an amount, including accrued but unpaid interest, of $1,011,825.</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumed amount includes (i)1,124,913 shares
    of Common Stock issued and outstanding on February 28, 2017, and 2,000,000 shares of Common Stock issued in this Offering,
    and on a pro forma basis (ii) 2,622,187 shares of Common Stock to be issued upon the automatic conversion of the Convertible
    Preferred Stock, which conversion was approved by a majority of the holders of the Convertible Preferred Stock to occur upon
    the closing of the Offering, (iii) 812,680 shares of Common Stock issuable upon the automatic conversion of convertible promissory
    notes, in accordance with their terms, and (iv) 84,319 shares of Common Stock issuable upon the automatic exchange of 50%
    a promissory note held of record by a Named Executive Officers and holder of more than 5% of our Common Stock in an amount,
    including accrued but unpaid interest, of $1.011,825. Assumes that the beneficial owner does not purchase any Shares in the
    Offering.</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes (i) 271,328 shares of Common Stock,
    (ii) 14,974 shares of Common Stock issuable upon the exercise of stock options, (iii) 69,726 shares of Common Stock issuable
    upon the automatic conversion of the Series A-1 Preferred Stock, (iv) 57,489 shares of Common Stock issuable upon the automatic
    conversion of the Series B-1 Preferred Stock, (v) 18,251 shares of&nbsp;&nbsp;Common Stock issuable upon the automatic &nbsp;conversion
    of a 2016 subordinated convertible note in an amount, including accrued but unpaid interest, of $109,505 and, (vi) 15,333
    shares of Common Stock issuable upon the exercise of warrants issued in conjunction with a subordinated note. This amount
    does not include 12,109 shares of Common Stock issuable upon the exercise of stock options, which are not exercisable within
    sixty days of February 28, 2017.</FONT> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 74; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 29px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    (i) 48,102 shares of Common Stock, (ii) 12,648 shares of Common Stock issuable upon the exercise of stock options, (iii) 5,063
    shares of Common Stock issuable upon the automatic conversion of the Series A-1 Preferred Stock, and (iv) 10,949 shares of
    Common Stock issuable upon the automatic conversion of the Series B-1 Preferred Stock. This amount does not include 2,166
    shares of Common Stock issuable upon the exercise of stock options, which are not currently exercisable within sixty days
    of February 28, 2017.</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    (i) 17,705 shares of Common Stock, and (ii) 7,188 shares of Common Stock issuable upon the exercise of stock options. This
    amount does not include 4,167 shares of Common Stock issuable upon the exercise of stock options, which are not currently
    exercisable within sixty days of February 28, 2017.</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</FONT> </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    17,214 shares of Common Stock issuable upon the exercise of stock options. This amount does not include 5,468 shares of Common
    Stock issuable upon the exercise of stock options, which are not currently exercisable within sixty days of February 28, 2017.</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    (i) 5,312 shares of Common Stock, (ii) 5,469 shares of Common Stock issuable upon the exercise of stock options, (iii) 12,659
    shares of Common Stock issuable upon the automatic conversion of Series A-1 Preferred Stock, (iv) 27,377 shares of Common
    Stock issuable upon the automatic conversion of Series B-1 Preferred Stock, (v) 13,781 shares of Common Stock &nbsp;issuable
    upon the automatic conversion of a 2016 subordinated convertible note in an amount, including accrued but unpaid interest,
    of $82,684, and (vi) 10,667 shares of Common Stock issuable upon the exercise of warrants issued in&nbsp;&nbsp;conjunction
    with a subordinated convertible note. This amount does not include 5,468 shares of Common Stock issuable upon the exercise
    of stock options, which are not currently exercisable within sixty days of February&nbsp;28, 2017.</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    3,516 shares of Common Stock issuable upon the exercise of stock options. This amount does not include 5,859 shares of Common
    Stock issuable upon the exercise of stock options, which are not currently exercisable within sixty days of December&nbsp;31,
    2017.</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    (i) 2,344 shares of Common Stock issuable upon the exercise of stock options,&nbsp;(ii) 171,828 shares of Common Stock issuable
    upon the automatic conversion of a 2016 subordinated convertible note in an amount, including accrued but unpaid interest,
    of $1,030968, and (iii) 133,333 shares of Common Stock issuable upon the exercise of warrants issued in&nbsp;&nbsp;conjunction
    with a subordinated convertible note. This amount does not include 7,031 shares of Common Stock issuable upon the exercise
    of stock options, which are not currently exercisable within sixty days of February&nbsp;28, 2017.</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="margin: 0"> Includes (i) 351,985 shares of Common Stock,
                                         (ii) 202,786 shares of Common Stock issuable upon the automatic conversion of Series
                                         A-1 Preferred Stock and Series B-1 Preferred Stock, (iii) 203,860 shares of&nbsp;&nbsp;Common
                                         Stock issuable upon the automatic conversion of 2016 subordinated convertible notes in
                                         an amount, including accrued but unpaid interest, of $1,223,158, &nbsp;(iv) 69,759 shares
                                         of Common Stock issuable upon the exercise of stock options, and (v) 159,333 shares of
                                         Common Stock issuable upon the exercise of warrants issued in&nbsp;&nbsp;conjunction
                                         with subordinated convertible notes. This amount does not include 53,987 shares of Common
                                         Stock issuable upon the exercise of stock options, which are not currently exercisable
                                         within sixty days of February 28, 2017. </P></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    (i) 162,043 shares of Common Stock issuable upon the automatic conversion of Series A-1 Preferred Stock, (ii) 465,873 shares
    of Common Stock issuable upon the automatic conversion of Series B-1 Preferred Stock, (iii) 26,339 shares of&nbsp;&nbsp;Common
    Stock issuable upon the automatic conversion of a 2016 subordinated convertible note in an amount, including accrued but unpaid
    interest, of $158,033, and &nbsp;(iv) 20,000 shares of Common Stock issuable upon the exercise of warrants issued in conjunction
    with a subordinated convertible note. Based on information provided by MGC Venture Partners 2013, L.P., Byron Smith, Joseph
    Cook, Jr., Joseph Cook, III and Steven Singleton have the ability to vote and dispose of the shares by majority vote.</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    (i) 283,716 shares of Common Stock, (ii) 48,319 shares of Common Stock issuable upon the exercise of stock options, (iii)
    81,458 shares of Common Stock issuable upon the automatic conversion of the Series A-1 Preferred Stock, (iv) 46,838 shares
    of Common Stock issuable upon the automatic conversion of the Series B-1 Preferred Stock and (v) 4,705 shares of Common Stock
    issuable upon exercise of warrants which such amount is the greatest amount of shares that may be issued pursuant to the warrant.
    &nbsp; This amount does not include 6,250 shares of Common Stock issuable upon the exercise of stock options, which are not
    exercisable within sixty days of February 28, 2017. Steve Kelly transferred ownership in 50,003 shares to various family members,
    and disclaims beneficial ownership to these shares</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
(i) 59,582 shares of Common Stock issuable upon the automatic conversion of Series A-1 Preferred Stock, (ii) 214,127 shares of
Common Stock issuable upon the automatic conversion of Series B-1 Preferred Stock, (iii) 22,814 shares of&nbsp;Common Stock
issuable upon the automatic conversion of a 2016 subordinated convertible note in an amount, including accrued but unpaid interest,
of $136,882, and (iv) 19,167 shares of Common Stock issuable upon the exercise of warrants issued in conjunction with a subordinated
convertible note.</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(14)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    (i) 69,225 shares of Common Stock issuable upon the automatic conversion of Series A-1 Preferred Stock and (ii) 223,769 shares
    of Common Stock issuable upon the automatic conversion of Series B-1 Preferred Stock. Based on information provided by Pelmea,
    L.P., Norm Benford and Meredith Clark Shachoy have the ability to vote and dispose of the shares.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(15)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    (i) 164,794 shares of Common Stock and (ii) 84,319 shares of Common Stock issuable upon a qualified financing if we exercise
    our option to repay up to 50% of the aggregate outstanding amount, including principal amount and all accrued but unpaid interest,
    of&nbsp;&nbsp;$1,013,340 on our notes payable, shareholder by issuing equity securities at 80% of the Offering price per share.
    Based upon information provided by Sandcastle Limited Partnership, Daniel Kelly, Steve Kelly&rsquo;s son, has the ability
    to vote and dispose of the shares. Steve Kelly disclaims beneficial ownership of these shares.</FONT> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

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

<!-- Field: Page; Sequence: 75; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><A NAME="n_001"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">DESCRIPTION
OF SECURITIES</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> The following description summarizes the most important terms
of our capital stock, as they are expected to be in effect upon the closing of this Offering. We expect to adopt an amended and
restated certificate of incorporation and amended and restated bylaws in connection with this Offering, and this description summarizes
the provisions that are expected to be included in such documents. Because it is only a summary, it does not contain all the information
that may be important to you. For a complete description of the matters set forth in &ldquo;Description of Securities,&rdquo;
you should refer to our amended and restated certificate of incorporation and amended and restated bylaws, which are or will be
included as exhibits to the Offering Statement relating to this Offering Circular, and to the applicable provisions of Delaware
law. Immediately following the closing of this Offering, our authorized capital stock will consist of 6,250,000 shares of Common
Stock, $0.0001 par value per share, and 1,862,500 shares of Series B-1 Preferred Stock, $0.0001 par value per share and 1,594,958
shares of Series A-1 Preferred Stock, $0.0001 par value per share . </P>









<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Common
Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> As of December 31, 2016, we had 1,124,080 shares of Common
Stock outstanding held by 84 stockholders of record. As of December 31, 2016, 2,622,187 are reserved for issuance in connection
with the conversion of Series A-1 Preferred Stock and Series B-1 Preferred Stock and 246,344 shares are reserved for issuance
upon the exercise of stock options under the 2004 Stock Option and Incentive Plan and the 2014 Stock Option and Grant Plan (collectively,
the &ldquo;Stock Plans&rdquo;). Upon the closing of this Offering, all shares of Convertible Preferred Stock will convert into
2,622,187 shares of our Common Stock. </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Voting
Rights</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The holders
of our Common Stock are entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders,
including the election of directors, and do not have cumulative voting rights. Accordingly, the holders of a majority of the outstanding
shares of Common Stock entitled to vote in any election of directors can elect all of the directors standing for election, if
they so choose, other than any directors that holders of any Preferred Stock we may issue may be entitled to elect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Dividends</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Subject
to limitations under Delaware law and preferences that may be applicable to any then outstanding Preferred Stock, holders of Common
Stock are entitled to receive ratably those dividends, if any, as may be declared by our Board of Directors out of legally available
funds.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Liquidation</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the
event of any voluntary or involuntary liquidation, dissolution or winding up of our affairs, the holders of our Common Stock will
be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of or provision
for all of our debts and other liabilities, subject to the prior rights of any Preferred Stock then outstanding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Rights
and Preferences</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Holders
of Common Stock have no preemptive or conversion rights or other subscription rights and there are no redemption or sinking funds
provisions applicable to the Common Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Fully
Paid and Non-assessable</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">All outstanding
shares of Common Stock are, and the Common Stock to be outstanding upon completion of this Offering will be, duly authorized,
validly issued, fully paid and non-assessable.</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Transfer
Agent and Registrar</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">The transfer agent and registrar for our Common Stock is
VStock Transfer, LLC.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Preferred
Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Immediately prior to the consummation of this Offering, all outstanding
shares of our Convertible Preferred Stock will be converted into shares of our Common Stock. Immediately after the consummation
of this Offering, our amended and restated certificate of incorporation will be amended and restated to delete all references
to such shares of Convertible Preferred Stock. Upon the consummation of this Offering, our Board of Directors will have the authority,
without further action by our stockholders, to issue up to 1,562,500 shares of Preferred Stock in one or more series and to fix
the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges could include dividend
rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares
constituting, or the designation of, such series, any or all of which may be greater than the rights of Common Stock. The issuance
of our Preferred Stock could adversely affect the voting power of holders of Common Stock and the likelihood that such holders
will receive dividend payments and payments upon our liquidation. In addition, the issuance of Preferred Stock could have the
effect of delaying, deferring or preventing a change in control of our company or other corporate action. Immediately after consummation
of this Offering, no shares of Preferred Stock will be outstanding, and we have no present plans to issue any shares of Preferred
Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Upon the closing of this Offering, the following shares will be
issuable upon the exercise of warrants;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; line-height: 115%"> &nbsp; </TD>
    <TD STYLE="width: 0.25in; line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,781 shares issuable
    upon the exercise of warrants, with a weighted-average exercise price of approximately $3.5136 per share;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"> &nbsp; </TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="line-height: 115%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">710,200 shares
    issuable upon the exercise of warrants, based on the price per share in the Offering;</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 0.25in; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">&#9679;</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">100,000
    shares issuable upon exercise of the warrants to be issued to the Selling Agent, or its designated affiliates, in connection
    with this Offering.</FONT></TD></TR>
</TABLE>
<!-- Field: Page; Sequence: 76; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Upon the closing of this Offering, the holders of our Common
Stock, including shares issuable upon the conversion of our Convertible Preferred Stock and warrants or their permitted transferees,
are entitled to rights with respect to the registration of these shares under the Securities Act. These rights are provided under
the terms of the Investor Rights Agreement between us and the holders of these shares, and include demand registration rights,
short-form registration rights and piggyback registration rights. All fees, costs and expenses of underwritten registrations will
be borne by us and all selling expenses, including underwriting discounts and selling commissions, will be borne by the holders
of the shares being registered.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><I>Demand registration rights</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> Upon the closing of this Offering, the holders of 2,622,187&nbsp;shares
of our Common Stock, including shares issuable upon the conversion of our Convertible Preferred Stock or their permitted transferees,
are entitled to demand registration rights. Under the terms of the Investor Rights Agreement, we will be required, upon the written
request of holders of a majority of the then-outstanding shares of Registrable Securities, as such term is defined in the Investor
Rights Agreement, requesting registration of Registrable Securities having an anticipated net aggregate Offering price of at least
$10 million, to effect the registration of such shares for public resale. We are required to effect only two registrations pursuant
to this provision of the Investor Rights Agreement. A demand for registration may not be made until 180 days after the closing
of this Offering. </P>



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><I>Form S-3 registration rights</I></B></P>

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

<P STYLE="margin: 0">If at any time we become entitled under the Securities Act to register our shares on Form S-3 and the holders
of at least 20% of the then-outstanding Registrable Securities request in writing that we register their shares for public resale
on Form S-3 with an aggregate price to the public of the shares to be registered, net of underwriting discounts and commissions,
of at least $2.5 million, we will be required to effect such registration; provided, however, that if our Board of Directors determines,
in good faith, that such registration would be materially interfere with a significant acquisition, corporate reorganization or
similar transaction, require premature disclosure of material information that we have a bona fide business purpose for preserving
as confidential, or render us unable to comply with the requirements under the Securities Act or the Exchange Act, we may defer
the registration for up to 90 days. We are only obligated to effect up to two registrations on Form S-3 within any twelve month
period.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Piggyback
registration rights</I></B></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"> Upon the closing of this Offering, the holders of 2,622,187 shares
of our Common Stock issued upon the conversion of our Convertible Preferred Stock or their permitted transferees, are entitled
to piggyback registration rights. If we register any of our securities either for our own account or for the account of other
security holders, the holders of these shares are entitled to include their shares in the registration. Subject to certain exceptions,
we and the underwriters may limit the number of shares included in the underwritten offering if the underwriters believe that
including these shares would adversely affect the offering. </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Indemnification</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our Investor
Rights Agreement contains customary cross-indemnification provisions, under which we are obligated to indemnify holders of registrable
securities in the event of material misstatements or omissions in the registration statement attributable to us, and they are
obligated to indemnify us for material misstatements or omissions attributable to them.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Termination
of registration rights</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The registration
rights granted under the Investor Rights Agreement will terminate on the fifth anniversary of the closing of this Offering or,
as to any holder of Registrable Securities, such earlier time after this Offering at which such holder can sell all shares held
by it in compliance with Rule 144.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Anti-Takeover
Effects of Provisions of Our Certificate of Incorporation, Our Bylaws and Delaware Law</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Some provisions
of Delaware law, our Certificate of Incorporation and our Bylaws contain provisions that could make the following transactions
more difficult: an acquisition of us by means of a tender offer; an acquisition of us by means of a proxy contest or otherwise;
or the removal of our incumbent officers and directors. It is possible that these provisions could make it more difficult to accomplish
or could deter transactions that stockholders may otherwise consider to be in their best interest or in our best interests, including
transactions which provide for payment of a premium over the market price for our shares.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">These
provisions, summarized below, are intended to discourage coercive takeover practices and inadequate takeover bids. These provisions
are also designed to encourage persons seeking to acquire control of us to first negotiate with our Board of Directors. We believe
that the benefits of the increased protection of our potential ability to negotiate with the proponent of an unfriendly or unsolicited
proposal to acquire or restructure us outweigh the disadvantages of discouraging these proposals because negotiation of these
proposals could result in an improvement of their terms.</FONT></P>

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

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

<!-- Field: Page; Sequence: 77; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Classified
Board</I></B></FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our Certificate of Incorporation and our Bylaws will provide that
our Board of Directors will be divided into three classes of directors, with the classes as nearly equal in number as possible.
As a result, approximately one-third of our Board of Directors will be elected each year. The classification of directors will
have the effect of making it more difficult for stockholders to change the composition of our board. Our Certificate of Incorporation
and our Bylaws will also provide that, subject to any rights of holders of Preferred Stock to elect additional directors under
specified circumstances, the number of directors will be fixed exclusively pursuant to a resolution adopted by our Board of Directors.
Upon the closing of this Offering, we expect that our Board of Directors will have five members.</P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Undesignated
Preferred Stock</I></B></FONT></P>

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





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The ability of our Board of Directors, without action by the stockholders,
to issue up to 1,562,500 shares of undesignated Preferred Stock with voting or other rights or preferences as designated by our
Board of Directors could impede the success of any attempt to change control of us. These and other provisions may have the effect
of deferring hostile takeovers or delaying changes in control or management of our company.</P>











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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Appointment
and Removal of Directors</I></B></FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our Certificate of Incorporation and our Bylaws will provide that
the number of directors constituting our Board of Directors is set only by resolution adopted by a majority vote of our entire
Board of Directors. These provisions restricting the filling of vacancies will prevent a stockholder from increasing the size
of our Board of Directors and gaining control of our Board of Directors by filling the resulting vacancies with its own nominees.
In addition, our Certificate of Incorporation and our Bylaws will provide that no member of our Board of Directors may be removed
from office by our stockholders with cause and, in addition to any other vote required by law, upon the approval of not less than
75% of the total voting power of all of our outstanding voting stock then entitled to vote in the election of directors.</P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Advance
Notice Procedures</I></B></FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">Our Certificate of Incorporation and our
Bylaws will establish an advance notice procedure for stockholder proposals to be brought before an annual meeting of our stockholders,
including proposed nominations of persons for election to the Board of Directors. Stockholders at an annual meeting will only
be able to consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction
of the Board of Directors or by a stockholder who was a stockholder of record on the record date for the meeting, who is entitled
to vote at the meeting and who has given our Secretary timely written notice, in proper form, of the stockholder's intention to
bring that business before the meeting. Although our Bylaws will not give the Board of Directors the power to approve or disapprove
stockholder nominations of candidates or proposals regarding other business to be conducted at a special or annual meeting, our
Bylaws may have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed
or may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect its own slate of directors
or otherwise attempting to obtain control of the company.</P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Delaware
Anti-Takeover Statute</I></B></FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We are subject to Section 203 of the DGCL, which prohibits persons
deemed to be &ldquo;interested stockholders&rdquo; from engaging in a &ldquo;business combination&rdquo; with a publicly held
Delaware corporation for three years following the date these persons become interested stockholders unless the business combination
is, or the transaction in which the person became an interested stockholder was, approved in a prescribed manner or another prescribed
exception applies. Generally, an &ldquo;interested stockholder&rdquo; is a person who, together with affiliates and associates,
owns, or within three years prior to the determination of interested stockholder status did own, 15% or more of a corporation&rsquo;s
voting stock. Generally, a &ldquo;business combination&rdquo; includes a merger, asset or stock sale, or other transaction resulting
in a financial benefit to the interested stockholder. The existence of this provision may have an anti-takeover effect with respect
to transactions not approved in advance by the Board of Directors. A Delaware corporation may &quot;opt out&quot; of these provisions
with an express provision in its original certificate of incorporation or an express provision in its certificate of incorporation
or bylaws resulting from a stockholders' amendment approved by at least a majority of the outstanding voting shares. We have not
opted out of these provisions. As a result, mergers or other takeover or change in control attempts of us may be discouraged or
prevented.</P>





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

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

<!-- Field: Page; Sequence: 78; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Amendment
of Charter Provisions</I></B></FONT></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The DGCL generally provides that the affirmative vote of a majority
of the shares entitled to vote on any matter is required to amend a corporation's certificate of incorporation or bylaws, unless
either a corporation's certificate of incorporation or bylaws requires a greater percentage. A majority vote of our Board of Directors
or the affirmative vote of holders of at least 75% of the total votes of our outstanding shares of capital stock entitled to vote
with respect thereto, voting together as a single class, will be required to amend, alter, change or repeal the bylaws. In addition,
the affirmative vote of the holders of at least 66 2/3% of the total votes of our outstanding shares of capital stock entitled
to vote with respect thereto, voting together as a single class, will be required to amend, alter, change or repeal, or to adopt
any provisions inconsistent with, any of the provisions in our certificate of incorporation relating to amendments to our certificate
of incorporation and bylaws and as described under &quot;Action by written consent; special meetings of stockholders&quot;, &quot;Classified
board&quot; and &quot;Removal of directors&quot; above. This requirement of a supermajority vote to approve amendments to our
Bylaws and Certificate of Incorporation could enable a minority of our stockholders to exercise veto power over any such amendments.</P>







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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Authorized
but Unissued Shares</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our authorized
but unissued shares of Common Stock and Preferred Stock will be available for future issuance without stockholder approval. These
additional shares may be utilized for a variety of corporate purposes, including future public offerings to raise additional capital
and corporate acquisitions. The existence of authorized but unissued shares of Common Stock and Preferred Stock could render more
difficult or discourage an attempt to obtain control of a majority of our Common Stock by means of a proxy contest, tender offer,
merger or otherwise.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The provisions
of Delaware law, our Certificate of Incorporation and our Bylaws could have the effect of discouraging others from attempting
hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the market price of our Common Stock
that often result from actual or rumored hostile takeover attempts. These provisions may also have the effect of preventing changes
in the composition of our board and management. It is possible that these provisions could make it more difficult to accomplish
transactions that stockholders may otherwise deem to be in their best interests.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><A NAME="a_016"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">DIVIDEND
POLICY</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Since
our inception, we have not paid any dividends on our Common Stock, and we currently expect that, for the foreseeable future, all
earnings (if any) will be retained for the development of our business and no dividends will be declared or paid. In the future,
our Board of Directors may decide, at their discretion, whether dividends may be declared and paid, taking into consideration,
among other things, our earnings (if any), operating results, financial condition and capital requirements, general business conditions
and other pertinent facts.</FONT></P>

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




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

<!-- Field: Page; Sequence: 79; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><A NAME="a_017"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">SHARES
ELIGIBLE FOR FUTURE SALE</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Before
this Offering, there has not been a public market for shares of our Common Stock. Future sales of substantial amounts of shares
of our Common Stock, including shares issued upon the exercise of outstanding options and warrants, in the public market after
this Offering, or the possibility of these sales occurring, could cause the prevailing market price for our Common Stock to fall
or impair our ability to raise equity capital in the future.</FONT></P>

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





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> After this Offering, we will have outstanding 3,871,265
shares of our Common Stock, based on the number of shares outstanding as of December 31, 2016 and with the conversion of the Convertible
Preferred Stock upon closing of the Offering. This also includes 125,000 shares that we are selling in this Offering, which shares
may be resold in the public market immediately following our initial public offering, and assumes no additional exercise of outstanding
options and warrants. </P>













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





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> The 3,746,265 shares of Common Stock that were not offered
and sold in this Offering as well as shares issuable upon the exercise of warrants and subject to employee stock options will
be upon issuance, &ldquo;restricted securities,&rdquo; as that term is defined in Rule 144 under the Securities Act. These restricted
securities are eligible for public sale only if they are registered under the Securities Act or if they qualify for an exemption
from registration under Rule 144 or Rule 701 under the Securities Act, which are summarized below. </P>









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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rule
144</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In general,
a person who has beneficially owned restricted shares of our Common Stock for at least twelve months, in the event we are a reporting
company under Regulation A, or at least six months, in the event we have been a reporting company under the Exchange Act for at
least 90 days before the sale, would be entitled to sell such securities, provided that such person is not deemed to be an affiliate
of ours at the time of sale or to have been an affiliate of ours at any time during the 90 days preceding the sale. A person who
is an affiliate of ours at such time would be subject to additional restrictions, by which such person would be entitled to sell
within any three-month period only a number of shares that does not exceed the greater of the following:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1%
                                         of the number of shares of our Common Stock then outstanding; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         average weekly trading volume of our Common Stock during the four calendar weeks preceding
                                         the filing by such person of a notice on Form 144 with respect to the sale;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">provided
that, in each case, we are subject to the periodic reporting requirements of the Exchange Act for at least 90 days before the
sale. Rule 144 trades must also comply with the manner of sale, notice and other provisions of Rule 144, to the extent applicable.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rule
701</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In general,
Rule 701 allows a stockholder who purchased shares of our capital stock pursuant to a written compensatory plan or contract and
who is not deemed to have been an affiliate of ours during the immediately preceding 90 days to sell those shares in reliance
upon Rule 144, but without being required to comply with the public information, holding period, volume limitation or notice provisions
of Rule 144. All holders of Rule 701 shares, however, are required to wait until 90 days after the date of this Offering Circular
before selling shares pursuant to Rule 701.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lock-Up
Agreements</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We and
our officers, directors, and more than 5% stockholders have agreed, or will agree, with the Selling Agent, subject to certain
exceptions, that, without the prior written consent of the Selling Agent, we and they will not, directly or indirectly, during
the period ending 180 days after the date of the Offering Circular.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">offer,
                                         pledge, sell, contract to sell, sell any option or contract to purchase, purchase any
                                         option or contract to sell, grant any option, right or warrant for the sale of, or otherwise
                                         dispose of or transfer any shares of the Common Stock or any securities convertible into
                                         or exchangeable or exercisable for the Common Stock, whether now owned or hereafter acquired
                                         by the undersigned or with respect to which the undersigned has or hereafter acquires
                                         the power of disposition; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">enter
                                         into any swap or any other agreement or any transaction that transfers, in whole or in
                                         part, the economic consequence of ownership of the Common Stock, whether any such swap
                                         or transaction is to be settled by delivery of the Common Stock or other securities,
                                         in cash or otherwise.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"></P>

<!-- Field: Page; Sequence: 80; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">This agreement
does not apply, in our case, to securities issued pursuant to existing employee benefit plans or securities issued upon exercise
of options, and other exceptions, and in the case of our officers, directors and other holders of our securities, exercise of
stock options issued pursuant to a stock option or similar plans, and other exceptions.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Registration
Rights</B></FONT></P>

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



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Upon the closing of this Offering, the holders of 2,622,187
shares of our Common Stock issued or issuable (as calculated as of December 31, 2016) will be entitled to specified rights with
respect to the registration of the offer and sale of their shares under the Securities Act. Registration of these shares under
the Securities Act would result in the shares becoming freely tradable without restriction under the Securities Act immediately
upon the effectiveness of the registration statement. See the section of this prospectus titled &quot;Description of Securities&mdash;Registration
rights&quot; for additional information. </P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Registration
Statement on Form S-8</B></FONT></P>

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





<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> As of December 31, 2016, options to purchase a total
of 246,344 shares of Common Stock pursuant to our 2004 Plan and 2014 Plan were outstanding, of which options to purchase 140,724
shares were exercisable, and no options were outstanding or exercisable under our 2016 Plan. We intend to file a registration
statement on Form S-8 under the Securities Act to register shares that may be issued pursuant to our 2004 Plan, 2014 Plan and
2016 Plan. The registration statement on Form S-8 is expected to become effective immediately upon filing, and shares covered
by the registration statement will then become eligible for sale in the public market, subject to the Rule 144 limitations applicable
to affiliates, vesting restrictions and any applicable lock-up agreements and market standoff agreements. For a description of
our equity incentive plans, see &quot;Executive compensation&mdash;Employee benefits plans.&quot; </P>









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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><A NAME="a_018"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">LEGAL
MATTERS</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Certain legal matters with respect to the shares of Common Stock
offered hereby will be passed upon by Duane Morris LLP, New York, New York. Hunter Taubman Fischer &amp; Li LLC, New York, New
York is acting as counsel to the selling agents.</P>



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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><A NAME="a_019"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">EXPERTS</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The financial
statements of the Company appearing elsewhere in this Offering Circular have been included herein in reliance upon the report,
which includes an explanatory paragraph as to the Company&rsquo;s ability to continue as a going concern, of Marcum LLP, an independent
registered public accounting firm, appearing elsewhere herein, and upon the authority of Marcum LLP as experts in accounting and
auditing.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><A NAME="a_020"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">WHERE
YOU CAN FIND MORE INFORMATION</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We have
filed with the SEC a Regulation A Offering Statement on Form 1-A under the Securities Act with respect to the shares of Common
Stock offered hereby. This Offering Circular, which constitutes a part of the Offering Statement, does not contain all of the
information set forth in the Offering Statement or the exhibits and schedules filed therewith. For further information about us
and the Common Stock offered hereby, we refer you to the Offering Statement and the exhibits and schedules filed therewith. Statements
contained in this Offering Circular regarding the contents of any contract or other document that is filed as an exhibit to the
Offering Statement are not necessarily complete, and each such statement is qualified in all respects by reference to the full
text of such contract or other document filed as an exhibit to the Offering Statement. Upon the completion of this Offering, we
will be required to file periodic reports, proxy statements, and other information with the SEC pursuant to the Exchange Act.
You may read and copy this information at the SEC&rsquo;s Public Reference Room, 100 F Street, N.E., Room 1580, Washington, D.C.
20549. You may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC
also maintains an Internet website that contains reports, proxy statements and other information about issuers, including us,
that file electronically with the SEC. The address of this site is <U>www.sec.gov</U>.</FONT></P>

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




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

<!-- Field: Page; Sequence: 81; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"> <A NAME="a_021"></A> <B>INDEX TO FINANCIAL STATEMENTS</B> </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Myomo,
Inc.</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>As
of and for the Years Ended December 31, 2016 and 2015</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 93%; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"> <A HREF="#f_001"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Report
    of Independent Registered Public Accounting Firm</FONT> </A></TD>
    <TD STYLE="width: 7%; text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-2</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-indent: -10pt"> <A HREF="#f_002"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance
    Sheets at December 31, 2016 and 2015</FONT> </A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-3</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-indent: -10pt"> <A HREF="#f_003"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements
    of Operations for the years ended December 31, 2016 and 2015</FONT> </A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-4</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-indent: -10pt"> <A HREF="#f_004"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements
    of Changes in Redeemable and Convertible Preferred Stock and Stockholders&rsquo; Deficiency for the years ended December 31,
    2016 and 2015</FONT> </A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-5</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-indent: -10pt"> <A HREF="#f_005"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements
    of Cash Flows for the years ended December 31, 2016 and 2015</FONT> </A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-6</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-indent: -10pt"> <A HREF="#f_006"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
    to Financial Statements for the years ended December 31, 2016 and 2015</FONT> </A></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-7</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>


<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</U></B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
the Board of Directors and Shareholders</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Myomo,
Inc.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have audited the accompanying balance sheets of Myomo, Inc. (the &ldquo;Company&rdquo;) as of December 31, 2016 and 2015, and
the related statements of operations, changes in redeemable and convertible preferred stock and stockholders&rsquo; deficiency
and cash flows for the years then ended. These financial statements are the responsibility of the Company&rsquo;s management.
Our responsibility is to express an opinion on these financial statements based on our audits.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States) and in
accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The
Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our
audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company&rsquo;s
internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that
our audits provide a reasonable basis for our opinion.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Myomo,
Inc., as of December 31, 2016 and 2015, and the results of its operations and its cash flows for the years then ended in conformity
with accounting principles generally accepted in the United States of America.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As more fully
discussed in Note 2 to the financial statements, the Company has reported recurring losses from operations and has an accumulated
deficit that raises substantial doubt about its ability to continue as a going concern. Management&rsquo;s plans in regard to
these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the
outcome of this uncertainty.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
Marcum LLP</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcum
LLP</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
York, New York</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March
27, 2017</FONT> </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <A NAME="f_001"></A></P>


<!-- Field: Page; Sequence: 2; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <A NAME="f_002"></A> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BALANCE
SHEETS </B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&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-weight: bold; border-bottom: Black 1.5pt solid"> December 31, </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2016 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> 2015 </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font-weight: bold; text-align: center"> ASSETS </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"> Current Assets: </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; padding-left: 10pt"> Cash </TD><TD STYLE="width: 1%; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left"> $ </TD><TD STYLE="width: 9%; font-weight: bold; text-align: right"> 797,174 </TD><TD STYLE="width: 1%; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 1,042,618 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"> Accounts receivable </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 114,506 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 115,642 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt"> Inventories </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 82,435 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 98,023 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt"> Prepaid expenses and other </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 152,337 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 113,876 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 20pt"> Total Current Assets </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 1,146,452 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,370,159 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 20pt"> &nbsp; </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Restricted cash </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 52,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"> Inventories, non-current </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 105,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Deferred offering costs </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 438,237 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 6,276 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> Equipment, net </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 21,563 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 27,429 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt; padding-left: 20pt"> Total Assets </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> 1,658,252 </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 1,508,864 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="9" STYLE="font-weight: bold; text-align: center"> LIABILITIES, REDEEMABLE AND CONVERTIBLE PREFERRED STOCK AND
    STOCKHOLDERS' DEFICIENCY </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"> Current Liabilities: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"> Notes payable, shareholder </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> $ </TD><TD STYLE="font-weight: bold; text-align: right"> 876,458 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 147,650 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"> Convertible promissory notes , net of debt discount </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 325,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"> Convertible promissory notes, related party </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 100,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"> Accounts payable and other accrued expenses </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 714,010 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 349,845 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"> Accrued interest </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 149,580 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt"> Deferred revenue </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 67,263 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 22,725 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 20pt"> Total Current Liabilities </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 1,807,311 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 945,220 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Notes payable, MLSC, net of debt discount </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 1,193,984 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 747,671 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"> Notes payable, shareholder </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 728,808 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Convertible promissory notes, net of debt discount </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 2,204,235 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"> Convertible promissory notes, related party </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 1,180,000 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> Accrued interest </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 130,937 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 425,326 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 20pt"> Total Liabilities </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 6,516,467 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 2,847,025 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"> Redeemable and Convertible Preferred Stock: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10pt"> Series B-1 convertible preferred stock par value $0.0001
    per share; 1,862,500 shares authorized; 1,662,104 shares issued and outstanding as of December 31, 2016 and 2015. (liquidation
    preference of $9,701,313 and $9,043,020) at December 31, 2016 and 2015, respectively) </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 8,174,693 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 8,162,406 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10pt"> Series A-1 convertible preferred stock par value $0.0001
    per share; 1,594,958 shares&nbsp;authorized; 960,083 shares issued and outstanding as of December 31, 2016, and 2015. (liquidation
    preference of $4,740,066 at December 31, 2016 and 2015) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 4,497,548 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 4,401,095 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 20pt"> Total Redeemable and Convertible
    Preferred Stock </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 12,672,241 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 12,563,501 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Commitments and Contingencies </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Stockholders' Deficiency </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt"> Common stock par value $0.0001 per share 5,600,000
    shares authorized; 1,124,888 and 1,000,432 shares issued and 1,124,080 and 999,624 shares outstanding as of December 31, 2016
    and 2015, respectively. </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 112 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 100 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"> Additional paid-in capital </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 5,351,204 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 5,362,988 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"> Accumulated deficit </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> (22,875,308 </TD><TD STYLE="font-weight: bold; text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (19,258,286 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt"> Treasury stock, at cost; 808 shares of common stock </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> (6,464 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (6,464 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 20pt"> Total Stockholders' Deficiency </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> (17,530,456 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (13,901,662 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 20pt"> Total Redeemable and Convertible
    Preferred Stock and Stockholders&rsquo; Deficiency </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> (4,858,215 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (1,338,161 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt"> Total Liabilities, Redeemable and Convertible Preferred
    Stock and Stockholders&rsquo; Deficiency </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> 1,658,252 </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 1,508,864 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>The
accompanying notes are an integral part of the financial statements. </I></FONT> </P>

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


<!-- Field: Page; Sequence: 3; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <A NAME="f_003"></A> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>STATEMENTS
OF OPERATIONS </B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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-weight: bold; border-bottom: Black 1.5pt solid"> For the years ended December 31, </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2016 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> 2015 </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-weight: bold"> Revenue </TD><TD STYLE="width: 1%; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left"> $ </TD><TD STYLE="width: 9%; font-weight: bold; text-align: right"> 1,103,277 </TD><TD STYLE="width: 1%; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 689,671 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> Cost of revenue </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1.5pt solid"> 282,164 </TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="text-align: right; border-bottom: Black 1.5pt solid"> 244,407 </TD><TD STYLE="text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> Gross margin </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1.5pt solid"> 821,113 </TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="text-align: right; border-bottom: Black 1.5pt solid"> 445,264 </TD><TD STYLE="text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Operating expenses: </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"> Research and development </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 1,120,951 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 869,130 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; padding-bottom: 1.5pt"> Selling, general and administrative </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1.5pt solid"> 2,975,164 </TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="text-align: right; border-bottom: Black 1.5pt solid"> 3,109,637 </TD><TD STYLE="text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri,sans-serif; padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1.5pt solid"> 4,096,115 </TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="text-align: right; border-bottom: Black 1.5pt solid"> 3,978,767 </TD><TD STYLE="text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Loss from operations </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> (3,275,002 </TD><TD STYLE="font-weight: bold; text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (3,533,503 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Other expense </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt"> Interest expense </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1.5pt solid"> 342,020 </TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="text-align: right; border-bottom: Black 1.5pt solid"> 196,059 </TD><TD STYLE="text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri,sans-serif; padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1.5pt solid"> 342,020 </TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="text-align: right; border-bottom: Black 1.5pt solid"> 196,059 </TD><TD STYLE="text-align: left; padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Net loss </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> (3,617,022 </TD><TD STYLE="font-weight: bold; text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (3,729,562 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"> Deemed dividend &ndash; accreted &nbsp;preferred &nbsp;stock </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> (108,739 </TD><TD STYLE="font-weight: bold; text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (108,626 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; padding-bottom: 1.5pt"> Cumulative dividend to Series B-1 preferred stockholders </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1.5pt solid"> (658,293 </TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="text-align: left; border-bottom: Black 1.5pt solid"> &nbsp; </TD><TD STYLE="text-align: right; border-bottom: Black 1.5pt solid"> (643,979 </TD><TD STYLE="text-align: left; padding-bottom: 1.5pt"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt"> Net loss available to common stockholders </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 4pt double"> $ </TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 4pt double"> (4,384,054 </TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt"> ) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="text-align: left; border-bottom: Black 4pt double"> $ </TD><TD STYLE="text-align: right; border-bottom: Black 4pt double"> (4,482,167 </TD><TD STYLE="text-align: left; padding-bottom: 4pt"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"> Weighted average number of common shares outstanding: </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; padding-bottom: 4pt"> Basic and diluted </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 4pt double"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 4pt double"> 1,060,892 </TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="text-align: left; border-bottom: Black 4pt double"> &nbsp; </TD><TD STYLE="text-align: right; border-bottom: Black 4pt double"> 999,263 </TD><TD STYLE="text-align: left; padding-bottom: 4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Net loss per share available to common stockholders: </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: right"> &nbsp; </TD><TD STYLE="font-family: Calibri,sans-serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt; padding-bottom: 4pt"> Basic and diluted </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 4pt double"> $ </TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 4pt double"> <FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt"><B>(4.13</B></FONT> </TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt"> ) </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="text-align: left; border-bottom: Black 4pt double"> $ </TD><TD STYLE="text-align: right; border-bottom: Black 4pt double"> (4.49 </TD><TD STYLE="text-align: left; padding-bottom: 4pt"> ) </TD></TR>
</TABLE>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>The
accompanying notes are an integral part of the financial statements. </I></FONT> </P>

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


<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <A NAME="f_004"></A> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>STATEMENTS
OF CHANGES IN REDEEMABLE AND CONVERTIBLE PREFERRED STOCK AND</B></FONT> <BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>STOCKHOLDERS' DEFICIENCY </B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FOR
THE YEARS ENDED DECEMBER 31, 2016 AND 2015</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></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="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="14" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Redeemable
    and Convertible Preferred Stock</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"> <FONT STYLE="font-size: 8pt">Additional</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"> <FONT STYLE="font-size: 8pt">Total</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Series
    B-1</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Series
    A-1</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Common
    stock</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"> <FONT STYLE="font-size: 8pt">paid-in</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"> <FONT STYLE="font-size: 8pt">Accumulated</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Treasury
    stock</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"> <FONT STYLE="font-size: 8pt">Stockholders'</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Shares</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Amount</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Shares</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Amount</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Shares</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Amount</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">capital</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">deficit</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Shares</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Amount</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">Deficiency</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 6.5%; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Balance, January&nbsp;1, 2015</FONT> </TD><TD STYLE="width: 0.5%"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 8pt">1,331,626</FONT> </TD><TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 0.5%"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 8pt">6,524,804</FONT> </TD><TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 0.5%"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 8pt">960,083</FONT> </TD><TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 0.5%"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 8pt">4,304,642</FONT> </TD><TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 0.5%; border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 8pt">999,166</FONT> </TD><TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 0.5%"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 8pt">100</FONT> </TD><TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 0.5%"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 8pt">5,417,752</FONT> </TD><TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 0.5%"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 8pt">(15,528,724</FONT> </TD><TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="width: 0.5%"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 8pt">808</FONT> </TD><TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="width: 0.5%"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 8pt">(6,464</FONT> </TD><TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="width: 0.5%"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="width: 7%; text-align: right"> <FONT STYLE="font-size: 8pt">(10,117,336</FONT> </TD><TD STYLE="width: 0.5%; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Issuance of Series B-1
    preferred stock, net of issuance costs of $6,121</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">330,478</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">1,625,428</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">-</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Issuance of common stock&nbsp;due&nbsp;to&nbsp;stock&nbsp;option exercises</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">458</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">17</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">17</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Accretion of preferred
    stock</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">12,174</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">96,453</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">(108,626</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">(108,626</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Stock-based compensation</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">53,845</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">53,845</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Net
    loss</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">(3,729,562</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">(3,729,562</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Balance, December 31, 2015</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">1,662,104</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">8,162,406</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">960,083</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">4,401,095</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">999,624</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">100</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">5,362,988</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">(19,258,286</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">808</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">(6,464</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">(13,901,662</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Issuance
    of common stock due to stock option exercises</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt"><B>124,456</B></FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">12</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">2,861</FONT> </TD><TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">2,873</FONT> </TD><TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Accretion
    of preferred stock</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">12,287</FONT> </TD><TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">96,453</FONT> </TD><TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">(108,739</FONT> </TD><TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">(108,739</FONT> </TD><TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Stock-based
    compensation</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">94,094</FONT> </TD><TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">94,094</FONT> </TD><TD STYLE="font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Net
    loss</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">(3,617,022</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">(3,617,022</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 4pt; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 8pt">Balance,
    December 31, 2016</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">1,662,104</FONT> </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">8,174,693</FONT> </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">960,083</FONT> </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">4,497,548</FONT> </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt; border-left: Black 1.5pt solid"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">1,124,080</FONT> </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">112</FONT> </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">5,351,204</FONT> </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">(22,875,308</FONT> </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">808</FONT> </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">(6,464</FONT> </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> <FONT STYLE="font-size: 8pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> <FONT STYLE="font-size: 8pt">(17,530,456</FONT> </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> <FONT STYLE="font-size: 8pt">)</FONT> </TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>The
accompanying notes are an integral part of the financial statements.</I></FONT> </P>

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


<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <A NAME="f_005"></A> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>STATEMENTS
OF CASH FLOWS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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-weight: bold; border-bottom: Black 1.5pt solid"> For the years ended December 31, </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2016 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> 2015 </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"> Cash flows from operating activities: </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding-bottom: 1.5pt; padding-left: 10pt"> Net loss </TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> $ </TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> (3,617,022 </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> ) </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> $ </TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"> (3,729,562 </TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"> Adjustments to reconcile net loss to net cash used in operating activities: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 20pt"> Depreciation </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 7,731 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 5,307 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt"> Stock-based compensation </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 94,094 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 53,845 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 20pt"> Amortization of debt discount </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 5,347 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 8,031 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt"> Changes in operating assets and liabilities: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 30pt"> Accounts receivable </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 1,136 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 115,989 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 30pt"> Inventories </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 120,588 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 16,279 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 30pt"> Prepaid expenses and other </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> (38,461 </TD><TD STYLE="font-weight: bold; text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 50,887 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 30pt"> Restricted cash </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> (52,000 </TD><TD STYLE="font-weight: bold; text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 30pt"> Deferred offering costs </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> (431,961 </TD><TD STYLE="font-weight: bold; text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (6,276 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 30pt"> Accounts payable and other accrued expenses </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 364,165 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 19,954 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 30pt"> Accrued interest </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 299,175 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 187,082 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 30pt"> Deferred revenue </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 44,538 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (56,042 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 40pt"> Total adjustments </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 414,352 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 395,056 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 30pt"> Net cash used in operating activities </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> (3,202,670 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (3,334,506 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"> Cash flows used in investing activities: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt; padding-left: 10pt"> Acquisition of equipment </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> (1,865 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (27,944 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> Net cash used in investing activities </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> (1,865 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (27,944 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Cash flows from financing activities: </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"> Payments under note payable, bank </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> - </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (69,960 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"> Proceeds from convertible promissory notes, net of&nbsp;&nbsp;issuance
    costs </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 2,956,218 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 425,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"> Proceeds from issuance of preferred stock, net </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> - </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,625,428 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt"> Proceeds from issuance of common stock from the
    exercise of options </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 2,873 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 17 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 30pt"> Net cash provided by financing
    activities </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 2,959,091 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 1,980,485 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> Net decrease in cash </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> (245,444 </TD><TD STYLE="font-weight: bold; text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (1,381,965 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt"> Cash, beginning of year </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 1,042,618 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 2,424,583 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt"> Cash, end of year </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> 797,174 </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 1,042,618 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> SUPPLEMENTAL DISCLOSURE CASH FLOW INFORMATION </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"> Cash paid during the period for interest </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 37,619 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 946 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"> NON-CASH INVESTING AND FINANCING ACTIVITIES </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 20pt"> Conversion of accrued interest to principal </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 443,984 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 295,657 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>The
accompanying notes are an integral part of the financial statements.</I></FONT> </P>

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


<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <A NAME="f_006"></A> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
1 - Description of Business</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Myomo
Inc. (&ldquo;Myomo&rdquo; or the Company&rdquo;) is a medical robotics company that develops, designs, and produces myoelectric
orthotics for people with neuromuscular disorders.&nbsp; The MyoPro&reg; myoelectric upper limb orthosis product is registered
with the Food and Drug Administration as a Class II medical device.&nbsp; The Company sells the product to orthotics and prosthetics
practices or clinics, as well as Veteran Administration and other hospitals&nbsp;in the United States of America.&nbsp; The Company
was incorporated in the State of Delaware on September 1, 2004&nbsp;and is headquartered in Cambridge, Massachusetts.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Initial
Public Offering under Regulation A</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
March 2017, the Company filed an offering statement pursuant to Regulation A of the Securities Act of 1933 with the Securities
and Exchange Commission. The Company&rsquo;s offering was qualified on March 10, 2017. The Company is offering 2,000,000 shares
of its common stock on a &ldquo;best efforts&rdquo; basis, at a price of $7.50 per share. At December 31, 2016, the Company had
$438,000 of deferred offering costs, which will be offset against offering proceeds upon completion of the offering. There can
be no assurance that the Company will be successful in completing this offering, or if completed, for the maximum amount of the
offering.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
2 - Going Concern and Management&rsquo;s Liquidity Plan</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets
and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments
relating to the recoverability and classification of asset amounts or the classification of liabilities that might be
necessary should the Company be unable to continue as a going concern. The Company incurred a net loss of approximately $3.6
million and $3.7 million during the years ended December 31, 2016 and 2015, respectively, and has an accumulated deficit of
approximately $22.9 million and $19.3 million at December 31, 2016 and 2015 respectively. Cash used in operating activities
was approximately $3.2 million and $3.3 million for the years ended December 31, 2016 and 2015, respectively. The
aforementioned factors raise substantial doubt about the Company&rsquo;s ability to continue as a going concern within one
year after the date the financial statements are issued.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Historically,
the Company has financed its operations through equity and debt financing transactions and expects to continue incurring operating
losses for the foreseeable future. The Company&rsquo;s plans and expectations for the next 12 months include raising additional
capital to help fund commercial operations, including product development, and to repay outstanding promissory notes. During the
year-ended December 31, 2015, the Company established a plan to issue additional subordinated promissory notes bearing an interest
rate of 8% per annum. As of December 31, 2016, the Company raised $3,402,000. Subsequent to December 31, 2016, the Company raised
an additional $1,770, 000 through March 2017. As of December 31, 2016, $3,002,000 of the subordinated convertible promissory notes
include an option for the Company to convert the notes to equity upon a public offering with aggregate proceeds of not less than
$5 million. As of December 31, 2016, $400,000 of the subordinated convertible promissory notes have an option for the investors
to convert to equity. Subsequent to December 31, 2016, these investors agreed to have their subordinated convertible promissory
notes modified to also include a provision for the Company to convert the notes to equity upon a public offering.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
upon the Company&rsquo;s capital deficiency, outstanding debt (including the $1,770,000 raised after December 31, 2016 through
the issuance of convertible promissory notes and forecasted continued operating losses, the Company expects that the cash it currently
has available will fund our operations through July 2017. Thereafter, it will need to raise further capital, through the sale
of additional equity or debt securities to support our future operations and to repay our debt (unless, if requested, the debt
holders agree to convert their notes into equity or extend the maturity dates of their notes). The Company&rsquo;s operating needs
include costs to operate its business, including amounts required to fund working capital and capital expenditures.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company will need to raise additional capital to sustain its operations, pursue its product development initiatives and penetrate
markets for the sale of its products. Management believes that the Company has access to capital resources through possible public
or private equity offerings, debt financings, corporate collaborations or other means; however, the Company cannot provide any
assurance that it will be able to raise additional capital or obtain new financing on commercially acceptable terms. As discussed
above, the Company filed a preliminary offering statement under Regulation A for an initial public offering. If the Company is
unable to secure additional capital, it may be required to curtail its operations or delay the execution of its business plan.</FONT> </P>

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


<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
3 - Summary of Significant Accounting Policies</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Reverse
Stock Split</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
December 20, 2016, the Company filed with the State of Delaware the Seventh Amended and Restated Certificate of Incorporation
for a one-for sixteen reverse stock split of the Company&rsquo;s outstanding common and preferred stock, and common stock equivalents.
All share and per share information has been restated retroactively giving effect for the reverse stock split for all periods
presented. There was no change to the reported net loss</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Use
of Estimates</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
preparation of financial statements in conformity with accounting principles generally accepted in the United States of America
require management to make estimates and assumptions that affect certain reported amounts and disclosures. These estimates and
assumptions are reviewed on an on-going basis and updated as appropriate. Actual results could differ from those estimates. The
Company&rsquo;s significant estimates include the allowance for doubtful accounts, the valuation of its deferred tax asset, the
fair value of its derivative liabilities and reserves for slow moving inventory.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Cash
and Cash Equivalents</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. As of
December 31, 2016 and 2015, the Company had no cash equivalents.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Accounts
Receivable</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company reports accounts receivable at invoiced amounts less an allowance for doubtful accounts. The Company evaluates its accounts
receivable on a continuous basis, and if necessary, establishes an allowance for doubtful accounts based on a number of factors,
including current credit conditions and customer payment history. The Company does not require collateral or accrue interest on
accounts receivable and credit terms are generally 30 days. No allowance for doubtful accounts was necessary at December 31, 2016
and 2015.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
receivable includes unbilled receivables of $68,900 at December 31, 2015. The unbilled amount represented amounts earned under
federally-funded grants but not yet billed by the Company.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inventories</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories
are recorded at the lower of cost or market. Cost is determined using a specific identification method. The Company reduces the
carrying value of inventory for those items that are potentially excess, obsolete or slow-moving based on changes in customer
demand, technology developments or other economic factors.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company periodically analyzes anticipated product sales based on historical results, current backlog and marketing plans. Based
on these analyses, the Company anticipates the amounts of product that will not be sold during the next twelve months. Inventories
that are not anticipated to be sold in the next twelve months have been classified as non-current in the balance sheet.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Restricted
Cash</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
December 31, 2016, restricted cash consisted of cash deposited with a financial institution as collateral for Company credit cards
for sales personnel.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Deferred
Offering Costs</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
offering costs are comprised of direct incremental legal, accounting and financial advisor fees related relating to capital raising
efforts. Deferred offering costs are offset against proceeds of an offering. In the event a capital raising effort is terminated,
deferred offering costs will be expensed.</FONT> </P>

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


<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Equipment</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment
is stated at historical cost, net of accumulated depreciation and is depreciated using the straight-line method over the estimated
useful lives of the related assets, generally three years. Expenditures for maintenance and repairs, which do not extend the economic
useful life of the related assets, are charged to operations as incurred, and expenditures, which extend the economic life, are
capitalized. When assets are retired, or otherwise disposed of, the costs and related accumulated depreciation or amortization
are removed from the accounts and any gain or loss on disposal is recognized.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Impairment
of Long-Lived Assets</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company assesses the recoverability of its long-lived assets, including equipment when there are indications that the assets might
be impaired. When evaluating assets for potential impairment, the Company compares the carrying value of the asset to its estimated
undiscounted future cash flows. If an asset's carrying value exceeds such estimated cash flows (undiscounted and with interest
charges), the Company records an impairment charge for the difference. Based on its assessments, the Company did not record any
impairment charges for the years ended December 31, 2016 and 2015.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Demonstration
and Test Units</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Demonstration
units represent units provided to customers by the Company for marketing and patient evaluation purposes. These units are manufactured
by the Company and are recorded at cost in the statements of operations as part of selling, marketing and general administrative
expense. During the year ended December 31, 2016 and 2015 the Company charged to operations approximately $22,900 and $79,500,
respectively of these units.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Test
units represent units provided to research and development staff to use in their development process and to end users who are
given free units to act as testers so that research and development staff can evaluate and understand their use by patients. A
primary objective of these units is to determine when and under what conditions they fail, at which time they are analyzed for
cause of failure and then scrapped. These units are recorded at cost in the statements of operations as part of research and development
expense. During the year ended December 31, 2016 and 2015 the Company charged to operations approximately $48,000 and $58,000,
respectively of these units.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Accounts
Payable and Other Accrued Expenses:</B></FONT> </P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2016 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid"> 2015 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-family: Times New Roman,serif; text-align: left"> Trade payables </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="width: 9%; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 311,085 </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="width: 9%; font-family: Times New Roman,serif; text-align: right"> 138,603 </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> Accrual compensation and benefits </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 142,629 </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 71,610 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> Accrued sales commissions </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 79,001 </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 13,079 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> Accrued offering costs </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 77,326 </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> - </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> Other </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 103,969 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 126,553 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 714,010 </TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right"> 349,845 </TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
</TABLE>



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





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Preferred
Stock </B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company applies the accounting standards for distinguishing liabilities from equity under U.S. GAAP when determining the classification
and measurement of its convertible preferred stock. Preferred shares subject to mandatory redemption are classified as liability
instruments and are measured at fair value. Conditionally redeemable preferred shares (including preferred shares that feature
redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events
not solely within the Company&rsquo;s control) are classified as temporary equity. At all other times, preferred shares are classified
as permanent equity.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&rsquo;s preferred shares feature certain redemption rights that are considered by the Company to be outside the Company&rsquo;s
control. Accordingly, the Series A-1 Convertible Preferred Stock and Series B-1 Convertible Preferred Stock is presented as temporary
equity in the Company&rsquo;s balance sheets.</FONT> </P>

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


<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the issuance date, the carrying amount of the Preferred Stock was less than the redemption value. If the Preferred Stock is
redeemable at the investor&rsquo;s option, the carrying value would be increased by periodic accretions so that the carrying value
would equal the redemption amount at the earliest redemption date. Such accretion would be recorded as a preferred stock dividend.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Derivative
Liabilities </B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2016 and 2015, the Company issued warrants for an undeterminable number of common stock shares. The Company determined that these
warrants are derivative instruments pursuant to FASB ASC 815 &ldquo;Derivatives and Hedging.&rdquo; The accounting treatment of
derivative financial instruments requires that the Company record the warrants as a liability at fair value and mark-to-market
the instruments at fair values as of each subsequent balance sheet date. Any change in fair value is recorded as a change in the
fair value of derivative liabilities for each reporting period at each balance sheet date. The fair value of the warrants was
determined using the Binomial Lattice Model. The Company reassesses the classification at each balance sheet date. If the classification
changes as a result of events during the period, the contract is reclassified as of the date of the event that caused the reclassification.
As of December 31, 2016 and 2015, derivative liabilities were immaterial and were included as a component of accounts payable
and other accrued expenses on the balance sheet.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Revenue
Recognition</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company derives revenue primarily from the sale of its products to orthotics and prosthetics practices, as well as Veteran Administration
and other hospitals. The Company recognizes revenue upon shipment, provided that persuasive evidence of an arrangement exists,
there are no uncertainties regarding customer acceptance, the sales price is fixed or determinable, and collectability is deemed
probable.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company receives federally-funded grants that require the Company to perform research activities as specified in each respective
grant. The Company is paid based on the fees stipulated in the respective grants which approximate the projected costs to be incurred
by the Company to perform such activities. The Company&rsquo;s grant revenue is recognized when persuasive evidence of the arrangement
exists, the service has been provided and adherence to specific parameters of the awarded grant have been met, the amount is fixed
and determinable and collection is reasonable assured. The Company recognized approximately $20,800 and $131,900 of grant income
in 2016 and 2015, respectively. Direct costs related to these grants are reported as a component of research and development costs
in the statements of operations except for reimbursable costs which are reported as a component of cost of revenue in the statements
of operations. Cost of revenue includes reimbursable costs of approximately $10,100 and $66,000 in 2016 and 2015, respectively.
Amounts received in advance are deferred.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shipping
and Handling Costs </B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shipping
and handling costs paid by customers are netted against the related shipping costs we incur. The net cost is recorded in cost
of sales. Historically, such costs have not been material.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Income
Taxes</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounts for income taxes under Accounting Standards Codification ASC 740 Income Taxes (&ldquo;ASC 740&rdquo;). Under
ASC 740, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases
of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which
the differences are expected to impact taxable income. Valuation allowances are established when necessary to reduce deferred
tax assets to the amounts expected to be realized.</FONT> </P>

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


<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC
740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise&rsquo;s financial statements and
prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position
taken or expected to be taken in a tax return.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax
benefits claimed or expected to be claimed on a tax return are recorded in the Company&rsquo;s financial statements. A tax benefit
from an uncertain tax position is only recognized if it is more likely than not that the tax position will be sustained on examination
by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements
from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized
upon ultimate resolution. Uncertain tax positions have had no impact on the Company&rsquo;s financial condition, results of operations
or cash flows.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company files income tax returns in federal and state jurisdictions and is no longer subject to examinations by tax authorities
for years prior to 2013. Currently, there are no income tax audits in process.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Stock-Based
Compensation</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounts for options granted to employees by measuring the cost of services received in exchange for the award of equity
instruments based upon the fair value of the award on the date of grant. The fair value of that award is then ratably recognized
as expense over the period during which the recipient is required to provide services in exchange for that award.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Options
and warrants granted to consultants and other non-employees are recorded at fair value as of the grant date and subsequently adjusted
to fair value at the end of each reporting period until such options and warrants vest, and the fair value of such instruments,
as adjusted, is expensed over the related vesting period.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based
compensation expense of approximately $94,100 and $53,800 was recorded in selling, general and administrative expense in 2016
and 2015, respectively.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Net
Loss per Share </B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common
shares outstanding during the period. Diluted net loss per common share is computed by dividing net loss attributable to common
stockholders by the weighted average number of common shares outstanding, plus potentially dilutive common shares. Convertible
debt, preferred stock, restricted stock units, stock options and warrants are excluded from the diluted net loss per share calculation
when their impact is antidilutive. The Company reported a net loss for the years ended December 31, 2016 and 2015, and as a result,
all potentially dilutive common shares are considered antidilutive for these periods.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Potentially
common shares issuable at December 31, 2016 and 2015 consist of</FONT> </P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2016 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2015 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-family: Times New Roman,serif"> Options </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; font-family: Times New Roman,serif; text-align: right"> 246,344 </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; font-family: Times New Roman,serif; text-align: right"> 272,494 </TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif"> Warrants </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 10,781 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 10,781 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> Series B-1 convertible preferred stock </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 1,662,104 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif"> &nbsp; </TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; text-align: right"> 1,662,104 </TD><TD STYLE="font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left; padding-bottom: 1.5pt"> Series A-1 convertible preferred
    stock </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 960,083 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right"> 960,083 </TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt"> Total </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 2,879,312 </TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-family: Times New Roman,serif; font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; font-weight: bold; text-align: right"> 2,905,462 </TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; font-weight: bold; text-align: left"> &nbsp; </TD></TR>
</TABLE>



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


<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Advertising</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company charges the costs of advertising to operating expenses as incurred. Advertising expense amounted to approximately $41,600
and $119,700 in 2016 and 2015, respectively.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Research
and Development Costs</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company expenses research and development costs as incurred. Research and development costs primarily consist of salaries and
benefits, facility and overhead costs, and outsourced research activities.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Recent
Accounting Pronouncements </B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
May 2014, the Financial Accounting Standards Board (&ldquo;FASB&rdquo;) issued Accounting Standards Update No. 2014-09, &ldquo;Revenue
from Contracts with Customers,&rdquo; (&ldquo;ASU 2014-09&rdquo;). ASU 2014-09 supersedes the revenue recognition requirements
in ASC 605 - Revenue Recognition and most industry-specific guidance throughout the ASC. The standard requires that an entity
recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration
to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 should be applied retrospectively
to each prior reporting period presented or retrospectively with the cumulative effect of initially applying ASU 2014-09 recognized
at the date of initial application. To allow entities additional time to implement systems, gather data and resolve implementation
questions, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,
in August 2015, to defer the effective date of ASU No. 2014-09 for one year, which is fiscal years beginning after December 15,
2017. The Company is currently evaluating the impact of the adoption of ASU 2014-09 on its financial statements or disclosures.
In addition, the FASB issued ASU 2016-08 in March 2016, to help provide interpretive clarifications on the new guidance in ASC
Topic 606. The Company is currently evaluating the accounting, transition, and disclosure requirements of the standard to determine
the impact, if any, on its financial statements.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
August 2014, the FASB issued ASU No. 2014-15, &ldquo;Presentation of Financial Statements &ndash; Going Concern (Subtopic 205-40):
Disclosure of Uncertainties about an Entity&rsquo;s Ability to Continue as a Going Concern&rdquo; (&ldquo;ASU 2014-15&rdquo;).
ASU 2014-15 explicitly requires management to evaluate, at each annual or interim reporting period, whether there are conditions
or events that exist which raise substantial doubt about an entity&rsquo;s ability to continue as a going concern and to provide
related disclosures. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and annual and interim periods
thereafter, with early adoption permitted. The adoption of ASU No. 2014-15 impacted disclosure in the Company&rsquo;s
financial statements, but did not have any impact on the Company&rsquo;s financial position or results of operations.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
April 2015, the FASB issued ASU No. 2015-03, &quot;Simplifying the Presentation of Debt Issuance Costs, (&ldquo;ASU 2015-03&rdquo;).
This standard amends existing guidance to require the presentation of debt issuance costs in the balance sheet as a deduction
from the carrying amount of the related debt liability instead of a deferred charge. It is effective for annual reporting periods
beginning after December 15, 2015, but early adoption is permitted. The adoption of ASU 2015-03 did not have a material impact
on the Company&rsquo;s financial statements.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>


<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
July 2015, the FASB issued ASU No. 2015-11, &ldquo;Inventory (Topic 330): Simplifying the Measurement of Inventory,&rdquo; (&ldquo;ASU
2015-11&rdquo;). ASU 2015-11 amends the existing guidance to require that inventory should be measured at the lower of cost and
net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably
predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using
last-in, first-out or the retail inventory method. ASU 2015-11 is effective for fiscal years beginning after December 15, 2016,
including interim periods within those fiscal years. The Company is currently evaluating the effects of ASU 2015&ndash;11 on its
financial statements.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
November 2015, the FASB issued ASU No. 2015-17, &ldquo;Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes&rdquo;
(&ldquo;ASU 2015-17&rdquo;). The FASB issued ASU 2015-17 as part of its ongoing Simplification Initiative, with the objective
of reducing complexity in accounting standards. The amendments in ASU 2015-17 require entities that present a classified balance
sheet to classify all deferred tax liabilities and assets as a noncurrent amount. This guidance does not change the offsetting
requirements for deferred tax liabilities and assets, which results in the presentation of one amount on the balance sheet. Additionally,
the amendments in ASU 2015-17 align the deferred income tax presentation with the requirements in International Accounting Standards
(IAS) 1, Presentation of Financial Statements. The amendments in ASU 2015-17 are effective for financial statements issued for
annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company does not anticipate
that the adoption of ASU 2015-17 will have a material impact on its financial statements.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
February 2016, the FASB issued ASU No. 2016-02, &ldquo;Leases (Topic 842)&rdquo; (&ldquo;ASU 2016-02&rdquo;). ASU 2016-02 requires
an entity to recognize assets and liabilities arising from a lease for both financing and operating leases. ASU 2016-02 will also
require new qualitative and quantitative disclosures to help investors and other financial statement users better understand the
amount, timing, and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years beginning after December
15, 2018, with early adoption permitted. The Company is currently evaluating ASU 2016-02 and its impact on its financial statements.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
March 2016, the FASB issued ASU No. 2016-08, &ldquo;Revenue from Contracts with Customers - Principal versus Agent Considerations.&rdquo;
This update provides clarifying guidance regarding the application of ASU No. 2014-09 - Revenue from Contracts with Customers
when another party, along with the reporting entity, is involved in providing a good or a service to a customer. In these circumstances,
an entity is required to determine whether the nature of its promise is to provide that good or service to the customer (that
is, the entity is a principal) or to arrange for the good or service to be provided to the customer by the other party (that is,
the entity is an agent). The amendments in the Update clarify the implementation guidance on principal versus agent considerations.
The update is effective, along with ASU 2014-09, for annual and interim periods beginning after December 15, 2017. The adoption
of ASU 2016-08 is not expected to have a material impact on the financial statements or disclosures.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
March 2016, the FASB issued ASU No. 2016-09, &ldquo;Compensation &ndash; Stock Compensation (Topic 718)&rdquo; (&ldquo;ASU 2016-09&rdquo;).
ASU 2016-09 requires an entity to simplify several aspects of the accounting for share-based payment transactions, including the
income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash
flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, with early adoption permitted. The Company
is currently evaluating ASU 2016-09 and its impact on its condensed financial statements or disclosures.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>


<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 9, 2016, the FASB issued ASU No. 2016-12, &ldquo;Revenue from Contracts with Customers (Topic 606)&rdquo; (&ldquo;ASU 2016-12&rdquo;).
ASU 2016-12 provides clarifying guidance in a few narrow areas and adds some practical expedients to the guidance. The effective
date and transition requirements for this ASU are the same as the effective date and transition requirements for ASU 2014-09.
The Company is evaluating the effect of ASU 2014-09, if any, on its financial statements.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts
and Cash Payments,&rdquo; which addresses the diversity in practice in how certain cash receipts and cash payments are
presented and classified in the statement of cash flows with respect to eight specific cash flow issues. The new standard is
effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The amendments
should be applied using a retrospective transition method to each period presented, if practical. Early adoption is
permitted, including the interim period, and any adjustments should be reflected as of the beginning of the fiscal period.
The Company is currently evaluating ASU 2016-15 and  its impact on its financial statements or
disclosures.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
November 2016, the FASB issued ASU 2016-18, &ldquo;Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the
FASB Emerging Issues Task Force)&rdquo;, which clarifies how entities should present restricted cash and restricted cash
equivalents in the statement of cash flows, and as a result, entities will no longer present transfers between cash and cash
equivalents and restricted cash and restricted cash equivalents in the statement of cash flows. An entity with a material
balance of restricted cash and restricted cash equivalents must disclose information about the nature of the restrictions.
The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15,
2017. Early adoption is permitted and the new guidance must be applied retroactively to all periods presented. The Company
does not expect the adoption of ASU 2016-18 to have a significant impact on its financial statements or
disclosures.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Subsequent
Events</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company evaluated subsequent events through March 27, 2017, the date the financial statements were issued, and determined that, except as disclosed herein, there have been no subsequent events that would require recognition
in the financial statements or disclosure in the notes to the financial statements.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
4 - Inventories</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories
consist of the following at December 31:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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="text-align: center"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2016 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> 2015 </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left"> Finished goods </TD><TD STYLE="width: 1%; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left"> $ </TD><TD STYLE="width: 9%; font-weight: bold; text-align: right"> 81,223 </TD><TD STYLE="width: 1%; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 186,236 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Parts and components </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 1,212 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 16,787 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 82,435 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 203,023 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Less: finished goods,-non-current </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> - </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (105,000 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> 82,435 </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 98,023 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
5 - Equipment</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment
consists of the following at December 31:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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="text-align: center"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"> 2016 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> 2015 </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left"> Computer equipment </TD><TD STYLE="width: 1%; font-weight: bold"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left"> $ </TD><TD STYLE="width: 9%; font-weight: bold; text-align: right"> 19,258 </TD><TD STYLE="width: 1%; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 19,018 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Tools and molds </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> 22,650 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> 22,650 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right"> 41,908 </TD><TD STYLE="font-weight: bold; text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 41,668 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> Less: accumulated depreciation </TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"> (20,345 </TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> (14,239 </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt"> Total equipment, net </TD><TD STYLE="font-weight: bold; padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> 21,563 </TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 4pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> 27,429 </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
6 - Note Payable, Bank</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company had a $500,000 credit facility with a bank. The credit facility was used for short-term working capital requirements.
Advances under the credit facility were due on demand, bore interest at the Prime Rate plus 1% and were secured by substantially
all of the assets of the Company. Advances under the credit facility were limited to the lesser of $500,000 or the aggregate of
80% of eligible accounts receivable, as defined. The credit facility matured on March 8, 2015 at which time the outstanding principal
and accrued but unpaid interest were paid in-full. The Company elected not to renew the credit facility.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>


<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
7 - Notes Payable, MLSC</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
payable, MLSC represent promissory notes in the aggregate amount of $750,000 entered into with the Massachusetts Life Sciences
Center (&quot;MLSC&quot;). The promissory notes are unsecured and bear interest at the rate of 10% per annum. The principal and
accrued interest is due and payable upon the earlier of (i) June 7, 2016, (ii) the closing of a qualified financing in a single
transaction or series of transactions in any 12 month period yielding net proceeds of at least $5,000,000 or a qualified sale,
as defined in the promissory notes, or (iii) the occurrence of a default, as defined in the promissory notes.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, in connection with the issuance of the promissory notes to MLSC, the Company issued warrants that are exercisable immediately
at the election of the holder on a net share cashless basis or for $30,000 as calculated in the formula defined in the agreement
($750,000 aggregate principal amount multiplied by 4%). The warrants have a life of 10 years. On the date of issuance the maximum
number of shares of stock to be acquired under the warrants is determined by the formula and amounted to 6,077 shares. The holder
of the warrant has the option to exercise into equity instruments of the Company under the following four scenarios:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
    common stock at the exercise price equal to $2,500,000 divided by the number of shares of common stock outstanding on the
    issuance date of the warrants; or</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
    common stock during the ten-year life of the warrant the Company sells shares of common stock at a price less than the exercise
    price described in scenario (1) above, that becomes the new exercise price for common stock; or</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
    any class or series of preferred stock sold by the Company during the ten-year life of the warrants at the preferred stock
    issuance price; or </FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
    the equity interests sold in a qualified financing (as defined) during the ten-year life of the warrants at the qualified
    financing price per share of the equity interests.</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounted for the issuance of the note in accordance with ASC 815 &ldquo;Derivatives and Hedging&rdquo;. The warrants
have a feature that included a reset provision considered to be a down-round protection. Accordingly, the warrants were recorded
as derivative liabilities at fair value and are marked to market through earnings at the end of each reporting period. The gross
proceeds from the issuance of the note are recorded net of a discount and is charged to interest expense ratably over the term
of the note. On the date of issuance the debt discount was deemed to be immaterial.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 18, 2016, the Company restructured its promissory note with MLSC, extending the maturity date to June 7, 2017. The outstanding
principal amount of the note now includes the principal amount and all accrued but unpaid interest thereon in the amount of approximately
$1,194,000. The note bears interest at 10% per annum with accrued interest payable quarterly which began on September 30, 2016,
and is secured by substantially all the Company&rsquo;s assets. The Company did not recognize a gain or loss with the modification
of this note and no other terms of the notes changed.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
8 - Notes Payable, Shareholder</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
payable, shareholder represents promissory notes in the aggregate amount of approximately $580,800 entered into with one of the
Company&rsquo;s shareholders. The promissory notes were unsecured, bore interest at a rate of 10% per annum, and were set to mature
on May 25, 2016 at which time principal and accrued interest was due and payable.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>


<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 9pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, in connection with the issuance of the promissory notes to a shareholder, the Company issued warrants that are exercisable
immediately at the election of the holder on a net share cashless basis or for cash totalling $23,232 ($580,800 aggregate original
principal amount of notes multiplied by 4%) as calculated in the formula defined in the agreement. The warrants have a life of
10 years. On the date of issuance the maximum number of shares of stock to be acquired under the warrants is determined by the
formula and amounted to 4,706 shares. The holder of the warrant has the option to exercise into equity instruments of the Company
under the following four scenarios:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
    common stock at the exercise price equal to $2,500,000 divided by the number of shares of common stock outstanding on the
    issuance date of the warrants; or</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">if
    during the ten-year life of the warrant the Company sells shares of common stock at a price less than the exercise price determined
    at (1) above, that becomes the new exercise price for common stock; or</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
    any class or series of preferred stock sold by the Company during the ten-year life of the warrants at the preferred stock
    issuance price; or </FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
    the equity interests sold in a qualified financing (as defined) during the ten-year life of the warrants at the qualified
    financing price per share of the equity interests.</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounted for the issuance of the notes in accordance with ASC 815 &ldquo;Derivatives and Hedging&rdquo;. The warrants
have a feature that included a reset provision considered to be a down-round protection. Accordingly, the warrants were recorded
as derivative liabilities at fair value and are marked to market through earnings at the end of each reporting period. The gross
proceeds from the sale of the note are recorded net of a discount and is charged to interest expense ratably over the term of
the note. On the date of issuance the debt discount was deemed to be immaterial.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
September 1, 2015, the Company reached an agreement with the shareholder to modify the terms of the promissory notes. The promissory
notes were amended and restated to include approximately $295,700 of accrued and unpaid interest resulting in a total principal
amount of approximately $876,500. The amended and restated promissory notes are unsecured, bear interest at a rate of 10% per
annum, and mature on August 1, 2018. Any accrued and unpaid interest through September 1, 2016 were converted into principal.
The promissory notes required monthly payments of principal and interest in the aggregate amount of approximately $44,500 commencing
on September 1, 2016 through August 1, 2018. The Company did not recognize a gain or loss with the modification of this note.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 29, 2016, prior to the maturity date, the Company reached an agreement with a shareholder to modify the terms of its promissory
notes from the Company. The amended and restated promissory notes are unsecured, bear interest at a rate of 10% per annum, and
are subordinated to the Note Payable, MLSC and the Company&rsquo;s convertible subordinated promissory notes. The outstanding
principal and any accrued but unpaid interest shall be due and payable upon the earlier of (i) June 7, 2017 or (ii) within 30
days following the closing of a Qualified Financing, as defined. In the event of a closing of a Qualified Financing, the Company
may elect, in its sole discretion, to repay up to 50% of the outstanding principal and any accrued but unpaid interest as shall
be due and payable under this note as of the date of the Qualified Financing by issuing shares of the Company&rsquo;s equity issued
in the Qualified Financing, equal to 80% of the price per share paid by the purchasers of such equity in the Qualified Financing.
The Company did not recognize a gain or loss with the modification of this note.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
9 - Convertible Promissory Notes 2016</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year-ended December 31, 2016, the Company issued convertible promissory notes (Notes) with an aggregate principal balance
of $2,372,000 as of December 31, 2016. The Notes bear an interest rate of 8% per annum and mature on December 31, 2018, at which
time the principal and any accrued but unpaid interest will be due and payable on demand. The Notes are subordinated to notes
payable, MLSC. In the event the Company consummates, prior to the Maturity Date, an equity financing pursuant to which the Company
sells common stock, preferred stock or other equity or equity-linked securities with aggregate gross proceeds of not less than
$5 million, excluding any and all indebtedness under the Notes that is converted into equity securities of the Company, the outstanding
principal of the Notes and any accrued but unpaid interest will be converted into the equity securities upon the closing of the
Next Equity Financing, as defined, yielding gross proceeds of at least $5,000,000.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 9pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
number of shares of equity securities of the Company to be issued upon such conversion shall be equal to the quotient obtained
by dividing the entire principal amount plus accrued interest by the lower of (i) a price per share equal to $35,000,000 divided
by the aggregate number of shares of capital stock outstanding on a fully diluted basis immediately prior to the initial closing
of the Qualified Financing, as defined, and (ii)&nbsp;eighty percent (80%) of the price per share of the equity securities being
sold. In the event of a sale of the Company, as defined, prior to the conversion or repayment in full of these notes, a cash payments
will be made equal to the aggregate amount of principal and accrued, but unpaid, interest then outstanding under these notes.
In addition, an amount equal to 25% of the original principal amount of the notes will be paid to the note holder as a &ldquo;Sale
Premium&rdquo;.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the issuance of the convertible promissory notes, the Company issued warrants to purchase common stock to the
holders of the new convertible promissory notes. The number of shares of stock to be acquired under the warrants, after this additional
issuance is determined by a formula which amounts to 100% of the principal amount invested divided by the lowest price paid per
share for the equity securities by the investors in the Next Equity Financing.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
accordance with ASC 470-20-25-20 &quot;Contingent Conversion Option&quot; the conversion terms of the convertible note would be
triggered by future events not controlled by the issuer shall be accounted for as contingent conversion options. The Company determined
that the future equity is analogous to an IPO and considered to be a contingency outside the control of the holder. Accordingly
the Company will evaluate any discounts and or, any beneficial conversion features upon the resolution of the contingency. In
addition, the terms of the warrants have not yet been defined and are contingently issued upon the terms of the Next Equity Financing.
The Company will also evaluate the fair value of the warrants on the date the contingency is triggered.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2016, the Company had capitalized deferred issuance costs of $20,800 relating to 2016 convertible promissory notes
and had amortized $3,000 to interest expense in the statements of operations. Debt issuance costs are comprised of incremental
legal and accounting fees related to the issuance of convertible promissory notes. Debt issuance costs are amortized over the
life of the related debt instrument. Net debt issuance costs are included in the balance sheets as a reduction (debt discount)
of the related convertible promissory notes.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 3, 2016, the Company modified the terms of the 2016 Convertible Note Offering (issued beginning in June 2016) such that
the automatic conversion of the Notes will additionally require that the Next Equity Financing be a public equity financing.&nbsp;
In addition, the prepayment terms of the Notes were modified such that consent of the holder of the Note is required for any prepayment,
in whole or in part, by the Company, and the Company is obligated to offer to the holders of all other then-outstanding Notes
the opportunity to be prepaid on the same terms and conditions.&nbsp; Finally, the Sales Premium, 25% of the original principal
amount of the Notes, was modified such that if the amount that a Holder would have received upon the repayment of the Note upon
a Sale of the Company, including the Sales Premium, is less than the amount that the Holder would have received if it had converted
into shares of Common Stock the outstanding principal amount plus accrued but unpaid interest on the Note divided by the Capped
Conversion Price, as defined, immediately prior to the Sale of the Company, then the Note shall automatically convert into shares
of Common Stock in accordance with such formula.&nbsp; On October 12, 2016, the Company issued a Note in the original principal
amount of $1,000,000 to one Holder on such modified terms. The Company offered the then other Holders the right to exchange their
original Notes for Notes with such modified terms. Since a majority of the other Holders approved the new terms, under the terms
of the notes, the Company has issued to all Holders amended and restated notes with the modified terms to replace the terms of
the original notes. The Company did not recognize a gain or loss with the modification of the notes.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2016, as described in Note 10, $630,000 of Convertible Promissory Notes 2015 were exchanged for these notes, resulting
in a total of $3,002,000 outstanding as of December 31, 2016. Subsequent to December 31, 2016, the holders of $400,000 of Convertible
Promissory Notes 2015 also agreed to exchange their notes.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
10 - Convertible Promissory Notes 2015</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company issued convertible promissory notes with an aggregate principal balance of $425,000 in 2015 and an additional $605,000
in 2016, for a total of $1,030,000. The notes are subordinated to the Note Payable, MLSC, bear interest at a rate of 8% per annum,
and mature in December 2017. Prior to December 2017 and at the option of the holders of the convertible promissory notes, the
outstanding principal, and any accrued, may be converted into equity securities of the Company upon the closing an equity financing,
as defined, yielding gross proceeds of at least $5,000,000. The outstanding principal balance and any accrued interest are convertible
into shares of equity securities sold in the next equity financing at a price per share equal to 85% of the lowest price per share
during the equity financing. In addition, the holders of the notes are entitled to an additional payment equal to 10% of the original
principal amount of the convertible promissory notes if held on the maturity date.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the issuance of the convertible promissory notes, the Company issued warrants to purchase common stock that are
exercisable at any time beginning on the date of a future equity financing, as defined in the agreement, and ending on the five
year anniversary thereof. The number of shares of stock to be acquired under the warrants is determined by a formula which equals
15% of the amount invested divided by the lowest price paid per share for the equity securities by the investors in the equity
financing as defined in the agreement.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>


<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">&nbsp;</FONT> </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
accordance with ASC 470-20-25-20 &quot;Contingent Conversion Option&quot; the conversion terms of a convertible note that would
be triggered by future events not controlled by the issuer are accounted for as contingent conversion options. The Company determined
that the future equity financing is analogous to an IPO and considered to be a contingency outside the control of the holder.
Accordingly, the Company will evaluate any discounts and or any beneficial conversion features upon the resolution of the contingency.
In addition, the terms of the warrants have not yet been defined and are contingently issued upon the terms of the future equity
financing. The Company will also evaluate the fair value of the warrants on the date the contingency is triggered.</FONT> </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the fourth quarter of 2016, the Company offered the Holders of its 2015 Convertible promissory notes (issued from December 2015
through April 2016) the right to exchange their notes for 2016 Convertible Notes by cancelling an equivalent amount of outstanding
existing notes. These 2016 Convertible Notes were issued on otherwise the same terms and conditions as the participants in the
2016 Convertible Notes offering who paid the purchase price in cash. Holders of the prior notes were able to also retain the warrants
issued to them in conjunction with the prior notes. As of December 31, 2016, an aggregate of $630,000 of Prior Notes were cancelled
in exchange for the issuance of an equivalent principal amount of new notes in the financing. Subsequent to December 31, 2016,
the holders of $400,000 of Prior Notes agreed to exchange their Prior Notes; therefore the remaining Prior Notes were cancelled
in exchange for the issuance of an equivalent principal amount of new notes in the financing. The Company did not recognize a
gain or loss the exchange of the notes.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
11 &ndash; Maturities of Long-term Debt</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annual
principal maturities of long-term debt at December 31, 2016 are as follows:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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; background-color: White">
    <TD STYLE="width: 87%; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
    ending December 31, 2017</FONT> </TD><TD STYLE="width: 1%; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD><TD STYLE="width: 9%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,193,984</FONT> </TD><TD STYLE="width: 1%; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2018</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,402,000</FONT> </TD><TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</FONT> </TD><TD STYLE="text-align: left; padding-bottom: 1.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="text-align: right; border-bottom: Black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,595,984</FONT> </TD><TD STYLE="text-align: left; padding-bottom: 1.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less:
    debt net issuance costs</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 1.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(17,765</FONT> </TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 4pt; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD><TD STYLE="padding-bottom: 4pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,578,219</FONT> </TD><TD STYLE="padding-bottom: 4pt; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
12 - Fair Value of Financial Instruments</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company measures the fair value of financial assets and liabilities based on the guidance of ASC 820 &ldquo;Fair Value Measurements
and Disclosures&rdquo; (&ldquo;ASC 820&rdquo;) which defines fair value, establishes a framework for measuring fair value, and
expands disclosures about fair value measurements.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC
820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price)
in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants
on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable
inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may
be used to measure fair value:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
    1 - Quoted prices available in active markets for identical assets or liabilities trading in active markets.</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
    2 - Observable inputs other than quoted prices included in Level 1, such as quotable prices for similar assets and liabilities
    in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other
    inputs that are observable or can be corroborated by observable market data.</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
    3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the
    assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar valuation techniques
    that use significant unobservable inputs.</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative
liabilities (see Note 17) measured at fair value on a recurring basis at December 31, 2016 were nominal, and at
December 31, 2015 were as follows:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> In Active Markets for Identical Assets or <BR> Liabilities </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Significant Other Observable <BR> Inputs </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Significant Unobservable Inputs </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Dec 31, <BR>
    2015 </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> (Level 1) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> (Level 2) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> (Level 3) </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> Total </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 52%"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> &nbsp; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> &nbsp; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> &nbsp; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> &nbsp; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Common stock warrant liabilities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp;&nbsp;&nbsp;&nbsp;- </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 2,329 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 2,329 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table presents the fair value reconciliation of Level 3 liabilities measured at fair value during the year ended December
31, 2016 and 2015:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; padding: 0; text-indent: 0"> Common <BR> stock </TD>
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"> <B>&nbsp;</B> </TD>
    <TD STYLE="font-weight: bold; text-align: center; padding: 0; text-indent: 0"></TD><TD STYLE="padding: 0; text-align: center; text-indent: 0"> <B>&nbsp;</B> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: center; text-indent: 0"> <B>warrant</B> <BR> <B>liability</B> </TD>
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; padding: 0; text-indent: 0"> Balance &ndash; January 1, 2015 </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 10,360 </TD>
    <TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Change in fair value of derivative liabilities </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> (8,031 </TD>
    <TD STYLE="padding: 0; text-indent: 0"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0"> Balance &ndash; December 31, 2015 </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 2,329 </TD>
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Change in fair value of derivative liabilities </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> (2,329 </TD>
    <TD STYLE="padding: 0; text-indent: 0"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0"> Balance &ndash; December 31, 2016 </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> &nbsp;&nbsp;&nbsp;&nbsp;- </TD>
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&rsquo;s other financial instruments include cash and cash equivalents and accounts receivable, which management believes
approximates fair value due to the short-term nature of these instruments. The Company&rsquo;s trade payables and notes payable
for which the carrying value approximates fair value, as the notes bear terms and conditions comparable to market for obligations
with similar terms and maturities.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
&ndash; 13 Fair Value of Common Stock December 31, 2016, and 2015</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounts for equity-based compensation in accordance with the fair value provisions of ASC Topic 718. The Company's common
stock is not listed on any exchange and, accordingly, the Company hired an independent valuation specialist to assist the Company
in arriving at an estimated fair value of the Company's outstanding securities as of December 31, 2016 and 2015.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company, with the assistance of an independent appraiser, considered the following factors in preparing its fair value analyses
of the common stock as of December 31, 2016 and 2015:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
    in and uncertainties with respect to, regional, national and international economic conditions;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Company's Enterprise Value using a similar transactions method;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Company's ability to access the debt and equity capital markets;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    relevant factors such as control premiums or discounts for lack of marketability.</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company used the market approach to arrive at an estimated fair value of the Company&rsquo;s equity instruments as of December
31, 2015. Under the market approach, the Company used the back solve method under the option-pricing method (&ldquo;OPM&rdquo;)
framework. The OPM uses the Black-Scholes model to value the common and preferred stock as call options on the equity value. Within
this framework, the Company used the Series B-1 preferred stock transaction price to estimate the fair value of the Company&rsquo;s
equity as of December 31, 2015.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company used the discounted cash flow method under the income approach to estimate the fair value of the Company&rsquo;s equity
as of December 31, 2016. Equity value was allocated using the OPM.</FONT> </P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company used the OPM to determine the relative fair values of its equity securities. As of December 31, 2016 and 2015 the significant
assumptions used in this model was as follows:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> 2016 </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> 2015 </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> Market value </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.0
                                         million</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7
                                         million</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 75%"> Volatility </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 81 </TD><TD STYLE="width: 1%; text-align: left"> % </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 78 </TD><TD STYLE="width: 1%; text-align: left"> % </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Time to liquidity </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.0
                                         years</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.5
                                         years</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Risk free rate </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 0.58 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1.43 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Discount for lack of marketability </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 26 </TD><TD STYLE="text-align: left"> % </TD><TD> &nbsp; </TD>
    </TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market value of the Company&rsquo;s equity as of December 31, 2015 was determined using the OPM to back solve to the price established
by a transaction in the Company&rsquo;s Series B-1 Preferred Stock. The assumed time-to-liquidity was 2.50 years as of December
31, 2015, based on management&rsquo;s estimate. The assumed volatility was derived from historical volatilities of guideline public
companies and was determined to be 78% as of December 31, 2015. An incremental discount for lack of marketability (DLOM) was applied
to the value indicated for the common stock. The DLOM was estimated using a put option model and was estimated to be 26%.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #222222">The
market value of the Company&rsquo;s equity as of December 31, 2016 was determined using the discounted cash flow method. Equity
value was allocated using a hybrid method. A hybrid method is a probability-weighted expected returns method which uses the OPM
in at least once scenario. Two scenarios were considered: an OPM and a second scenario in which the preferred securities convert
to common stock in conjunction with a Reg A offering. For the OPM</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
assumed time-to-liquidity was 2.00 years as of December 31, 2016, based on management&rsquo;s estimate. The assumed volatility
was derived from historical volatilities of guideline public companies and was determined to be 81% as of December 31, 2016. The
DLOM was estimated using a put option model and was estimated to be 25%.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white; color: #222222"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2016 and,2015 the fair value of the Company&rsquo;s outstanding securities was as follows:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 2016 </TD><TD STYLE="padding: 0; font-weight: bold; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 2015 </TD><TD STYLE="padding: 0; font-weight: bold; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding: 0; text-indent: 0"> Common Stock </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 1.04 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 0.86 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Series B-1 Preferred Stock </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 4.06 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 4.48 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Series A-1 Preferred Stock </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 1.25 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 1.76 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
14 - Common Stock</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
December 20, 2016, the Company filed with the State of Delaware the Seventh Amended and Restated Certificate of Incorporation
for a one-for sixteen reverse stock split of the Company&rsquo;s outstanding common and preferred stock. In addition, the Company
also amended its authorized shares to be issued to (i) 5,600,000 shares of Common Stock, $0.0001 par value per share, and (ii)
4,100,000 shares of Preferred Stock, $0.0001 par value per share.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
December 31, 2016 the Company has authorized 5,600,000 shares of common stock with a par value of $0.0001 per share, of which
2,622,187 are reserved for issuance in connection with the conversion of Series A-1 Preferred Stock and Series B-1 Preferred Stock
and 806,313 shares are reserved for issuance upon the exercise of stock options under the 2004 Stock Option and Incentive Plan
and the 2014 Stock Option and Grant Plan. At December 31, 2016, 1,124,888 shares of common stock were issued and 1,124,080 were
outstanding.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2016 and 2015, the Company issued 124,456 and 458 shares of common stock through the exercise of stock
options for proceeds of $2,873 and $17, respectively.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2016 the Company has outstanding 253,783 shares of restricted common stock previously issued to key executives
of the Company. The restricted common stock included provisions for lapsing forfeiture rights that extended up to 48 months. As
of December 31, 2016, 2,626 shares of common stock were subject to forfeiture. The stock compensation expense is being amortized
over the respective vesting periods. At December 31, 2016, the unamortized stock compensation expense was approximately $2,300
and is expected to be recognized over 0.08 years. The Company recorded a charge of approximately $27,300 and $39,400 for the years
ended December 31, 2016 and 2015, respectively.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
15 - Treasury Stock</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Treasury
stock is reported at cost and consists of 808 shares of common stock as of December 31, 2016 and 2015.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
16 - Redeemable Preferred Stock</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table below summarizes the authorized, issued and outstanding Preferred Stock as of December 31, 2016:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Liquidation </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Preference </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Shares </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Dividend </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Including </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Shares </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Issued and </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Par Value </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Cumulative </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Arrearage </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> Dividend </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> Authorized </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> Outstanding </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> per Share </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> Dividends </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> Per Share </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"> Arrearage </TD><TD STYLE="padding-bottom: 1.5pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 28%; text-align: left"> Series B-1 Preferred Stock </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 1,862,500 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right"> 1,662,104 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 0.0001 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 1,495,127 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 0.90 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 9,701,313 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Series A-1 Preferred Stock </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,594,958 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 960,083 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 0.0001 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 4,740,066 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table below summarizes the authorized, issued and outstanding Preferred Stock as of December 31, 2015:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> Liquidation </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> Preference </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> Shares </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> Dividend </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> Including </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> Shares </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> Issued and </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> Par Value </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> Cumulative </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> Arrearage </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0"> Dividend </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Authorized </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Outstanding </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> per Share </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Dividends </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Per Share </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Arrearage </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 28%; text-align: left; padding: 0; text-indent: 0"> Series B-1 Preferred Stock </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 1,862,500 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 1,662,104 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 0.0001 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 836,834 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 0.50 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 9,043,020 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Series A-1 Preferred Stock </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 1,594,958 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 960,083 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 0.0001 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 4,740,066 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Series
B-1 Redeemable Convertible Preferred Stock</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2015, the Company issued 330,476 shares of Series B-1 Preferred Stock at a price of $4.93696 per share
for net proceeds of approximately $1,625,000. Issuance costs incurred were approximately $6,100.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2016 and 2015, the Company has issued and outstanding 1,662,104 shares of Series B-1 Preferred Stock.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Conversion</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
share of Series B-1 Preferred Stock is convertible, at the holder's option, into shares of Common Stock as determined by the applicable
preferred conversion rate set forth in the Company&rsquo;s Seventh Amended and Restated Certificate of Incorporation. The initial
conversion rate is one share of Common Stock for each share of Series B-1 Preferred Stock subject to anti-dilution and other adjustments
as set forth in the Restated Certificate. Mandatory conversion will occur upon (i) the closing of the sale of Common Stock, in
a firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933,
as amended, resulting in $15,000,000 of gross proceeds to the Company in which the price of the Common Stock to the public is
at least three times the Series B-1 Original Issue Price per share or (ii) the date and time, or the occurrence of an event, specified
by vote or written consent of the holders of at least a majority of the then outstanding shares of Series B-1 Preferred Stock,
voting together as a single class on an as-converted basis.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 23, 2016, the holders of the Company&rsquo;s preferred stock, voting together as a single class on an as-converted basis,
agreed to deem the closing of the Company&rsquo;s initial public offering as the condition for the mandatory conversion of the
Company&rsquo;s preferred stock upon the terms and conditions set forth in the Company&rsquo;s then Sixth Amended and Restated
Certificate of Incorporation, as may be amended and/or restated from time to time.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Dividends</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">From
and after the date of the issuance of Series B-1 Preferred Stock, dividends shall accrue on shares of Series B-1 Preferred Stock
at a rate per annum of $0.3949568 per share, subject to appropriate adjustment in the event of any stock dividend, stock split,
combination or other similar recapitalization with respect to the Series B-1 Preferred Stock. The Accruing Dividends shall accrue
from day to day, whether or not declared, and shall be cumulative, provided that such Accruing Dividends shall be payable only
when as, and if declared by the Board. The Company may not declare, pay or set aside any dividends on shares of any other class
or series of capital stock, including Common Stock (other than dividends on shares of Common Stock payable in shares of Common
Stock) unless the holders of Series B-1 Preferred Stock shall first or simultaneously receive a dividend on all outstanding shares
of Series B-1 Preferred Stock on the terms set forth in the Restated Certificate and the holders of Series A-1 Preferred Stock
shall first or simultaneously receive a dividend on all outstanding shares of Series A-1 Preferred Stock on the terms set forth
in the Restated Certificate, in a per share amount equal (on an as-if-converted to Common Stock basis) to the amount paid for
each share of Common Stock.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Liquidation
Preference</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event of any liquidation, dissolution or winding up of Myomo, the holders of the Series B-1 Preferred Stock have a liquidating
preference over the holders of Series A-1 Preferred Stock and Common Stock. The holders of Series B-1 Preferred Stock are entitled
to receive an amount equal the Series B-1 Original Issue Price plus Accruing Dividends accrued but unpaid thereon, whether or
not declared, together with any other dividends declared but unpaid thereon (&ldquo;Series B-1 Liquidation Preference&rdquo;).
If upon any such liquidation, dissolution or winding up of Myomo, the assets available for distribution to the stockholders shall
be insufficient to pay the Series B-1 Liquidation Preference, the holders of Series B-1 Preferred Stock shall share ratably in
any distribution of assets available for distribution in proportion to the respective amounts which would otherwise be payable
in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid
in full.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
remaining assets available for distribution to the shareholders shall be distributed among the holders of Series A-1 Preferred
Stock, Series A-1 Preferred Stock and Common Stock, pro rata based on the number of shares held by each such holder, treating
for this purpose all such securities as if they had been converted to Common Stock immediately prior to such dissolution, liquidation
or winding up of Myomo.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Redemption</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
holders of Series B-1 Preferred Stock may elect, but not prior to July 22, 2019, to require the Company to redeem all of the outstanding
shares of Series B-1 Preferred Stock. The holders of Series B-1 Preferred Stock will be redeemed at an amount equal to the Series
B-1 Original Issue Price plus all declared but unpaid dividends, in three annual installments commencing not more than 60 days
after the Company receives a redemption request from a majority of the then outstanding holders of Preferred Stock.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Voting
</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
holder of Series B-1Preferred Stock is entitled to the number of votes equal to the number of shares of Common Stock into which
such holder's shares are convertible. The holders of Series B-1 Preferred Stock Series A-1 Preferred Stock and Common Stock will
vote together as a single class. In addition, at any time when at least a majority of the shares of the originally issued Series
B-1 Preferred Stock are outstanding, the Company is not authorized to perform certain activities without the written consent or
affirmative vote of the holders of at least a majority of the then outstanding shares of Series B-1 Preferred Stock.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Series
A-1 Redeemable Convertible Preferred Stock</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2016 and 2015, the Company has issued and outstanding 960,083 shares of Series A-1 Preferred Stock.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Conversion</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
share of Series A-1 Preferred Stock is convertible, at the holder's option, into shares of Common Stock as determined by the applicable
preferred conversion rate set forth in the Company&rsquo;s Sixth Amended and Restated Certificate of Incorporation. The initial
conversion rate is one share of Common Stock for each share of Series A-1 Preferred Stock subject to anti-dilution and other adjustments
as set forth in the Restated Certificate. Mandatory conversion will occur upon (i) the closing of the sale of Common Stock, in
a firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933,
as amended, resulting in $15,000,000 of gross proceeds to the Company in which the price of the Common Stock to the public is
at least three times the Series A-1 Original Issue Price per share or (ii) the date and time, or the occurrence of an event, specified
by vote or written consent of the holders of at least a majority of the then outstanding shares of Preferred Stock, voting together
as a single class on an as-converted basis.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 23, 2016, the holders of the Company&rsquo;s preferred stock, voting together as a single class on an as-converted basis,
agreed to deem the closing of the Company&rsquo;s initial public offering as the condition for the mandatory conversion of the
Company&rsquo;s preferred stock upon the terms and conditions set forth in the Company&rsquo;s then Sixth Amended and Restated
Certificate of Incorporation, as may be amended and/or restated from time to time.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Dividends</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company may not declare, pay or set aside any dividends on shares of any other class or series of capital stock, including Common
Stock (other than dividends on shares of Common Stock payable in shares of Common Stock) unless the holders of Series B-1 Preferred
Stock shall first or simultaneously receive a dividend on all outstanding shares of Series B-1 Preferred Stock on the terms set
forth in the restated certificate and the holders of Series A-1 Preferred Stock shall first or simultaneously receive a dividend
on all outstanding shares of Series A-1 Preferred Stock on the terms set forth in the Restated Certificate, in a per share amount
equal (on an as-if-converted to Common Stock basis) to the amount paid for each share of Common Stock.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Liquidation
Preference</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
holders of Series A-1 Preferred Stock have a liquidating preference over the holders of Common Stock. The holders of Series A-1
Preferred Stock are entitled to receive an amount equal to the greater of (i) the Series A-1 Original Issue Price plus any dividends
declared but unpaid thereon or (ii) the amount per share which would have been payable had each share been converted into Common
Stock. If upon any such liquidation, dissolution or winding up of Myomo, its assets available for distribution to its stockholders,
after payment of the Series B-1 Liquidation Preference, shall be insufficient to pay the Series A-1 Liquidation Preference, the
holders of Series A-1 Preferred Stock will share ratably in any distribution of assets available for distribution in proportion
to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all
amounts payable on or with respect to such shares were paid in full.&nbsp;</FONT> </P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Redemption</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
holders of Series A-1 Preferred Stock may elect, but not prior to July 22, 2019, to require the Company to redeem all of the outstanding
shares of Preferred Stock. The holders of Series A-1 Preferred Stock shall be redeemed at an amount equal to the Series A-1 Original
Issue Price, plus all declared but unpaid dividends, in three annual installments commencing not more than 60 days after the Company
receives a redemption request from a majority of the then outstanding holders of Series A-1 Preferred Stock.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Voting
</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
holder of Series A-1 Preferred Stock is entitled to the number of votes equal to the number of shares of Common Stock into which
such holder's shares are convertible. The holders of Series A-1 Preferred Stock, Series B-1 Preferred Stock and Common Stock will
vote together as a single class. In addition, at any time when at least a majority of the shares of the originally issued Series
A-1 Preferred Stock are outstanding, the Company is not authorized to perform certain activities without the written consent or
affirmative vote of the holders of at least a majority of the then outstanding shares of Preferred Stock.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
17 - Stock Options Plans</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 25, 2016, the Company&rsquo;s shareholders approved the 2016 Equity Incentive Plan (2016 Plan) to be effective as of the
date that the Company completes its Initial Public Offering. Upon effectiveness of the 2016 Plan, no additional awards will be
granted under the Company&rsquo;s prior equity incentive plans. The Company has reserved 562,500 shares of its Common Stock for
issuance under the 2016 Plan. Participation in the 2016 Plan will continue until all of the benefits to which the participants
are entitled have been paid in full.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
September 2014, the Company established the 2014 Stock Option and Grant Plan and suspended the granting of any new stock awards
under the 2004 Stock Option and Incentive Plan, which was established in November 2004. Under the terms of the Stock Plans, incentive
stock options (ISOs) may be granted to officers and employees and non-qualified stock options and awards may be granted to directors,
consultants, officers and employees of the Company. The exercise price of ISOs cannot be less than the fair market value of the
Company&rsquo;s Common Stock on the date of grant. The options vest over a period determined by the Company&rsquo;s Board of Directors,
ranging from immediate to four years, and expire not more than ten years from the date of grant.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 23, 2016, the Company&rsquo;s shareholders approved an amendment to its 2014 Stock Option and Grant Plan to increase the
number of shares of common stock reserved under the plan to an aggregate of 899,549.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
option activity under the Stock Option Plans during the years ended December 31, 2016 and 2015 is as follows:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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="padding: 0 0 1.5pt; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0 0 1.5pt; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> Shares </TD><TD STYLE="padding: 0 0 1.5pt; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0 0 1.5pt; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> Weighted
    Average Exercise Price </TD><TD STYLE="padding: 0 0 1.5pt; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0 0 1.5pt; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0"> Weighted
    Average Remaining Life (years) </TD><TD STYLE="padding: 0 0 1.5pt; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0 0 1.5pt; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> Intrinsic <BR>
    Value </TD><TD STYLE="padding: 0 0 1.5pt; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; padding: 0; text-indent: 0"> Balance at January 1, 2015 </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 234,643 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 0.12800 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 174,222 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> Granted </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 46,063 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 0.00160 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 39,577 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Forfeited or cancelled </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> (7,754 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> ) </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 0.00480 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> (6,274 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> Exercised </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> (458 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0; vertical-align: top"> ) </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> 0.03360 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-align: right; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> (379 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0; vertical-align: top"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0"> Balance at December 31, 2015 </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 272,494 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 0.10880 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 6.95 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 207,146 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> Granted </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 101,661 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 0.99870 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 5,172 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Forfeited or cancelled </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> (3,352 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> ) </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 0.51250 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> (4,241 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> Exercised </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> (124,459 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0; vertical-align: top"> ) </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> 0.02590 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-align: right; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> (127,410 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0; vertical-align: top"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0"> Balance at December 31, 2016 </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 246,344 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 0.51330 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-align: right; text-indent: 0"> 7.10 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 80,667 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0"> Options exercisable at December 31, 2015 </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 187,485 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 0.15680 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-align: right; text-indent: 0"> 6.28 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 134,291 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> Options exercisable at December 31, 2016 </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 140,724 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 0.34640 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-align: right; text-indent: 0"> 5.68 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 99,879 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company uses the Black-Scholes option pricing model to estimate the grant date fair value of its stock options. There was no income
tax benefit recognized in the financial statements for share-based compensation arrangements for the years ended December 31,
2016 and 2015. The assumptions underlying the calculation of grant date fair value are as follows:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 2016 </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 2015 </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; padding: 0; text-indent: 0"> Volatility </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 81.00 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> % </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 78.00 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Risk-free interest rate </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 0.58 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> % </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 1.31 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Weighted-average expected option term (in years) </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.75-6.25</FONT> </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.75-6.25</FONT> </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> Dividend </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 0 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 0 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
stock price volatility for the Company's options was determined using historical volatilities for industry peers. The risk free
interest rate was derived from U.S. Treasury rates existing on the date of grant for the applicable expected option term. The
expected term represents the period of time that options are expected to be outstanding. Because the Company does not have historical
exercise behavior, it determines the expected life assumption using the simplified method, which is an average of the contractual
term of the option and its ordinary vesting period. The expected dividend yield assumption is based on the fact that the Company
has never paid, nor has any intention to pay, cash dividends.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company attributes the value of stock based compensation to operations on the straight-line method. Stock-based compensation,
net of estimated forfeitures, amounted to approximately $94,100 and $53,800 for the years ended December 31, 2016 and 2015, respectively.
The weighted-average grant date value per share was $0.72 and $0.31 for the years ended December 31, 2016 and 2015, respectively.
As of December 31, 2016, there was approximately $80,100 of total unrecognized compensation cost related to unvested stock options
and is expected to recognized over a weighted-average period of 2.19 years.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
18 - Warrants</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table presents the Company&rsquo;s common stock warrant activity for the years ended December 31, 2016 and 2015:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="text-align: center; padding: 0; text-indent: 0"> Weighted Average </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Warrants </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Exercise Price </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Outstanding </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Exercisable </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Outstanding </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Exercisable </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; padding: 0; text-indent: 0"> Balance, Jan 1, 2015 </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 10,781 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 10,781 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 3.5136 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 3.5136 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> Granted </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0"> Exercised </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> Balance, Dec 31, 2015 </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 10,781 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 10,781 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 3.5136 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 3.5136 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0"> Granted </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> Exercised </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0"> Balance, Dec 31, 2016 </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 10,781 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 10,781 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 3.5136 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 3.5136 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
weighted average remaining contractual life of warrants outstanding and exercisable at December 31, 2016 was 1.35 years.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
19 - Related Party Transactions</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company sells its products to an orthotics and prosthetics practice whose ownership includes an individual who is both a minority
shareholder and employee of the Company. Sales to this related party are sold at standard list prices. During the year ended December
31, 2016 sales to this orthotics and prosthetics practice amounted to approximately $49,100. Included in accounts receivable at
December 31, 2016 is approximately $24,500 and due to the related party</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company also obtains consulting and fabrication services from the same related party. Charges for these services amounted to approximately
$156,900 and $186,400 during the years ended December 31, 2016 and 2015, respectively. Included in accounts payable and accrued
expenses at December 31, 2016 and 2015 is approximately $6,600 and $12,900, respectively, due to the related party.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
directors and officers purchased $1,180,000 of the Company&rsquo;s subordinated convertible promissory notes in 2015 and 2016.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
directors and officers of the Company purchased 142,653 Series B-1 preferred shares at $4.93696 per share, which is the same price
paid by other Series B-1 preferred stockholders.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
20 - Commitments and Contingencies</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Litigation</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the normal course of business, the Company may be involved in legal proceedings, claims and assessments arising from the ordinary
course of business. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance. Currently,
there is no litigation against the Company.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Operating
Leases</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has a month &ndash;to-month lease agreement for office space. Rent expense for the years ended December 31, 2016 and 2015
was approximately $108,400 and $112,300.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Licensing
Agreement</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
2006, the Company entered into an exclusive licensing agreement for access to certain patent rights that require the payment of
royalties, which vary based on the level of the Company&rsquo;s net sales. As part of the agreement, the Company must pay a nonrefundable
annual license maintenance fee which may be credited to any royalty amounts due in that same year. The license agreement can be
terminated if certain sales targets are not achieved. The royalty charge for each of the years ended December 31, 2016 and 2015
was $25,000 and is included as a component of cost of sales.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
future minimum amounts due under this agreement for the next five years and thereafter are as follows:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-align: left"> 2017 </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 9%; text-align: right"> 25,000 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> 2018 </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> 2019 </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> 2020 </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 25,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> 2021 through expiration of the patents </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 75,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the licensing agreement, the Company issued 5,680 shares of Common Stock to the licensor. The licensing agreement includes an
anti-dilution provision such that the licensor&rsquo;s ownership of the outstanding Common Stock shall not fall below 1% on a
fully diluted basis. Such issuances of Common Stock continue until the date upon which the Company received a total of $3,000,000
for its capital stock. After the date the funding threshold was met in 2007, the licensor has the right to purchase additional
shares of common stock to maintain its pro rata ownership.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November 15, 2016, the Company and MIT entered into a waiver agreement with regard to certain&nbsp;revenue and commercialization
milestones of the Company required&nbsp;under the License Agreement.&nbsp;Under the waiver agreement, MIT&nbsp;waived the compliance
with&nbsp;any and all&nbsp;of such milestone obligations&nbsp;prior to the date of the waiver agreement. For the year ended December
31, 2016 the Company met its minimum sales covenant of $750,000.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Warranty
Liability </B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accrues an estimate of their exposure to warranty claims based on both current and historical product sales data and warranty
costs incurred. The majority of the Company&rsquo;s products carry a one year warranty. The Company assesses the adequacy of their
recorded warranty liability annually and adjusts the amount as necessary.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
in warranty liability were as follows:</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="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 2016 </TD><TD STYLE="padding: 0; font-weight: bold; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 2015 </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding: 0; text-indent: 0"> Accrued warranty liability, beginning of year </TD><TD STYLE="width: 1%; font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; font-weight: bold; text-align: right; padding: 0; text-indent: 0"> 2,994 </TD><TD STYLE="width: 1%; font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 4,107 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Accrual provided for warranties issued during the period </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; padding: 0; text-indent: 0"> 67,382 </TD><TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 5,494 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Adjustments to prior accruals </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; padding: 0; text-indent: 0"> (3,773 </TD><TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> ) </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> (800 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> Actual warranty expenditures </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> (3,456 </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0"> ) </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> (5,807 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0; vertical-align: top"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Accrued warranty liability, end of year </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> 63,147 </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> 2,994 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Credit
Risk</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company maintains cash with major financial institutions. At certain times, the balances are in excess of federally insured limits.
The Company has not experienced any losses in such accounts and do not believe we are exposed to any significant credit risks
related to cash.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Major
Customers</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the year ended December 31, 2016 four customers accounted for approximately 64% (23%-$253,300; 14%-$155,800; 14%-$155,000 and
12%-$127,200) of revenues, excluding grant income.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the year ended December 31, 2015 two customers accounted for approximately 28% (17%-$97,500 and 11%-$60,000) of revenues, excluding
grant income</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2016 four customers accounted for approximately 80% (23%-$26,100, 23%-$25,700; 21%-$24,500 [related party] and
13%-$15,200) of accounts receivable.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2015 three customers accounted for approximately 92% (42%-$19,500; 25%-$11,900 and 25%-$11,400) of accounts receivable.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Economic
Dependence</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the years ended December 31, 2016 and 2015 the Company contracted the manufacture of its product from one vendor. If the current
vendor no longer produces the product, the Company would have to find a new manufacturer.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
21 - Income Taxes</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
income tax provision (benefit) for the years ended December 31, 2016 and 2015 consist of the following:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 12/31/16 </TD><TD STYLE="padding: 0; font-weight: bold; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 12/31/15 </TD><TD STYLE="padding: 0; font-weight: bold; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0"> U.S. federal </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0 0 0 10pt; text-indent: 0"> Current </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="font-weight: bold; text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 76%; padding: 0 0 0 10pt; text-indent: 0"> Deferred </TD><TD STYLE="width: 1%; font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; font-weight: bold; text-align: right; padding: 0; text-indent: 0"> (1,184,000 </TD><TD STYLE="width: 1%; font-weight: bold; text-align: left; padding: 0; text-indent: 0"> ) </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> (1,279,000 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> State and local &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0 0 0 10pt; text-indent: 0"> Current </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="font-weight: bold; text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> - </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0 0 0 10pt; text-indent: 0"> Deferred </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> (177,000 </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0"> ) </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> (210,000 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; padding: 0; text-indent: 0"> (1,361,000 </TD><TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> ) </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> (1,489,000 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Change in valuation allowance </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> 1,361,000 </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> 1,489,000 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> Income Tax Provision </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
reconciliation between the U.S statutory federal income tax rate and the Company's effective rate for the years ended December
31, 2016 and 2015 is as follows:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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="text-align: center; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 12/31/16 </TD><TD STYLE="padding: 0; font-weight: bold; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 12/31/15 </TD><TD STYLE="padding: 0; font-weight: bold; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding: 0; text-indent: 0"> U.S. federal statutory rate </TD><TD STYLE="width: 1%; font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; font-weight: bold; text-align: right; padding: 0; text-indent: 0"> 34.00 </TD><TD STYLE="width: 1%; font-weight: bold; text-align: left; padding: 0; text-indent: 0"> % </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 34.00 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> State income taxes, net of federal benefit </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; padding: 0; text-indent: 0"> 5.45 </TD><TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> % </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 5.36 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> State rate change </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; padding: 0; text-indent: 0"> -0.54 </TD><TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> % </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 2.42 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Other permanent items </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: right; padding: 0; text-indent: 0"> -1.29 </TD><TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> % </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> -1.86 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Change in valuation allowance </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> -37.62 </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0"> % </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> -39.92 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> Effective rate &nbsp; </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> 0.00 </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0"> % </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> 0.00 </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0"> % </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTES
TO FINANCIAL STATEMENTS</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2016 and 2015, the Company's deferred tax assets consisted of the effects of temporary differences attributable
to the following:</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&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-weight: bold; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> Deferred tax asset: </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 12/31/16 </TD><TD STYLE="padding: 0; font-weight: bold; text-indent: 0"> &nbsp; </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0"> 12/31/15 </TD><TD STYLE="padding: 0; font-weight: bold; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding: 0 0 0 10pt; text-indent: 0"> Net operating loss carryover </TD><TD STYLE="width: 1%; font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; font-weight: bold; text-align: right; padding: 0; text-indent: 0"> 7,876,000 </TD><TD STYLE="width: 1%; font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="width: 1%; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0"> 6,570,000 </TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10pt; text-indent: 0"> Tax credits </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="font-weight: bold; text-align: right; padding: 0; text-indent: 0"> 189,000 </TD><TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 189,000 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10pt; text-indent: 0"> Stock-based compensation </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="font-weight: bold; text-align: right; padding: 0; text-indent: 0"> 19,000 </TD><TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> (6,000 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0 0 0 10pt; text-indent: 0"> Other </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> 140,000 </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> 110,000 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Total deferred tax asset </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="font-weight: bold; text-align: right; padding: 0; text-indent: 0"> 8,224,000 </TD><TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> $ </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> 6,863,000 </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Less: valuation allowance </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> (8,224,000 </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0; vertical-align: top"> ) </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0"> (6,863,000 </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0; vertical-align: top"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"> &nbsp; </TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"> Deferred tax asset, net of valuation allowance </TD><TD STYLE="font-weight: bold; padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; font-weight: bold; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; font-weight: bold; text-align: left; text-indent: 0"> &nbsp; </TD><TD STYLE="padding: 0; text-indent: 0"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: left; text-indent: 0"> $ </TD><TD STYLE="border-bottom: Black 4pt double; padding: 0; text-align: right; text-indent: 0"> - </TD><TD STYLE="padding: 0; text-align: left; text-indent: 0"> &nbsp; </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
were no deferred tax liabilities at December 31, 2016 or 2015.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2016 and 2015, the Company had approximately 20.4 million and $17.1 million of Federal net operating loss (&ldquo;NOL&rdquo;),
and $16.9 million and $13.7 million of state NOL&rsquo;s, respectively, available to offset future taxable income. The Federal
NOLs, if not utilized, begin expiring in the year 2027. The state NOLs, if not utilized, begin to expire in 2019 through 2027.
In accordance with Section 382 of the Internal Revenue Code, deductibility of the Company&rsquo;s federal NOL carryovers may be
limited in the event of a change in control.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC
740, &ldquo;Income Taxes&rdquo; requires that a valuation allowance be established when it is &ldquo;more likely than not&rdquo;
that all, or a portion of, deferred tax assets will not be realized. A review of all available positive and negative evidence
needs to be considered, including the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax
planning strategies. After consideration of all the information available, management believes that uncertainty exists with respect
to future realization of its deferred tax assets and has, therefore, established a full valuation allowance as of December 31,
2016 and 2015. For the years ended December 31, 2016 and December 31, 2015, the change in valuation allowance was $1,361,000 and
$1,489,000, respectively.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company recognizes interest and penalties relating to unrecognized tax benefits on the income tax expense line in the statement
of operations. There are no tax penalties and interest on the statement of operations as of December 31, 2016 and December 31,
2015. The Company operates in multiple tax jurisdictions and, in the normal course of business, its tax returns are subject to
examination by various taxing authorities. Such examinations may result in future assessments by these taxing authorities. The
Company is subject to examination by U.S. tax authorities beginning with the year ended December 31, 2013.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
accrued interest and penalties are included on the related tax liability accrual on the balance sheet. There are no accrued interest
and penalties at December 31, 2016 and December 31, 2015.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
22 - Subsequent Events</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent
to December 31, 2016, investors purchased for cash an additional $1,770,000 of Convertible Promissory Notes. &nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT=""><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; color: red"><FONT STYLE="color: Black"><B>OFFERING
CIRCULAR</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase; color: Black"><B>2,000,000
Shares of Common Stock</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 258pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase; color: Black"><B>,
2017</B></FONT></P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 127; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><A HREF="#toc">Table of Contents</A>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">PART
III&mdash;EXHIBITS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Index
to Exhibits</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1.5pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt"><B>Exhibit
    No.</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 92%; border-bottom: black 1.5pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt"><B>Exhibit
    Description</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"> <FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">1.1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"> <FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Selling
    Agency Agreement*</FONT> </TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">2.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Seventh
    Amended and Restated Certificate of Incorporation+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">2.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Bylaws+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">2.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Amended
    and Restated Certificate of Incorporation (to be effective upon the closing of this Offering)+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">2.4</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Amended
    and Restated Bylaws (to be effective upon the closing of this Offering)+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">3.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of Selling Agent Warrant+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of Warrant issued in connection with MLSC 10% Promissory Notes+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">3.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of Warrant issued in connection with 8% Convertible Promissory Notes, dated December 2015+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">3.4</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of Warrant issued in connection with 8% Bridge Convertible Promissory Notes, dated June 2016+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of Subscription Agreement+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of Subscription Agreement for BANQ subscribers+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">2004
    Stock Option and Incentive Plan and form of award agreements+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">2014
    Stock Option and Grant Plan and form of award agreements+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">2016
    Equity Incentive Plan (to be effective upon closing of this Offering) and form of award agreements+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.4</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of MLSC 10% Promissory Notes+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.5</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of 8% Convertible Promissory Notes, dated December 2015+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.6</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of 10% Convertible&nbsp;&nbsp;Promissory Notes, as amended in September 2015+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.7</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of 8% Bridge Convertible Promissory Notes, dated June 2016+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.8</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Employment
    Letter, dated August 22, 2012, between the Company and Steve Kelly+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.9</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Employment
    Letter, dated August 22, 2012, between the Company and Paul Gudonis+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.10</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Employment
    Letter, dated October 2, 2013, between the Company and Jonathan Naft+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.11</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Amendment
    to Employment Letter, dated June 7, 2015, between the Company and Paul Gudonis+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.12</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Amendment
    to Employment Letter, dated June 8, 2015, between the Company and Steve Kelly+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.13</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Compensation
    Letter, dated January 21, 2016, between the Company and Ralph Goldwasser+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.14</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Amendment
    to Compensation Letter, dated January 20, 2016, between the Company and Jonathan Naft+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.15</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Amendment
    to Employment Letter, dated January 21, 2016, between the Company and Davie Mendelsohn+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.16</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Management
    Incentive Plan+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.17</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of Management Incentive Plan Letter between the Company and the Executive Officer+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.18</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">License
    Agreement between the Company and the Massachusetts Institute of Technology, dated October 30, 2006+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.19</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">First
    Amendment to the License Agreement between the Company and the Massachusetts Institute of Technology, dated May 5, 2010+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.20</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">GRE
    Fabrication Agreement, effective as of September 1, 2012+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.21</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Form
    of Indemnification Agreement+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.22</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Waiver
    to License Agreement between the Company and the Massachusetts Institute of Technology, dated November 15, 2016+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.23</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Supply
    and Distribution Agreement between the Company and Ottobock (1)+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.24</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Employment
    Agreement between the Company and Paul R. Gudonis, dated December 23, 2016+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.25</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Employment
    Agreement between the Company and Jonathan Naft, dated December 23, 2016+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.26</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Employment
    Agreement between the Company and Davie Mendelsohn, dated December 23, 2016+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.27</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Employment
    Agreement between the Company and Ralph Goldwasser, dated December 23, 2016+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.28</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Reseller
    Agreement with &Ouml;ssur Americas Inc., dated January 21, 2015&nbsp;(1)+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">6.29</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Letter
    for Renewal of Reseller Agreement from &Ouml;ssur Americas Inc., dated December 28, 2015 (1)+</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">8.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Escrow
    Agreement with Wilmington Trust, N.A., dated January 27, 2017+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">11.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Consent
    of Marcum LLP*</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">11.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Consent
    of Duane Morris LLP (included in Exhibit 12.1)*</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">12.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Opinion
    of Duane Morris LLP*</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">13.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">&ldquo;Testing
    the waters&rdquo; materials+</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">15.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">Correspondence
    by or on behalf of the Company previously submitted pursuant to Rule 252(d).+</FONT></TD></TR>
</TABLE>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">* Filed herewith.&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">** To be filed by amendment.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">+
Previously filed.</FONT></P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">(1) Portions of this exhibit containing confidential information
have been omitted pursuant to a request for confidential treatment filed with the Commission pursuant to Rule 406 under the Securities
Act. Confidential information has been omitted from the exhibit in places marked &ldquo;[*]&rdquo;and has been filed separately
with the Commission.</P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 128; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">III-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><A HREF="#toc">Table of Contents</A>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><A NAME="a_027"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">SIGNATURES</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> Pursuant to the requirements of Regulation A, the issuer
certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A and has duly
caused this offering statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Cambridge,
Commonwealth of Massachusetts, on March 27, 2017. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
    INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0; width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Paul R. Gudonis</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul
    R. Gudonis</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman
    and Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>KNOW ALL PERSONS BY THESE PRESENTS</B><FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt; line-height: 115%">,
that each person whose signature appears below constitutes and appoints Paul R. Gudonis and Ralph A. Goldwasser, or any of them,
his true and lawful attorney-in-fact and agent, with full power of substitution, for him and in his name, place and stead, in
any and all capacities, to sign any and all amendments to this Form 1-A offering statement, and to file the same with all exhibits
thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact
and agent full power and authority to do and perform each and every act and thing requisite and ratifying and confirming all that
said attorney-in-fact and agent or his substitute or substitutes may lawfully do or cause to be done by virtue hereof.</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">This offering
statement has been signed by the following persons in the capacities and on the dates indicated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Paul R. Gudonis</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:&nbsp;&nbsp;March 27,
    2017</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT> </TD>
    <TD STYLE="width: 34%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul R. Gudonis</FONT> </TD>
    <TD STYLE="width: 30%"> &nbsp; </TD>
    <TD STYLE="width: 30%"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman, Chief Executive Officer and President</FONT> <BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Ralph A. Goldwasser</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:&nbsp;&nbsp;March 27,
    2017</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ralph A. Goldwasser</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;</FONT> </TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> Chief Financial Officer </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> (Principal Financial Officer and Principal Accounting
        Officer) </P></TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Thomas A. Crowley, Jr.</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:&nbsp;&nbsp;March 27,
    2017</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thomas A. Crowley, Jr.</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Thomas F. Kirk</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:&nbsp;&nbsp;March 27,
    2017</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thomas F. Kirk</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Amy Knapp</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:&nbsp;&nbsp;March 27,
    2017</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amy Knapp</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Steve Sanghi</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:&nbsp;&nbsp;March 27,
    2017</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steve Sanghi</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">III-2</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>





</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX1A-1 UNDR AGMT
<SEQUENCE>3
<FILENAME>f1apos2017ex1i_myomoinc.htm
<DESCRIPTION>SELLING AGENCY AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: right"><B>Exhibit 1.1</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maximum:
2,000,000 Shares of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$0.0001
par value per share</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SELLING
AGENCY AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March
16, 2017</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tripoint
Global Equities, LLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1450
Broadway, 26<SUP>th</SUP> Floor</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
York, New York 10018</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dear
Ladies and Gentlemen:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Myomo,
Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), proposes, subject to the terms and conditions contained in this
Selling Agency Agreement (this &ldquo;<B>Agreement</B>&rdquo;), to issue and sell up to a maximum of 2,000,000 shares of its common
stock, $0.0001 par value per share (the &ldquo;<B>Common Stock</B>&rdquo;), to investors (collectively, the &ldquo;<B>Investors</B>&rdquo;)
in an initial public offering (the <B>&ldquo;Offering</B>&rdquo;) pursuant to Regulation A through Tripoint Global Equities, LLC
and its online division, Banq&reg;, as Selling Agent (collectively, the &ldquo;<B>Selling Agent</B>&rdquo;), acting on a best
efforts basis only, in connection with such sales. The shares of Common Stock to be sold in this offering are referred to herein
as the &ldquo;<B>Shares</B>.&rdquo; The Shares are more fully described in the Offering Statement (as hereinafter defined).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company hereby confirms its agreement with the Selling Agent concerning the purchase and sale of the Shares, as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
<U>Agreement to Act on a Best Efforts Basis.</U> On the basis of the representations, warranties and agreements of the Company
herein contained and subject to all the terms and conditions of this Agreement, the Selling Agent agrees to act on a best efforts
basis only, in connection with the issuance and sale by the Company of the Shares to the Investors. Under no circumstances will
the Selling Agent be obligated to underwrite or purchase any of the Shares for its own account or otherwise provide any financing.
The Company will pay to the Selling Agent a fee equal to seven and one half percent (7.5%) (the &ldquo;<B>Fee</B>&rdquo;) of the
gross offering proceeds received by the Company from the sale of the Shares, which shall be allocated by Tripoint to Dealers (as
hereinafter defined) participating in the offering, in its sole discretion; provided, however, the Fee shall be reduced to 4%
for any proceeds received from sales/orders placed through Banq&reg; by investors the Company directly introduces to Tripoint
through its marketing campaign or from existing security holders of the Company, as set forth on the cover page of the Final Offering
Circular (as hereinafter defined).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Selling Agent shall have the right to enter into selected dealer agreements with other broker-dealers participating in the Offering
(each dealer being referred to herein as a &ldquo;<B>Dealer</B>&rdquo; and said dealers being collectively referred to herein
as the &ldquo;<B>Dealers</B>&rdquo;). The Fee shall be re-allowable, in whole or in part, to the Dealers. The Company will not
be liable or responsible to any Dealer for direct payment of compensation to any Dealer, it being the sole and exclusive responsibility
of the Selling Agent for payment of compensation to Dealers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
<U>Delivery and Payment.</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
On or after the date of this Agreement, the Company, the Selling Agent and Wilmington Trust (the &ldquo;<B>Escrow Agent</B>&rdquo;)
will enter into an Escrow Agreement substantially in the form included as an exhibit to the Offering Statement (the &ldquo;<B>Escrow
Agreement</B>&rdquo;), pursuant to which escrow accounts will be established, at the Company&rsquo;s expense, for the benefit
of those Investors who do not choose to invest through the Banq&reg; online platform (the &ldquo;<B>Escrow Accounts</B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Prior to the initial Closing Date (as hereinafter defined) of the Offering and any subsequent Closing Date, (i) each Investor
will execute and deliver a Purchaser Questionnaire and Subscription Agreement (each, an &ldquo;<B>Investor Subscription Agreement</B>&rdquo;)
to the Company and the Company will make available to the Selling Agent and the Escrow Agent copies of each such Investor Subscription
Agreement; (ii) each Investor will transfer to the Escrow Account funds in an amount equal to the price per Share as shown on
the cover page of the Final Offering Circular (as hereinafter defined multiplied by the number of Shares subscribed by such Investor;
(iii) subscription funds received from any Investor will be promptly transmitted to the Escrow Accounts in compliance with Rule
15c2-4 of the Securities Exchange Act of 1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;), and (iv) the Escrow Agent will
notify the Company and the Selling Agent in writing as to the balance of the collected funds in the Escrow Accounts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Notwithstanding the foregoing Section 2(b), Investors that maintain an account with Banq&reg;, a division of the Selling Agent,
may participate in the Offering without depositing funds with the Escrow Agent, provided such Investors maintain sufficient funds
in their account with Banq&reg;. Investors who wish to participate in the Offering through their account with Banq&reg; will be
asked to confirm their respective investment immediately prior to Closing, at which time each Investor will be required to have
funds in its account sufficient to fund the purchase of any Shares for which it subscribes in the Offering. At Closing, any amounts
subscribed for will be removed from such Investor&rsquo;s account and sent immediately to the account of the Company less any
Fees due to the Selling Agent. Such funds will not be held in a separate escrow account or otherwise segregated until such time
as the Offering is closed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
If the Escrow Agent shall have received written notice from the Company and the Selling Agent on or before 4:00 p.m., New York
City time, on August 30, 2017, or at such other time(s) on such other date(s), not more than thirty (30) days thereafter, as may
be agreed upon by the Company and the Selling Agent (each such date, a &ldquo;<B>Closing Date</B>&rdquo;), the Escrow Agent will
release the balance of the Escrow Accounts for collection by the Company and the Selling Agent as provided in the Escrow Agreement
and the Company shall deliver the Shares purchased on such Closing Date to the Investors, which delivery may be made through the
facilities of the Depository Trust Company (&ldquo;DTC&rdquo;) or via book entry with the Company&rsquo;s securities registrar
and transfer agent, Vstock (the &ldquo;<B>Transfer Agent</B>&rdquo;). The initial closing (the &ldquo;<B>Closing</B>&rdquo;) and
any subsequent closing (each, a &ldquo;<B>Subsequent Closing</B>&rdquo;) shall take place at the office of the Selling Agent or
such other location as the Selling Agent and the Company shall mutually agree. All actions taken at the Closing shall be deemed
to have occurred simultaneously on the date of the Closing and all actions taken at any Subsequent Closing shall be deemed to
have occurred simultaneously on the date of any such Subsequent Closing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
If the Company and the Selling Agent determine that the offering will not proceed, then the Escrow Agent will promptly return
the funds to the investors without interest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)
On each Closing Date, the Company will issue to the Selling Agent (and/or its designee) warrants to purchase that number of shares
of Common Stock equal to five percent (5%) of the shares issued and sold by the Company on such Closing Date (adjusted upward
to the nearest whole share) (the &ldquo;<B>Selling Agent&rsquo;s Warrants</B>&rdquo;). The Selling Agent&rsquo;s Warrants shall
be in the form of <U>Exhibit D</U> attached hereto. The Selling Agent&rsquo;s Warrants shall have an exercise price per share
equal to one hundred ten percent (110%) of the price per Share as shown on the cover page of the Final Offering Circular (as defined
below). The Selling Agent&rsquo;s Warrants will be exercisable for a term of five years beginning on the Qualification Date (as
defined below). The Selling Agent understands and agrees that there are significant restrictions pursuant to Financial Industry
Regulatory Authority (&ldquo;<B>FINRA</B>&rdquo;) Rule 5110 against transferring the Selling Agent&rsquo;s Warrants and the underlying
shares of Common Stock during the one hundred eighty (180) days after the Qualification Date and by its acceptance thereof shall
agree that it will not sell, transfer, assign, pledge or hypothecate the Selling Agent&rsquo;s Warrants, or any portion thereof,
or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic
disposition of such securities for a period of one hundred eighty (180) days following the Qualification Date to anyone other
than (i) a Selling agent or Dealer in connection with the offering contemplated hereby or (ii) a bona fide officer or partner
of the Selling Agent or of any Selling Agent or Dealer; and only if any such transferee agrees to the foregoing lock-up restrictions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<!-- Field: Page; Sequence: 2; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.
<U>Representations and Warranties of the Company.</U> The Company represents and warrants and covenants to the Selling Agent that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
The Company has filed with the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) an offering statement
on Form 1-A (File No. 024-10662) (collectively, with the various parts of such offering statement, each as amended as of the Qualification
Date for such part, including any Offering Circular and all exhibits to such offering statement, the &ldquo;<B>Offering Statement</B>&rdquo;)
relating to the Shares pursuant to Regulation A as promulgated under the Securities Act of 1933, as amended (the &ldquo;<B>Act</B>&rdquo;),
and the other applicable rules, orders and regulations (collectively referred to as the &ldquo;<B>Rules and Regulations</B>&rdquo;)
of the Commission promulgated under the Act. As used in this Agreement:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)
&ldquo;<B>Applicable Time</B>&rdquo; means 9:00 am (Eastern time) on the date of this Agreement;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)
&ldquo;<B>Final Offering Circular</B>&rdquo; means the final offering circular relating to the public offering of the Shares as
filed with the Commission pursuant to Regulation A of the Rules and Regulations;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)
&ldquo;<B>Preliminary Offering Circular</B>&rdquo; means any preliminary offering circular relating to the Shares included in
the Offering Statement pursuant to Regulation A of the Rules and Regulations;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)
&ldquo;<B>Pricing Disclosure Materials</B>&rdquo; means the most recent Preliminary Offering Circular and the materials identified
in <U>Schedule 1</U> hereto;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)
&ldquo;<B>Qualification Date</B>&rdquo; means the date as of which the Offering Statement was or will be qualified with the Commission
pursuant to Regulation A, the Act and the Rules and Regulations; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)
&ldquo;<B>Testing-the-Waters Communication</B>&rdquo; means any video or written communication with potential investors undertaken
in reliance on Rule 255 of the Rules and Regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
The Offering Statement has been filed with the Commission in accordance with the Act and Regulation A of the Rules and Regulations;
no stop order of the Commission preventing or suspending the qualification or use of the Offering Statement, or any amendment
thereto, has been issued, and no proceedings for such purpose have been instituted or, to the Company&rsquo;s, knowledge, are
contemplated by the Commission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
The Offering Statement, at the time it became qualified, as of the date hereof, and as of each Closing Date, conformed and will
conform in all material respects to the requirements of Regulation A, the Act and the Rules and Regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
The Offering Statement, at the time it became qualified, as of the date hereof, and as of each Closing Date, did not and will
not, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein not misleading.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
The Preliminary Offering Circular did not, as of its date, contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading; <U>provided</U>, <U>however</U>, that the Company makes no representation or warranty with respect
to the statements contained in the Preliminary Offering Circular as provided by the Selling Agent in Section 8(ii).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)
The Final Offering Circular will not, as of its date and on each Closing Date, contain an untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; <U>provided</U>, <U>however</U>, that the Company makes no representation
or warranty with respect to the statements contained in the Final Offering Circular as provided by the Selling Agent in Section
8(ii).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)
the Pricing Disclosure Materials and each Testing-the-Waters Communication, when considered together, did not, as of the Applicable
Time, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading, <U>provided</U>, <U>however</U>,
that the Company makes no representation or warranty with respect to the statements contained in the Preliminary Offering Circular
as provided by the Selling Agent in Section 8(ii).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 3; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)
As of each Closing Date, the Company is duly organized and validly existing as a corporation in good standing under the laws of
the State of Delaware. The Company has full power and authority to conduct all the activities conducted by it, to own and lease
all the assets owned and leased by it and to conduct its business as presently conducted and as described in the Offering Statement,
the Pricing Disclosure Materials and the Final Offering Circular. The Company is duly licensed or qualified to do business and
in good standing as a foreign organization in all jurisdictions in which the nature of the activities conducted by it or the character
of the assets owned or leased by it makes such licensing or qualification necessary, except where the failure to be so qualified
or in good standing or have such power or authority would not, individually or in the aggregate, reasonably be expected to have
a material adverse effect on or affecting the business, prospects, properties, management, financial position, stockholders&rsquo;
equity, or results of operations of the Company (a &ldquo;<B>Material Adverse Effect</B>&rdquo;). Complete and correct copies
of the certificate of incorporation and of the bylaws of the Company and all amendments thereto have been made available to the
Selling Agent, and no changes therein will be made subsequent to the date hereof and prior to any Closing Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
The Company has no subsidiaries, nor does it own a controlling interest in any entity other than those entities set forth on <U>Schedule
4</U> to this Agreement (each a &ldquo;<B>Subsidiary</B>&rdquo; and collectively the &ldquo;<B>Subsidiaries</B>&rdquo;). Each
Subsidiary has been duly organized and is validly existing and in good standing under the laws of its jurisdiction of formation.
Each Subsidiary is duly qualified and in good standing as a foreign company in each jurisdiction in which the character or location
of its properties (owned, leased or licensed) or the nature or conduct of its business makes such qualification necessary, except
for those failures to be so qualified or in good standing which would not be reasonably expected to have a Material Adverse Effect.
All of the shares of issued capital stock of each corporate subsidiary, and all of the share capital, membership interests and/or
equity interests of each subsidiary that is not a corporation, have been duly authorized and validly issued, are fully paid and
non-assessable and are owned directly or indirectly by the Company, free and clear of any lien, encumbrance, claim, security interest,
restriction on transfer, shareholders&rsquo; agreement, proxy, voting trust or other defect of title whatsoever.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)
The Company is organized in, and its principal place of business is in, the United States.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)
The Company is not subject to the ongoing reporting requirements of Section 13 or 15(d) of the Exchange Act and has not been subject
to an order by the Commission denying, suspending, or revoking the registration of any class of securities pursuant to Section
12(j) of the Exchange Act that was entered within five years preceding the date the Offering Statement was originally filed with
the Commission. The Company is not, and has not been at any time during the two-year period preceding the date the Offering Statement
was originally filed with the Commission, required to file with the Commission the ongoing reports required by the Rules and Regulations
under Regulation A</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)
The Company is not, nor upon completion of the transactions contemplated herein will it be, an &ldquo;investment company&rdquo;
or an &ldquo;affiliated person&rdquo; of, or &ldquo;promoter&rdquo; or &ldquo;principal underwriter&rdquo; for, an &ldquo;investment
company,&rdquo; as such terms are defined in the Investment Company Act of 1940, as amended (the &ldquo;<B>Investment Company
Act</B>&rdquo;). The Company is not a development stage company or a &ldquo;business development company&rdquo; as defined in
Section 2(a)(48) of the Investment Company Act. The Company is not a blank check company and is not an issuer of fractional undivided
interests in oil or gas rights or similar interests in other mineral rights. The Company is not an issuer of asset-backed securities
as defined in Item 1101(c) of Regulation AB.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)
Neither the Company, nor any predecessor of the Company; nor any other issuer affiliated with the Company; nor any director or
executive officer of the Company or other officer of the Company participating in the offering, nor any beneficial owner of 20%
or more of the Company's outstanding voting equity securities, nor any promoter connected with the Company, is subject to the
disqualification provisions of Rule 262 of the Rules and Regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)
The Company is not a &ldquo;foreign private issuer,&rdquo; as such term is defined in Rule 405 under the Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)
The Company has full legal right, power and authority to enter into this Agreement and the Escrow Agreement and perform the transactions
contemplated hereby and thereby. This Agreement and the Escrow Agreement have each been authorized and validly executed and delivered
by the Company and are each a legal, valid and binding agreement of the Company enforceable against the Company in accordance
with its terms, subject to the effect of applicable bankruptcy, insolvency or similar laws affecting creditors&rsquo; rights generally
and equitable principles of general applicability.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)
The issuance and sale of the Shares have been duly authorized by the Company, and, when issued and paid for in accordance with
this Agreement, will be duly and validly issued, fully paid and nonassessable and will not be subject to preemptive or similar
rights. The holders of the Shares will not be subject to personal liability by reason of being such holders. The Shares, when
issued, will conform to the description thereof set forth in the Final Offering Circular in all material respects.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q)
The Company has not authorized anyone other than the management of the Company and the Selling Agent to engage in Testing-the-Waters
Communications. The Company reconfirms that the Selling Agent has been authorized to act on its behalf in undertaking Testing-the-Waters
Communications. The Company has not distributed any Testing-the-Waters Communications other than those listed on <U>Schedule 1
</U>hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r)
The financial statements and the related notes included in the Offering Statement, the Pricing Disclosure Materials and the Final
Offering Circular present fairly, in all material respects, the financial condition of the Company and its Subsidiaries as of
the dates thereof and the results of operations and cash flows at the dates and for the periods covered thereby in conformity
with United States generally accepted accounting principles (&ldquo;<B>GAAP</B>&rdquo;), except as may be stated in the related
notes thereto. No other financial statements or schedules of the Company, any Subsidiary or any other entity are required by the
Act or the Rules and Regulations to be included in the Offering Statement or the Final Offering Circular. There are no off-balance
sheet arrangements (as defined in Regulation S-K Item 303(a)(4)(ii)) that may have a material current or future effect on the
Company&rsquo;s financial condition, changes in financial condition, results of operations, liquidity, capital expenditures or
capital resources.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(s)
Marcum LLP (the &ldquo;<B>Accountants</B>&rdquo;), who have reported on the financial statements and schedules described in Section
3(s), are registered independent public accountants with respect to the Company as required by the Act and the Rules and Regulations
and by the rules of the Public Company Accounting Oversight Board. The financial statements of the Company and the related notes
and schedules included in the Offering Statement, the Pricing Disclosure Materials and the Final Offering Circular comply as to
form in all material respects with the requirements of the Act and the Rules and Regulations and present fairly the information
shown therein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(t)
Since the date of the most recent financial statements of the Company included or incorporated by reference in the Offering Statement
and the most recent Preliminary Offering Circular and prior to the Closing and any Subsequent Closing, other than as described
in the Final Offering Circular (A) there has not been and will not have been any change in the capital stock of the Company or
long-term debt of the Company or any Subsidiary or any dividend or distribution of any kind declared, set aside for payment, paid
or made by the Company on any class of capital stock or equity interests, or any material adverse change, or any development that
would reasonably be expected to result in a material adverse change, in or affecting the business, prospects, properties, management,
financial position, stockholders&rsquo; equity, or results of operations of the Company and its Subsidiaries taken as a whole
(a &ldquo;<B>Material Adverse Change</B>&rdquo;) and (B) neither the Company nor any Subsidiary has sustained or will sustain
any material loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance,
or from any labor disturbance or dispute or any action, order or decree of any court or arbitrator or governmental or regulatory
authority, except in each case as otherwise disclosed in the Offering Statement, the Pricing Disclosure Materials and the Final
Offering Circular.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(u)
Since the date as of which information is given in the most recent Preliminary Offering Circular, neither the Company nor any
Subsidiary has entered or will before the Closing or any Subsequent Closing enter into any transaction or agreement, not in the
ordinary course of business, that is material to the Company and its Subsidiaries taken as a whole or incurred or will incur any
liability or obligation, direct or contingent, not in the ordinary course of business, that is material to the Company and its
Subsidiaries taken as a whole, and neither the Company nor any Subsidiary has any plans to do any of the foregoing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)
The Company and each Subsidiary has good and valid title in fee simple to all items of real property and good and valid title
to all personal property described in the Offering Statement or the Final Offering Circular as being owned by them, in each case
free and clear of all liens, encumbrances and claims except those that (1) do not materially interfere with the use made and proposed
to be made of such property by the Company and its Subsidiaries or (2) would not reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect. Any real property described in the Offering Statement or the Final Offering Circular
as being leased by the Company or any Subsidiary that is material to the business of the Company and its Subsidiaries taken as
a whole is held by them under valid, existing and enforceable leases, except those that (A) do not materially interfere with the
use made or proposed to be made of such property by the Company and its Subsidiaries or (B) would not be reasonably expected,
individually or in the aggregate, to have a Material Adverse Effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(w)
There are no legal, governmental or regulatory actions, suits or proceedings pending, either domestic or foreign, to which the
Company is a party or to which any property of the Company is the subject, nor are there, to the Company&rsquo;s knowledge, any
threatened legal, governmental or regulatory investigations, either domestic or foreign, involving the Company or any property
of the Company that, individually or in the aggregate, if determined adversely to the Company, would reasonably be expected to
have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under
this Agreement; to the Company&rsquo;s knowledge, no such actions, suits or proceedings are threatened or contemplated by any
governmental or regulatory authority or threatened by others.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x)
The Company and each Subsidiary has, and at each Closing Date will have, (1) all governmental licenses, permits, consents, orders,
approvals and other authorizations necessary to carry on its business as presently conducted except where the failure to have
such governmental licenses, permits, consents, orders, approvals and other authorizations would not be reasonably expected to
have a Material Adverse Effect, and (2) performed all its obligations required to be performed, and is not, and at each Closing
Date will not be, in default, under any indenture, mortgage, deed of trust, voting trust agreement, loan agreement, bond, debenture,
note agreement, lease, contract or other agreement or instrument (collectively, a &ldquo;<B>contract or other agreement</B>&rdquo;)
to which it is a party or by which its property is bound or affected and, to the Company&rsquo;s knowledge, no other party under
any material contract or other agreement to which it is a party is in default in any respect thereunder. The Company and its Subsidiaries
are not in violation of any provision of its organizational or governing documents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(y)
The Company has obtained all authorization, approval, consent, license, order, registration, exemption, qualification or decree
of, any court or governmental authority or agency or any sub-division thereof that is required for the performance by the Company
of its obligations hereunder, in connection with the offering, issuance or sale of the Shares and the Selling Agent&rsquo;s Securities
under this Agreement or the consummation of the transactions contemplated by this Agreement as may be required under federal,
state, local and foreign laws, the Act or the rules and regulations of the Commission thereunder, state securities or Blue Sky
laws, the rules and regulations of FINRA or the NYSE:MKT Exchange .</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(z)
There is no actual or, to the knowledge of the Company, threatened, enforcement action or investigation by any governmental authority
that has jurisdiction over the Company, and the Company has received no notice of any pending or threatened claim or investigation
against the Company that would provide a legal basis for any enforcement action, and the Company has no reason to believe that
any governmental authority is considering such action.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(aa)
Neither the execution of this Agreement, nor the issuance, offering or sale of the Shares, nor the consummation of any of the
transactions contemplated herein, nor the compliance by the Company with the terms and provisions hereof or thereof will conflict
with, or will result in a breach of, any of the terms and provisions of, or has constituted or will constitute a default under,
or has resulted in or will result in the creation or imposition of any lien, charge or encumbrance upon any property or assets
of the Company or any Subsidiary pursuant to the terms of any contract or other agreement to which the Company or any Subsidiary
may be bound or to which any of the property or assets of the Company or any Subsidiary is subject, except such conflicts, breaches
or defaults as may have been waived or would not, in the aggregate, be reasonably expected to have a Material Adverse Effect;
nor will such action result in any violation, except such violations that would not be reasonably expected to have a Material
Adverse Effect, of (1) the provisions of the organizational or governing documents of the Company or any Subsidiary, or (2) any
statute or any order, rule or regulation applicable to the Company or any Subsidiary or of any court or of any federal, state
or other regulatory authority or other government body having jurisdiction over the Company or any Subsidiary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(bb)
There is no document or contract of a character required to be described in the Offering Statement or the Final Offering Circular
or to be filed as an exhibit to the Offering Statement which is not described or filed as required. All such contracts to which
the Company or any Subsidiary is a party have been authorized, executed and delivered by the Company or any Subsidiary, and constitute
valid and binding agreements of the Company or any Subsidiary, and are enforceable against the Company in accordance with the
terms thereof, subject to the effect of applicable bankruptcy, insolvency or similar laws affecting creditors&rsquo; rights generally
and equitable principles of general applicability. None of these contracts have been suspended or terminated for convenience or
default by the Company or any of the other parties thereto, and the Company has not received notice of any such pending or threatened
suspension or termination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(cc)
The Company and its directors, officers or controlling persons have not taken, directly or indirectly, any action intended, or
which might reasonably be expected, to cause or result, under the Act or otherwise, in, or which has constituted, stabilization
or manipulation of the price of any security of the Company to facilitate the sale or resale of the Company&rsquo;s Common Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(dd)
Other than as previously disclosed to the Selling Agent in writing, the Company, or any person acting on behalf of the Company,
has not and, except in consultation with the Selling Agent, will not publish, advertise or otherwise make any announcements concerning
the distribution of the Shares, and has not and will not conduct road shows, seminars or similar activities relating to the distribution
of the Shares nor has it taken or will it take any other action for the purpose of, or that could reasonably be expected to have
the effect of, preparing the market, or creating demand, for the Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ee)
No holder of securities of the Company has rights to the registration of any securities of the Company as a result of the filing
of the Offering Statement or the transactions contemplated by this Agreement, except for such rights as have been waived or as
are described in the Offering Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ff)
No labor dispute with the employees of the Company or any Subsidiary exists or, to the knowledge of the Company, is threatened,
and the Company is not aware of any existing or threatened labor disturbance by the employees of any of its or any Subsidiary&rsquo;s
principal suppliers, manufacturers, customers or contractors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(gg)
The Company and each of its subsidiaries: (i) are and have been in material compliance with all laws, to the extent applicable,
and the regulations promulgated pursuant to such laws, and comparable state laws, and all other local, state, federal, national,
supranational and foreign laws, manual provisions, policies and administrative guidance relating to the regulation of the Company
and its subsidiaries except for such non-compliance as would not be reasonably expected, individually or in the aggregate, to
have a Material Adverse Effect; (ii) have not received notice of any ongoing claim, action, suit, proceeding, hearing, enforcement,
investigation, arbitration or other action from any Regulatory Agency or third party alleging that any product operation or activity
is in material violation of any laws and has no knowledge that any such Regulatory Agency or third party is considering any such
claim, litigation, arbitration, action, suit, investigation or proceeding; and (iii) are not a party to any corporate integrity
agreement, deferred prosecution agreement, monitoring agreement, consent decree, settlement order, or similar agreements, or has
any reporting obligations pursuant to any such agreement, plan or correction or other remedial measure entered into with any Governmental
Authority.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(hh)
The business and operations of the Company, and each of its Subsidiaries, have been and are being conducted in compliance with
all applicable laws, ordinances, rules, regulations, licenses, permits, approvals, plans, authorizations or requirements relating
to occupational safety and health, or pollution, or protection of health or the environment (including, without limitation, those
relating to emissions, discharges, releases or threatened releases of pollutants, contaminants or hazardous or toxic substances,
materials or wastes into ambient air, surface water, groundwater or land, or relating to the manufacture, processing, distribution,
use, treatment, storage, disposal, transport or handling of chemical substances, pollutants, contaminants or hazardous or toxic
substances, materials or wastes, whether solid, gaseous or liquid in nature) of any governmental department, commission, board,
bureau, agency or instrumentality of the United States, any state or political subdivision thereof, or any foreign jurisdiction
(&ldquo;<B>Environmental Laws</B>&rdquo;), and all applicable judicial or administrative agency or regulatory decrees, awards,
judgments and orders relating thereto, except where the failure to be in such compliance would not be reasonably expected, individually
or in the aggregate, to have a Material Adverse Effect; and neither the Company nor any of its Subsidiaries has received any notice
from any governmental instrumentality or any third party alleging any material violation thereof or liability thereunder (including,
without limitation, liability for costs of investigating or remediating sites containing hazardous substances and/or damages to
natural resources).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
There has been no storage, generation, transportation, use, handling, treatment, Release or threat of Release of Hazardous Materials
(as defined below) by or caused by the Company or any of its Subsidiaries (or, to the knowledge of the Company, any other entity
(including any predecessor) for whose acts or omissions the Company or any of its Subsidiaries is or could reasonably be expected
to be liable) at, on, under or from any property or facility now or previously owned, operated or leased by the Company or any
of its Subsidiaries, or at, on, under or from any other property or facility, in violation of any Environmental Laws or in a manner
or amount or to a location that could reasonably be expected to result in any liability under any Environmental Law, except for
any violation or liability which would not, individually or in the aggregate, have a Material Adverse Effect. &ldquo;<B>Hazardous
Materials</B>&rdquo; means any material, chemical, substance, waste, pollutant, contaminant, compound, mixture, or constituent
thereof, in any form or amount, including petroleum (including crude oil or any fraction thereof) and petroleum products, natural
gas liquids, asbestos and asbestos containing materials, naturally occurring radioactive materials, brine, and drilling mud, regulated
or which can give rise to liability under any Environmental Law. &ldquo;<B>Release</B>&rdquo; means any spilling, leaking, seepage,
pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, disposing, depositing, dispersing,
or migrating in, into or through the environment, or in, into from or through any building or structure.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(jj)
The Company and its Subsidiaries own, possess, license or have other adequate rights to use, on reasonable terms, all material
patents, patent applications, trade and service marks, trade and service mark registrations, trade names, copyrights, licenses,
inventions, trade secrets, technology, know-how and other intellectual property necessary for the conduct of the Company&rsquo;s
and each of its Subsidiary&rsquo;s business as now conducted (collectively, the &ldquo;<B>Intellectual Property</B>&rdquo;), except
to the extent such failure to own, possess or have other rights to use such Intellectual Property would not result in a Material
Adverse Effect. Except as set forth in the Final Offering Circular: (a) no party has been granted an exclusive license to use
any portion of such Intellectual Property owned by the Company or its Subsidiaries; (b) to the knowledge of the Company, there
is no infringement by third parties of any such Intellectual Property owned by or exclusively licensed to the Company or its Subsidiaries;
(c) the Company is not aware of any defects in the preparation and filing of any of patent applications, as listed in <U>Exhibit
C</U>, within the Intellectual Property; (d) to the knowledge of the Company, the patent applications, as listed in <U>Exhibit
C</U>, within the Intellectual Property are being prosecuted so as to avoid the abandonment thereof; (e) to the knowledge of the
Company, the patents, as listed in <U>Exhibit C</U>, within the Intellectual Property are being maintained and the required maintenance
fees (if any) are being paid; (f) there is no pending or, to the knowledge of the Company, threatened action, suit, proceeding
or claim by others challenging the Company&rsquo;s or any of its Subsidiaries&rsquo; rights in or to any Intellectual Property,
and the Company and its Subsidiaries are unaware of any facts which would form a reasonable basis for any such claim; (g) there
is no pending or, to the knowledge of the Company, threatened action, suit, proceeding or claim by others challenging the validity
or scope or enforceability of any such Intellectual Property, and the Company and its Subsidiaries are unaware of any facts which
would form a reasonable basis for any such claim; and (h) there is no pending, or to the knowledge of the Company, threatened
action, suit, proceeding or claim by others that the Company&rsquo;s or any of its Subsidiaries&rsquo; business as now conducted
infringes or otherwise violates any patent, trademark, copyright, trade secret or other proprietary rights of others, and the
Company and its Subsidiaries are unaware of any other fact which would form a reasonable basis for any such claim. To the knowledge
of the Company, no opposition filings or invalidation filings have been submitted which have not been finally resolved in connection
with any of the Company&rsquo;s patents and patent applications in any jurisdiction where the Company has applied for, or received,
a patent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(kk)
Except as would not have, individually or in the aggregate, a Material Adverse Effect, the Company and each Subsidiary (1) has
timely filed all federal, state, provincial, local and foreign tax returns that are required to be filed by such entity through
the date hereof, which returns are true and correct, or has received timely extensions for the filing thereof, and (2) has paid
all taxes, assessments, penalties, interest, fees and other charges due or claimed to be due from the Company, other than (A)
any such amounts being contested in good faith and by appropriate proceedings and for which adequate reserves have been provided
in accordance with GAAP or (B) any such amounts currently payable without penalty or interest. There are no tax audits or investigations
pending, which if adversely determined could have a Material Adverse Effect; nor to the knowledge of the Company is there any
proposed additional tax assessments against the Company or any Subsidiary which could have, individually or in the aggregate,
a Material Adverse Effect. No transaction, stamp, capital or other issuance, registration, transaction, transfer or withholding
tax or duty is payable by or on behalf of the Selling Agent to any foreign government outside the United States or any political
subdivision thereof or any authority or agency thereof or therein having the power to tax in connection with (i) the issuance,
sale and delivery of the Shares by the Company; (ii) the purchase from the Company, and the initial sale and delivery of the Shares
to purchasers thereof; or (iii) the execution and delivery of this Agreement or any other document to be furnished hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ll)
On each Closing Date, all stock transfer or other taxes (other than income taxes) which are required to be paid in connection
with the sale and transfer of the Shares to be issued and sold on such Closing Date will be, or will have been, fully paid or
provided for by the Company and all laws imposing such taxes will be or will have been fully complied with.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(mm)
The Company and its Subsidiaries are insured with insurers with appropriately rated claims paying abilities against such losses
and risks and in such amounts as are prudent and customary for the businesses in which they are engaged; all policies of insurance
and fidelity or surety bonds insuring the Company, each Subsidiary or their respective businesses, assets, employees, officers
and directors are in full force and effect; and there are no claims by the Company or its Subsidiary under any such policy or
instrument as to which any insurance company is denying liability or defending under a reservation of rights clause; neither the
Company nor any Subsidiary has been refused any insurance coverage sought or applied for; and neither the Company nor any Subsidiary
has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires
or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that is not materially
greater than the current cost. The Company has obtained director&rsquo;s and officer&rsquo;s insurance in such amounts as is customary
for a similarly situated company engaging in an initial public offering of securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(nn)
Neither the Company nor its Subsidiaries, nor any director, officer, agent or employee of either the Company or any Subsidiary
has directly or indirectly, (1) made any unlawful contribution to any federal, state, local and foreign candidate for public office,
or failed to disclose fully any contribution in violation of law, (2) made any payment to any federal, state, local and foreign
governmental officer or official, or other person charged with similar public or quasi-public duties, other than payments required
or permitted by the laws of the United States or any jurisdiction thereof, (3) violated or is in violation of any provisions of
the U.S. Foreign Corrupt Practices Act of 1977, or (4) made any bribe, rebate, payoff, influence payment, kickback or other unlawful
payment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(oo)
The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance in all material respects
with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970,
as amended, the money laundering statutes of all jurisdictions, the rules and regulations thereunder and any related or similar
rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the &ldquo;<B>Money
Laundering Laws</B>&rdquo;) and no material action, suit or proceeding by or before any court or governmental agency, authority
or body or any arbitrator involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending
or, to the knowledge of the Company, threatened.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(pp)
Neither the Company nor any of its Subsidiaries nor, to the knowledge of the Company, any director, officer, agent or employee
of the Company or any of its Subsidiaries is currently subject to any U.S. sanctions (the &ldquo;<B>Sanctions Regulations</B>&rdquo;)
administered by the Office of Foreign Assets Control of the U.S. Treasury Department (&ldquo;<B>OFAC</B>&rdquo;); and the Company
will not directly or indirectly use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds
to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person
currently subject to any U.S. sanctions administered by OFAC or listed on the OFAC Specially Designated Nationals and Blocked
Persons List. Neither the Company nor, to the knowledge of the Company, any director, officer, agent or employee of the Company,
is named on any denied party or entity list administered by the Bureau of Industry and Security of the U.S. Department of Commerce
pursuant to the Export Administration Regulations (&ldquo;<B>EAR</B>&rdquo;); and the Company will not, directly or indirectly,
use the proceeds of the offering of the Shares hereunder, or lend, contribute or otherwise make available such proceeds to any
subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently
subject to any Sanctions Regulations or to support activities in or with countries sanctioned by said authorities, or for engaging
in transactions that violate the EAR.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(qq)
The Company has not distributed and, prior to the later to occur of the last Closing Date and completion of the distribution of
the Shares, will not distribute any offering material in connection with the offering and sale of the Shares other than each Preliminary
Offering Circular, the Pricing Disclosure Materials and the Final Offering Circular, or such other materials as to which the Selling
Agent shall have consented in writing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(tt)
Each employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended
(&ldquo;<B>ERISA</B>&rdquo;), and all stock purchase, stock option, stock-based severance, employment, change-in-control, medical,
disability, fringe benefit, bonus, incentive, deferred compensation, employee loan and all other employee benefit plans, agreements,
programs, policies or other arrangements, whether or not subject to ERISA, that is maintained, administered or contributed to
by the Company or any of its affiliates for employees or former employees, directors or independent contractors of the Company
or its Subsidiaries, or under which the Company or any of its Subsidiaries has had or has any present or future obligation or
liability, has been maintained in material compliance with its terms and the requirements of any applicable federal, state, local
and foreign laws, statutes, orders, rules and regulations, including but not limited to ERISA and the Code; no prohibited transaction,
within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred which would result in a material liability
to the Company with respect to any such plan excluding transactions effected pursuant to a statutory or administrative exemption;
no event has occurred (including a &ldquo;reportable event&rdquo; as such term is defined in Section 4043 of ERISA) and no condition
exists that would subject the Company to any material tax, fine, lien, penalty, or liability imposed by ERISA, the Code or other
applicable law; and for each such plan that is subject to the funding rules of Section 412 of the Code or Section 302 of ERISA,
no &ldquo;accumulated funding deficiency&rdquo; as defined in Section 412 of the Code has been incurred, whether or not waived,
and the fair market value of the assets of each such plan (excluding for these purposes accrued but unpaid contributions) exceeds
the present value of all benefits accrued under such plan determined using reasonable actuarial assumptions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(uu)
No relationship, direct or indirect, exists between or among the Company or any Subsidiary, on the one hand, and the directors,
officers, stockholders, customers or suppliers of the Company or any Subsidiary, on the other, which would be required to be disclosed
in the Offering Statement, the Preliminary Offering Circular and the Final Offering Circular and is not so disclosed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vv)
The Company has not sold or issued any securities that would be integrated with the offering of the Shares contemplated by this
Agreement pursuant to the Act, the Rules and Regulations or the interpretations thereof by the Commission or that would fail to
come within the safe harbor for integration under Regulation A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xx) The Shares have been approved for listing on NYSE:MKT, under the symbol &ldquo;MYO.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(yy)
Except as set forth in this Agreement, there are no contracts, agreements or understandings between the Company and any person
that would give rise to a valid claim against the Company or the Selling Agent for a brokerage commission, finder&rsquo;s fee
or other like payment in connection with the offering of the Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(zz)
To the knowledge of the Company, there are no affiliations with FINRA among the Company&rsquo;s directors, officers or any five
percent or greater stockholder of the Company or any beneficial owner of the Company&rsquo;s unregistered equity securities that
were acquired during the 180-day period immediately preceding the initial filing date of the Offering Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(aaa)
There are no outstanding loans, advances (except normal advances for business expenses in the ordinary course of business) or
guarantees of indebtedness by the Company to or for the benefit of any of the officers or directors of the Company or any of their
respective family members. The Company has not directly or indirectly, including through its Subsidiaries, extended or maintained
credit, arranged for the extension of credit, or renewed any extension of credit, in the form of a personal loan to or for any
director or executive officer of the Company or any of their respective related interests, other than any extensions of credit
that ceased to be outstanding prior to the initial filing of the Offering Statement. No transaction has occurred between or among
the Company and any of its officers or directors, stockholders, customers, suppliers or any affiliate or affiliates of the foregoing
that is required to be described or filed as an exhibit to in the Offering Statement, the Preliminary Offering Circular, the Pricing
Disclosure Materials or the Final Offering Circular and is not so described.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(bbb)
The Company has the power to submit, and pursuant to Section 13 of this Agreement, has legally, validly, effectively and irrevocably
submitted, to the personal jurisdiction of each United States federal court and New York state court located in the Borough of
Manhattan, in the City of New York, New York, U.S.A. (each, a &ldquo;<B>New York Court</B>&rdquo;), and the Company has the power
to designate, appoint and authorize, and pursuant to Section 13 of this Agreement, has legally, validly, effectively and irrevocably
designated, appointed and authorized an agent for service of process in any action arising out of or relating to this Agreement
or the Shares in any New York Court, and service of process effected on such authorized agent will be effective to confer valid
personal jurisdiction over the Company as provided in Section 13 hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ccc)
The Selling Agent&rsquo;s Warrants have been duly authorized for issuance. The Company has reserved a sufficient number of shares
of its Common Stock for issuance upon exercise of the Selling Agent&rsquo;s Warrants and, when issued and paid for in accordance
with the terms of the Selling Agent&rsquo;s Warrants, such shares of Common Stock will be validly issued, fully paid and non-assessable
(such shares of Common Stock, together with the Selling Agent&rsquo;s Warrants, the &ldquo;<B>Selling Agent&rsquo;s Securities</B>&rdquo;).
The issuance of the Common Stock pursuant to the Selling Agent&rsquo;s Warrants will not be subject to any preemptive rights,
rights of first refusal or other similar rights to subscribe for or purchase securities of the Company or any of its subsidiaries.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.
<U>Agreements of the Company.</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
The Offering Statement has become qualified, and the Company will file the Final Offering Circular, subject to the prior approval
of the Selling Agent, pursuant to Rule 253 and Regulation A, within the prescribed time period and will provide a copy of such
filing to the Selling Agent promptly following such filing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
The Company will not, during such period as the Final Offering Circular would be required by law to be delivered in connection
with sales of the Shares by an underwriter or dealer in connection with the offering contemplated by this Agreement (whether physically
or through compliance with Rules 251 and 254 under the Act or any similar rule(s)), file any amendment or supplement to the Offering
Statement or the Final Offering Circular unless a copy thereof shall first have been submitted to the Selling Agent within a reasonable
period of time prior to the filing thereof and the Selling Agent shall not have reasonably objected thereto in good faith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
The Company will notify the Selling Agent promptly, and will, if requested, confirm such notification in writing: (1) when any
amendment to the Offering Statement is filed; (2) of any request by the Commission for any amendments to the Offering Statement
or any amendment or supplements to the Final Offering Circular or for additional information; (3) of the issuance by the Commission
of any stop order preventing or suspending the qualification of the Offering Statement or the Final Offering Circular, or the
initiation of any proceedings for that purpose or the threat thereof; (4) of becoming aware of the occurrence of any event that
in the judgment of the Company makes any statement made in the Offering Statement, the Preliminary Offering Circular, the Pricing
Disclosure Materials or the Final Offering Circular untrue in any material respect or that requires the making of any changes
in the Offering Statement, the Preliminary Offering Circular, the Pricing Disclosure Materials or the Final Offering Circular
in order to make the statements therein, in light of the circumstances in which they are made, not misleading; and (5) of receipt
by the Company of any notification with respect to any suspension of the qualification or exemption from registration of the Shares
for offer and sale in any jurisdiction. If at any time the Commission shall issue any order suspending the qualification of the
Offering Statement in connection with the offering contemplated hereby or in connection with sales of Common Stock pursuant to
market making activities by the Selling Agent, the Company will make every reasonable effort to obtain the withdrawal of any such
order at the earliest possible moment. If the Company has omitted any information from the Offering Statement, it will use its
best efforts to comply with the provisions of and make all requisite filings with the Commission pursuant to Regulation A, the
Act and the Rules and Regulations and to notify the Selling Agent promptly of all such filings.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
If, at any time when the Final Offering Circular relating to the Shares is required to be delivered under the Act, the Company
becomes aware of the occurrence of any event as a result of which the Final Offering Circular, as then amended or supplemented,
would, in the reasonable judgment of counsel to the Company or counsel to the Selling Agent, include any untrue statement of a
material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading, or the Offering Statement, as then amended or supplemented, would, in the reasonable
judgment of counsel to the Company or counsel to the Selling Agent, include any untrue statement of a material fact or omit to
state a material fact necessary to make the statements therein not misleading, or if for any other reason it is necessary, in
the reasonable judgment of counsel to the Company or counsel to the Selling Agent, at any time to amend or supplement the Final
Offering Circular or the Offering Statement to comply with the Act or the Rules and Regulations, the Company will promptly notify
the Selling Agent and will promptly prepare and file with the Commission, at the Company&rsquo;s expense, an amendment to the
Offering Statement and/or an amendment or supplement to the Final Offering Circular that corrects such statement and/or omission
or effects such compliance and will deliver to the Selling Agent, without charge, such number of copies thereof as the Selling
Agent may reasonably request. The Company consents to the use of the Final Offering Circular or any amendment or supplement thereto
by the Selling Agent, and the Selling Agent agrees to provide to each Investor, prior to the Closing and, as applicable, any Subsequent
Closing, a copy of the Final Offering Circular and any amendments or supplements thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
The Company will furnish to the Selling Agent and their counsel, without charge (a) one conformed copy of the Offering Statement
as originally filed with the Commission and each amendment thereto, including financial statements and schedules, and all exhibits
thereto, and (b) so long as an offering circular relating to the Shares is required to be delivered under the Act or the Rules
and Regulations, as many copies of each Preliminary Offering Circular or the Final Offering Circular or any amendment or supplement
thereto as the Selling Agent may reasonably request.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)
If at any time following the distribution of any Written Testing-the-Waters Communication there occurred or occurs an event or
development as a result of which such Written Testing-the-Waters Communication included or would include an untrue statement of
a material fact or omitted or would omit to state a material fact necessary in order to make the statements therein, in the light
of the circumstances existing at that subsequent time, not misleading, the Company has or will promptly notify the Selling Agent
in writing and has or will promptly amend or supplement, at its own expense, such Written Testing-the-Waters Communication to
eliminate or correct such untrue statement or omission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)
The Company will comply with any undertakings contained in the Offering Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
Prior to the sale of the Shares to the Investors, the Company will cooperate with the Selling Agent and its counsel in connection
with the registration or qualification, or exemption therefrom, of the Shares for offer and sale under the state securities or
Blue Sky laws of such jurisdictions as the Selling Agent may reasonably request; provided, that in no event shall the Company
be obligated to qualify to do business in any jurisdiction where it is not now so qualified or to take any action which would
subject it to general service of process in any jurisdiction where it is not now so subject.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)
The Company will apply the net proceeds from the offering and sale of the Shares in the manner set forth in the Final Offering
Circular under the caption &ldquo;Use of Proceeds.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)
The Company will use its reasonable best efforts to ensure that the Shares are listed for trading on the NYSE:MKT upon approval
of the listing application filed with NYSE:.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)
The Company will not at any time, directly or indirectly, take any action intended, or which might reasonably be expected, to
cause or result in, or which will constitute, stabilization of the price of the Shares to facilitate the sale or resale of any
of the Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)
The Company will not, directly or indirectly, without the prior written consent of the Selling Agent, offer to sell, sell, contract
to sell, grant any option or warrant to purchase, make any short sale, or otherwise dispose of (or announce any offer, sale, grant
of any option or warrant to purchase or other disposition), any shares of capital stock of the Company or securities convertible
into, or exchangeable or exercisable for, shares of capital stock of the Company, (the &ldquo;<B>Lock-Up Securities</B>&rdquo;)
for a period of 180 days after the date of this Agreement (the &ldquo;<B>Lock-Up Period</B>&rdquo;), except with respect to (i)
the Shares to be sold hereunder, (ii) the issuance of shares of Common Stock upon the exercise of stock options and warrants outstanding
as of the date hereof and the issuance of Common Stock or stock options under any employee benefit or stock incentive plan of
the Company existing on the date hereof, and described in the Final Offering Circular, (iii) the issuance of Common Stock or stock
options under any non-employee director stock plan or dividend reinvestment plan described in the Final Offering Circular, or
(iv) the issuance of any shares of Common Stock by the Company in connection with a licensing agreement, joint venture, acquisition
or business combination or other collaboration or strategic transaction, <U>provided</U>, <U>however</U> that recipients of such
shares of Common Stock agree to be bound by the terms of the lock-up letter described in Section 7(x) hereof and the sum of the
aggregate number of shares of Common Stock so issued shall not exceed 10% of the total outstanding shares of Common Stock outstanding
immediately following the consummation of this offering of Shares. If the Selling Agent agrees to waive or release any Lock-Up
Securities from the Lock-Up Period, the Company will announce the impending release or waiver by press release through a major
news service at least two business days before the effective date of such release or waiver.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)
The Company will direct its counsel to issue legal opinions to the Company&rsquo;s transfer agent, as requested by the Selling
Agent, to enable the Selling Agent to resell the shares issuable upon cashless exercise of the Selling Agent&rsquo;s Warrant in
accordance with the provisions of Rule 144 under the Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.
<U>Representations and Warranties of the Selling Agent; Agreements of the Selling Agent.</U> The Selling Agent represents and
warrants and covenants to the Company that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
The Selling Agent agrees that it shall not include any &ldquo;<B>issuer information</B>&rdquo; (as defined in Rule 433 under the
Act) in any Written Testing-the-Waters Communication used or referred to by such Selling Agent without the prior consent of the
Company (any such issuer information with respect to whose use the Company has given its consent, &ldquo;<B>Permitted Issuer Information</B>&rdquo;),
provided that &ldquo;<B>issuer information</B>&rdquo; (as defined in Rule 433 under the Act) within the meaning of this Section
5 shall not be deemed to include information prepared by the Selling Agent on the basis of, or derived from, &ldquo;issuer information&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Neither the Selling Agent nor any Dealer, nor any managing member of the Selling Agent or any Dealer, nor any director or executive
officer of the Selling Agent or any Dealer or other officer of the Selling Agent or any Dealer participating in the offering of
the Shares is subject to the disqualification provisions of Rule 262 of the Rules and Regulations. No registered representative
of the Selling Agent or any Dealer, or any other person being compensated by or through the Selling Agent or any Dealer for the
solicitation of Investors, is subject to the disqualification provisions of Rule 262 of the Rules and Regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
The Selling Agent and each Dealer is a member of FINRA and each of them and their respective employees and representatives have
all required licenses and registrations to act under this Agreement, and each shall remain a member or duly licensed, as the case
may be, during the Offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
Except for Participating Dealer Agreements, no agreement will be made by the Selling Agent with any person permitting the resale,
repurchase or distribution of any Shares purchased by such person.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
Except as otherwise consented to by the Company, the Selling Agent has not and will not use or distribute any written offering
materials other than the Preliminary Offering Circular, Pricing Disclosure Materials and the Final Offering Circular. The Selling
Agent has not and will not use any &ldquo;broker-dealer use only&rdquo; materials with members of the public, or has not and will
not make any unauthorized verbal representations or verbal representations which contradict or are inconsistent with the statements
made in the Offering Statement in connection with offers or sales of the Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.
<U>Expenses.</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
Whether or not the transactions contemplated by this Agreement are consummated or this Agreement is terminated, the Company will
pay, or reimburse if paid by the Selling Agent, all costs and expenses incident to the performance of the obligations of the Company
under this Agreement, including but not limited to costs and expenses of or relating to (i) the preparation, printing and filing
of the Offering Statement (including each and every amendment thereto) and exhibits thereto, each Preliminary Offering Circular,
the Pricing Disclosure Materials, the Final Offering Circular and any amendments or supplements thereto, including all fees, disbursements
and other charges of counsel and accountants to the Company, (ii) the preparation and delivery of certificates representing the
Shares (if any), (iii) furnishing (including costs of shipping and mailing) such copies of the Offering Statement (including each
and every amendment thereto), each Preliminary Offering Circular, the Pricing Disclosure Materials, the Final Offering Circular,
and all amendments and supplements thereto, as may be requested for use in connection with the direct placement of the Shares
and market making activities of the Selling Agent, (iv) all fees and expenses in connection with listing the Shares on the NYSE:MKT
including any supplemental listing application, (v) any filings required to be made by the Selling Agent with FINRA, and the fees,
disbursements and other charges of counsel for the Selling Agent in connection therewith, and in connection with any required
review by FINRA, (vi) the registration or qualification of the Shares and the Selling Agent&rsquo;s Securities (as defined in
Section 3(aaa)) for offer and sale under the securities or Blue Sky laws of such jurisdictions designated pursuant to Section
4(j), including the fees, disbursements and other charges of counsel to the Selling Agent in connection therewith up to a maximum
of $25,000, and the preparation and printing of preliminary, supplemental and final Blue Sky memoranda, (vii) all transfer taxes,
if any, with respect to the sale and delivery of the Shares by the Company to the Investors, (viii) fees and disbursements of
the Accountants incurred in delivering the letter(s) described in Section 7(vii) of this Agreement and (ix) the fees and expenses
of the Escrow Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
If this Agreement is terminated by the Selling Agent in accordance with the provisions of Section 7, Section 9(i)(c), (d) or (f),
the Company shall reimburse the Selling Agent for all of its documented out-of-pocket expenses, including the fees of its counsel
(upon abandonment of the Offering or expiration or termination of this Agreement, the legal counsel shall submit their legal fees
to the Company, not to exceed $15,000) (&ldquo;<B>Reimbursable Expenses</B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.
<U>Conditions of the Obligations of the Selling Agent.</U> The obligations of the Selling Agent hereunder are subject to the following
conditions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
(a) No stop order suspending the qualification of the Offering Statement shall have been issued, and no proceedings for that purpose
shall be pending or threatened by any securities or other governmental authority (including, without limitation, the Commission),
(b) no order suspending the effectiveness of the Offering Statement or the qualification or exemption of the Shares under the
securities or Blue Sky laws of any jurisdiction shall be in effect and no proceeding for such purpose shall be pending before,
or threatened or contemplated by, any securities or other governmental authority (including, without limitation, the Commission),
(c) any request for additional information on the part of the staff of any securities or other governmental authority (including,
without limitation, the Commission) shall have been complied with to the satisfaction of the staff of the Commission or such authorities
and (d) after the date hereof no amendment or supplement to the Offering Statement or the Final Offering Circular shall have been
filed unless a copy thereof was first submitted to the Selling Agent and the Selling Agent did not object thereto in good faith,
and the Selling Agent shall have received certificates of the Company, dated as of each Closing Date and signed by the President
and Chief Executive Officer of the Company, and the Chief Financial Officer of the Company, to the effect of clauses (a), (b)
and (c).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
Since the respective dates as of which information is given in the Offering Statement, the Pricing Disclosure Materials and the
Final Offering Circular, (a) there shall not have been a Material Adverse Change, whether or not arising from transactions in
the ordinary course of business, in each case other than as set forth in or contemplated by the Offering Statement, the Pricing
Disclosure Materials and the Final Offering Circular and (b) the Company shall not have sustained any material loss or interference
with its business or properties from fire, explosion, flood or other casualty, whether or not covered by insurance, or from any
labor dispute or any court or legislative or other governmental action, order or decree, which is not set forth in the Offering
Statement, the Pricing Disclosure Materials and the Final Offering Circular, if in the reasonable judgment of the Selling Agent
any such development makes it impracticable or inadvisable to consummate the sale and delivery of the Shares to Investors and
the delivery of the Selling Agent&rsquo;s Securities as contemplated hereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
Since the respective dates as of which information is given in the Offering Statement, the Pricing Disclosure Materials and the
Final Offering Circular, there shall have been no litigation or other proceeding instituted against the Company or any of its
officers or directors in their capacities as such, before or by any federal, state or local or foreign court, commission, regulatory
body, administrative agency or other governmental body, domestic or foreign, which litigation or proceeding, in the reasonable
judgment of the Selling Agent, would reasonably be expected to have a Material Adverse Effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)
Each of the representations and warranties of the Company contained herein shall be true and correct as of each Closing Date in
all respects for those representations and warranties qualified by materiality and in all material respects for those representations
and warranties that are not qualified by materiality, as if made on such date, and all covenants and agreements herein contained
to be performed on the part of the Company and all conditions herein contained to be fulfilled or complied with by the Company
at or prior to such Closing Date shall have been duly performed, fulfilled or complied with in all material respects.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)
The Selling Agent shall have received an opinion and 10b-5 negative assurances letter, dated as of each Closing Date, of Duane
Morris LLP, as counsel to the Company, substantially in the form of <U>Exhibit B</U> hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vi)
The Selling Agent shall have received an opinion, dated as of each Closing Date, of Hunter Taubman Fischer &amp; Li, LLC, as counsel
to the Selling Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vii)
At the Closing and at any Subsequent Closing, the Accountants shall have furnished to the Selling Agent a letter, dated the date
of its delivery (the &ldquo;<B>Comfort Letter</B>&rdquo;), addressed to the Selling Agent and in form and substance reasonably
satisfactory to the Selling Agent containing statements and information of the type ordinarily included in accountants&rsquo;
&ldquo;comfort letters&rdquo; to Selling Agent with respect to the financial statements and certain financial information contained
in the Offering Statement, the Pricing Disclosure Materials and the Final Offering Circular.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(viii)
At the Closing and at any Subsequent Closing, there shall be furnished to the Selling Agent a certificate, dated the date of its
delivery, signed by each of the Chief Executive Officer and the Chief Financial Officer of the Company, in form and substance
satisfactory to the Selling Agent to the effect that each signer has carefully examined the Offering Statement, the Final Offering
Circular and the Pricing Disclosure Materials, and that to each of such person&rsquo;s knowledge:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
(1) As of the date of each such certificate, (x) the Offering Statement does not contain any untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading
and (y) neither the Final Offering Circular nor the Pricing Disclosure Materials contains any untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light
of the circumstances under which they were made, not misleading and (2) no event has occurred as a result of which it is necessary
to amend or supplement the Final Offering Circular in order to make the statements therein not untrue or misleading in any material
respect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Each of the representations and warranties of the Company contained in this Agreement were, when originally made, and are, at
the time such certificate is delivered, true and correct in all respects for those representations and warranties qualified by
materiality and in all material respects for those representations and warranties that are not qualified by materiality.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Each of the covenants required herein to be performed by the Company on or prior to the date of such certificate has been duly,
timely and fully performed and each condition herein required to be complied with by the Company on or prior to the delivery of
such certificate has been duly, timely and fully complied with.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
No stop order suspending the qualification of the Offering Statement or of any part thereof has been issued and no proceedings
for that purpose have been instituted or are contemplated by the Commission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 81pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
Subsequent to the date of the most recent financial statements in the Offering Statement and in the Final Offering Circular, there
has been no Material Adverse Change.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ix)
The Company shall have furnished or caused to be furnished to the Selling Agent such certificates, in addition to those specifically
mentioned herein, as the Selling Agent may have reasonably requested as to the accuracy and completeness on any Closing Date of
any statement in the Offering Statement, the Preliminary Offering Circular, the Pricing Disclosure Materials or the Final Offering
Circular, as to the accuracy on such Closing Date of the representations and warranties of the Company as to the performance by
the Company of its obligations hereunder, or as to the fulfillment of the conditions concurrent and precedent to the obligations
hereunder of the Selling Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x)
The Selling Agent shall have received the lock-up letters referred to in Section 4(m) hereof substantially in the form of <U>Exhibit
A</U> from each director, officer and stockholder of the Company named in <U>Schedule 2</U> hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xii)
The Shares have been approved for quotation upon notice of issuance on the NYSE:MKT.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xiii)
The Company shall have furnished or caused to be furnished to the Selling Agent on each Closing Date satisfactory evidence of
the good standing of the Company and the Subsidiaries in their respective jurisdiction of organization and their good standing
as foreign entities in such other jurisdictions as the Selling Agent may reasonably request, in each case in writing or any standard
form of telecommunication from the appropriate governmental authorities of such jurisdictions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xiv)
FINRA shall not have raised any objection with respect to the fairness or reasonableness of the plan of distribution, or other
arrangements of the transactions, contemplated hereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xv)
On or after the Applicable Time there shall not have occurred any of the following: (a) a suspension or material limitation in
trading in securities generally on the New York Stock Exchange, Inc., NYSE:MKT or Nasdaq; (b) a general moratorium on commercial
banking activities declared by either Federal or New York authorities or a material disruption in commercial banking or securities
settlement or clearance services in the United States; (c) the outbreak or escalation of hostilities involving the United States
or the declaration by the United States of a national emergency or war or (d) the occurrence of any other calamity or crisis or
any change in financial, political or economic conditions in the United States or elsewhere, if the effect of any such event specified
in clause (c) or (d) in the judgment of the Selling Agent makes it impracticable or inadvisable to proceed with the offering or
the delivery of the Shares being delivered on any Closing Date on the terms and in the manner contemplated in the Final Offering
Circular.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-indent: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.
<U>Indemnification.</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
The Company shall indemnify and hold harmless the Selling Agent and each of the Dealers, and each of their directors, officers,
employees and agents and each person, if any, who controls the Selling Agent within the meaning of Section 15 of the Act or Section
20 of the Exchange Act (each an &ldquo;<B>Indemnified Party</B>&rdquo;), from and against any and all losses, claims, liabilities,
expenses and damages, joint or several (including any and all investigative, legal and other expenses reasonably incurred in connection
with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted (whether or not such Indemnified
Party is a party thereto)), to which it, or any of them, may become subject under the Act or other Federal or state statutory
law or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses or damages arise out of or
are based on (a) any untrue statement or alleged untrue statement made by the Company in Section 3 of this Agreement, (b) any
untrue statement or alleged untrue statement of any material fact contained in (1) any Preliminary Offering Circular, the Offering
Statement or the Final Offering Circular or any amendment or supplement thereto, (2) the Pricing Disclosure Materials, (3) any
Written Testing-the-Waters Communication or (4) any application or other document, or any amendment or supplement thereto, executed
by the Company based upon written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify
the Shares under the securities or Blue Sky laws thereof or filed with the Commission or any securities association or securities
exchange (each, an &ldquo;<B>Application</B>&rdquo;), or (c) the omission or alleged omission to state in any Preliminary Offering
Circular, the Offering Statement, the Final Offering Circular, the Pricing Disclosure Materials, or any Written Testing-the-Waters
Communication, or any amendment or supplement thereto, or in any Permitted Issuer Information or any Application a material fact
required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made,
not misleading; <U>provided</U>, <U>however</U>, that the Company will not be liable to the extent that such loss, claim, liability,
expense or damage arises from the sale of the Shares in the offering to any person and is based solely on an untrue statement
or omission or alleged untrue statement or omission made in reliance on and in conformity with written information furnished to
the Company by any Indemnified Party through the Selling Agent expressly for inclusion in the Offering Statement, any Preliminary
Offering Circular, the Final Offering Circular, or Written Testing-the-Waters Communication, or in any amendment or supplement
thereto or in any Application, it being understood and agreed that the only such information furnished by any Indemnified Party
consists of the information described as such in subsection (ii) below. This indemnity agreement will be in addition to any liability
which the Company may otherwise have.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
The Selling Agent will indemnify and hold harmless the Company against any losses, claims, damages or liabilities to which the
Company may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) that (a) arise out of or are based upon any untrue statement made by the Selling Agent in Section 5 of this Agreement,
(b) arise out of or are based upon any failure or alleged failure of the Selling Agent to pay any compensation to a Dealer or
Dealers, or (c) arise out of or are based solely upon an untrue statement or alleged untrue statement of a material fact contained
in the Offering Statement, any Preliminary Offering Circular or the Final Offering Circular, or any amendment or supplement thereto,
or any Written Testing-the-Waters Communication, or arise out of or are based solely upon the omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each
case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission
was made in the Offering Statement, any Preliminary Offering Circular or the Final Offering Circular, or any amendment or supplement
thereto, or any Written Testing-the-Waters Communication, in reliance upon and in conformity with written information furnished
to the Company by the Selling Agent expressly for use therein; and will reimburse the Company for any legal or other expenses
reasonably incurred by the Company in connection with investigating or defending any such action or claim as such expenses are
incurred. The Company acknowledges that, for all purposes under this Agreement, the statements set forth in the paragraphs under
the caption &ldquo;Underwriting&rdquo; in any Preliminary Offering Circular and the Final Offering Circular constitute the only
information relating to the Selling Agent furnished in writing to the Company by the Selling Agent expressly for inclusion in
the Offering Statement, any Preliminary Offering Circular or the Final Offering Circular.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
Promptly after receipt by an Indemnified Party under subsection (i) or (ii) above of notice of the commencement of any action,
such Indemnified Party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection,
notify the indemnifying party in writing of the commencement thereof; but the omission so to notify the indemnifying party shall
not relieve it from any liability which it may have to any Indemnified Party otherwise than under such subsection. In case any
such action shall be brought against any Indemnified Party and it shall notify the indemnifying party of the commencement thereof,
the indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other
indemnifying party similarly notified, to assume the defense thereof, with counsel satisfactory to such Indemnified Party (who
shall not, except with the consent of the Indemnified Party, be counsel to the indemnifying party), and, after notice from the
indemnifying party to such Indemnified Party of its election so to assume the defense thereof, the indemnifying party shall not
be liable to such Indemnified Party under such subsection for any legal expenses of other counsel or any other expenses, in each
case subsequently incurred by such Indemnified Party, in connection with the defense thereof other than reasonable costs of investigation.
No indemnifying party shall, without the written consent of the Indemnified Party, effect the settlement or compromise of, or
consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification
or contribution may be sought hereunder (whether or not the Indemnified Party is an actual or potential party to such action or
claim) unless such settlement, compromise or judgment (a) includes an unconditional release of the Indemnified Party from all
liability arising out of such action or claim and (b) does not include a statement as to or an admission of fault, culpability
or a failure to act, by or on behalf of any Indemnified Party.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)
If the indemnification provided for in this Section 8 is unavailable or insufficient to hold harmless an Indemnified Party under
subsection (i) or (ii) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred
to therein, then each indemnifying party shall contribute to the amount paid or payable by such Indemnified Party as a result
of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect
the relative benefits received by the Company on the one hand and the Selling Agent on the other from the offering of the Shares.
If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law or if the Indemnified
Party failed to give the notice required under subsection (iii) above, then each indemnifying party shall contribute to such amount
paid or payable by such Indemnified Party in such proportion as is appropriate to reflect not only such relative benefits but
also the relative fault of the Company on the one hand and the Selling Agent on the other in connection with the statements or
omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other
relevant equitable considerations. The relative benefits received by the Company on the one hand and the Selling Agent on the
other shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received
by the Company bears to the Fee received by the Selling Agent. The relative fault shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material
fact relates to information supplied by the Company on the one hand or the Selling Agent on the other and the parties&rsquo; relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the
Selling Agent agree that it would not be just and equitable if contribution pursuant to this subsection (iv) were determined by
pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred
to above in this subsection (iv). The amount paid or payable by an Indemnified Party as a result of the losses, claims, damages
or liabilities (or actions in respect thereof) referred to above in this subsection (iv) shall be deemed to include any legal
or other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending any such action
or claim. Notwithstanding the provisions of this subsection (iv), the Selling Agent will not be required to contribute any amount
in excess of the Fee received by the Selling Agent. No person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.
<U>Termination.</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
The obligations of the Selling Agent under this Agreement may be terminated at any time prior to the initial Closing Date, by
notice to the Company from the Selling Agent, without liability on the part of the Selling Agent to the Company if, prior to delivery
and payment for the Shares, in the sole judgment of the Selling Agent: (a) there has occurred any material adverse change in the
securities markets or any event, act or occurrence that has materially disrupted, or in the opinion of the Selling Agent, will
in the future materially disrupt, the securities markets or there shall be such a material adverse change in general financial,
political or economic conditions or the effect of international conditions on the financial markets in the United States is such
as to make it, in the judgment of the Selling Agent, inadvisable or impracticable to market the Shares or enforce contracts for
the sale of the Shares; (b) there has occurred any outbreak of hostilities or escalation thereof or other calamity or crisis or
any change or development involving a prospective change in national or international political, financial or economic conditions,
including without limitation as a result of terrorist activities, such as to make it, in the judgment of the Selling Agent, inadvisable
or impracticable to market the Shares or enforce contracts for the sale of the Shares; (c) trading in the Shares or any securities
of the Company has been suspended or materially limited; (d) trading generally on the New York Stock Exchange, Inc., NYSE:MKT
or Nasdaq has been suspended or materially limited, or minimum or maximum ranges for prices for securities shall have been fixed,
or maximum ranges for prices for securities have been required, by any of said exchanges or by such system or by order of the
Commission, FINRA, or any other governmental or regulatory authority; (e) a banking moratorium has been declared by any state
or Federal authority; or (f) in the judgment of the Selling Agent, there has been, since the time of execution of this Agreement
or since the respective dates as of which information is given in the Final Offering Circular, any material adverse change in
the assets, properties, condition, financial or otherwise, or in the results of operations, business affairs or business prospects
of the Company and its Subsidiaries considered as a whole, whether or not arising in the ordinary course of business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 54pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
If this Agreement is terminated pursuant to this Section, such termination shall be without liability of any party to any other
party except as provided in Section 6 hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10. <U>Notices.</U>
Notice given pursuant to any of the provisions of this Agreement shall be in writing and, unless otherwise specified, shall
be mailed or delivered (i) if to the Company, at the office of the Company, One Broadway, 14th Floor Cambridge, MA 02142,
Attention: Paul R. Gudonis, with copies to Duane Morris LLP, Attention: David N. Feldman, 1540 Broadway, New York, New York
10036 or (ii) if to the Selling Agent, at the office of Tripoint Global Equities, LLC, 1450 Broadway, 26<SUP>th </SUP>Floor,
New York, New York 10018 Attention: Mark Elenowitz, with copies to Hunter Taubman Fischer &amp; Li, LLC, Attention: Louis
Taubman, 1450 Broadway, 26<SUP>th</SUP> Floor, New York, New York 10018 Attention: Louis Taubman, Esq. Any such notice
shall be effective only upon receipt. Any notice under Section 8 may be made by facsimile or telephone, but if so made shall
be subsequently confirmed in writing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.
<U>Survival.</U> The respective representations, warranties, agreements, covenants, indemnities and other statements of the Company
and the Selling Agent set forth in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement shall
remain in full force and effect, regardless of (i) any investigation made by or on behalf of the Company, any of its officers
or directors, the Selling Agent or any controlling person referred to in Section 8 hereof and (ii) delivery of and payment for
the Shares. The respective agreements, covenants, indemnities and other statements set forth in Sections 6, 7, 8 and 10 hereof
shall remain in full force and effect, regardless of any termination or cancellation of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.
<U>Successors.</U> This Agreement shall inure to the benefit of and shall be binding upon the Selling Agent, the Company and their
respective successors, and nothing expressed or mentioned in this Agreement is intended or shall be construed to give any other
person any legal or equitable right, remedy or claim under or in respect of this Agreement, or any provisions herein contained,
this Agreement and all conditions and provisions hereof being intended to be and being for the sole and exclusive benefit of such
persons and for the benefit of no other person except that (i) the indemnification and contribution contained in Sections 8(i)
and (iv) of this Agreement shall also be for the benefit of the directors, officers, employees and agents of the Selling Agent
and any person or persons who control the Selling Agent within the meaning of Section 15 of the Act or Section 20 of the Exchange
Act and (ii) the indemnification and contribution contained in Sections 8(ii) and (iv) of this Agreement shall also be for the
benefit of the directors of the Company, the officers of the Company who have signed the Offering Statement and any person or
persons who control the Company within the meaning of Section 15 of the Act or Section 20 of the Exchange Act. No purchaser of
Shares shall be deemed a successor because of such purchase.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.
<U>Governing Law Provisions.</U> This Agreement shall be governed by and construed in accordance with the internal laws of the
State of New York applicable to agreements made and to be performed in such state. Any legal suit, action or proceeding arising
out of or based upon this Agreement or the transactions contemplated hereby (&ldquo;<B>Related Proceedings</B>&rdquo;) may be
instituted in the New York Courts, and each party irrevocably submits to the exclusive jurisdiction (except for proceedings instituted
in regard to the enforcement of a judgment of any such court (a &ldquo;<B>Related Judgment</B>&rdquo;), as to which such jurisdiction
is non-exclusive) of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by
mail to such party&rsquo;s address set forth above shall be effective service of process for any suit, action or other proceeding
brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit,
action or other proceeding in the New York Courts and irrevocably and unconditionally waive and agree not to plead or claim in
any such court that any such suit, action or other proceeding brought in any such court has been brought in an inconvenient forum.
The Company has irrevocably appointed [_____] pursuant to a Form U-2 Uniform Consent to Service of Process filed with the Secretary
of State of the State of New York, as its agent to receive service of process or other legal summons for purposes of any such
suit, action or proceeding that may be instituted in any state or federal court in the Borough of Manhattan in the City of New
York.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
respect to any Related Proceeding, each party irrevocably waives, to the fullest extent permitted by applicable law, all immunity
(whether on the basis of sovereignty or otherwise) from jurisdiction, service of process, attachment (both before and after judgment)
and execution to which it might otherwise be entitled in the New York Courts, and with respect to any Related Judgment, each party
waives any such immunity in the New York Courts or any other court of competent jurisdiction, and will not raise or claim or cause
to be pleaded any such immunity at or in respect of any such Related Proceeding or Related Judgment, including, without limitation,
any immunity pursuant to the United States Foreign Sovereign Immunities Act of 1976, as amended.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
obligations of the Company pursuant to this Agreement in respect of any sum due to the Selling Agent shall, notwithstanding any
judgment in a currency other than United States dollars, not be discharged until the first business day following receipt by the
Selling Agent of any sum adjudged to be so due in such other currency, on which the Selling Agent may in accordance with normal
banking procedures purchase United States dollars with such other currency. If the United States dollars so purchased are less
than the sum originally due to the Selling Agent in United States dollars hereunder, the Company agrees as a separate obligation
and notwithstanding any such judgment, to indemnify the Selling Agent against such loss. If the United States dollars so purchased
are greater than the sum originally due to the Selling Agent hereunder, the Selling Agent agrees to pay to the Company an amount
equal to the excess of the dollars so purchased over the sum originally due to the Selling Agent hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.
<U>Acknowledgement.</U> The Company acknowledges and agrees that the Selling Agent is acting solely in the capacity of an arm&rsquo;s
length contractual counterparty to the Company with respect to the offering of Shares contemplated hereby. Additionally, the Selling
Agent is not advising the Company or any other person as to any legal, tax, investment, accounting or regulatory matters in any
jurisdiction with respect to the offering contemplated hereby or the process leading thereto (irrespective of whether the Selling
Agent has advised or is advising the Company on other matters). The Company has conferred with its own advisors concerning such
matters and shall be responsible for making its own independent investigation and appraisal of the transactions contemplated hereby,
and the Selling Agent shall have no responsibility or liability to the Company or any other person with respect thereto. The Selling
Agent advises that it and its affiliates are engaged in a broad range of securities and financial services and that it or its
affiliates may have business relationships or enter into contractual relationships with purchasers or potential purchasers of
the Company&rsquo;s securities. Any review by the Selling Agent of the Company, the transactions contemplated hereby or other
matters relating to such transactions will be performed solely for the benefit of the Selling Agent and shall not be on behalf
of, or for the benefit of, the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.
<U>Applicable Law.</U> The validity and interpretations of this Agreement, and the terms and conditions set forth herein, shall
be governed by and construed in accordance with the laws of the State of New York, without giving effect to any provisions relating
to conflicts of laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.
<U>Counterparts.</U> This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.
<U>Entire Agreement.</U> This Agreement constitutes the entire understanding between the parties hereto as to the matters covered
hereby and supersedes all prior understandings, written or oral, relating to such subject matter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[<I>signature
page follows</I>]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></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: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IN
WITNESS WHEREOF, the parties have executed this Agreement on the dates set forth below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MYOMO,
INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 35%; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Paul R. Gudonis</FONT></TD>
    <TD STYLE="width: 60%; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul R. Gudonis</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CEO</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accepted
as of the date hereof:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TRIPOINT
GLOBAL EQUITIES, LLC</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding: 0 0 1.5pt; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 35%; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Mark Elenowitz</FONT></TD>
    <TD STYLE="width: 60%; padding: 0 0 1.5pt; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mark Elenowitz</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive
    Officer</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX1A-11 CONSENT
<SEQUENCE>4
<FILENAME>f1apos2017ex11i_myomoinc.htm
<DESCRIPTION>CONSENT OF MARCUM LLP
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 11.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><U>Independent
Registered Public Accounting Firm&rsquo;s Consent</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">We consent to the inclusion in this Offering
Statement of Myomo, Inc. (the &ldquo;Company&rdquo;) on Form 1-A POS [FILE&nbsp;NO.&nbsp;024-10662] of our report dated March 27, 2017,
which includes an explanatory paragraph as to the Company&rsquo;s ability to continue as a going concern, with respect to our
audits of the financial statements of Myomo, Inc. as of December 31, 2016 and 2015 and for the years ended December 31, 2016 and
2015, which report appears in the Offering Circular, which is part of this Offering Statement. We also consent to the reference
to our Firm under the heading &ldquo;Experts&rdquo; in such Offering Circular.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
Marcum <FONT STYLE="font-variant: small-caps">llp</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcum
<FONT STYLE="font-variant: small-caps">llp</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
York, NY</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March
27, 2017</FONT></P>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX1A-12 OPN CNSL
<SEQUENCE>5
<FILENAME>f1apos2017ex12i_myomoinc.htm
<DESCRIPTION>LEGAL OPINION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">



<P STYLE="margin: 0; text-align: right"><B>Exhibit 12.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse"><TR><TD STYLE="vertical-align: top; width: 30%; font: 10pt Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">LONDON</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">SINGAPORE</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">PHILADELPHIA</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">CHICAGO</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">WASHINGTON, DC</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">SAN FRANCISCO</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">SILICON VALLEY</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">SAN DIEGO</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">SHANGHAI</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">BOSTON</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">HOUSTON</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">LOS ANGELES</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">HANOI</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">HO CHI MINH CITY </FONT></TD>
    <TD STYLE="text-align: center; width: 40%; vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&nbsp; &nbsp; <IMG SRC="ex12iimg_01.jpg" ALT="">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>FIRM and AFFILIATE OFFICES</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp; <I>www.duanemorris.com</I></P></TD>
    <TD STYLE="vertical-align: bottom; width: 30%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">ATLANTA<BR>
BALTIMORE<BR>
WILMINGTON<BR>
MIAMI<BR>
BOCA RATON<BR>
PITTSBURGH<BR>
NEWARK<BR>
LAS VEGAS<BR>
CHERRY HILL<BR>
LAKE TAHOE<BR>
MYANMAR<BR>
OMAN</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>A GCC REPRESENTATIVE OFFICE<BR>
        OF DUANE MORRIS</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><BR>
        &nbsp;<U>MEXICO CITY</U><BR>
        ALLIANCE WITH<BR>
        MIRANDA &amp; ESTAVILLO<BR>
        <U>SRI LANKA</U><BR>
        ALLIANCE WITH<BR>
        GOWERS INTERNATIONAL</P></TD></TR>
</TABLE>


<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">March 27, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.75pt; padding-bottom: 0.15in; padding-left: 5.75pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Myomo, Inc.<BR>
        One Broadway, 14<SUP>th</SUP> Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Cambridge, MA 02142</P></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD>Myomo, Inc. (the &ldquo;<B>Company</B>&rdquo;) Offering Statement on Form 1-A (the &ldquo;<B>Offering Statement</B>&rdquo;)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Ladies and Gentlemen:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We have acted as
special counsel to the Company, a corporation incorporated under the laws of the State of Delaware, in connection with the filing
of the Offering Statement under Regulation A of the Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;),
with the Securities and Exchange Commission relating to the proposed offering by the Company (the &ldquo;<B>Offering</B>&rdquo;)
of up to $15,000,000 in shares (the &ldquo;<B>Shares</B>&rdquo;) of common stock, $0.0001 par value, of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For purposes of
rendering this opinion, we have examined originals or copies (certified or otherwise identified to our satisfaction) of :</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Seventh Amended and Restated Certificate of Incorporation, as filed with the Secretary of State of the State of Delaware
on December 20, 2016 and the Eighth Amended and Restated Certificate of Incorporation that the Company intends to file and that
will be effective upon the consummation of the sale of the Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Bylaws of the Company in the form filed with the Securities and Exchange Commission and the Amended and Restated Bylaws
that the Company has adopted in connection with, and that will become effective upon, the consummation of the sale of the Shares;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Resolutions of the Board of Directors of the Company adopted by unanimous consent on January 2, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We have also examined
such other certificates of public officials, such certificates of executive officers of the Company and such other records, agreements,
documents and instruments as we have deemed relevant and necessary as a basis for the opinion hereafter set forth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><TD STYLE="padding: 0; font: small-caps 10pt Times New Roman, Times, Serif; text-indent: 0; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Duane
    Morris llp&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; font: small-caps 10pt Times New Roman, Times, Serif; text-indent: 0; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1540
    BROADWAY&nbsp;&nbsp;&nbsp;&nbsp;NEW YORK, NY 10036-4086</FONT></TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; text-indent: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PHONE:
    +1 212 692 1000&nbsp;&nbsp;&nbsp;&nbsp;FAX: +1 212 692 1020</FONT></TD></TR>
</TABLE>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 50%; padding: 0; text-indent: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; padding: 0; text-indent: 0; font: 10pt Times New Roman, Times, Serif; text-align: right"><IMG SRC="ex12iimg_02.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0; text-indent: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Myomo, Inc.</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">March 27, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Page
2</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In such examination,
we have assumed:&nbsp; (i) the genuineness of all signatures, (ii) the legal capacity of all natural persons, (iii) the authenticity
of all documents submitted to us as originals, (iv) the conformity to original documents of all documents submitted to us as certified,
conformed or other copies and the authenticity of the originals of such documents and (v) that all records and other information
made available to us by the Company on which we have relied are complete in all material respects.&nbsp; As to all questions of
fact material to this opinion, we have relied solely upon the above-referenced certificates or comparable documents and other documents
delivered pursuant thereto, have not performed or had performed any independent research of public records and have assumed that
certificates of or other comparable documents from public officials dated prior to the date hereof remain accurate as of the date
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Based on the foregoing
and on such legal considerations as we deem relevant, we are of the opinion that the Shares, when issued and delivered against
payment therefor as described in the Offering Statement, will be validly issued, fully paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The foregoing opinion
is limited to the Delaware General Corporation Law, as currently in effect, and we do not express any opinion herein concerning
any other law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The opinion expressed
herein is rendered as of the date hereof and is based on existing law, which is subject to change.&nbsp; Where our opinion expressed
herein refers to events to occur at a future date, we have assumed that there will have been no changes in the relevant law or
facts between the date hereof and such future date.&nbsp; We do not undertake to advise you of any changes in the opinion expressed
herein from matters that may hereafter arise or be brought to our attention or to revise or supplement such opinion should the
present laws of any jurisdiction be changed by legislative action, judicial decision or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our opinion expressed
herein is limited to the matters expressly stated herein, and no opinion is implied or may be inferred beyond the matters expressly
stated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: justify; text-indent: 0.5in">We hereby consent
to the use of this letter as an exhibit to the Offering Statement and to any and all references to our firm in the offering circular
that is a part of the Offering Statement.&nbsp; In giving this consent, we do not admit that we are within the category of persons
whose consent is required under Section 7 of the Securities Act, or the rules and regulations of the Securities and Exchange Commission.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="width: 35%">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>/s/ Duane Morris LLP</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Duane Morris LLP</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: justify; text-indent: 0.5in"><BR></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !- /H# 2(  A$! Q$!_\0
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MUD3U*4/_ "&_P'\A74#H*YB'']N?@/Y"NH'05TPV+*6/].F_ZYQ_S>GTT_\
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M5L9P0>,^U%D*Y'#JMT+R."YM$C,H)1ED)QCJ#QUJ%O$)6TAE-N#)([ INR%
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LL?F<CD^P]*Z5=.MP0=M68K.&/HHH4!6,_1=.^R1#/!QZ=ZV:0#'2EJRC_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>image_002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_002.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !) (X# 2(  A$! Q$!_\0
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$0!__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>image_003.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_003.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  : )8# 2(  A$! Q$!_\0
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-50% &  .!13Z* /_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>image_004.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_004.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" "@ /H# 2(  A$! Q$!_\0
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M+_\ '*]%XSCC-4;_ %C3-+0M?W]M;8&3YD@!_+.:OV3[E^R?<XG^T_B+_P!
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M_4XS5/\ DL.E_P#7$?\ H,E=]>SM;V$\R*&9$+ 'H2!7 ZI_R6'2_P#KB/\
MT&2O0W198FC<95@5(]0>#2I;L5+=GEM]XMU"/3I_M=R4:5]\,L:@]"1MVG@C
M'7I]17(Z%XR:/Q'>:M=6B/9_):W,]NP.UB!L?R\D@$#&02,@8Y-9_P 3K"_T
MZW=))6:*WO"J@ C$;KD ^HRI.?>O/K+4[G2[@W=L0?,C:*:)N5E1A\RD?J#V
M(!K:QJST?QCX[_M&9K.QC(MD8%F+8,A'(!QV'IQGC(K@;JXGO;CSIY2S8 !
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MUGASE<!Q]3P?Y"O#->LUTR^AO[(E[.X421-WVD9(/N.1]0:]?^&TKWFC27K
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M_09*]''2O.-4_P"2PZ7_ -<1_P"@R5Z..E%+=BI=0K,US2(-:TN:SG175U(
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M<LC7IC,8\D[F"LN&&,?+@<DCJ,@XS5SQ#<:!<:I#!F62W "RA@/,C)ZE2#@
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MG)#%[ILJ2!UVC S]<UT:92(0HJ0Q 86.-0H ^@%#%Z'GNF?#2\<!]2NH;)2
M3&A\Z3\>B@_G6U#\/?#=H=Q:^G).6!E"ACW.% Q^%=G!875P,I"P4]VX&/QZ
M_E6A%H"G_CXE)_V4X_,TDK <EIND6%O.(=(T6U64?\M"FYA[ECG'^>*["VT9
M_+!O+AI&Q_JX_E0?3')K2MK2"TC\N",(N<G ZGWJ>F!P'B_X90^))/.M=5NK
M"4@9C!+PMC_9R,'W!_"N17X"3&+#^(8PY/S$6A(Q[9;K[U[9WHH \_T'X1>'
MM&B43F:^D'),AVJ3_NC^I-=S;6D%G L%M$L4*#"H@P!5BB@ HHHH 0]J;V_
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MS'/OELX/TQ72C@8 P . !TKQO^RO%/\ T%]0_P# B3_&C^R?%/\ T%]0_P#
MB3_&CVD_Y1>TG_*>R<4<5XW_ &3XI_Z"^H?^!$G^-']D^*?^@OJ'_@1)_C1S
MS_E#GG_*>R<4<5XW_9/BG_H+ZA_X$2?XT?V3XI_Z"^H?^!$G^-'//^4.>?\
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
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>chart.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 chart.jpg
M_]C_X  02D9)1@ ! 0   0 !  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1" &N VL# 2(  A$! Q$!_\0
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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M):*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M_"+]AG]HSX6^(/V<F\9^)]:\8ZSX)^$/[2G@KQ-XCTWX266O>(KB^UFX\.>
MSX#M9-*74+^\NFGU_4I#/*7G)_HFN+J.**22=TAA57+3.=J1H%)=Y&;A45 7
M=SA50%B< FMVFE=II.UF]FY.RMO>[^[J1SQNHJ2YGLM?GT[)V/R@_P""F/\
MR5K]@7_LXD_^DNF5^N$?WY?]\?\ H(K\6O\ @H#\1_ 7C[XN?L(Q^"_&?A7Q
M5<:;^T!'=ZE;^'->TW6WL+6Y%C:6UQ='3I[A(HY[B&2&-G93YJM'MR*_:6/[
M\O\ OC_T$4%DM%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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M']F2\_X))?M1_LG?#:']I_Q[_P $T/AWJWP6^)WP*TOQ5HO@GQ5\7OA9X_\
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M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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MQ^\0!UQUR?7&!TR37]?_ $>TZG!^>48*]2>:1:CM=0HX9RU=DK6ZO76Q_?\
M]$UVX*XB?;.&W\L)A2Y#UD_WA_Z H-7JIVZ@%\G.X[NF.JC ZG^'GMS[U<K^
MC5)22:U34==?Y8I[ZZ--:]C^K6K.U[Z0V_P104444""BBD) !YZ<?CC./RK-
MU(K=-?=Z=_,!:*B+L ,@9(R<^O/I_G^5(SOM#+@#(!R,XR0!G\P/K0JL)5'3
M3?,KWT=M-[2V8[>:^\FJ*?\ U,O^XW\JB>24*2"I;C QP1GGMZ?U/:HFEE9'
M5PH!1\X]ER/S.<UH(_)G_@IC_P E:_8%_P"SB3_Z2Z97ZX1_?E_WQ_Z"*_(_
M_@IC_P E:_8%_P"SB3_Z2Z97ZX1_?E_WQ_Z"* ):*** "BBB@ HHHH ****
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M!7^?-_P0M??_ ,%+/@X6 /\ Q2?Q#4@#'RKHP4?7IGGN.*_T&D.5!]1_G_\
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MTY-MV>R@V]DF?UZ?)_M?I1N5/F^;TZ;O?H.>@/\ GK_(;_Q$\^-O^C0--_\
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M3/X7_P!N_P#I40/PL_X.&?\ E';XF_[*3X _]/5?P?/]X_A_(5_>#_P<,_\
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MW_*,[]LS_LBGC#_T1)7^<U-]U_\ KI-_Z+6O]&7_ (*_?\HSOVS/^R*>,/\
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M^SB3_P"DNF5^N$?WY?\ ?'_H(IEDM%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 5!<X\B3)*\=0Q4Y'(Y4@C\Q4]
M0W !@E!Y!0@_3OZT6OI9.^EGL[Z6?D[V?DQK=:M:K5;K5:J^ES^6K_@Y@53\
M&_V>,JK8^)&I,NX$M&1I<GS(W5&)X+#DC().37\@;W$\@1/,(7@$EB!VZ8]0
M22#C)//.<_V!?\',0'_"FOV>#CI\1=1'/&1_94@&<<G Q^(Q7\?$WWD/MCC
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M'\A7]X/_  <,_P#*.WQ-_P!E)\ ?^GJOX/G^\?P_D*_C'Z1'_)6X+_L74_\
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MQ1_IO]&^2_XA3DRM_P Q.*5[].=EZBBBOUX_> JK+]Z7_KFO\GJU567[TO\
MUS7^3U,_A?\ V[_Z5$#\+/\ @X9_Y1V^)O\ LI/@#_T]5_!\_P!X_A_(5_>#
M_P '#/\ RCM\3?\ 92? '_IZK^#Y_O'\/Y"OXQ^D1_R5N"_[%U/_ -M/\[_I
M6?\ )>X/_L4TO_3C&U/_ ,L&_P!]/_0!4%3_ /+!O]]/_0!7X'1_B+_#5_\
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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M_%?]@2_],Q/\V_I-?\G/J?\ 8GH/_P I$-/C_P!8GU;_ - :F4^/_6)]6_\
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M #_P[._;+Q_T13Q?^7DR9_2O\YJ;[K_]=)O_ $6M?Q]](;_D?9'_ -@6&_\
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MXJ?_ )8L/]M.>W"#/?OV_K7X)17[Q?X:O_IJH?S/0WC_ -A&&_\ 3DC]>O\
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M*T$%%%% !1110 5%/_J9?]QOY5+44_\ J9?]QOY4 ?D?_P %,?\ DK7[ O\
MV<2?_273*_7"/[\O^^/_ $$5^1__  4Q_P"2M?L"_P#9Q)_])=,K]<(_OR_[
MX_\ 010!+1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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M/)N&0 #CCL0>_7Z<Y]*J/Q1]5^8GSI-TTG4M[BDVHN7V5)QU2;WMKV/Y<_\
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M.XG/W0$+>XP#G@'!(SCWIK7(!P8Y6Q_="A<XZ<D'(Z$>O'M51Y$!7Y7P1U9
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M/KZ]?QK*+H%(Q(67&50A2RLP#'&[=QD!@>2%XZ&M)"-J@9P  /H .3GZX_\
MK5DHU(MN4U.+T5H\MK/=N[7DK;EJ=.3:A4YVDFURM-)NRW2;OZ:#Z***HHAE
M[_[I_K6<?NK_ +__ +(:T9>_^Z?ZUG'[J_[_ /[(:4_^7'_7V/\ [>1+:?\
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M^#OP!_[*%<G_ ,IMQ_A7\=S?>7Z?S45_"/CKIQYB?/ T5_Y)4/\ JZ_9/_\
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M[OPG_P#3;XFK^M\]1_UR3^45?Z%>#_\ R;OA#TQ'_I_$'_'-^T=_Y3-\9O\
ML>Y3_P"JC"&LO0?0?RI:1>@^@_E2U^G'\0!4%S_J7^A_D:GJ"Y_U+_0_R--;
MKU7YF=7^'/\ PO\ 0_E^_P"#F7_DCOP!_P"RA77_ *;;BOX[F^^GT_\ 917]
MB/\ P<R_\D=^ /\ V4*Z_P#3;<5_'<WWT^G_ +**_A'QV_Y+S$?]@-'_ -(F
M?]77[)__ )1"X2_[*KC'_P!:#""T'H?^ _\ H:T4'H?^ _\ H:U^,4OXD?\
MM[_TBH?Z?5OX-7_KW/\ ])9_1'_P;<?\G8_&7_LC"_\ J3:97]M-IT/_  +_
M -#-?Q+?\&W'_)V/QE_[(PO_ *DVF5_;3:=#_P "_P#0S7]Z^"'_ ";K)_\
ML*Q7_IZ9_P CO[5#_E-'Q%_[$_!/_K/(N4445^OG^=H5GW'^M;_KFG_H1K0K
M/N/]:W_7-/\ T(U+^*'J_P B*G\&O_UXJ_\ I)^&/_!P5_RCS\0?]E(\"_\
MI]:OX1%Z#Z#^5?W=_P#!P5_RCS\0?]E(\"_^GUJ_A$7H/H/Y5_%7TC/^2UH?
M]BRE_P"G)'_43^QJ_P"48N(O^SJ\4?\ JOR$6@_ZQ?\ KFW_ *"E%!_UB_\
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MVR^L=1O+*[81/;W 6:)9.K>5GCER !MD4')YVY'(/0DD>_&.._\ .-_P1?\
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M_P!-8H_@9_X+Z?\ *2/Q_P#]DV^&?_J/"OQDK]F_^"^G_*2/Q_\ ]DV^&?\
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M$-9>@^@_E2TB]!]!_*EK]./X@"H+G_4O]#_(U/4%S_J7^A_D::W7JOS,ZO\
M#G_A?Z'\OW_!S+_R1WX _P#90KK_ --MQ7\=S??3Z?\ LHK^Q'_@YE_Y([\
M?^RA77_IMN*_CN;[Z?3_ -E%?PCX[?\ )>8C_L!H_P#I$S_JZ_9/_P#*(7"7
M_95<8_\ K0806@]#_P !_P#0UHH/0_\  ?\ T-:_&*7\2/\ V]_Z14/]/JW\
M&K_U[G_Z2S^B/_@VX_Y.Q^,O_9&%_P#4FTRO[:;3H?\ @7_H9K^);_@VY./V
ML?C-[?!8'\O%&E5_;3:=#^/_ *$:_O7P/_Y-UE'EBL5_Z>F?\CG[5#_E-'Q%
M_P"Q/P3_ .L\BY1117Z^?YW!6?<?ZUO^N:?^A&M"L^X_UK?]<T_]"-2_BAZO
M\B*G\&O_ ->*O_I)^&/_  <%?\H\_$'_ &4CP+_Z?6K^$1>@^@_E7]W?_!P5
M_P H\_$'_92/ O\ Z?6K^$1>@^@_E7\5?2,_Y+6A_P!BRE_Z<D?]1/[&K_E&
M+B+_ +.KQ1_ZK\A%H/\ K%_ZYM_Z"E%(?]8.>J-Z\'8O'T/7MTSVK\$H?&_^
MO=7_ --R/]9L9MA_^PO#_P#I4S]??^"%_P#RDC^&7_8K^-O_ $AL*_T&D^Z/
MQ_F:_P ^3_@AA_RDB^&/_8L>-<]>GV&QSR.G\J_T&D^Z._7\LG'Z5_<OT?\
M_DWU)?\ 4TQG_MA_RR_M@?\ E*_!_P#9M.&^O_4?FWW#Z***_;3_ "M&2?<;
MZ4Q?NI_P#^;4^3[C?2F+]U/^ ?S:E+:/^+_VT4O@?^)?^DR/RW_X++_\HS?V
MO_\ LE.M_P#I1%7^=J>D/_7-_P#T-:_T2O\ @LO_ ,HS?VO_ /LE.M_^E$5?
MYVIZ0_\ 7-__ $-:_D/Z1_\ R.,D_P"Q=2_].XH_Z-/V*?\ R;;Q>_[+;)/_
M %3P"D/3\5_F*6D/3\5_F*_FNM_&?^+_ .1/]NL+_N]/_%5_].S/I7]BO_D]
M?]BO_L\#]F;_ -7+X.K_ $[(_P#CVB_ZXK_Z*K_,3_8K_P"3U_V*_P#L\#]F
M;_U<O@ZO].R/_CVB_P"N*_\ HJO[#^CI_P DGG__ &,H_P#IB!_S0_MJ?^4A
M/#;_ +-9E_\ ZUV<%JV_U(_[9_\ HL5>JC;?ZD?]L_\ T6*O5_1_V8?X5^43
M_&Z.TO\ KY6_]/U HHHI%'QM^V5K7[2NG_LK?'"3]C[P]HGBK]IV7P3JNB_!
MG1-?U[0?"^@6OC6=K71[2ZO]?\0ZGHFG_9=)GO7\20QW6I:5)J=K:V^GVTEK
M>2"4?S9?\$;OV4/^"IO_  3MOKW3?%__  2R^$?C#XK_ !_^)[:[^UA^W#XS
M_;S^&6N_%'Q#I>O^)3K.JWMMX1TCPIKFJ1:/HJW-UK@\&Z9XAG?Q5XFDDU35
M]0>22R?2O[!#I=HZLDHDE#+=IN>3$@ANYI99+>.9 DT4$?FB*)(G3;#'#&2P
MC!ISZ=:LR2R*SR0K((V=N(U=%0JJ +&  B["%RAX4@<5@I--M;R5F[M/\+_U
MWV!:)17PKITZ?Y=_0_E$^/'_  31_P""CGPQU#_@H'^S1^QMX2^!_C/]E_\
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M?D?_ ,%,?^2M?L"_]G$G_P!)=,K]<(_OR_[X_P#016HR6BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "B@]#_7I^--/*G!['_//3_/UH =13.<#&2,<C@<=".F?QI<XV\8Z@@<X
MP.!P#S_DT$\W?3YH=14>!Z87)P=PQ^'UQZTN>2V.   >YZ=N.YZX%'IJ._3;
MM=K7^M_0?12<$<]#Z\>_],_2@?GP.?7\:!BT4?Y_S^=% !65>_ZT_P"XG_HP
M5JUE7H_>Y]D_#D_SQQU'4G'%/I/_ *]5/_269U?X57_!_P"WTC_-L_X*@?\
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M_!_!V"H+G_4O]#_(U/4%S_J6]^/SXIQ^)>J_,SJ_PY_X7^A_+]_P<R_\D=^
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M_@GZ]?\ !"YBW_!2+X8 _P 7A'QM*?\ >^QZ>,#KQ@GCZ<U_H/1_<7Z?U/\
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M\:_$7<,J&4+KD>  PSDC)YR!S@<5^XEN=T*9P?E&3D')(!Y]^1V_+I7X/?\
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MQ5+-,HX#XFSO*ZN A+#9CPSPIQ+G6%JJ,6OWV+P^5XV"?->\[RC!7:ANE_U
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MOD684*M?$5,)Q!E];*,PA"M.<H1C@\1"E7MOR^VIQDXJ;>D4H_\ *Q^TZSC
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MQ2\&:7X2TO5-8M-*N/$5]I\[ZQ>KI33DB;^R-.MI]2OXI%1[BT1HH6WN@/\
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M,/!12A0I1A2@M(TXKW5Z#_PL[XA?]#IXH'H?[1N3QW_C'I_G%(WQ.^(6UO\
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M/8&OB*M7$5Y5ZSG6KU)UZT_95W"FI5J\ZM22A"G",%*;Y(PC&'+&*2U5 "@
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MKW_REV^&G_9'OCA_ZA<U?Z>$/4_0?R6O^4']J_A<+A?IC9_0PN%PV%HQ\/\
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MY>TM+*ZZ>6A\1#&8RG.+IXO%TVU-MT\3B:;O&+<;N&*B[IW:UNFVTTS]4/\
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MH0?D=3RC+R'PPYK_ ##2S%XW#L'6)51]S!DC'"(K9W*B]  <8X/:O]//_@Z
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MO SGLK+71>=K*^]^GKW^8'\N7[0W_!)G]N[3/$G[<'P1_8W^(/[.VG?L>?\
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MM:'^\87_ +"\+_ZEX,4OAE_AE_Z1,_Q)-2YU;70.,:UKI[Y).K78Y)R<]/\
M"J;8#-VR!TP,\CVYYR?7CTJ[J/\ R%M>_P"PUKO_ *=[NJ;]3_NC_P!"%?\
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M)_\ 3=X[K^X"'_EK_P!=G_I7\/\ _P &;G_'I^WO_P!AKX$_^F[QW7]P$/\
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MDDD>2-;2**!))G#_ (+L_M%<Y_8-^$X.<\?ME:UST''_ !BX.IXY&"?U^B?
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MWD2(<<# QNYS^O7G&*^)O^"CI#?L!?MI*AW%OV7?CC(W.=J0_#S7&9F(Q@(
M6()R5&%!P17S8W_!9;]DQFR/"?QX& 1QX&\+'@@#_H?#TZ XSVZ5\[?M9_\
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MA5I4X1FIIJ5U3C&S4ES*W*XVN[M*74_73[1;_P#/>'_OZG_Q5'VBW_Y[P_\
M?U/_ (JOR,_X?,?LE#)/A+X[@ $D_P#"#^%N .23_P 5WT Y-3'_ (+(?LI*
MZQ-X,^/2R,,K&W@7PLCD^0ET4"MX[!\U;:2.=HB!*L4L3L@61"?R(] _6E[B
M YQ-"?E;'[U.N#@8W#J<=^?;FL]F5E8,R9V[B"R\=2<<GY<9)YS@9]C^3Q_X
M+,?LED9'A+X\#@_\R-X6SR."!_PGF/<9!SQBJ\W_  61_90DCDC'A3X]!G0J
MI?P-X8D4GD;F1/B%$S '!*B2,L!U KDKTW.>'Y$E*.(4Y-6YU3C2Q:ERK=J\
MXI[)N5MVDZ4FG;57B[-=]5;YIM]-C_/,_P""X\3/_P %:OV[73)1?C-.6$95
MF_Y%S0E;.PEE 8,,L  S%2<]/RDP#D[I/3A3ZGT'J,'/<>QK^@;_ (*0?LA_
M%C]KK]N#]IS]I#X5ZUX"TWX>_&#XB+XP\&Z=X]UO7-#\6VUA<Z)IEC=6_B/3
M=+\)^)+.SF@N;)X[:SL-<O("FV=I]Q,2_#I_X)9?M.Y)'B3X%C///B_QAP1Z
M_P#%O.!QQS[D^G_5C]%7Z8/T9N$/HZ^#O#'%'BGPUD^?Y%X?\-Y;FV79EC)5
ML5A<;A<%6IXBA.-"J_J[I5&X?5ZT:=6'-%RA:<9'XCGG#^;XC-,97PV!K3I3
MKU)1DJ4DI)S;NKP=TTUKU?W'YO( &Y,A&UC@JV. >V.>I_/U-)"A8R*JR/\
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MM3UJXT'PGXW\/:UK5GH>FZGX%L[&Z\03Z=:W$NDB[U'3K0FVNH+B[1YX ?\
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MQBC^S[9>MM;=B 8$/([D8(/0=&';.<$#\@M3_P""Z7_!/K1_VD)?V=;OQ?\
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MBUL^_2W0\]#C*X&.0"3W.3BKLD@C )!//;&?;/M_GIFO@W]M[_@H_P#LR?L
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M3@4-I*[=D!5-C;CK:66.,D0(,9('5ACOGCN,$BFBQL\9-K9=3_RPA(^G'UZ
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MMKGS(WC"-+$")'K]U?&__!)9OC9^R7X>_9V_:0_:_P#CY\<OBS\._B\/C?\
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MS5MO%X6*UM?#RV4<NH7%V?)LU#32(WVFUNSH58@9//?Y=@0C\1GZ>AK\I/\
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M  E21P<'@X/8\5\Q?M7?L[:M^T[^SM\6_P!G^P^*OBOX,-\6O"%[X+OOB/X
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M01%3_0WX=^"OA7P1\(=#^"'@2UA\+> O"'PUTWX3^"]+M!)=KX>\(:!X.L_
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M#H&O:F^GN=7DC>/;;PFOZ$UM'6)8@8U"JJ (@1 L:E5V(N B*"JJBX"J-HX
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MU(TZ?,XQ4UR\W-*+CXW$>:U\FRN>*PU)UJD'!*-I/XG*^D6MMVE?H]%<_P!
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M\+:;-->:9X9\4:[X)U33)_$&D:9-/++I]MJ8G>R:0FV>,'%?I6-/MPY?:Y)
M',LA'&, J6(X[8Z#CH34OV>)020QS@DEB3QP.X[?S)ZU.8YIG6>8VGF6=9CF
M.;X]5*M&KC<VS7&9OC)8*/,L-36)QDJE5N#Y&J3ERT4I1C*5[RFE35."I*$(
M03TC224?_ >6,;]VK7>NK/ ?V>_V;?@O^RG\+?#'P;^!'@JT\#^ ?"<NI7.F
MZ5;W-W?75WJNN7HU/Q%KFLZK?SW.HZSKOB+5@VIZUJFH7$]W?ZC(]Q)("0!S
M?[/G[)/P:_9H\*?%OP1\.=*UB7PS\<?C-\6OCO\ $/3?%^N7WBN/5/&WQKO(
M;_Q[% -5>86?AV_DMDBM?#\0%A96TLT,$825A7U&T,?!(.%ST)'7\>3[DY[C
MFG&%&"@@X48 !(]!DXZG P,] 3ZUS5H.HDD[)Z2=_--M>=UJNW7H*$)J3<FN
M37D2U:WMOM9-;;^I^/OP1_X(??\ !/[]GSXV^'/CEX$\'?$N\U/P%XBU#Q3\
M+/AUXR^,/CWQC\%_A'X@U$W<IU3X:?"W7=8N_"OA6:Q6]O(-%%C9!-(@NIH-
M/6!"H';_ +77_!(7]C+]MCXIV_QF^*^D_%/PO\3)O#FG^#O%WB?X,_%[QS\(
M[KXC>#]*DN'T[PI\1X_!FK:=#XNTBRCN[VVM8=3CEEBL[RYMXYA#*5K]2C!&
M1@[CD@YW-G(!'7.>A(^E"P1IT![#EF/0@\9/'0?A0Z<+4[.2E3MVLTD]/+U_
MIZORZ_G_ %8\X^%7PG^'OP1^'W@_X5_"OPMI?@SP!X"\/:=X5\*>&M'A^SV&
MD:%I<1BL[.%!G>4!9Y)Y-T\\KO)-([L6/>RJ&(4C)97 Y/\ $5R.O?"].%/)
MX)JZ44]B.<\$TPP(64G/R@@$,P/)R20.&/3!/(YQU.::NK7M_P #I\_EV,N1
M]8PFGI*,FTG&5E/IJU'9/1[-I'RE^TK^QY^SQ^UUHWAS1OV@OAKHOQ)TCPAK
M7_"1>&+#6H99ET;7?L<^G'5+)H98G@NVT^\N+-FW%)8+B52K9S7S3X+_ ."0
M_P#P3R\!^+_#/C;PM^S/X*T3Q1X1UBS\1>'-2BMKPW.G:WI]TM[8ZI 6N67S
M[2=%DA9T81G 4#D']/WMH-I!5@">BNXQ_N_-\O3MZ^N"(TM($C=4#A6)SF21
MFY(XW%RP7IE5*@^QKSZF3Y=B:T,5BL)3K8BE*+I594X3E!W3^-QYKII6:?31
MQ/K<'QKQME>6RR;)^,.(<KR.I&=&IDV#QV)H9=6I5XN%=5</2Q5.E/G@VG&5
M*49W:FVF?.&I_LO_  JO_P!ISP]^UU=V?B!OC'X8^$VH?!;2;R+Q#J$?AN/P
M1JFO'Q)>17'AE'&FS:I)J6&_M22,W2PCR5;9Q7#:3^PM\ M/^%W[7GPDM=/\
M7)X1_;>\3?'+Q7\<TD\7ZQ)J=SK'[0OAJY\*?$9O"6J&;[3X2MY](NYET:WT
MEHH]%N2MS9!)4!'V9]GB08PW3'WW)VAAQEF)SS^7 QUJ1(DC  !Y/=F/)))Z
MGID\>WKP*[JL95)PFK*-.,H03;NDTEHEHM$M%Y]SY/EJZ\]>52"?N0G",4KO
MF;;C?52=TGS)J3U6A\B>!?V)_@;\.OB3^SW\4_#=GXI3Q7^S)^R_J/[(OPM>
M_P#%.HZAI]M\']3N/AO<75OKEE<LXUOQ&S_"SPJ#X@NV-Y*$NC/YKRH\7U+_
M &?:%7#1"030M;3QR@21SQ,CQRI<1ME'68,_G[E/F;B6SS6N8E/=N,_Q$'G&
M>1]!2>1'SD,<D$DLQ)(!'4GT)SZ]3S52C&=)TVY)O=K36^G7;5^@U&7-%W5D
M];>C[[/;;M;8_&T?\$)/^"<9^,DOQ>_X5MXY_L^3QHWQ(D^!9^*_CL_LU/X^
MDOSJK>*V^!K:P? W]IG5]VKD_P!FBU.J,UZ8/.8FOTE\:?L^_"+X@^//@[\2
M_%O@ZPU7QC\ =2\0ZG\)M5?*'PA>>+-%L_#^N2:?"A6+;=Z5:06RAE(B"/Y0
M0NV?;/(C)8'<1@ Y=CG/)ZGO@9[G')I_E)@CYN<?Q-QMQ@CG@\#)ZUG"GR*F
MDW:#E>]D[./+&V^J^3\RW[TW.][JVN]U)MN_F>#_  Z_9U^$'PH\??'KXF>
MO"5MX?\ &O[2_CKP[\0_C!K=M)(UQXF\5^%/ WAOX>Z!?@.2+.+3]"\)V$L5
MK;!+<ZO>:SJ[HU[JM[++^=?Q&_X(6?\ !/3XG?&3Q%\8]<\$?$W2$\=>*]7\
M=_$+X/\ @_XS?$3PG\ OB!XV\1W]SK/B/Q1XM^$&BZY:>$=2U3Q!K%S)JVO.
M+&*'5=02*YO(9'3-?L6(4&/O<9Q\Q/7/)YY/S'D\T") 0?F..1EF(].A/H35
MI2524[VNHJ/DU?7R>JMWV?<'^GZ'RGI/['GP.T#]IG2_VL=#T75M'^*NC? Z
MW_9VTR#3M<O[7P79?#&QU>TU>PTN#P=$ZZ/'=Z?/96\%C?+")[>R06R$1G!^
ML:A,$9.2"3SU)[G)XSC],]LXP!-5N4I6YMTDEJWIVUVMKHM-3*G&4>;F:=VF
MK=-'>^BUO;U*=[&LMM.A9D#Q[-Z,4DC+$8DC;&5E0D/&P((< @@@5^8=W_P1
MO_X)I:E=W.H3_LD_"@W5[J%QJEVQTB9%EO;VYGO+F;:MRJ+]HN;B:6954*[/
M@K@+7ZC$!U*MT.0<<=#_ /6J%K:)A\P8X7'WF!]<\$#(' XX'2O-S'+,OS6$
M<-F&!PV,I0?M(^WBIRA+:\4X.VV_,KZKUXLQRC*\TA&.8Y=A,P=-_NXXRG"K
M3@M&W&,X5(IWN[J-^C=CY4_9U_8T_9G_ &2HO%5O^SK\)/"_PLB\=3:9=^+Q
MX6M'M3X@NM"M[RTT2[U%GDE>>XTJWU#48;!BP-O'?W85<3,#\^:W_P $I?V.
MO%'[(FI?L.^(?"WC#6/@%J_Q1U?XR7FD7_CC6Y_$+>-=<^(UU\4-1N(?$S3G
M5+?3I_$]]>;=.CF6W&EW,VF &VD*5^EWDQ-MRI/4#+'..X)!SSSW.<GU-*+:
M(<X8GKDNQ.3C)Z]3@?TQQ6V'PM+"4Z=/!T*.$C2@J-.E125*-*-^6RC&-G[T
MKQM9:V:;9U8;"8/!T(87"8>GAL-32<*-)6IPDVI/ECHE'2-DE%75[7;O\H^)
M?V5_A1-\=_AE^U-;:)XCN?BS\#_A!XS^$'P[T_3O$EW8>&AX,\3G3=2U'1KC
M0FD71)=0NI_#VE6%GK5_$\FG0X2+Y&<C\[_V"/V>?BS\3_VV/VG_ /@I9^TW
M^S4W[+/Q$^(?PW^'7[-WPF^"_B#QKX5^(?C_ $+P'\/!J5QXL^)/C#Q%X*9_
M#EOK?Q+U&[TBQTBVM9;O4[?PEX>T^"\O9(FB0_MW-9VUS&(YXA+&&#%')*L4
MX^89^92!AE;*N.&4@D4):01$NH<<#@R.RA4QL559B%5 ,(J@!1D# KI@G;WD
MN9MMVV;?]>7J;S<VERO6Z6KTY4]$N^[LFM-NY^6/[5?_  1V_8E_;!^+EQ\<
M?B-X=^)?@WXG:UI>C^'O'_B7X)_%SQU\'KCXL^'=!1;71M%^*<'@K5M,@\:V
M6FVL8LK0ZM'+<16(%HLY@"H/>3_P3^_9;M)?V0+?PSX ;P+HG["_B76O%?[.
M_A;P1JE[X=\,>&M5U[P=J7@O4AJ^DV<BP^(;:XT;5M0DEBU0SF34KF74)7DN
M7:0_; @CSN () R2S$G!W#G=D8//!R?7))+O)3.[!SQSN;L,<X(S[^M*<9-P
MY7;E>M_GM\M&NI4;)SOL[<MO**O?M[UWU,T6<!E68Q@RJT<@8DD[HV>15522
M JLS$$ '#$#KS\Q?L[_L:? S]F+P;\7O /PQT;6'\+?'+XP?%WXW_$;2_%FN
M7GBJ'6/&_P ;[V&^^( C356F2VT/46A\F#0XU%C;037$:QGSY"?JXP(<=<#C
MDMG'7@AACZ\\=.@P@MXQV/X,1_6B?M)2;4E:ZM?>VB[66RZWZ"@HJ*4M]6[;
M7<I/=ZO1]?/H?CU\*?\ @A9_P3M^#WQDT'XP^$_ASXYO(_ WB0^,/A?\'_%?
MQ6\=>*_V?_A+XL#M<VOB+X:?!W6]7N_!WA?4M)N+B[N-#EM+ C1YKRZ;3UMQ
M* O[ Q1K$BHN=J_WB2Q/4EF)RS,<EF)R22<U.L2+G //J2>E.V+Z?J:I7LKZ
MNROZD2A>3:M:^E]';S%7H/H/Y4M &!CTHIE)6279(****!A1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
/ %%%% !1110 4444 ?_9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>ex12iimg_01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 ex12iimg_01.jpg
M_]C_X  02D9)1@ ! 0   0 !  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  I -P# 2(  A$! Q$!_\0
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M/@+XR^'?P[^(WB34_).C:-H7BS63<6^E:SJ:SVSZ=I_B&WT2YF,R P)*S1@
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M_"+XL^&M=\+R_%/6)[5[WXJ?%;QOXJU/3[WQ%J.FVFGZ?:^'O#.F:=%HNFM
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M?V^@Z%I\FI:U-%9P:@K0VZ!?WMMWWQ Y4L'E1RA8KYD<KQR[=^6 $BL I)V
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ME)5WF$GZ'P?ZF/Z-_P"C'IT_W[3_ *ZC_P!!- 'R,?\ @GE^P))&$E_8>_9
MFCW!U2?]FGX-3*ISN! F\&N%(/(QC!Q@# IS?\$]/V!6Q_Q@]^Q\>026_9H^
M##$@8'RG_A# 5/ P><'G!-?85% 'QY_P[S_8&,IF/[#_ .Q\9"%!?_AF?X-;
M\*<K\W_"''D$#G'. .@&!O\ @GG^P,Q+']A_]CYB7#L6_9G^#+9=590XSX-(
M5PK, W)PS#G)S]AT4 ?'G_#O/]@5<E/V'OV/E9@ S_\ #,WP7RRJ20IV>"T)
M ).WG ))QR:CD_X)V_L RR"1_P!AS]CUF4$*6_9D^"3L,D$X>3P.[#)&<*57
M/)!/-?8]% 'R5HG[ W[#7AG7M+\4>&OV,?V3/#WB70KVTU+0_$.B?LX?![2M
M=T?4K*0R6VHZ9J]AX/MM0L+^V<[[6[L[BWFMGR\;[CQ]91QB-2H+$%Y'R[R2
?-F21I"-TKR.%4N0B!@D:!8XDCB5(U?10 4444 ?_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>ex12iimg_02.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 ex12iimg_02.jpg
M_]C_X  02D9)1@ ! 0   0 !  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  ; *H# 2(  A$! Q$!_\0
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M%M8/$7PWB^%7A[4M'\+GPSK6M:P=/\2W&LK??9O$(O[324BB,AT\%8E#_P!
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,_P %.G__ "-0!__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
