<SEC-DOCUMENT>0001140361-18-039056.txt : 20181121
<SEC-HEADER>0001140361-18-039056.hdr.sgml : 20181121

<ACCEPTANCE-DATETIME>20180925171521

<PRIVATE-TO-PUBLIC>

ACCESSION NUMBER:		0001140361-18-039056

CONFORMED SUBMISSION TYPE:	S-1/A

PUBLIC DOCUMENT COUNT:		5

FILED AS OF DATE:		20180925

DATE AS OF CHANGE:		20181023


FILER:


	COMPANY DATA:	

		COMPANY CONFORMED NAME:			AMERI Holdings, Inc.

		CENTRAL INDEX KEY:			0000890821

		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]

		IRS NUMBER:				954484725

		STATE OF INCORPORATION:			DE

		FISCAL YEAR END:			1231



	FILING VALUES:

		FORM TYPE:		S-1/A

		SEC ACT:		1933 Act

		SEC FILE NUMBER:	333-227011

		FILM NUMBER:		181086306



	BUSINESS ADDRESS:	

		STREET 1:		5000 RESEARCH COURT, SUITE 750

		CITY:			SUWANEE

		STATE:			GA

		ZIP:			30024

		BUSINESS PHONE:		770-935-4152



	MAIL ADDRESS:	

		STREET 1:		5000 RESEARCH COURT, SUITE 750

		CITY:			SUWANEE

		STATE:			GA

		ZIP:			30024



	FORMER COMPANY:	

		FORMER CONFORMED NAME:	SPATIALIZER AUDIO LABORATORIES INC

		DATE OF NAME CHANGE:	19950323



</SEC-HEADER>

<DOCUMENT>
<TYPE>S-1/A
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<TEXT>
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    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center"> As filed with the Securities and Exchange Commission on September 25, 2018 </div>

    <div> <br>
       </div>

    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: right"> Registration No. 333-227011 </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: right">&#160;</div>
    <div>
      <hr align="center" style="BORDER-TOP: black 4px solid; HEIGHT: 10px; BORDER-RIGHT: medium none; BORDER-BOTTOM: black 1px solid; COLOR: #ffffff; TEXT-ALIGN: center; MARGIN-LEFT: auto; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; MARGIN-RIGHT:
        auto"> </div>
    <div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">UNITED STATES</div>
    <div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Washington, D.C. 20549</div>
    <div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> <br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> Amendment No. 1 </div>
      <div> <br>
        </div>
      <div style="text-align: center;"> <font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">to</font> </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"> <br>
        </font></div>
    </div>
    <div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">FORM S-1</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">REGISTRATION STATEMENT</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">UNDER</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">THE SECURITIES ACT OF 1933</div>
    <div>&#160;</div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" align="center" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 70%" id="ze004c6930d5a4ad6b471a06c2d65340c">

          <tr>
            <td style="FONT-SIZE: 24pt; WIDTH: 70%; BORDER-BOTTOM: #000000 2px solid">
              <div style="FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">AMERI Holdings, Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="WIDTH: 70%">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">(Exact Name of Registrant as Specified in its Charter)</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="z2497023416cf48a9bee890d5193c2a40">

        <tr>
          <td style="WIDTH: 33%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware</div>
          </td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td style="WIDTH: 33%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">7371</div>
          </td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">95-4484725</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 33%; VERTICAL-ALIGN: bottom">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">(State or Other Jurisdiction of Incorporation or Organization)</div>
          </td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td style="WIDTH: 33%; VERTICAL-ALIGN: bottom">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">(Primary Standard Industrial Classification Code Number)</div>
          </td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top; TEXT-ALIGN: center">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">(I.R.S.&#160;Employer Identification No.)</div>
          </td>
        </tr>
        <tr>
          <td colspan="5" style="VERTICAL-ALIGN: bottom">&#160;</td>
        </tr>
        <tr>
          <td style="WIDTH: 33%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td style="WIDTH: 33%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div>
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">5000 Research Court, Suite 750</div>
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Suwanee, Georgia 30024</div>
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">(770) 935-4152</div>
            </div>
          </td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
        </tr>

    </table>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">(Address, Including Zip Code, and Telephone</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">Number, Including Area Code, of Registrant&#8217;s</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">Principal Executive Offices)</div>
    <div><br>
    </div>
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        <tr>
          <td style="WIDTH: 33%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td style="WIDTH: 34%; VERTICAL-ALIGN: bottom">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Brent Kelton</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Chief Executive Officer</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">5000 Research Court, Suite 750</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Suwanee, Georgia 30024</div>
          </td>
          <td style="WIDTH: 33.34%; VERTICAL-ALIGN: bottom">&#160;</td>
        </tr>
        <tr>
          <td style="WIDTH: 33%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td style="WIDTH: 34%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">(770) 935-4152</div>
          </td>
          <td style="WIDTH: 33.34%; VERTICAL-ALIGN: bottom">&#160;</td>
        </tr>

    </table>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Copies to:</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Adam W. Finerman, Esq.</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Olshan Frome Wolosky LLP</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">1325 Avenue of the Americas</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">New York, New York 10019</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">(212) 451-2300</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Approximate date of commencement of proposed sale to the public:</font> From time to time
      after the effective date of this Registration Statement.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the
      following box.&#160;<font style="FONT-FAMILY: 'Times New Roman'"> <font style="FONT-SIZE: 10pt">&#9746;</font></font></div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act
      registration statement number of the earlier effective registration statement for the same offering.&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#9744;</font></div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
      number of the earlier effective registration statement for the same offering.&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#9744;</font></div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">
      <hr align="center" style="BORDER-TOP: black 1px solid; HEIGHT: 10px; BORDER-RIGHT: medium none; BORDER-BOTTOM: black 4px solid; COLOR: #ffffff; TEXT-ALIGN: center; MARGIN-LEFT: auto; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; MARGIN-RIGHT:
        auto"> </div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
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    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement
      number of the earlier effective registration statement for the same offering.&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#9744;</font></div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth
      company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.&#160; (Check one):</div>
    <div><br>
    </div>
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        <tr>
          <td style="WIDTH: 10%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 24%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Large accelerated filer</div>
          </td>
          <td style="WIDTH: 15%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#9744;</div>
          </td>
          <td style="WIDTH: 31%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Accelerated filer</div>
          </td>
          <td style="WIDTH: 20%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#9744;</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 10%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 24%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 31%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 20%; VERTICAL-ALIGN: top">&#160;</td>
        </tr>
        <tr>
          <td style="WIDTH: 10%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 24%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Non-accelerated filer</div>
          </td>
          <td style="WIDTH: 15%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#9744;</div>
          </td>
          <td style="WIDTH: 31%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Smaller reporting company</div>
          </td>
          <td style="WIDTH: 20%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#9746;</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 10%; VERTICAL-ALIGN: top">&#160;</td>
          <td nowrap="nowrap" style="WIDTH: 24%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(Do not check if a smaller reporting company)</div>
          </td>
          <td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 31%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 20%; VERTICAL-ALIGN: top">&#160;</td>
        </tr>
        <tr>
          <td style="WIDTH: 10%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 24%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 31%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Emerging growth company</div>
          </td>
          <td style="WIDTH: 20%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#9746;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
      accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#9744;</font></div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">CALCULATION OF REGISTRATION FEE</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="z911954dc31574adb94e068aa63d2af12">

        <tr>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 28.46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> Title of each class of </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> securities to be registered </div>
          </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 19.68%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Amount to be </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">registered</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup> </div>
          </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 16.12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Proposed </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> maximum </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> offering price </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">per unit</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup> </div>
          </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 19.08%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Proposed </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> maximum </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> aggregate offering </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> price </div>
          </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 16.66%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Amount of </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> registration </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">fee</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup> </div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 28.46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> Common Stock, par value $0.01 per share </div>
          </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 19.68%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right"> 41,115,518 </div>
          </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 16.12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right"> $1.53 </div>
          </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 19.08%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">$</font>62,906,742.54 </div>
          </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 16.66%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right"> $7,831.89<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup> </div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 28.46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> TOTAL </div>
          </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 19.68%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 16.12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 19.08%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: right"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">$</font>62,906,742.54 </div>
          </td>
          <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 16.66%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: right"> $7,831.89<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup> </div>
          </td>
        </tr>

    </table>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">
      <hr noshade="noshade" align="left" style="BORDER-TOP: medium none; HEIGHT: 2px; BORDER-RIGHT: medium none; WIDTH: 15%; BORDER-BOTTOM: medium none; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 0px; BORDER-LEFT: medium none; BACKGROUND-COLOR:
        #000000; MARGIN-RIGHT: auto"> </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zb0603f0889ac482e9658c361be84bb0e">

          <tr>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 27pt; VERTICAL-ALIGN: top; align: right">(1)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Pursuant to Rule 416 of the Securities Act, the securities being registered hereunder include such indeterminate number of additional shares of common stock as may be issued after
                the date hereof as a result of stock splits, stock dividends or similar transactions.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z3b6380f2567a49bd94cb49f7c6667668">

          <tr>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 27pt; VERTICAL-ALIGN: top; align: right">(2)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">With respect to the shares of common stock offered by the selling stockholders named herein, estimated at $1.53 per share, which is the average of the high and low prices as
                reported on the Nasdaq Capital Market on August 20, 2018, for the purpose of calculating the registration fee in accordance with Rule 457(c) under the Securities Act.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <div style="text-align: left;">
        <div>
          <table cellspacing="0" cellpadding="0" id="z130b1a98f8f04f52b5e0a42c0379359d" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

              <tr>
                <td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> (3) </td>
                <td style="width: auto; vertical-align: top; text-align: left;">
                  <div> <font style="font-size: 10pt; font-family: 'Times New Roman';">The Registrant previously paid the registration fee in connection with this Form S-1 Registration Statement.</font> </div>
                </td>
              </tr>

          </table>
        </div>
      </div>
    </div>
    <div><br>
    </div>
    <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; font-weight: bold; text-align: justify;">The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the
      Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act, or until the Registration Statement shall become effective
      on such date as the Securities and Exchange Commission acting pursuant to said Section 8(a), may determine.</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #ff0000; TEXT-ALIGN: justify">The information contained in this prospectus is not complete and may be changed. No securities may be sold until the registration
      statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these shares, and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.</div>
    <div> <br>
       </div>

    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #ff0000; TEXT-ALIGN: center"> Subject to Completion, dated September 25, 2018 </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #ff0000; TEXT-ALIGN: left">Preliminary Prospectus</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">AMERI Holdings, Inc.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">41,115,518 Shares of Common Stock</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">This prospectus covers the sale or other disposition from time to time of up to 41,115,518 shares of our common stock, $0.01 par value per share, by
      the selling stockholders identified in this prospectus, including their transferees, pledgees, donees or successors. The shares offered for resale by this prospectus consist of:</div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z2d12e8786e744a238f6fb29f742ac273">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">up to 22,758,621 shares of common stock, of which (a) 3,250,000 shares were issued to the selling stockholders in the Private Placement (as defined
                below) and (b) up to 19,508,621 additional shares may be issued to the selling stockholders pursuant to the terms of the Private Placement (which includes 2,250,417 shares of common stock issuable upon the exercise of pre-funded warrants
                for shares that could not be issued at the closing of the Private Placement due to share issuance limitations);</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zcc3b12f044654954b7f241782685af70">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">up to 18,206,897 shares of common stock issuable upon exercise of warrants to purchase common stock that were issued to the selling stockholders in the Private Placement, of which
                (a) 4,400,000 shares are issuable upon the exercise of warrants issued in the Private Placement and (b) up to 13,806,897 additional shares may be issuable upon the exercise of such warrants pursuant to the terms of the Private Placement;
                and</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="za439565613f646f884b23f24ea5581c5">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">150,000 shares of common stock issuable upon exercise of warrants to purchase common stock that were issued to the placement agent (which is also a selling stockholder hereunder) as
                compensation for its services in connection with the Private Placement.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The selling stockholders may, from time to time, sell, transfer, or otherwise dispose of any or all of their shares of common stock or interests in
      shares of common stock on any stock exchange, market, or trading facility on which the shares are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the
      prevailing market price, at varying prices determined at the time of sale, or at negotiated prices.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We are not offering any shares of our common stock for sale under this prospectus. We will not receive any of the proceeds from the sale or other
      disposition of the shares of our common stock by the selling stockholders. We will, however, receive a maximum of $7,238,000 from the selling stockholders if all of the warrants issued in connection with the Private Placement are exercised on a cash
      basis.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our common stock is listed on the Nasdaq Capital Market under the symbol &#8220;AMRH&#8221;. On August 20, 2018, the last reported sale price of our common stock
      was $1.53 per share.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">An investment in our common stock involves significant risks. You should carefully consider the risk factors beginning on page 11 of
      this prospectus before you make your decision to invest in our shares of common stock.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or
      passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our securities are not being offered in any jurisdiction where the offer is not permitted under applicable local laws.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">The date of this prospectus is [&#9679;], 2018</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
    </div>
    <!--PROfilePageNumberReset%Num%1%%%-->
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"><a name="TABLEOFCONTENTS"><!--Anchor--></a>TABLE OF CONTENTS</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="FONT-SIZE: 10pt; BORDER-TOP: medium none; FONT-FAMILY: 'Times New Roman'; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" id="z419a67e9cba449e2b7b14b69345a9dac">

        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#PROSPECTUSSUMMARY">PROSPECTUS SUMMARY</a></div>
          </td>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2</div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#RISKFACTORS">RISK FACTORS</a></div>
          </td>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">11</div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#CAUTIONARYNOTEREGARDINGFO">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</a></div>
          </td>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">31</div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#USEOFPROCEEDS">USE OF PROCEEDS</a></div>
          </td>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">32</div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#DETERMINATIONOFOFFERINGPR">DETERMINATION OF OFFERING PRICE</a></div>
          </td>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">32</div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#MARKETPRICEOFCOMMONSTOCKA"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">MARKET PRICE OF COMMON STOCK</font><font style="FONT-SIZE: 10pt;
                  FONT-FAMILY: 'Times New Roman'">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">AND DIVIDENDS</font></a></div>
          </td>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">33</div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#PRINCIPALANDSELLINGSTOCKH">PRINCIPAL AND SELLING STOCKHOLDERS</a></div>
          </td>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">34</div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#PLANOFDISTRIBUTION">PLAN OF DISTRIBUTION</a></div>
          </td>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">38</div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#LEGALMATTERS">LEGAL MATTERS</a></div>
          </td>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">40</div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#EXPERTS">EXPERTS</a></div>
          </td>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">40</div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#WHEREYOUCANFINDMOREINFORM">WHERE YOU CAN FIND MORE INFORMATION</a></div>
          </td>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">40</div>
          </td>
        </tr>
        <tr>
          <td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 90%; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><a href="#INCORPORATIONOFINFORMATIO">INCORPORATION OF INFORMATION BY REFERENCE</a></div>
          </td>
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            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">40</div>
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    </table>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">You should rely only on the information contained in this prospectus. We have not authorized anyone to provide you with different
      information from that contained in this prospectus. We are not making an offer of these securities in any jurisdiction where the offer is not permitted. You should not assume that the information contained in this prospectus is accurate as of any
      date other than the date on the front cover of this prospectus.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Unless the context requires otherwise, the terms &#8220;Ameri&#8221;, the &#8220;Company&#8221;, &#8220;we&#8221;, &#8220;us&#8221; and &#8220;our&#8221; in this prospectus refer to Ameri Holdings, Inc. and its
      subsidiaries.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">This prospectus is part of a registration statement on Form S-1 that we filed with the SEC. From time to time, we may file one or more prospectus
      supplements to add, update or change information included in this prospectus. You should read both this prospectus and any applicable prospectus supplements, together with additional information described below under the caption &#8220;Where You Can Find
      Additional Information.&#8221; You should also carefully consider, among other things, the matters discussed in the section entitled &#8220;Risk Factors.&#8221;</div>
    <div>&#160;</div>
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        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <!--PROfilePageNumberReset%Num%2%%%-->
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"><a name="PROSPECTUSSUMMARY"><!--Anchor--></a>PROSPECTUS SUMMARY</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">This summary highlights information contained elsewhere in this prospectus. This summary does not contain all of the information
      that you should consider before deciding to invest in our common stock. You should read this entire prospectus carefully, including the &#8220;Risk Factors&#8221; section, as well as our historical financial statements and the notes thereto which are
      incorporated by reference in this prospectus.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Our Company</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We specialize in delivering SAP cloud, digital and enterprise services to clients worldwide.&#160; SAP is a leader in providing enterprise resource planning
      (&#8220;ERP&#8221;) software and technologies to enterprise customers worldwide. We deliver a wide range of solutions and services across multiple domains and industries. Our services center around SAP and include technology consulting, business intelligence,
      cloud services, application development/integration and maintenance, implementation services, infrastructure services, and independent validation services, all of which can be delivered as a set of managed services or on an on-demand service basis,
      or a combination of both.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our SAP focus allows us to provide technological solutions to a broad and growing base of clients. We are headquartered in Suwanee, Georgia, and have
      offices across the United States, which are supported by offices in India and Canada. Our model inverts the conventional global delivery model wherein offshore information technology (&#8220;IT&#8221;) service providers are based abroad and maintain a minimal
      presence in the United States. With a strong SAP focus, our client partnerships anchor around SAP cloud and digital services. In 2017, we signed a strategic partnership agreement with NEC America to offer SAP S/4 HANA (a next generation enterprise
      system) migration services. This partnership will allow us to offer our clients a broader spectrum of services. We pursue an acquisition strategy that seeks to disrupt the established business model of offshore IT service providers.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our primary business objective is to provide our clients with a competitive advantage by enhancing their business capabilities and technologies with
      our expanding consulting services portfolio, which is aided by our business acquisitions. Our strategic acquisitions allow us to bring global service delivery, SAP S/4 HANA, SAP Business Intelligence, SAP Success Factors, SAP Hybris and high-end SAP
      consulting capabilities to a broader geographic market and customer base. We continue to leverage our growing geographical footprint and technical expertise to simultaneously expand our service and product offering. With each acquisition, our goal is
      to identify business synergies that will allow us to bring new services and products from one subsidiary to customers at our other subsidiaries. While we generate revenues from the consulting businesses of each of our acquired subsidiaries, we
      believe that additional revenues will be generated through new business relationships and services developed through our business combinations.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Our Growth Strategy</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our growth strategy is based on customer-driven business expansion and strategic acquisitions of SAP services companies. We introduce specific key
      account management strategies to grow organically by cross selling and upselling different services across business units. It is our goal to be a leader in the SAP cloud, digital and enterprise services market. We use strategic acquisitions,
      alliances and partnerships to achieve this goal.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We have complementary near-term and longer-term strategies. In the short-term, we continue to focus on high-end consulting and solutions in the SAP
      ecosystem. Our medium-term focus will be to make an entry into cloud engagements and SAP HANA. Signing up with NEC America as a strategic partner for the SAP HANA migration will be critical to achieving this objective. Additionally, we plan to gain
      market share in high-growth areas within the SAP ecosystem such as Hybris, SuccessFactors and BI/BW/SAP S/4 HANA. In the long-term, we plan to identify and acquire firms in the areas of Artificial Intelligence (AI) and robotics to bolster our AIR (AI
      + Internet of things + robotics) practice. We believe that during each phase of our growth strategy business and market conditions will require our plans to evolve or change, and we plan to be agile in addressing both opportunities and exigencies.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The integration of each of our acquisitions into our business enterprise requires establishing our company&#8217;s standard operating procedures at each
      acquired entity, seamlessly transitioning each acquired entity&#8217;s branding to the &#8220;Ameri100&#8221; brand and assessing any necessity to transition account management. The integration process also requires us to evaluate any product-line expansions made
      possible by the acquired entity and how to bring new product lines to the broader customer base of the entire Company. With the integration of each acquisition, we face challenges of maintaining cross-company visibility and cooperation, creating a
      cohesive corporate culture, handling unexpected customer reactions and changes and aligning the interests of the acquired entity&#8217;s leadership with the interests of the Company. To date, these challenges have been manageable, and we are becoming more
      adept at managing integration issues with each new acquisition.</div>
    <div>&#160;</div>
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        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Background</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We were incorporated under the laws of the State of Delaware in February 1994 as Spatializer Audio Laboratories, Inc., which was a shell company
      immediately prior to our completion of a &#8220;reverse merger&#8221; transaction on May 26, 2015, in which we caused Ameri100 Acquisition, Inc., a Delaware corporation and our newly created, wholly owned subsidiary, to be merged with and into Ameri and Partners
      Inc. (&#8220;Ameri and Partners&#8221;), a Delaware corporation (the &#8220;Merger&#8221;). As a result of the Merger, Ameri and Partners became our wholly owned subsidiary with Ameri and Partners&#8217; former stockholders acquiring a majority of the outstanding shares of our
      common stock. The Merger was consummated under Delaware law, pursuant to an Agreement of Merger and Plan of Reorganization, dated as of May 26, 2015 (the &#8220;Merger Agreement&#8221;), and in connection with the Merger we changed our name to AMERI Holdings,
      Inc. and do business under the brand name &#8220;Ameri100&#8221;.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Ameri Holdings, Inc., along with its eleven subsidiaries, Ameri and Partners, Ameri Consulting Service Private Ltd., Ameri100 Georgia Inc. (&#8220;Ameri
      Georgia&#8221;), Bellsoft India Solutions Private Ltd., Ameri100 Canada Inc. (formerly BSI Global IT Solutions Inc.), Linear Logics, Corp., Ameri100 Virtuoso Inc. (&#8220;Virtuoso&#8221;), Ameri100 Arizona LLC (&#8220;Ameri Arizona&#8221;), Bigtech Software Private Limited
      (&#8220;Bigtech&#8221;), Ameri100 California Inc. (&#8220;Ameri California) and Ameritas Technologies India Private Limited, provides SAP cloud, digital and enterprise services to clients worldwide.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Organizational Chart</div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: center"><img src="forms1a-image01.jpg"></div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Additional Information</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our principal executive offices are located at 5000 Research Court, Suite 750, Suwanee, Georgia 30024, and our telephone number is (770) 935-4152.&#160; Our
      website is www.ameri100.com. The information contained on our website is not incorporated by reference into this prospectus, and you should not consider any information contained on, or that can be accessed through, our website as part of this
      prospectus or in deciding whether to purchase our common stock.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Private Placement</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Securities Purchase Agreements</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">
      <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">On July 25, 2018, we entered into a securities purchase agreement (the &#8220;Initial Securities Purchase Agreement&#8221;) with certain institutional and accredited
        investors (&#8220;Initial Purchasers&#8221;) for the sale of 5,000,000 shares of our common stock (&#8220;Initial Shares&#8221;) and warrants to purchase a total of 4,000,000 shares (&#8220;Initial Warrant Shares&#8221;) of our common stock (&#8220;Initial Purchaser Warrants&#8221;) for total
        consideration of approximately $6,000,000 (&#8220;Initial Investment&#8221;). On July 30, 2018, we issued <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">an aggregate of 3,250,000 of </font>the Initial Shares <font style="font-size:
          10pt; font-family: &quot;Times New Roman&quot;;">to the Initial Purchasers, with the remaining Initial Shares to be issued pursuant to pre-funded Warrants, subject to adjustment</font>.&#160; The $6,000,000 purchase price paid by the Initial
        Purchasers on July 30, 2018 represents the entire purchase price that will be paid by the Initial Purchasers for the Initial Shares and the Initial Purchaser Warrants (excluding the exercise price to be paid upon the exercise of Initial Purchaser
        Warrants), even if additional Shares (through the adjustment of a pre-funded warrant) are issued and additional Warrant Shares become issuable upon the occurrence of certain events described below.</div>
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    </div>
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    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On August 21, 2018, we entered into a second securities purchase agreement (the &#8220;Second Securities Purchase Agreement&#8221;, and together with the Initial
      Securities Purchase Agreement, the &#8220;Purchase Agreements&#8221;) with an accredited investor (the &#8220;Additional Purchaser&#8221;, and with the Initial Purchaser, the &#8220;Purchasers&#8221;) for the sale of approximately 500,000 shares of our common stock, via a pre-funded
      warrant due to share issuance limitations&#160;(the &#8220;Additional Shares&#8221;, and with the Initial Shares, the &#8220;Common Stock&#8221;), and warrants to purchase a total approximately 400,000 shares (the &#8220;Additional Warrant Shares&#8221;, and with the Initial Warrant Shares,
      the &#8220;Warrant Shares&#8221;) of our common stock (the &#8220;Additional Purchaser Warrants&#8221;, and with the Initial Purchaser Warrants, the &#8220;Purchaser Warrants&#8221;) for gross proceeds of approximately $600,000 (the &#8220;Additional Investment&#8221;). The Additional Investment
      was made in connection with, and substantially on the same terms and using the same forms as, the private placement of the Initial Shares and Initial Purchaser Warrants (such private placement and the Additional Investment, the &#8220;Private Placement&#8221;).&#160;
      The $600,000 purchase price paid by the Additional Purchaser on August 21, 2018 represents the entire purchase price that will be paid by the Additional Purchaser for the Additional Shares and the Additional Purchaser Warrants (excluding the exercise
      price to be paid upon the exercise of Additional Purchaser Warrants), even if additional Shares (through the adjustment of a pre-funded warrant, all pre-funded warrants with the Purchaser Warrants, the &#8220;Warrants&#8221;) are issued and additional Warrant
      Shares become issuable upon the occurrence of certain events described below.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The initial price per share equaled $1.20 and the initial per share exercise price of the Purchaser Warrants equaled $1.60.&#160; The per share purchase
      price and the exercise price are subject to adjustment as described below.&#160; The Initial Purchaser Warrants are immediately exercisable, subject to ownership limitations described below, and expire five years after the date of issuance.&#160; The Initial
      Purchaser Warrants are exercisable on a cashless basis six months after the issuance date if there is no effective registration statement registering the resale of the shares underlying the Initial Purchaser Warrants. The Additional Purchaser was not
      issued any Shares at the closing of the Additional Investment, due to Nasdaq stock issuance limitations, but the Additional Shares will be issued upon the exercise of a pre-funded warrant for no additional consideration to the Company, subject to
      stockholder approval. The Additional Purchaser Warrants and the Additional Purchaser&#8217;s pre-funded warrant are exercisable following the later of stockholder approval of the Private Placement or the effectiveness of a resale registration statement,
      subject to ownership limitations described below, and expire five years after the date of issuance. The Warrants contain provisions for the adjustment of the number of shares issuable upon the exercise of the warrant and of the exercise price in the
      event of stock dividends, splits, mergers, asset sales, tender or exchange offers, reclassifications, reorganizations or recapitalizations, combinations, or the like.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The per share purchase price (through the pre-funded Warrants) and Warrant exercise price will automatically be adjusted lower (the &#8220;Price
      Adjustment&#8221;), if applicable, to 80% (with respect to the purchase price of the shares) and 110% (with respect to the exercise price of the Warrants) of the lowest of the average daily prices on the 6 trading days after the date that (i) a
      registration statement covering the resale of the securities being issued in the transaction is declared effective by the Securities and Exchange Commission (the &#8220;SEC&#8221;) and (ii) our stockholders approve the Private Placement transaction. If all the
      shares issuable pursuant to the Purchase Agreements are not included in the registration statement, another similar adjustment to the per share purchase price and Warrant exercise price will occur on the date that such shares may be sold pursuant to
      Rule 144 under the Securities Act. Following any adjustment to the Warrant exercise price, the number of shares that may be issued pursuant to a Warrant will be proportionately increased. In no event will the purchase price or the Warrant exercise
      price be less than $0.29 per share. In addition, the Warrants have transaction-specific anti-dilution provisions.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Under the terms of the Warrants, a selling stockholder may not exercise the Warrants to the extent such exercise would cause such selling stockholder,
      together with its affiliates and attribution parties, to beneficially own a number of shares of common stock which would exceed 4.99% or 9.99%, as applicable, of our then outstanding common stock following such exercise, excluding for purposes of
      such determination shares of common stock issuable upon exercise of the Warrants which have not been exercised.</div>
    <div>&#160;</div>
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      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">A special meeting of stockholders is scheduled to be held on September 27, 2018 for stockholder approval of the Private Placement. In the event our
      stockholders do not approve the Private Placement at such meeting, we are required to seek stockholder approval again by November 15, 2018 and then every four months until the transaction is approved or until the Warrants have terminated.</div>
    <div>&#160;</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Placement Agent</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">A.G.P. / Alliance Global Partners (&#8220;AGP&#8221;) acted as exclusive placement agent for the issuance and sale of the securities in the Private Placement. We
      agreed to pay AGP an aggregate fee equal to 7% of the gross proceeds received by us from the sale of the securities in the transaction, plus expenses. We also agreed to grant to AGP or its designees warrants to purchase up to 150,000 shares of our
      common stock (the &#8220;Placement Agent Warrants&#8221;). The Placement Agent Warrants are exercisable on or after the later of (a) the effective date of the Resale Registration Statement (defined below) and (b) the date that stockholder approval is obtained
      and deemed effective. The Placement Agent Warrants terminate on July 27, 2022. The Placement Agent Warrants have an exercise price of $1.32 per share. The terms of the Placement Agent Warrants are otherwise substantially similar to the terms of the
      Private Placement Warrants, except the Placement Agent Warrants have customary anti-dilution provisions and do not have the Price Adjustment mechanism.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">
      <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"> The maximum number of shares of common stock issuable under the Purchase Agreements is 22,758,621, and the maximum number of shares of common
          stock issuable under the Warrants and the Placement Agent Warrants is 18,356,897; accordingly, the aggregate maximum number of shares of our common stock issuable in connection with the Private Placement is 41,115,518.&#160; The maximum number of
          shares issuable is calculated using the minimum price per share of $0.29 with respect to (i) the total number of shares that will become issuable under the Purchase Agreements taking into consideration the pre-funded Warrants that will give
          effect to the Price Adjustment, and (ii) the total number of Warrant Shares that will become issuable upon exercise of the Purchaser Warrants and and the Placement Agent Warrants. </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"> <br>
      </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"> We received aggregate gross proceeds of approximately $6,600,000 for the purchase of the Common Stock and the Warrants. The Company will not receive
        any additional consideration in the event the number of Common Stock shares and shares of common stock underlying the Warrants are adjusted. We will, however, receive a maximum of an additional $7,238,000 from the selling stockholders if all of the
        warrants issued in connection with the Private Placement are exercised on a cash basis. </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Registration Rights Agreement</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In connection with the Private Placement, we entered into a registration rights agreement (the &#8220;Registration Rights Agreement&#8221;) with the Purchasers,
      effective as of the closing of the Private Placement. Pursuant to the Registration Rights Agreement, we agreed to prepare and file the registration statement of which this prospectus forms a part (the &#8220;Resale Registration Statement&#8221;) with the SEC by
      August 24, 2018 for purposes of registering the resale of the shares of Common Stock and the shares of common stock issuable upon exercise of the Warrants. We also agreed to use our reasonable best efforts to cause this registration statement to be
      declared effective by the SEC by September 23, 2018 (October 23, 2018 in the event the registration statement is reviewed by the SEC). If we fail to meet the specified filing deadlines or keep the Resale Registration Statement effective, subject to
      certain permitted exceptions, we will be required to pay liquidated damages to the Purchasers. We also agreed, among other things, to indemnify the selling holders under the Resale Registration Statement from certain liabilities and to pay all fees
      and expenses incident to our performance of or compliance with the Registration Rights Agreement.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Voting Agreement</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">For the benefit of the Purchasers, certain officers, directors and stockholders of the Company, owning approximately 40% of the outstanding number of
      shares of our common stock, entered into voting agreements, pursuant to which such stockholders will agree to vote all shares of our common stock owned by them in favor of the Private Placement.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Risks Relating to Our Business</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our business and our ability to implement our business strategy are subject to numerous risks, as more fully described in the section entitled &#8220;Risk
      Factors&#8221; immediately following this prospectus summary. You should read these risks before you invest in our common stock. We may be unable, for many reasons, including those that are beyond our control, to implement our business strategy. In
      particular, risks associated with our business include the following:</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">5</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">We have incurred significant losses since our Reverse
        Merger, including an accumulated deficit of approximately $18.5 million as of June 30, 2018, and we may incur significant losses in the future. We will require substantial additional financing to achieve our goals.</font></div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">We face significant competition and rapid technological
        change and the possibility that our competitors may adopt technologies or develop services that are more effective than ours, which may adversely affect our financial condition.</font></div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">We are highly dependent on our key personnel, and if we
        are not successful in attracting and retaining highly qualified personnel, we may not be able to successfully implement our business strategy.</font></div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">The concentration of our common stock ownership by certain
        of our stockholders may limit your ability to influence our corporate matters.</font></div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Implications of Being an &#8220;Emerging Growth Company&#8221;</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; TEXT-INDENT: 36pt">As a public reporting company with less than $1.07 billion in revenue during our last fiscal year, we qualify as an &#8220;emerging growth company&#8221; under the
        Jumpstart Our Business Startups Act of 2012, or the JOBS Act. An emerging growth company may take advantage of specified reduced reporting requirements that are otherwise generally applicable to public companies. In particular, as an emerging
        growth company, we:</div>
    </div>
    <div>&#160;</div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z9540ada65e0d433ebabcf65f65a69181">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#9679;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">are not required to obtain an attestation and report from our auditors on our management&#8217;s assessment of our internal control over financial
                reporting pursuant to the Sarbanes-Oxley Act of 2002 (the &#8220;Sarbanes-Oxley Act&#8221;);</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left; MARGIN-LEFT: 31.5pt; TEXT-INDENT: -31.5pt"><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zd7cfccd5744e4e25a5e9ef1e56321857">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#9679;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">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 &#8220;compensation discussion and analysis&#8221;);</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left; MARGIN-LEFT: 31.5pt; TEXT-INDENT: -31.5pt"><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="za7efafc76ec7456ea2b0c7cbbf3c25dc">

          <tr style="VERTICAL-ALIGN: top">
            <td style="WIDTH: 36pt"></td>
            <td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; MARGIN-LEFT: 31.5pt; TEXT-INDENT: -31.5pt">&#9679;</div>
            </td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">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 &#8220;say-on-pay,&#8221; &#8220;say-on-frequency&#8221; and &#8220;say-on-golden-parachute&#8221; votes);</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="ze090114650c24183b334d054365ae7d1">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#9679;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">are exempt from certain executive compensation disclosure provisions requiring a pay-for-performance graph and CEO pay ratio disclosure;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left; MARGIN-LEFT: 31.5pt; TEXT-INDENT: -31.5pt"><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z85f9d571fcce412ab04138f1aadc3b27">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#9679;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">may present only two years of audited financial statements and only two years of related Management&#8217;s Discussion and Analysis of Financial Condition
                and Results of Operations, or MD&amp;A; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z69b9df742a984f07965712bcdf54c3df">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#9679;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">are eligible to claim longer phase-in periods for the adoption of new or revised financial accounting standards under &#167;107 of the JOBS Act.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">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 &#167;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 &#167;107 of the JOBS Act. Please see &#8220;Risk Factors,&#8221; page 27 (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">We are an &#8216;emerging growth company&#8217;. . . .&#8221;</font>).</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">6</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Certain of these reduced reporting requirements and exemptions were already available to us due to the fact that we also qualify as a &#8220;smaller
      reporting company&#8221; under the SEC&#8217;s rules. For instance, smaller reporting companies are not required to obtain an auditor attestation and report regarding management&#8217;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.</div>
    <div style="TEXT-ALIGN: justify"> <br>
       </div>

    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"> 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. In this regard, the JOBS Act provides that we
        would cease to be an &#8220;emerging growth company&#8221; if we have more than $1.07 billion in annual revenue, 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. Under current SEC rules, however, we will continue to qualify as a &#8220;smaller reporting company&#8221; for so long as we have a public float (i.e., the market value of common equity held by non-affiliates) of
        less than $250 million as of the last business day of our most recently completed second fiscal quarter. </div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">7</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">The Offering</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">This prospectus relates to the resale from time to time by the selling stockholders identified herein of up to 37,391,379 shares of our common stock.
      All of the common stock to be registered for resale hereunder was purchased by the selling stockholders in the Private Placement or will potentially be issued to the selling stockholders upon exercise of warrants purchased by the selling stockholders
      in the Private Placement and/or as a result of adjustments pursuant to the terms of the Private Placement. We are not offering any shares for sale under the registration statement of which this prospectus is a part.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="zea23236b6a934778974361ebf7fbae88">

        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Common stock outstanding immediately prior to the Private Placement:</div>
          </td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">19,063,447 shares</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">&#160;</td>
        </tr>
        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Common stock being offered by the selling stockholders hereunder:</div>
          </td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Up to 41,115,518 shares, consisting of:</div>
            <div>&#160;</div>
            <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">up to 22,758,621 shares of common
                stock, of which (a) 3,250,000 shares were issued to the selling stockholders in the Private Placement (as defined below) and (b) up to 19,508,621 additional shares may be issued to the selling stockholders pursuant to the terms of the
                Private Placement (which includes 2,250,417 shares of common stock issuable upon the exercise of pre-funded warrants for shares that could not be issued at the closing of the Private Placement due to share issuance limitations) (the
                &#8220;Additional Shares&#8221;);</font></div>
            <div>&#160;</div>
            <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">up to 18,206,897 shares of common
                stock issuable upon exercise of warrants to purchase common stock that were issued to the selling stockholders in the Private Placement, of which (a) 4,400,000 shares are issuable upon the exercise of warrants issued in the Private
                Placement and (b) up to 13,806,897 additional shares may be issuable upon the exercise of such warrants pursuant to the terms of the Private Placement (the &#8220;Additional Warrant Shares&#8221;); and</font></div>
            <div>&#160;</div>
            <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">150,000 shares of common stock
                issuable upon exercise of warrants to purchase common stock that were issued to the placement agent (which is also a selling stockholder hereunder) as compensation for its services in connection with the Private Placement.</font></div>
            <div>&#160;</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Pursuant to the terms of the Private Placement, the per share purchase price (through the pre-funded warrants) and Warrant exercise price will
              automatically be adjusted lower, if applicable, to 80% (with respect to the purchase price of the shares) and 110% (with respect to the exercise price of the Warrants) of the lowest of the average daily prices on the 6 trading days after the
              date that (i) a registration statement covering the resale of the securities being issued in the transaction is declared effective by the SEC and (ii) our stockholders approve the Private Placement transaction. If all the shares issuable
              pursuant to the Purchase Agreements are not included in the registration statement, another similar adjustment to the per share purchase price and Warrant exercise price will occur on the date that such shares may be sold pursuant to Rule 144
              under the Securities Act. Following any adjustment to the Warrant exercise price, the number of shares that may be issued pursuant to a Warrant will be proportionately increased. In no event will the purchase price or the Warrant exercise
              price be less than $0.29 per share.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">8</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="z636ca514acd747dba6c1218573d9dac1">

        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Placement Agent Warrants are exercisable on or after the later of (a) the effective date of the Resale Registration Statement and (b) the
              date that stockholder approval is obtained and deemed effective. The Placement Agent Warrants terminate on July 27, 2022. The Placement Agent Warrants have an exercise price of $1.32 per share. The terms of the Placement Agent Warrants are
              otherwise substantially similar to the terms of the Private Placement Warrants, except the Placement Agent Warrants have customary anti-dilution provisions and do not have the Price Adjustment mechanism.</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">&#160;</td>
        </tr>
        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Common stock to be outstanding immediately after this offering:</div>
            <div>&#160;</div>
            <div>&#160;</div>
          </td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">29,113,447 shares (assumes all Warrants are exercised on a cash basis and no Additional Shares or Additional Warrant Shares are issued).</div>
            <div>&#160;</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">60,178,965 shares (assumes all Warrants are exercised on a cash basis and all Additional Shares and Additional Warrant Shares are issued).</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">&#160;</td>
        </tr>
        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Use of proceeds:</div>
            <div>&#160;</div>
            <div>&#160;</div>
          </td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">We will not receive any proceeds from the sale of our common stock offered by the selling stockholders under this prospectus. We will, however, receive a maximum
              of $7,238,000 from the selling stockholders if all of the warrants issued in connection with the Private Placement are exercised on a cash basis.</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">&#160;</td>
        </tr>
        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Risk Factors:</div>
          </td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">See &#8220;Risk Factors&#8221; and other information appearing elsewhere in this prospectus for a discussion of factors you should carefully consider before deciding whether
              to invest in our common stock.</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">&#160;</td>
        </tr>
        <tr>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">NASDAQ symbol:</div>
          </td>
          <td style="WIDTH: 2.82%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 47.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">AMRH</div>
          </td>
        </tr>

    </table>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The number of shares of our common stock outstanding immediately before the Private Placement and immediately after this offering excludes:</div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z3710e354af494be4833838148b487c4f">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2,194,652 shares of common stock reserved for issuance under our 2015 Equity Incentive Plan;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">9</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z934c6fa4e0b048f2b3b84d6bb9545432">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">7,471,940 shares of common stock underlying other outstanding warrants and warrants we plan to issue, in each case to purchase shares of our common stock, but which were not issued
                in connection with the Private Placement;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z503eaa8d72b143029e0e6924506de6e2">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">741,567 shares of common stock underlying options to purchase shares of our common stock;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z1af4581a24724942992c86753c468c95">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">446,716 shares of common stock underlying outstanding convertible promissory notes; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z7a0ea5b459714b1186c2dbed69bab104">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">$605,000 worth of common stock to be issued in January 2019 in respect of the 2018 earn-out for our Ameri California acquisition; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Except for the financial statements and the notes thereto, and historical financial information and unless otherwise indicated, all information in this
      prospectus reflects or assumes no exercise of outstanding options or warrants after August 20, 2018.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">For additional information concerning the offering, see &#8220;Plan of Distribution&#8221; beginning on page 38.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Risk Factors</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Before investing in our securities, you should carefully read and consider the information set forth in &#8220;Risk Factors&#8221; beginning on page 11.</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">10</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"><a name="RISKFACTORS"><!--Anchor--></a>RISK FACTORS</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Investing in our securities involves a high degree of risk. You should consider carefully the risks and uncertainties described
      below, together with all of the other information in this prospectus, including our consolidated financial statements and related notes, before deciding whether to purchase any of our securities. Any of these risks may have a material adverse effect
      on our business, financial condition, results of operations and cash flows and our prospects could be harmed. In that event, the price of our securities could decline and you could lose part or all of your investment.</div>
    <div><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Risks Relating to Our Business and Industry</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">We recorded a net loss for the six months ended June 30, 2018 and the twelve months ended December 31, 2017 and there can be no
        assurance that our future operations will result in net income.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">For the twelve months ended December 31, 2017, we had net revenue of $48,593,712 and comprehensive loss of $11,119,663. For
      the six months ended June 30, 2018 and the six months ended June 30, 2017, we generated revenues of $22,138,850 and $24,609,186, respectively, and incurred comprehensive net losses of $3,496,046 and $5,003,010, respectively. At June 30, 2018, we had
      stockholders&#8217; equity of $18,303,262.&#160; There can be no assurance that our future operations will result in net income. Our failure to increase our revenues or improve our gross margins will harm our business. We may not be able to sustain or increase
      profitability on a quarterly or annual basis in the future. If our revenues grow more slowly than we anticipate, our gross margins fail to improve or our operating expenses exceed our expectations, our operating results will suffer. The fee we charge
      for our solutions and services may decrease, which would reduce our revenues and harm our business. If we are unable to sell our solutions at acceptable prices relative to our costs, or if we fail to develop and introduce new solutions on a timely
      basis and services from which we can derive additional revenues, our financial results will suffer.</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">We and our subsidiaries have limited operating histories and therefore we cannot ensure the long-term successful operation of our
        business or the execution of our business plan.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our prospects must be considered in light of the risks, expenses and difficulties frequently encountered by growing companies in new and rapidly
        evolving markets, such as the technology consulting markets in which we operate. We must meet many challenges including:</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zeb1156ee59b441e2a4df6e7746db2d89">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">establishing and maintaining broad market acceptance of our solutions and services and converting that acceptance into direct and indirect sources of revenue;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z90d2e9de01444b969ea046c037dcec92">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">establishing and maintaining adoption of our technology solutions in a wide variety of industries and on multiple enterprise architectures;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z793b83ecdfb145498f0f1ccaae9ca69a">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">timely and successfully developing new solutions and services and increasing the functionality and features of existing solutions and services;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zca581af466bb443b9443778aaa0b95e2">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">developing solutions and services that result in high degree of enterprise client satisfaction and high levels of end-customer usage;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zdbd41aa7d0f6476f8575295c28669074">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">successfully responding to competition, including competition from emerging technologies and solutions;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zd149f1a94d2a481ea724099d18da0a68">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">developing and maintaining strategic relationships to enhance the distribution, features, content and utility of our solutions and services; and</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z4ff6dec75fb6465293026e701d98b371">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">identifying, attracting and retaining talented personnel at reasonable market compensation rates in the markets in which we employ.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our business strategy may be unsuccessful and we may be unable to address the risks we face in a cost-effective manner, if at all. If we are unable
        to successfully address these risks our business will be harmed.</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">11</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
          <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">We face working capital constraints and may not have sufficient working capital in the long term and there is no assurance that
        we will be able to obtain additional financing, which could negatively impact our business.</div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">We have incurred significant and recurring operational losses as a result of our
          ongoing acquisition strategy. As of August 20, 2018, we had outstanding cash payment obligations related to our past acquisitions of approximately $</font>2.6<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> million.&#160; If our current
          cash position does not improve significantly, we will not have sufficient cash on hand to meet these obligations.&#160; Due to our working capital constraints, we are not current in all payments to all our unsecured noteholders. We are working with
          certain of our unsecured noteholders to negotiate payment terms until we are able to raise more capital.</font></div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Operational streamlining that was completed in the second quarter of 2018 is anticipated to provide cash savings of approximately $2.5 million per
        year. We believe additional cost-cutting efforts will further reduce cash used in operations.&#160; In addition, we believe that we can obtain additional external financing to meet future cash requirements. We raised $1.25 million in March 2017 through
        the sale of convertible notes, over $6.7 million in gross proceeds through our public offering of common stock and warrants in November 2017 and $6 million in gross proceeds through our Private Placement in July 2018.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">There can be no assurance that we will be able to secure additional sources of capital or that cost savings will provide sufficient working capital.&#160;
        If we continue to be unable to pay all outstanding payments under our unsecured notes, the unpaid noteholders may take legal action against us, they may accelerate the payment of the principal under the applicable notes, and our senior secured
        lender may call a cross-default under our existing credit facility, which could result in the acceleration of the obligations thereunder and have a negative impact on our revenue and financial results.&#160; Should we be unable to raise sufficient debt
        or equity capital, we could be forced to cease operations. Our plan regarding these matters is to work to raise additional debt and/or equity financing to allow us the ability to cover our current cash flow requirements and meet our obligations as
        they become due. There can be no assurances that financing will be available or if available, that such financing will be available under favorable terms.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">The economic environment, pricing pressures, and decreased employee utilization rates could negatively impact our revenues and
        operating results.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Spending on technology products and services is subject to fluctuations depending on many factors, including the economic environment in the markets
        in which our clients operate.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Reduced ERP spending in response to a challenging economic environment leads to increased pricing pressure from our clients, which may adversely
        impact our revenue, gross profits, operating margins and results of operations.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition to the business challenges and margin pressure resulting from economic slowdown in the markets in which our clients operate and the
        response of our clients to such slowdown, there is also a growing trend among consumers of ERP services towards consolidation of technology service providers in order to improve efficiency and reduce costs. Our success in the competitive bidding
        process for new projects or in retaining existing projects is dependent on our ability to fulfil client expectations relating to staffing, delivery of services and more stringent service levels. If we fail to meet a client&#8217;s expectations in such
        projects, this would likely adversely impact our business, revenues and operating margins. In addition, even if we are successful in winning the mandates for such projects, we may experience significant pressure on our operating margins as a result
        of the competitive bidding process.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Moreover, our ability to maintain or increase pricing is restricted as clients often expect that as we do more business with them, they will receive
        volume discounts or lower rates. In addition, existing and new customers are also increasingly using third-party consultants with broad market knowledge to assist them in negotiating contractual terms. Any inability to maintain or increase pricing
        on account of this practice may also adversely impact our revenues, gross profits, operating margins and results of operations.</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">12</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
          <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Uncertain global SAP consulting market conditions may continue to adversely affect demand for our services.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">We rely heavily on global demand for ERP services, especially SAP consulting by customers. Any weakness for these ERP
      services by global customers will adversely affect our revenue projections and hence our profits. SAP AG is adapting itself to the changes in the market especially towards cloud offerings. These changes may lead to SAP losing its market share to
      other competitors like Oracle, Microsoft, Salesforce and Workday among many other newer players. With these setbacks to SAP, we may face uncertain future due to dramatic changes in the market place which in turn will affect our revenues and profits.</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our success depends largely upon our highly-skilled technology professionals and our ability to hire, attract, motivate, retain
        and train these personnel.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our ability to execute projects, maintain our client relationships and acquire new clients depends largely on our ability to attract, hire, train,
        motivate and retain highly skilled technology professionals, particularly project managers and other mid-level professionals. If we cannot hire, motivate and retain personnel, our ability to bid for projects, obtain new projects and expand our
        business will be impaired and our revenues could decline.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Increasing worldwide competition for skilled technology professionals and increased hiring by technology companies may affect our ability to hire and
        retain an adequate number of skilled and experienced technology professionals, which may in turn have an adverse effect on our business, results of operations and financial condition.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, the demands of changes in technology, evolving standards and changing client preferences may require us to redeploy and retrain our
        technology professionals. If we are unable to redeploy and retrain our technology professionals to keep pace with continuing changes in technology, evolving standards and changing client preferences, this may adversely affect our ability to bid for
        and obtain new projects and may have a material adverse effect on our business, results of operations and financial condition.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our strategy to increase our growth through acquisitions may be unsuccessful and could adversely affect our business and results.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As part of our growth strategy, we intend to further acquire other businesses; however, there is no assurance that we will be able to identify
        appropriate acquisition targets, successfully acquire identified targets or successfully integrate the business of acquired companies to realize the full benefits of the combined businesses.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">While we recently acquired Ameri California, Ameri Arizona, Virtuoso and Bigtech in connection with our growth strategy to acquire other businesses,
        we can provide no assurance that we will identify appropriate acquisition targets, successfully complete any future acquisitions or successfully integrate the business of companies we do acquire. Even if we successfully acquire a business entity,
        there is no assurance that our combined business will become profitable. The process of completing the integration of acquired businesses could cause an interruption of, or loss of momentum in, the activities of our company and the loss of key
        personnel. The diversion of management&#8217;s attention and any delays or difficulties encountered in connection with the pursuit of business acquisitions and the integration of acquired businesses, and the incurrence of significant, acquisition related
        costs in connection with proposed and completed acquisitions, could have an adverse effect on our business, financial condition or results of operations.</div>
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          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
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    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">We face intense competition from other service providers.</div>
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    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">We are subject to intense competition in the industry in which we operate which may adversely affect our results of
      operations, financial condition and cash flows. We operate in a highly competitive industry, which is served by numerous global, national, regional and local firms. Our industry has experienced rapid technological developments, changes in industry
      standards and customer requirements. The principal competitive factors in the IT markets include the range of services offered, size and scale of service provider, global reach, technical expertise, responsiveness to client needs, speed in delivery
      of IT solutions, quality of service and perceived value. Many companies also choose to perform some or all of their back-office IT and IT-enabled operations internally. Such competitiveness requires us to keep pace with technological developments and
      maintains leadership; enhance our service offerings, including the breadth of our services and portfolio, and address increasingly sophisticated customer requirements in a timely and cost-effective manner.</div>
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      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We market our service offerings to large and medium-sized organizations. Generally, the pricing for the projects depends on the type of contract,
        which includes time and material contracts, annual maintenance contracts (fixed time frame), fixed price contracts and transaction price based contracts. The intense competition and the changes in the general economic and business conditions can
        put pressure on us to change our prices. If our competitors offer deep discounts on certain services or provide services that the marketplace considers more valuable, we may need to lower prices or offer other favorable terms in order to compete
        successfully. Any broad-based change to our prices and pricing policies could cause revenues to decline and may reduce margins and could adversely affect results of operations, financial condition and cash flows. Some of our competitors may bundle
        software products and services for promotional purposes or as a long-term pricing strategy or provide guarantees of prices and product implementations. These practices could, over time, significantly constrain the prices that we can charge for
        certain services. If we do not adapt our pricing models to reflect changes in customer use of our services or changes in customer demand, our revenues and cash flows could decrease.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our competitors may have significantly greater financial, technical and marketing resources and greater name recognition and, therefore, may be
        better able to compete for new work and skilled professionals. Similarly, if our competitors are successful in identifying and implementing newer service enhancements in response to rapid changes in technology and customer preferences, they may be
        more successful at selling their services. If we are unable to respond to such changes our results of operations may be harmed. Further, a client may choose to use its own internal resources rather than engage an outside firm to perform the types
        of services we provide. We cannot be certain that we will be able to sustain our current levels of profitability or growth in the face of competitive pressures, including competition for skilled technology professionals and pricing pressure from
        competitors employing an on-site/offshore business model.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, we may face competition from companies that increase in size or scope as the result of strategic alliances such as mergers or
        acquisitions. These transactions may include consolidation activity among hardware manufacturers, software companies and vendors and service providers. The result of any such vertical integration may be greater integration of products and services
        that were once offered separately by independent vendors. Our access to such products and services may be reduced as a result of such an industry trend, which could adversely affect our competitive position. These types of events could have a
        variety of negative effects on our competitive position and our financial results, such as reducing our revenue, increasing our costs, lowering our gross margin percentage and requiring us to recognize impairments on our assets.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our business could be adversely affected if we do not anticipate and respond to technology advances in our industry and our
        clients&#8217; industries.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The IT and global outsourcing and SAP consulting services industries are characterized by rapid technological change, evolving industry standards,
        changing client preferences and new product introductions. Our success will depend in part on our ability to develop IT solutions that keep pace with industry developments. We may not be successful in addressing these developments on a timely basis
        or at all. In addition, products or technologies developed by others may not render our services noncompetitive or obsolete. Our failure to address these developments could have a material adverse effect on our business, results of operations,
        financial condition and cash flows.</div>
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      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">A significant number of organizations are attempting to migrate business applications to advanced technologies. As a result, our ability to remain
        competitive will be dependent on several factors, including our ability to develop, train and hire employees with skills in advanced technologies, breadth and depth of process and technology expertise, service quality, knowledge of industry,
        marketing and sales capabilities. Our failure to hire, train and retain employees with such skills could have a material adverse impact on our business. Our ability to remain competitive will also be dependent on our ability to design and
        implement, in a timely and cost- effective manner, effective transition strategies for clients moving to advanced architectures. Our failure to design and implement such transition strategies in a timely and cost-effective manner could have a
        material adverse effect on our business, results of operations, financial condition and cash flows.</div>
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      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our operations and assets in India expose us to regulatory, economic, political and other uncertainties in India, which could
        harm our business.</div>
      <div style="TEXT-ALIGN: justify"><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We have an offshore presence in India where a number of our technical professionals are located. In the past, the Indian economy has experienced many
        of the problems confronting the economies of developing countries, including high inflation and varying gross domestic product growth. Salaries and other related benefits constitute a major portion of our total operating costs. Many of our
        employees based in India where our wage costs have historically been significantly lower than wage costs in the United States and Europe for comparably skilled professionals, and this has been one of our competitive advantages. However, wage
        increases in India or other countries where we have our operations may prevent us from sustaining this competitive advantage if wages increase. We may need to increase the levels of our employee compensation more rapidly than in the past to retain
        talent. If such events occur, we may be unable to continue to increase the efficiency and productivity of our employees and wage increases in the long term may reduce our profit margins.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our clients may seek to reduce their dependence on India for outsourced IT services or take advantage of the services provided in
        countries with labor costs similar to or lower than India.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Clients which presently outsource a significant proportion of their IT services requirements to vendors in India may, for various reasons, including
        in response to rising labor costs in India and to diversify geographic risk, seek to reduce their dependence on one country. We expect that future competition will increasingly include firms with operations in other countries, especially those
        countries with labor costs similar to or lower than India, such as China, the Philippines and countries in Eastern Europe. Since wage costs in our industry in India are increasing, our ability to compete effectively will become increasingly
        dependent on our reputation, the quality of our services and our expertise in specific industries. If labor costs in India rise at a rate that is significantly greater than labor costs in other countries, our reliance on the labor in India may
        reduce our profit margins and adversely affect our ability to compete, which would, in turn, have a negative impact on our results of operations.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our business could be materially adversely affected if we do not or are unable to protect our intellectual property or if our
        services are found to infringe upon or misappropriate the intellectual property of others.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our success depends in part upon certain methodologies and tools we use in designing, developing and implementing applications systems in providing
        our services. We rely upon a combination of nondisclosure and other contractual arrangements and intellectual property laws to protect confidential information and intellectual property rights of ours and our third parties from whom we license
        intellectual property. We enter into confidentiality agreements with our employees and limit distribution of proprietary information. The steps we take in this regard may not be adequate to deter misappropriation of proprietary information and we
        may not be able to detect unauthorized use of, protect or enforce our intellectual property rights. At the same time, our competitors may independently develop similar technology or duplicate our products or services. Any significant
        misappropriation, infringement or devaluation of such rights could have a material adverse effect upon our business, results of operations, financial condition and cash flows.</div>
      <div>&#160;</div>
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      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Litigation may be required to enforce our intellectual property rights or to determine the validity and scope of the proprietary rights of others.
        Any such litigation could be time consuming and costly. Although we believe that our services do not infringe or misappropriate on the intellectual property rights of others and that we have all rights necessary to utilize the intellectual property
        employed in our business, defense against these claims, even if not meritorious, could be expensive and divert our attention and resources from operating our company. A successful claim of intellectual property infringement against us could require
        us to pay a substantial damage award, develop non-infringing technology, obtain a license or cease selling the products or services that contain the infringing technology. Such events could have a material adverse effect on our business, financial
        condition, results of operations and cash flows.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Any disruption in the supply of power, IT infrastructure and telecommunications lines to our facilities could disrupt our
        business process or subject us to additional costs.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Any disruption in basic infrastructure, including the supply of power, could negatively impact our ability to provide timely or adequate services to
        our clients. We rely on a number of telecommunications service and other infrastructure providers to maintain communications between our various facilities and clients in India, the United States and elsewhere. Telecommunications networks are
        subject to failures and periods of service disruption, which can adversely affect our ability to maintain active voice and data communications among our facilities and with our clients. Such disruptions may cause harm to our clients&#8217; business. We
        do not maintain business interruption insurance and may not be covered for any claims or damages if the supply of power, IT infrastructure or telecommunications lines is disrupted. This could disrupt our business process or subject us to additional
        costs, materially adversely affecting our business, results of operations, financial condition and cash flows.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">System security risks and cyber-attacks could disrupt our information technology services provided to customers, and any such
        disruption could reduce our expected revenue, increase our expenses, damage our reputation and adversely affect our stock price and the value of our warrants.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">Security and availability of IT infrastructure is of the utmost concern for our business, and the security of critical
      information and infrastructure necessary for rendering services is also one of the top priorities of our customers.</div>
    <div style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">System security risks and cyber-attacks could breach the security and disrupt the availability of our IT services provided to customers. Any such
        breach or disruption could allow the misuse of our information systems, resulting in litigation and potential liability for us, the loss of existing or potential clients, damage to our reputation and diminished brand value and could have a material
        adverse effect on our financial condition.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our network and our deployed security controls could also be penetrated by a skilled computer hacker or intruder. Further, a hacker or intruder could
        compromise the confidentiality and integrity of our protected information, including personally identifiable information; deploy malicious software or code like computer viruses, worms or Trojan horses, etc. may exploit any security
        vulnerabilities, known or unknown, of our information system; cause disruption in the availability of our information and services; and attack our information system through various other mediums.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We also procure software or hardware products from third party vendors that provide, manage and monitor our services. Such products may contain known
        or unfamiliar manufacturing, design or other defects which may allow a security breach or cyber-attack, if exploited by a computer hacker or intruder, or may be capable of disrupting performance of our IT services and prevent us from providing
        services to our clients.</div>
      <div>&#160;</div>
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      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, we manage, store, process, transmit and have access to significant amounts of data and information that may include our proprietary and
        confidential information and that of our clients. This data may include personal information, sensitive personal information, personally identifiable information or other critical data and information, of our employees, contractors, officials,
        directors, end customers of our clients or others, by which any individual may be identified or likely to be identified. Our data security and privacy systems and procedures meet applicable regulatory standards and undergo periodic compliance
        audits by independent third parties and customers. However, if our compliance with these standards is inadequate, we may be subject to regulatory penalties and litigation, resulting in potential liability for us and an adverse impact on our
        business.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We are still susceptible to data security or privacy breaches, including accidental or deliberate loss and unauthorized disclosure or dissemination
        of such data or information. Any breach of such data or information may lead to identity theft, impersonation, deception, fraud, misappropriation or other offenses in which such information may be used to cause harm to our business and have a
        material adverse effect on our financial condition, business, results of operations and cash flows.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">We must effectively manage the growth of our operations, or our company will suffer.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our ability to successfully implement our business plan requires an effective planning and management process. If funding is available, we intend to
        increase the scope of our operations and acquire complimentary businesses. Implementing our business plan will require significant additional funding and resources. If we grow our operations, we will need to hire additional employees and make
        significant capital investments. If we grow our operations, it will place a significant strain on our existing management and resources. If we grow, we will need to improve our financial and managerial controls and reporting systems and procedures,
        and we will need to expand, train and manage our workforce. Any failure to manage any of the foregoing areas efficiently and effectively would cause our business to suffer.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our revenues are concentrated in a limited number of clients and our revenues may be significantly reduced if these clients
        decrease their IT spending.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our client contracts are based on time and materials expenses. We do not have long-term client contracts. Our client contracts contain standard
        payment terms, and our clients only pay us for services rendered. We have limited exposure for non-payment by our clients and do not have any unresolved client debts. While our client contracts can be terminated with little or no notice, it is
        uncommon for our clients to terminate an engagement in the middle of the implementation of services.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">For the twelve-month period ended December 31, 2017 and the six months ended June 30, 2018, sales to five major customers accounted for approximately
        43% and 40%, respectively, of our total revenue.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">&#160;</font>Consequently, if our top clients reduce or postpone their IT spending significantly, this may lower the demand
        for our services and negatively affect our revenues and profitability. Further, any significant decrease in the growth of the financial services or other industry segments on which we focus may reduce the demand for our services and negatively
        affect our revenues, profitability and cash flows.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our client contracts can typically be terminated without cause and with little or no notice or penalty, which could negatively
        impact our revenues and profitability.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">Our clients typically retain us on a non-exclusive, project-by-project basis. Many of our client contracts can be terminated
      with or without cause. Our business is dependent on the decisions and actions of our clients, and there are a number of factors relating to our clients that are outside of our control which might lead to termination of a project or the loss of a
      client, including:</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="TEXT-ALIGN: justify">&#160;</div>
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        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">17</font></div>
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z9674b7e8a6d64b9996c6974b21922b14">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">financial difficulties for a client&#894;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zec05eb55292d41c89a3d67030612255d">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">a change in strategic priorities, resulting in a reduced level of technology spending&#894;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z5d9ff336470e47629e3eda2239750486">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">a demand for price reductions&#894; or an unwillingness to accept higher pricing due to various factors such as higher wage costs, higher cost of doing business&#894;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zb93700201c404cc9bbe310aa2f7172b5">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">a change in outsourcing strategy by moving more work to the client&#8217;s in-house technology departments or to our competitors&#894;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zc7e11140ad194bcaaba093b87cb15dd6">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">the replacement by our clients of existing software with packaged software supported by licensors&#894;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="za554b09aff5f488d8bc591b933b70bc9">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">mergers and acquisitions&#894;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z7ce17a55db554508a5c8c7725f684862">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">consolidation of technology spending by a client, whether arising out of mergers and acquisitions, or otherwise&#894; and</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zc77bb42b3ad64ed099fcc6a6115a1f2f">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">sudden ramp-downs in projects due to an uncertain economic environment.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our inability to control the termination of client contracts could have a negative impact on our financial condition and results of operations.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our engagements with customers are typically singular in nature and do not necessarily provide for subsequent engagements.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our clients generally retain us on a short-term, engagement-by-engagement basis in connection with specific projects, rather than on a recurring
        basis under long-term contracts. Although a substantial majority of our revenues are generated from repeat business, which we define as revenues from a client who also contributed to our revenues during the prior fiscal year, our engagements with
        our clients are typically for projects that are singular in nature. Therefore, we must seek out new engagements when our current engagements are successfully completed or terminated, and we are constantly seeking to expand our business with
        existing clients and secure new clients for our services. In addition, in order to continue expanding our business, we may need to significantly expand our sales and marketing group, which would increase our expenses and may not necessarily result
        in a substantial increase in business. If we are unable to generate a substantial number of new engagements for projects on a continual basis, our business and results of operations would likely be adversely affected.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our results of operations may fluctuate from quarter to quarter, which could affect our business, financial condition and results
        of operations.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our results of operations may fluctuate from quarter to quarter depending upon several factors, some of which are beyond our control. These factors
        include the timing and number of client projects commenced and completed during the quarter, the number of working days in a quarter, employee hiring, attrition and utilization rates and the mix of time-and-material projects versus fixed price
        deliverable projects and maintenance projects during the quarter. Additionally, periodically our cost increases due to both the hiring of new employees and strategic investments in infrastructure in anticipation of future opportunities for revenue
        growth.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">These and other factors could affect our business, financial condition and results of operations, and this makes the prediction of our financial
        results on a quarterly basis difficult. Also, it is possible that our quarterly financial results may be below the expectations of public market analysts.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">We are heavily dependent on our senior management, and a loss of a member of our senior management team could cause our stock
        price and the value of our warrants to suffer.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">If we lose members of our senior management, we may not be able to find appropriate replacements on a timely basis, and our business could be
        adversely affected. Our existing operations and continued future development depend to a significant extent upon the performance and active participation of certain key individuals. We do not currently maintain key man insurance. If we were to lose
        any of our key personnel, we may not be able to find appropriate replacements on a timely basis and our financial condition and results of operations could be materially adversely affected.</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">18</font></div>
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Our international sales and operations are subject to applicable laws relating to trade, export controls
      and foreign corrupt practices, the violation of which could adversely affect its operations.</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We must comply with all applicable international trade, customs, export controls and economic sanctions laws and regulations of the United States and
        other countries. We are also subject to the Foreign Corrupt Practices Act and other anti-bribery laws that generally bar bribes or unreasonable gifts to foreign governments or officials. Changes in trade sanctions laws may restrict our business
        practices, including cessation of business activities in sanctioned countries or with sanctioned entities, and may result in modifications to compliance programs. Violation of these laws or regulations could result in sanctions or fines and could
        have a material adverse effect on our financial condition, results of operations and cash flows.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our income tax returns are subject to review by taxing authorities, and the final determination of our tax liability with respect
        to tax audits and any related litigation could adversely affect our financial results.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Although we believe that our tax estimates are reasonable and that we prepare and submit our tax filings on a timely basis and in accordance with all
        applicable tax laws, the final determination with respect to any tax audits, and any related litigation, could be materially different from our estimates or from our historical income tax provisions and accruals. The results of an audit or
        litigation could have a material effect on operating results and/or cash flows in the periods for which that determination is made. In addition, future period earnings may be adversely impacted by litigation costs, settlements, penalties and/or
        interest assessments.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Failure of our customers to pay the amounts owed to us in a timely manner may adversely affect our financial condition and
        operating results.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We generally provide payment terms ranging from 30 to 60 days. As a result, we generate significant accounts receivable from sales to our customers,
        representing approximately 60% of current assets as of December 31, 2017 and approximately 83% of current assets as of June 30, 2018. Accounts receivable from sales to customers were $8.8 million as of December 31, 2017 and $7.9 million as of June
        30, 2018. As of June 30, 2018, the largest amount owed by a single customer was approximately 9% of total accounts receivable. As of June 30, 2018, we had no allowance for doubtful accounts. If any of our significant customers have insufficient
        liquidity, we could encounter significant delays or defaults in payments owed to us by such customers, and we may need to extend our payment terms or restructure the receivables owed to us, which could have a significant adverse effect on our
        financial condition. Any deterioration in the financial condition of our customers will increase the risk of uncollectible receivables. Global economic uncertainty could also affect our customers&#8217; ability to pay our receivables in a timely manner
        or at all or result in customers going into bankruptcy or reorganization proceedings, which could also affect our ability to collect our receivables.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">If we are unable to collect our dues or receivables from or invoice our unbilled services to our clients, our results of
        operations and cash flows could be adversely affected.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our business depends on our ability to successfully obtain payments from our clients of the amounts they owe us for work performed. We evaluate the
        financial condition of our clients and usually bill and collect on relatively short cycles. Macroeconomic conditions, such as a potential credit crisis in the global financial system, could result in financial difficulties for our clients,
        including limited access to the credit markets, insolvency or bankruptcy. Such conditions could cause clients to delay payment, request modifications of their payment terms, or default on their payment obligations to us, all of which could increase
        our receivables. If we experience delays in the collection of, or are unable to collect, our client balances, our results of operations and cash flows could be adversely affected. In addition, if we experience delays in billing and collection for
        our services, our cash flows could be adversely affected.</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">19</font></div>
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Goodwill that we carry on our balance sheet could give rise to significant impairment charges in the future.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Goodwill is subject to impairment review at least annually. Impairment testing under standards as issued by the Financial Accounting Standards Board
        may lead to impairment charges in the future. Any significant impairment charges could have a material adverse effect on our results of operations.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our revenue and operating results may be affected by the rate of growth in the use of technology in business and the type and
        level of technology spending by our clients.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">Our business depends, in part, upon continued reliance on the use of technology in business by our clients and prospective
      clients as well as their customers and suppliers. In particular, the success of our new service offerings requires continued demand for such services and our ability to meet this demand in a cost-effective manner. In challenging economic
      environments, our clients may reduce or defer their spending on new technologies in order to focus on other priorities and prospective clients may decide not to engage our services. Also, many companies have already invested substantial resources in
      their current means of conducting commerce and exchanging information, and they may be reluctant or slow to adopt new approaches that could disrupt existing personnel, processes and infrastructures. If the growth of technology usage in business, or
      our clients&#8217; spending on such technology, declines, or if we cannot convince our clients or potential clients to embrace new technological solutions, our revenue and operating results could be adversely affected.</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our business will suffer if we fail to anticipate and develop new services and enhance existing services in order to keep pace
        with rapid changes in technology and the industries on which we focus.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The ERP services market is characterized by rapid technological changes, evolving industry standards, changing client preferences and new product and
        service introductions. Our future success will depend on our ability to anticipate these advances and enhance our existing offerings or develop new product and service offerings to meet client needs. We may not be successful in anticipating or
        responding to these advances on a timely basis, or, if we do respond, the services or technologies we develop may not be successful in the marketplace. We may also be unsuccessful in stimulating customer demand for new and upgraded products, or
        seamlessly managing new product introductions or transitions. Further, products, services or technologies that are developed by our competitors may render our services non-competitive or obsolete. Our failure to address the demands of the rapidly
        evolving information technology environment, particularly with respect to digital technology, the internet of things, artificial intelligence, cloud computing and storage, mobility and applications and analytics, could have a material adverse
        effect on our business, results of operations and financial condition.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business,
        investments and results of operations.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We are subject to laws and regulations enacted by national, regional and local governments, including non-U.S. governments. In particular, we are
        required to comply with certain SEC and other legal requirements. Compliance with, and monitoring of, applicable laws and regulations may be difficult, time consuming and costly. Those laws and regulations and their interpretation and application
        may also change from time to time and those changes could have a material adverse effect on our business, investments and results of operations. In addition, a failure to comply with applicable laws or regulations, as interpreted and applied, could
        have a material adverse effect on our business and results of operations.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our international operations subject us to exposure to foreign currency fluctuations.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We have operations in three countries and as we expand our international operations, more of our customers pay us in foreign currencies. Transactions
        in currencies other than U.S. dollars subject us to fluctuations in currency exchange rates. Accordingly, changes in exchange rates between the U.S. dollar and other currencies could have a material adverse effect on our revenues and net income,
        which may in turn have a negative impact on our business, results of operations, financial condition and cash flows. The exchange rate between the U.S. dollar and other currencies has changed substantially in recent years and may fluctuate in the
        future. We expect that the vast majority of our revenues will continue to be generated in U.S. dollars for the foreseeable future and that a significant portion of our expenses, including personnel costs, as well as capital and operating
        expenditures, will continue to be denominated in other currencies such as Indian Rupee. The hedging strategies that we may implement in the future to mitigate foreign currency exchange rate risks may not reduce or completely offset our exposure to
        foreign exchange rate fluctuations and may expose our business to unexpected market, operational and counterparty credit risks. Accordingly, we may incur losses from our use of foreign exchange derivate contracts that could have a material adverse
        effect on our business, results of operations and financial condition.</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">20</font></div>
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Acquisitions, expansions or infrastructure investments may require us to increase our level of indebtedness or issue additional
        equity.</div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As we continue to consummate additional acquisition opportunities, undertake additional expansion activities or make substantial investments in our
        infrastructure, our capital needs continue to expand. Accordingly, we may need to draw down additional borrowings under our credit facility or access public or private debt or equity markets. There can be no assurance, however, that we will be
        successful in raising additional debt or equity, or that we will be able to raise such funds on terms that we would consider acceptable.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">An increase in the level of indebtedness, if any, could, among other things:</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zc0d18c1da0a8460c9cace76807b99954">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">make it difficult for us to obtain financing in the future for acquisitions, working capital, capital expenditures, debt service requirements or other purposes;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z7cefe98d7b0e4a96b24f0e7d8c6168f0">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">limit our flexibility in planning for or reacting to changes in our business;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z7badbd62d0124b44a5a2eba8a7570829">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">limit our ability to pay dividends;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zb3f68d86f0c3450c9b6fc60ed550da91">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">make us more vulnerable in the event of a downturn in our business; and</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zfa7f6c1be4b84f27ac03ddc77af3bd31">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">affect certain financial covenants with which we must comply in connection with our credit facilities.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Additionally, any further equity offering would dilute your ownership interest in our company.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">Our earnings and financial condition may be negatively impacted by certain tax related matters.</div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We are subject to income taxes in the United States and numerous foreign jurisdictions. Our provision for income taxes and cash tax liability could
        be adversely affected by numerous factors, including income before taxes being lower than anticipated in countries with lower statutory tax rates and higher than anticipated in countries with higher statutory tax rates, changes in the valuation of
        deferred tax assets and liabilities, changes in accounting principles or interpretations and changes in tax laws. Certain jurisdictions, including the United States, are actively contemplating tax reform and tax policy changes. Any of these changes
        could adversely impact our results of operations and financial condition in future periods. In addition, our income tax returns are subject to examination in the jurisdictions in which we operate. An unfavorable outcome of one or more of these
        examinations may have an adverse effect on our business, results of operations and financial condition.</div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">21</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="background-color: rgb(255, 255, 255);">
      <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;"> <font style="font-weight: bold; font-style: italic;">International hostilities, terrorist activities, other violence or war, natural disasters, pandemics
          and infrastructure disruptions, could delay or reduce the number of new service orders we receive and impair our ability to service our customers, thereby adversely affecting our business, results of operations and financial condition.</font></div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"> <br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Hostilities involving acts of terrorism, violence or war, natural disasters, global health risks or pandemics or the threat or perceived potential
        for these events could materially adversely affect our operations and our ability to provide services to our customers. Such events may cause customers to delay their decisions on spending for information technology, consulting, and business
        process services and give rise to sudden significant changes in regional and global economic conditions and cycles. These events also pose significant risks to our personnel and to our and our customers&#8217; physical facilities and operations around
        the world. Additionally, by disrupting communications and travel, giving rise to travel restrictions, and increasing the difficulty of obtaining and retaining highly-skilled and qualified personnel, these events could make it difficult or
        impossible for us to deliver services to some or all of our customers. The majority of our employees are located in India, and the vast majority of our technical professionals in the United States and Canada are Indian nationals who are able to
        work in the United States and Europe only because they hold current visas and work permits. Any inability to travel could cause us to incur additional unexpected costs and expenses or could impair our ability to retain the skilled professionals we
        need for our operations. In addition, any extended disruptions of electricity, other public utilities or network services at our facilities could also adversely affect our ability to serve our customers.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Hostilities involving the United States, Canada and India where we provide services to our customers, and other acts of terrorism, violence or war,
        natural disasters, global health risks or pandemics may reduce the demand for our services and negatively affect our revenues. If we fail to defend against any of these occurrences, we might be unable to protect our people, facilities and systems.
        If these disruptions prevent us from effectively serving our customers, our business, results of operations and financial condition could be adversely affected.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Anti-outsourcing legislation, if adopted, and negative perceptions associated with offshore outsourcing
      could impair our ability to service our customers and adversely affect our business, results of operations and financial condition.</div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The issue of companies outsourcing services to organizations operating in other countries is a topic of political discussion in the United States,
        which is our largest market. For example, a number of measures aimed at limiting or restricting outsourcing by U.S. companies have been put forward for consideration by the U.S. Congress and in various state legislatures to address concerns over
        the perceived association between offshore outsourcing and the loss of jobs domestically. Further, the current U.S. administration or Congress may seek to limit outsourcing by U.S. companies. If enacted, such measures may broaden existing
        restrictions on outsourcing by federal and state government agencies and on government contracts with firms that outsource services directly or indirectly, or impact private industry with measures that include tax disincentives, fees or penalties,
        intellectual property transfer restrictions, mandatory government audit requirements, and new standards that have the effect of restricting the use of certain business and/or work visas. In the event that any of these measures become law, our
        ability to provide services to our customers could be impaired, which could adversely affect our business, results of operations and financial condition.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, from time to time there has been publicity about negative experiences associated with offshore outsourcing, such as domestic job loss
        and theft and misappropriation of sensitive customer data, particularly involving service providers in India. Current or prospective customers may elect to perform certain services themselves or may be discouraged from utilizing global service
        delivery providers due to negative perceptions that may be associated with using global service delivery models or firms. Any slowdown or reversal of existing industry trends toward global service delivery would seriously harm our ability to
        compete effectively with competitors that provide the majority of their services from within the country in which our customers operate.</div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">&#160;</div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Restrictions on immigration may affect our ability to compete for and provide services to customers,
      which could hamper our growth and cause our revenues to decline.</div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">Our future success continues to depend on our ability to attract and retain employees with technical and project management
      skills, including those from developing countries, especially India. The ability of foreign nationals to work in the United States, depends on their and our ability to obtain the necessary visas and work permits for our personnel who need to travel
      internationally. If we are unable to obtain such visas or work permits, or if their issuance is delayed or if their length is shortened, we may not be able to provide services to our customers or to continue to provide services on a timely and
      cost-effective basis, receive revenues as early as expected or manage our delivery centers as efficiently as we otherwise could, any of which could have a material adverse effect on our business, results of operations and financial condition.</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">22</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">Immigration and work permit laws and regulations in the countries in which we have customers are subject to legislative and
      administrative changes as well as changes in the application of standards and enforcement. For example, the U.S. Congress has been actively considering various proposals that would make extensive changes to U.S. immigration laws regarding the
      admission of high-skilled temporary and permanent workers. Further, the current U.S. administration or Congress may seek to limit the admission of high-skilled temporary and permanent workers and has issued and may continue to issue executive orders
      designed to limit immigration. Any such provisions may increase our cost of doing business in the United States and may discourage customers from seeking our services. Our international expansion strategy and our business, results of operations and
      financial condition may be materially adversely affected if changes in immigration and work permit laws and regulations or the administration or enforcement of such laws or regulations impair our ability to staff projects with professionals who are
      not citizens of the country where the work is to be performed.</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Risk Factors Relating to Our Indebtedness</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">We have a substantial amount of indebtedness, which may limit our operating flexibility and could adversely affect our results of
        operations and financial condition.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of August 20, 2018, we had approximately $3.1 million in borrowings outstanding under our senior secured credit facility (the &#8220;Credit Facility&#8221;),
        which provides for up to $8 million in principal for revolving loans (the &#8220;Revolving Loans&#8221;) for general working capital purposes.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, we have an outstanding aggregate of $1.25 million in 8% Convertible Unsecured Promissory Notes (the &#8220;2017 Notes&#8221;), which were issued to
        four accredited investors, including one of the Company&#8217;s then-directors, Dhruwa N. Rai, and David Luci, who became a director of the Company in February 2018. The 2017 Notes bear interest at 8% per annum until maturity in March 2020, with interest
        being paid annually on the first, second and third anniversaries of the issuance of the 2017 Notes beginning in March 2018. From and after an event of default and for so long as the event of default is continuing, the 2017 Notes will bear default
        interest at the rate of 10% per annum. The 2017 Notes can be prepaid by us at any time without penalty.</div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The 2017 Notes are convertible into shares of our common stock at a conversion price equal to $2.80. The holders of the 2017 Notes have the right, at
        their option, at any time and from time to time to convert, in part or in whole, the outstanding principal amount and all accrued and unpaid interest under the 2017 Notes into shares of the Company&#8217;s common stock at the then applicable conversion
        price.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The 2017 Notes rank junior to our secured credit facility with Sterling National Bank. The 2017 Notes also include certain negative covenants
        including, without the investors&#8217; approval, restrictions on dividends and other restricted payments and reclassification of its stock.</div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our level of indebtedness may make it difficult to service our debt and may adversely affect our ability to obtain additional financing, use
        operating cash flow in other areas of our business or otherwise adversely affect our operations.</div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify"><br>
      </div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">23</font></div>
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: left;">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">We have received a notice from our senior secured commercial lender for the termination of our revolving credit facility, which
        termination could significantly impair our operations and adversely affect our results of operations and financial condition.</div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"> <br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On July 9, 2018, we received a Notice of Default and Acceleration of Obligations from Sterling National Bank. The Notice asserted events of default
      resulting from the Company&#8217;s failure to comply with certain financial covenants set forth in the Loan Agreement and the impaired financial condition of the Company. In the Notice, Sterling National Bank declares that all amounts due in respect of its
      loans shall be due and payable on August 31, 2018, and the Borrowers are required to pay Sterling National Bank all amounts due as obligations on or before the Termination Date. Until the Termination Date, Sterling National Bank will continue to fund
      the Revolving Loans to the Borrowers at its discretion; however, Sterling National Bank may decline to advance funds to the Borrowers at any time in its sole discretion. It is anticipated that, on the Termination Date, the financing commitments shall
      terminate and no further loans, advances or other extensions of credit will be made to or for the benefit of the Borrowers.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">If the obligations are not satisfied by the Termination Date, all outstanding obligations will bear interest at the default rate under the Loan
      Agreement and Sterling National Bank may exercise any or all of its rights and remedies under the loan documents, including foreclosing on any and all collateral. While the Notice does not state that Sterling National Bank is presently exercising, or
      will exercise prior to the Termination Date, its rights and remedies available upon an event of default, it reserves its right to do so at any time in its sole discretion. The exercise of certain remedies may have a material adverse effect on the
      liquidity, financial condition and results of operations of the Company and could cause the Company to become bankrupt or insolvent.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Our level of indebtedness may make it difficult to repay our debt and may adversely
        affect our ability to obtain additional financing, use operating cash flow in other areas of our business or otherwise adversely affect our operations. </font>We are currently looking for additional sources of financing, however there is no
      guarantee that we will have additional financing available to us.</div>
    <div><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Risks Relating to Our Securities</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Our stock price may be volatile, which could result in substantial losses for investors.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The market price of our common stock may be volatile and could fluctuate widely in response to various factors, many of which are beyond our control,
        including the following:</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zbef86b20840f4f4e94d5bb2368ff26cc">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">technological innovations or new products and services by us or our competitors;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zdfa9dce2c6964c2db035a3f2b007df4c">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">additions or departures of key personnel;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z091027646114490fb4a11fd0482adf7a">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">sales of our common stock, including management shares;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zcdb09d98385e460ab248bf3a22c84ac4">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">limited availability of freely-tradable &#8220;unrestricted&#8221; shares of our common stock to satisfy purchase orders and demand;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z5883ca5bbbf747a2aca364b73700b0dc">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">our ability to execute our business plan;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zb114262fd5ee493f80e483a653c9af80">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">operating results that fall below expectations;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zf3fd355bc3884a22b9a4753899ec5041">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">loss of any strategic relationship;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z625d3e5d1a734599bcd7e404070355db">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">industry developments;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z29e66b9a574048b480beeca141502cc0">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">economic and other external factors;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zd146cebba94d412f948a98cbff7163d1">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">our ability to manage the costs of maintaining adequate internal financial controls and procedures in connection with the acquisition of additional businesses; and</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z4001c0bed2b64a6a9c0f242a03e32fc5">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">period-to-period fluctuations in our financial results.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, the securities markets have from time to time experienced significant price and volume fluctuations that are unrelated to the operating
        performance of particular companies. These market fluctuations may also significantly affect the market price of our common stock.</div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">24</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Holders of our warrants will have no rights as a common stockholder until they exercise their warrants and acquire our common
        stock.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">Until a holder of our warrants acquires shares of our common stock upon exercise of such warrants, such holder will have no
      rights with respect to shares of our common stock issuable upon exercise of the warrants. Upon exercise of warrants by, the holder shall become entitled to exercise the rights of a common stockholder only as to matters for which the record date
      occurs after the exercise date.</div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">A significant number of our shares are eligible for sale and their sale or potential sale may depress the market price of our
        common stock.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">Sales of a significant number of shares of our common stock in the public market could harm the market price of our common
      stock. Certain of our stockholders currently hold shares which are subject to restrictive legends that may be eligible for removal, and if such stockholders complete the process for removal of an applicable restrictive legend, their shares will
      become freely tradeable.&#160; In addition, over 8.5 million shares are issuable upon exercise of options and warrants (not including the Private Placement Warrants), settlement of restricted stock units and conversion of the 2017 Notes. Pursuant to an
      effective registration statement, 1,000,000 shares issuable upon exercise of outstanding warrants are freely tradeable unless they are purchased by our &#8220;affiliates,&#8221; as defined in Rule 144 under the Securities Act. If any options are exercised,
      restricted stock units are settled or the 2017 Notes are converted, the shares issued upon such exercise, settlement or conversion (as applicable) will also be restricted, but may be sold under Rule 144 after the shares have been held for six months.
      Sales under Rule 144 may be subject to volume limitations and other conditions.</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">&#160;</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">In addition to the possibility that actual sales of significant amounts of our common stock in the public market could harm
      our common stock price, the fact that our stockholders have the ability to make such sales could create a circumstance commonly referred to as an &#8220;overhang,&#8221; in anticipation of which the market price of our common stock could fall. The existence of
      an overhang, whether or not sales have occurred or are occurring, could also make it more difficult for us to raise additional financing through the sale of equity or equity-related securities in the future at a time and price that we deem reasonable
      or appropriate.</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">We do not expect to pay dividends in the future. As a result, any return on investment may be limited to the value of our common
        stock.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">We have never paid cash dividends on our common stock and do not anticipate paying cash dividends on our common stock in the
      foreseeable future. The payment of dividends on our common stock will depend on our earnings, financial condition and other business and economic factors as our board of directors may consider relevant. In addition, no dividends will be declared or
      paid or set apart for payment on our common stock unless all accumulated accrued and unpaid dividends in respect of our Series A Preferred Stock are contemporaneously declared and paid in cash or declared and a sum of cash sufficient for the payment
      thereof set apart for such payment on the Series A Preferred Stock for all past dividend periods with respect to which full dividends were not paid on the Series A Preferred Stock in cash. If we do not pay dividends, our common stock may be less
      valuable because a return on your investment will only occur if our stock price appreciates.</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">We currently have Series A Preferred Stock outstanding and our certificate of incorporation authorizes our board of directors to
        create new series of preferred stock without further approval by our stockholders, which could adversely affect the rights of the holders of our common stock.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our board of directors has the authority to fix and determine the relative rights and preferences of preferred stock. Our board of directors also has
        the authority to issue preferred stock without further stockholder approval. We currently have 418,626 shares of Series A Preferred Stock outstanding. The Series A Preferred Stock Certificate of Designation provides for (a) the payment in-kind in
        additional shares of Series A Preferred of dividends for all dividend periods from April 1, 2018 through March 31, 2020 at a rate of 2% per annum of the liquidation preference (the &#8220;Adjusted Rate&#8221;); and, commencing April 1, 2020, we will pay cash
        dividends per share at a rate per annum equal to the Adjusted Rate multiplied by the liquidation preference; provided, however, dividends for periods ending after April 1, 2020 may be paid at the election of the Company&#8217;s board of directors in-kind
        through the issuance of additional shares of Series A Preferred for up to four dividend periods in any consecutive 36-month period, determined on a rolling basis. Our Series A Preferred Stock gives its holders the preferred right to our assets upon
        liquidation, the right to receive dividend payments before dividends are distributed to the holders of common stock and the right to the redemption of the shares, together with a premium, prior to the redemption of our common stock. In addition,
        our board of directors could authorize the issuance of additional series of preferred stock with such rights preferential to the rights of our common stock, including the issuance of a series of preferred stock that has greater voting power than
        our common stock or that is convertible into our common stock, which could decrease the relative voting power of our common stock or result in dilution to our existing stockholders.</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">25</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Because certain of our stockholders control a significant number of shares of our common stock, they may have effective control
        over actions requiring stockholder approval.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">A small number of our stockholders, and their respective affiliates, collectively, control the majority of our voting
      securities. Accordingly, such stockholders, and their respective affiliates, will have significant influence on the ability to control the Company and the outcome of issues submitted to our stockholders.</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our
        stock price and trading volume could decline.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">The trading market for our common stock will depend in part on the research and reports that securities or industry analysts
      publish about us or our business. We currently have limited research coverage by securities and industry analysts and you should not invest in our common stock in anticipation that we will obtain additional analyst coverage. If one or more of the
      analysts who covers us downgrades our stock or publishes inaccurate or unfavorable research about our business, our stock price would likely decline. If one or more of these analysts ceases coverage of us or fails to publish reports on us regularly,
      demand for our stock could decrease, which could cause our stock price and trading volume to decline.</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">If the benefits of any proposed acquisition do not meet the expectations of investors, stockholders or financial analysts, the
        market price of our common stock may decline.</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">If the benefits of any proposed acquisition do not meet the expectations of investors or securities analysts, the market
      price of our common stock prior to the closing of the proposed acquisition may decline. The market values of our common stock at the time of the proposed acquisition may vary significantly from their prices on the date the acquisition target was
      identified.</div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">In addition, broad market and industry factors may materially harm the market price of our common stock irrespective of our
      operating performance. The stock market in general has experienced price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of the particular companies affected. The trading prices and valuations
      of these stocks, and of our securities, may not be predictable. A loss of investor confidence in the market for retail stocks or the stocks of other companies which investors perceive to be similar to us could depress our stock price regardless of
      our business, prospects, financial conditions or results of operations. A decline in the market price of our securities also could adversely affect our ability to issue additional securities and our ability to obtain additional financing in the
      future.</div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">26</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="background-color: rgb(255, 255, 255);">
      <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">
        <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Changes in accounting principles and guidance, or their interpretation, could result in unfavorable accounting charges or
          effects, including changes to our previously filed financial statements, which could cause our stock price to decline.</div>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"> <br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We prepare our consolidated financial statements in accordance with GAAP. These principles are subject to interpretation by the SEC and various
        bodies formed to interpret and create appropriate accounting principles and guidance. A change in these principles or guidance, or in their interpretations, may have a significant effect on our reported results and retroactively affect previously
        reported results.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Being a public company results in additional expenses, diverts management&#8217;s attention and could also adversely affect our ability
        to attract and retain qualified directors.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As a public reporting company, we are subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;).
        These requirements generate significant accounting, legal and financial compliance costs and make some activities more difficult, time consuming or costly and may place significant strain on our personnel and resources. The Exchange Act requires,
        among other things, that we maintain effective disclosure controls and procedures and internal control over financial reporting. In order to establish the requisite disclosure controls and procedures and internal control over financial reporting,
        significant resources and management oversight are required.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As a result, management&#8217;s attention may be diverted from other business concerns, which could have an adverse and even material effect on our
        business, financial condition and results of operations. These rules and regulations may also make it more difficult and expensive for us to obtain director and officer liability insurance. If we are unable to obtain appropriate director and
        officer insurance, our ability to recruit and retain qualified officers and directors, especially those directors who may be deemed independent, could be adversely impacted.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">If our shares of common stock become subject to the penny stock rules, it would become more difficult to trade our shares.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">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 retain our listing on The Nasdaq Capital Market 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&#8217;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.</div>
      <div><br>
      </div>
    </div>
    <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; font-weight: bold; font-style: italic; text-align: justify; background-color: rgb(255, 255, 255);">We are an &#8220;emerging growth company&#8221; and our election to delay adoption of new or
      revised accounting standards applicable to public companies may result in our financial statements not being comparable to those of some other public companies. As a result of this and other reduced disclosure requirements applicable to emerging
      growth companies, our securities may be less attractive to investors.</div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As a public reporting company with less than $1,070,000,000 in revenue during our last fiscal year, we qualify as an &#8220;emerging growth company&#8221; under
        the Jumpstart our Business Startups Act of 2012 (the &#8220;JOBS Act&#8221;). 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:</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">27</font></div>
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z84c00b91d49a4dd6926812270d128e7e">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">are not required to obtain an attestation and report from our auditors on our management&#8217;s assessment of our internal control over financial reporting pursuant to the
                  Sarbanes-Oxley Act of 2002;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zf6bfe376eeef4a12a90d746d1f4617f3">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">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 &#8220;compensation discussion and analysis&#8221;);</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z33b77595f6904c9caec794a3e72614e1">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">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 &#8220;say-on-pay,&#8221;
                  &#8220;say-on-frequency&#8221; and &#8220;say-on-golden-parachute&#8221; votes);</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z50d8000209f8418ab990231c9049727c">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">are exempt from certain executive compensation disclosure provisions requiring a pay-for-performance graph and CEO pay ratio disclosure;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z19a6d325823d43589c3574ab3f25f38f">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">may present only two years of audited financial statements and only two years of related Management&#8217;s Discussion &amp; Analysis of Financial Condition and Results of Operations
                  (&#8220;MD&amp;A&#8221;); and</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z60f70562cb97468aa5e588edee6f11a1">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">are eligible to claim longer phase-in periods for the adoption of new or revised financial accounting standards under &#167;107 of the JOBS Act.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">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 &#167;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 &#167;107 of the JOBS Act.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Certain of these reduced reporting requirements and exemptions were already available to us due to the fact that we also qualify as a &#8220;smaller
        reporting company&#8221; under SEC rules. For instance, smaller reporting companies are not required to obtain an auditor attestation and report regarding management&#8217;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 Chief Executive Officer pay ratio disclosure; and may present only two years of audited financial statements and related MD&amp;A disclosure.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"> 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 of 1933, as amended (the &#8220;Securities Act&#8221;), or such earlier time that we no longer meet the definition of an emerging growth company.
          In this regard, the JOBS Act provides that we would cease to be an &#8220;emerging growth company&#8221; if we have more than $1,070,000,000 in annual revenues, have more than $700 million in market value of our common stock held by non-affiliates, or issue
          more than $1.0 billion in principal amount of non-convertible debt over a three-year period. Further, under current SEC rules we will continue to qualify as a &#8220;smaller reporting company&#8221; for so long as we have a public float (i.e., the market
          value of common equity held by non-affiliates) of less than $250 million as of the last business day of our most recently completed second fiscal quarter. </div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We cannot predict if investors will find our securities less attractive due to our reliance on these exemptions.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Failure to establish and maintain effective internal controls in accordance with Section 404 of the Sarbanes-Oxley Act could have
        a material adverse effect on our business, stock price and the value of our warrants.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">
        <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">We are required to comply with the SEC&#8217;s rules implementing Sections 302 and 404 of the Sarbanes-Oxley Act, which require management to certify financial
          and other information in our quarterly and annual reports and provide an annual management report on the effectiveness of controls over financial reporting. We are required to disclose changes made in our internal controls and procedures on a
          quarterly basis, and we are required to make internal annual assessments of our internal control over financial reporting pursuant to Section 404. However, as an emerging growth company, our independent registered public accounting firm will not
          be required to formally attest to the effectiveness of our internal control over financial reporting pursuant to Section 404 until we no longer qualify as an emerging growth company. At such time, our independent registered public accounting firm
          may issue a report that is adverse in the event it is not satisfied with the level at which our controls are documented, designed or operating.</div>
        <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;</div>
      </div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">28</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
          <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">To comply with the requirements of being a public company, we have undertaken various actions, and may need to take additional actions, such as
        implementing new internal controls and procedures and hiring additional accounting or internal audit staff. Testing and maintaining internal control can divert our management&#8217;s attention from other matters that are important to the operation of our
        business. Additionally, when evaluating our internal control over financial reporting, we may identify material weaknesses that we may not be able to remediate in time to meet the applicable deadline imposed upon us for compliance with the
        requirements of Section 404. If we identify any material weaknesses in our internal control over financial reporting or are unable to comply with the requirements of Section 404 in a timely manner or assert that our internal control over financial
        reporting is effective, or if our independent registered public accounting firm is unable to express an opinion as to the effectiveness of our internal control over financial reporting once we are no longer an emerging growth company, investors may
        lose confidence in the accuracy and completeness of our financial reports and the market price of our common stock could be negatively affected, and we could become subject to investigations by the Financial Industry Regulatory Agency, the SEC or
        other regulatory authorities, which could require additional financial and management resources.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rule 13a-15(f) of
        the Exchange Act. Our management has assessed the effectiveness of our internal control over financial reporting as of December 31, 2017, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring
        Organizations of the Treadway Commission. Our internal control over financial reporting includes maintaining records that in reasonable detail accurately and fairly reflect our transactions and dispositions of our assets&#894; providing reasonable
        assurance that transactions are recorded as necessary for preparation of our financial statements in accordance with generally accepted accounting principles&#894; providing reasonable assurance that receipts and expenditures are made in accordance with
        authorizations of management and our directors&#894; and providing reasonable assurance that unauthorized acquisition, use or disposition of our assets that could have a material effect on our financial statements would be prevented or detected on a
        timely basis. As a result of this assessment, our management concluded that, as of December 31, 2017, our internal control over financial reporting was not yet effective in providing reasonable assurance regarding the reliability of financial
        reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. This is largely due to the fact that we are acquiring privately held companies as part of our growth strategy
        and our control procedures over all acquired subsidiaries will not be effective until such time as we are able to fully integrate the acquisition with our company and set processes and procedures for the acquired entities. We are working to improve
        and harmonize our financial reporting controls and procedures across all of our companies.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Anti-takeover provisions contained in our certificate of incorporation and bylaws, as well as provisions of Delaware law, could
        impair a takeover attempt.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Company&#8217;s certificate of incorporation and bylaws contain provisions that could have the effect of delaying or preventing changes in control or
        changes in our management without the consent of our board of directors. These provisions include:</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z358381f76df8425d88447871853f7894">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">no cumulative voting in the election of directors, which limits the ability of minority stockholders to elect director candidates;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z16f244eadad7480bb067023c2053c625">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">the exclusive right of our board of directors to elect a director to fill a vacancy created by the expansion of the board of directors or the resignation, death, or removal of a
                  director, which prevents stockholders from being able to fill vacancies on our board of directors;</div>
              </td>
            </tr>

        </table>
      </div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">29</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
          <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zcbcbeb3cb1564c72abeeefe5ff756f60">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">the ability of our board of directors to determine whether to issue shares of our preferred stock and to determine the price and other terms of those shares, including preferences
                  and voting rights, without stockholder approval, which could be used to significantly dilute the ownership of a hostile acquirer;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z0b0be284de7a4aa8b057efdf5dfef202">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">limiting the liability of, and providing indemnification to, our directors and officers;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z190686a3d797431581c04fa28b780dd6">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">controlling the procedures for the conduct and scheduling of stockholder meetings; and</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z7e05d225cd344ca89589deb4c11ae5a7">

            <tr>
              <td style="WIDTH: 36pt"></td>
              <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">advance notice procedures that stockholders must comply with in order to nominate candidates to our board of directors or to propose matters to be acted upon at a stockholders&#8217;
                  meeting, which may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer&#8217;s own slate of directors or otherwise attempting to obtain control of the Company.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>&#160;</div>
      <div>
        <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">
          <div style="background-color: rgb(255, 255, 255);">
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Our amended and restated bylaws designate courts in the State of Delaware as the sole and exclusive forum for certain
                types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders&#8217; ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees. </div>

            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> <br>
               </div>

            <div style="text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-style: italic; font-weight: bold;">
              <div style="background-color: rgb(255, 255, 255);">
                <div style="text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-weight: normal; font-style: normal; text-indent: 36pt;"> Our amended and restated bylaws provide that, unless we consent to an alternative
                    forum, the Court of Chancery in the State of Delaware (or, if the Court of Chancery does not have jurisdiction, the Superior Court of the State of Delaware, or, if such other court does not have jurisdiction, the United States District
                    Court for the District of Delaware) will be the sole and exclusive forum for any derivative action or proceeding brought on behalf of the Company, any action asserting a claim of breach of a fiduciary duty owed by any director, officer
                    or other employee of the Company to the Company or the Company&#8217;s stockholders, any action asserting a claim arising pursuant to any provision of the General Corporation Law of the State of Delaware, or the Company&#8217;s certificate of
                    incorporation or the bylaws, or any action asserting a claim governed by the internal affairs doctrine. This provision may limit a stockholder&#8217;s ability to bring a claim in a judicial forum that it finds favorable for disputes with us
                    or our directors, officers or other employees, which may discourage such lawsuits. Alternatively, if a court were to find this provision of our amended and restated bylaws inapplicable to, or unenforceable in respect of, one or more of
                    the specified types of actions or proceedings, we may incur additional costs associated with resolving such matters in other jurisdictions. </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div> <br>
      </div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">30</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
          <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"><a name="CAUTIONARYNOTEREGARDINGFO"><!--Anchor--></a>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">This prospectus contains forward-looking statements within the meaning of the &#8220;safe harbor&#8221; provisions of the Private Securities Litigation Reform Act
      of 1995.&#160; Specifically, forward-looking statements may include statements relating to:</div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z15d2937c5a99452e908df68b5514d8ee">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">our future financial performance;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z5efe645e3d1749d7af790169de44650a">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">changes in the market for our products;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z356ccfc316784daebe4655013b302e0b">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">our expansion plans and opportunities; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zf60b9ce9e62b438baf55682f768150cf">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">other statements preceded by, followed by or that include the words &#8220;estimate,&#8221; &#8220;plan,&#8221; &#8220;project,&#8221; &#8220;forecast,&#8221; &#8220;intend,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;seek,&#8221; &#8220;target&#8221; or
                similar expressions.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">These forward-looking statements are based on information available as of the date of this prospectus and current expectations, forecasts and
      assumptions, and involve a number of judgments, risks and uncertainties.&#160; Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update
      forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those
      expressed or implied by these forward-looking statements.&#160; Some factors that could cause actual results to differ include:</div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zdd4e06203a074d968a92317759a11d57">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">the level of demand for our products;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z9ed8cc5b549d43a1a06ac30f6dd88678">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">competition in our markets;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zfa388974b4ab4b4bafc060334e191bc1">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">our ability to grow and manage growth profitably;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z23145bfefe4047da8280a4a4239b73a1">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">our ability to access additional capital;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z0aeb55f3399a47298967aa858b2f2380">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">changes in applicable laws or regulations;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z443bee3e834d40f4954455701a2e1949">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">our ability to attract and retain qualified personnel;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z109ed67cb0c24952906fd0f51b436c33">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">the possibility that we may be adversely affected by other economic, business, and/or competitive factors; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z13c9600ec9b1408b9f64bb8d42471847">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">other risks and uncertainties indicated in this prospectus, including those under &#8220;Risk Factors.&#8221;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">31</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"><a name="USEOFPROCEEDS"><!--Anchor--></a>USE OF PROCEEDS</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We are registering shares of our common stock pursuant to registration rights granted to the selling stockholders. We will not receive any of the
      proceeds from any sale or other disposition of the common stock covered by this prospectus. All proceeds from the sale of the common stock will be paid directly to the selling stockholders. We will receive proceeds upon the cash exercise of the
      Warrants for which the underlying Warrant Shares are being registered hereunder. Assuming full cash exercise of the Warrants, we would receive proceeds of approximately $7,238,000. We currently intend to use the cash proceeds from any Warrant
      exercise for working capital and general corporate purposes.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"><a name="DETERMINATIONOFOFFERINGPR"><!--Anchor--></a>DETERMINATION OF OFFERING PRICE</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our common stock is listed on the Nasdaq Capital Market under the symbol &#8220;AMRH&#8221;.&#160; The actual offering price by the selling security holders of the
      shares of Common Stock covered by this prospectus will be determined by prevailing market prices at the time of sale, by private transactions negotiated by the selling security holders or as otherwise described in the section entitled &#8220;Plan of
      Distribution.&#8221;</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">32</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"><a name="MARKETPRICEOFCOMMONSTOCKA"><!--Anchor--></a>MARKET PRICE OF COMMON STOCK<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#160;</font>AND










      DIVIDENDS</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Company&#8217;s common stock is currently listed on the Nasdaq Capital Market under the symbol &#8220;AMRH&#8221;.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The following table sets forth for the periods indicated, the reported high and low closing prices per share for our common stock.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 80%" id="z4d5a4ff4c6154a0bb68b19827f837b58">

        <tr>
          <td valign="bottom" style="WIDTH: 56%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px"> &#160; </td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Common Stock </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> &#160; </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 56%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> Period </div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px"> &#160; </td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> High </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px"> &#160; </td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Low </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> &#160; </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 56%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> 2017: </div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom"> &#160; </td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom"> &#160; </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom"> &#160; </td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom"> &#160; </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left"> &#160; </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 56%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt"> First Quarter </div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 6.55 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 6.51 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> &#160; </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 56%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt"> Second Quarter </div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 9.00 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 6.51 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> &#160; </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 56%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt"> Third Quarter </div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 9.00 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 6.50 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> &#160; </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 56%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt"> Fourth Quarter </div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 8.70 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 1.39 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> &#160; </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 56%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> 2018: </div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> &#160; </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 56%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt"> First Quarter </div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 5.88 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 1.61 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> &#160; </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 56%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt"> Second Quarter </div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 1.62 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 0.78 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> &#160; </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 56%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt"> Third Quarter (through September 24, 2018) </div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 1.77 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> &#160; </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> $ </div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> 1.11 </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> &#160; </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On August 20, 2018, the last reported sale price of our common stock on the Nasdaq Capital Market was $1.53 per share. As of August 20, 2018, we had
      670 holders of record of our common stock. This figure does not reflect the beneficial ownership or shares held in nominee name.</div>
    <div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> <br>
      </div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> Description of Our Common Stock </div>
      <div style="text-align: left;"> <font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">&#160;</font> </div>
      <div style="text-align: justify; text-indent: 36pt;"> <font style="font-size: 10pt; font-family: 'Times New Roman';">Holders of our common stock are entitled to one vote per share on all matters on which stockholders may vote at all stockholder
            meetings. Our Certificate of Incorporation does not provide for cumulative voting. Holders of our common stock are entitled to receive ratably such dividends, if any, as may be declared by our Board out of legally available funds. However, the
            current policy of our Board is to retain earnings, if any, for the operation and expansion of the company. Upon liquidation, dissolution or winding-up, the holders of our common stock are entitled to share ratably in all of our assets which are
            legally available for distribution. The holders of our common stock have no preemptive, subscription, redemption or conversion rights.</font> </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"> <br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Dividend Policy</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Company has not paid any dividends on its common stock to date. It is the present intention of the Company to retain any earnings for use in its
      business operations and, accordingly, the Company does not anticipate the board of directors declaring any dividends in the foreseeable future on our common stock. In addition, certain of our loan agreements restrict the payment of dividends and the
      terms of our Series A Preferred Stock may from time to time prevent us from paying cash dividends on our common stock.</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">33</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center"><a name="PRINCIPALANDSELLINGSTOCKH"><!--Anchor--></a><font style="FONT-WEIGHT: bold">PRINCIPAL AND SELLING STOCKHOLDERS</font></div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The common stock being offered by the selling stockholders are those previously issued to the selling stockholders, and those issuable to the selling
      stockholders, upon exercise of the warrants. For additional information regarding the issuances of those shares of common stock and warrants, see &#8220;Prospectus Summary&#8212;Private Placement&#8221; above. We are registering the shares of common stock in order to
      permit the selling stockholders to offer the shares for resale from time to time. Except for the ownership of the shares of Common Stock and the Warrants, and the Company&#8217;s engagement of AGP as placement agent for the Private Placement, the selling
      stockholders have not had any material relationship with us within the past three years.&#160; Under the terms of the Warrants, a selling stockholder may not exercise the Warrants to the extent such exercise would cause such selling stockholder, together
      with its affiliates and attribution parties, to beneficially own a number of shares of common stock which would exceed 4.99% or 9.99%, as applicable, of our then outstanding common stock following such exercise, excluding for purposes of such
      determination shares of common stock issuable upon exercise of the Warrants which have not been exercised. The numbers of shares in the table below do not reflect this limitation. The selling stockholders may sell all, some or none of their shares in
      this offering. See &#8220;Plan of Distribution.&#8221;</div>
    <div><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The following table sets forth certain information available to us with respect to the beneficial ownership of our common stock as of August 20,
        2018, and as adjusted to reflect the sale of our common stock offered by the selling stockholders in this offering, assuming no adjustment and full adjustment of the per share purchase price of the Common Stock and the per share exercise price of
        the Warrants, and the issuance of additional shares of common stock as a result of such adjustments (the &#8220;Adjustments&#8221;), by:</div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z6c212d89b1cc4992b8eef300d8bf35e6">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">each person, or group of affiliated persons, known by us to beneficially own more than 5% of any class of our voting securities;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left; MARGIN-LEFT: 31.5pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -31.5pt"><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z4fc0577bf8f54983b74edd1804bcd898">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">each of our directors;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left; MARGIN-LEFT: 31.5pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -31.5pt"><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="ze6512d967451499fad26a07f85a479cb">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">each of our named executive officers;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left; MARGIN-LEFT: 31.5pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -31.5pt"><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zc7ca4d7a0806490695908035769f4a56">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">all of our current executive officers and directors as a group; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left; MARGIN-LEFT: 31.5pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -31.5pt"><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z3731a6d75f1a452d8fe5932ad3db0583">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">each selling stockholder</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The table lists applicable percentage ownership based on 22,873,447 shares of common stock outstanding as of August 20, 2018. Options and warrants to
        purchase shares of our common stock that are exercisable within 60 days of August 20, 2018, are deemed to be beneficially owned by the persons holding these options for the purpose of computing percentage ownership of that person, but are not
        treated as outstanding for the purpose of computing any other person&#8217;s ownership percentage</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Beneficial ownership is determined in accordance with the rules of the SEC and generally includes voting or investment power with respect to
        securities. Except as noted by footnote, and subject to community property laws where applicable, we believe, based on the information provided to us, that the persons and entities named in the table below have sole voting and investment power with
        respect to all shares of common stock shown as beneficially owned by them.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We have based the percentage ownership of our common stock after this offering assuming no Adjustments are made to the per share purchase price of
        the Common Stock and the per share exercise price of the Warrants, on 22,873,447 shares of our common stock outstanding as of August 20, 2018, assuming full exercise of the Warrants and Placement Agent Warrants on a cash basis and assuming the sale
        by the selling stockholders in this offering of 5,500,000 Common Stock shares and 4,550,000 shares of our common stock upon exercise of Warrants and the Placement Agent Warrants.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We have based the percentage ownership of our common stock after this offering assuming full Adjustments are made to the per share purchase price of
        the Common Stock and the per share exercise price of the Warrants, and the issuance of additional shares of common stock as a result of such Adjustments, on 22,873,447 shares of our common stock outstanding as of August 20, 2018, assuming full
        exercise of the Warrants and Placement Agent Warrants on a cash basis and assuming the sale by the selling stockholders in this offering of 22,758,621 Common Stock shares and 18,356,897 shares of our common stock upon exercise of Warrants and
        Placement Agent Warrants.</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">34</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
          <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 18pt">Except as otherwise noted below, the address for each person or entity listed in the table is c/o Ameri Holdings, Inc., 5000 Research Court, Suite
        750, Suwanee, Georgia 30024.</div>
    </div>
    <div style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"><br>
      &#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" id="z9f5abf290e8a45359c97a33ac7104896">

        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Shares Beneficially</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Owned Prior to the</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Offering</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Number of</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Shares</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Offered if</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">No</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Adjustments</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Shares Beneficially</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Owned After the</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Offering if No</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Adjustments are</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Made</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Number of</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Shares</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Offered if</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Full</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Adjustments</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Shares Beneficially</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Owned After the</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Offering if Full</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Adjustments are</div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Made</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Name and Address of Beneficial Owner</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Number</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Percentage</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">are Made</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Number</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Percentage</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">are Made</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Number</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Percentage</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">5% or Greater Stockholders</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: top">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: bottom">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Lone Star Value Management, LLC<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2,296,842</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">9.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2,296,842</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">7.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2,296,842</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">3.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Dhruwa N. Rai<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">1,164,713</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">5.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">1,164,713</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">4.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">1,164,713</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">1.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Giri Devanur<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">1,799,110</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">7.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">1,799,110</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">1,799,110</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">3.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Anson Investments Master Fund LP<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)+</sup></div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2,999,999</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">12.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2,999,999</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">12,412,848</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Hudson Bay Master Fund Ltd.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(5)+</sup></div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">3,000,001</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">12.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">3,000,001</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">12,412,856</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
        </tr>
        <tr>
          <td style="WIDTH: 28%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)+</sup></div>
          </td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">3,000,001</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">12.1</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">3,000,001</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">12,412,856</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Directors and Named Executive Officers</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Srinidhi &#8220;Dev&#8221; Devanur</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6,276,375</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">27.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6,276,375</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">21.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6,276,375</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">10.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Dimitrios J. Angelis<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">65,990</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">65,990</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">65,990</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Viraj Patel<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(8)</sup></div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">25,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">25,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">25,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Brent Kelton</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">93,176</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">93,176</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">93,176</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">David Luci<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(9)</sup></div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">40,574</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">40,574</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">40,574</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Robert Shawah</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">James Shad</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
        </tr>
        <tr>
          <td style="WIDTH: 28%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">All current executive officers and directors as a group (7 persons)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)(8)(9)</sup></div>
          </td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6,501,115</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">28.3</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6,501,115</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">22.6</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6,501,115</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td style="WIDTH: 6%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">10.8</div>
          </td>
          <td nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Additional Selling Stockholders</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">A.G.P. / Alliance Global Partners<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(10)+</sup></div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">150,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">150,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">150,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">RD Data Solutions, LLC<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(11)+</sup></div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">900,750</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">3.79</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">%</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">900,750</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">3,726,958</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 6%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
        </tr>

    </table>
    <div style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="ze28642882a014752894af659cba26467">

          <tr>
            <td style="WIDTH: 18pt">&#160;</td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">*</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">Represents beneficial ownership of less than 1%.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z79861d0ee82d48dba65a6f63f74fdec4">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">+</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">Represents a selling stockholder.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z8653183c4625462ead27ce823f141ee3">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">Includes (A) 1,100,000 shares of common stock reserved for issuance upon the exercise of warrants, held of record by Lone Star Value Investors, LP
                (&#8220;LSVI&#8221;) and (B) 1,196,842 shares of common stock held of record by Jeffrey E. Eberwein. Lone Star Value Investors GP, LLC (&#8220;Lone Star Value GP&#8221;), the general partner of LSVI and Lone Star Value Management, the investment manager of LSVI,
                may be deemed to beneficially own the 1,113,910 shares held by LSVI. Jeffrey E. Eberwein as the managing member of Lone Star Value GP may be deemed to beneficially own the 1,113,910 shares held by LSVI. Mr. Eberwein disclaims beneficial
                ownership of such shares except to the extent of his pecuniary interest therein. The address of Mr. Eberwein, LSVI, Lone Star Value GP and Lone Star Value Management is 53 Forest Avenue, 1st Floor, Old Greenwich, CT 06870.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z428063725094453fa6a8b523d0fba010">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(2)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">Consists of 1,164,713 shares of common stock and 357,143 shares of common stock issuable upon the conversion of a $1,000,000 convertible promissory
                note with a conversion price of $2.80 per share.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z1f636d32ff61466ebd66aa3846ac183e">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(3)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">Consists of 1,761,989 shares of common stock and 37,121 shares of common stock issuable upon the exercise of warrants that are currently exercisable.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z0817527052484995947aa8f8f1cff775">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(4)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">The ownership of Anson Investments Master Fund LP (&#8220;Anson&#8221;) is subject to a 9.99% ownership blocker, pursuant to which shares of our common stock may
                not be issued, whether pursuant to the Initial Securities Purchase Agreement or Warrants, to the extent such issuance would cause Anson to beneficially own more than 9.99% of our outstanding common stock.&#160; The share ownership numbers and
                percentages for Anson in the table above do not reflect this 9.99% blocker.&#160; Pursuant to a Schedule 13G filed by Anson on August 9, 2018, Anson reported beneficial ownership of 2,501,773 shares of Common Stock held. That amount consists of
                (i) 1,250,000 shares of Common Stock and (ii) 1,251,773 shares of Common Stock receivable by Anson upon conversion of 1,251,773 presently held Warrants. To the extent the our stockholders approve the issuance of more than 20% of our
                outstanding shares of common stock in connection with the Private Placement, the number of shares of our common stock that will become issuable to Anson Investments Master Fund LP will increase.&#160; Anson Advisors Inc. and Anson Funds
                Management LP, the co-investment advisers of Anson Investments Master Fund LP, hold voting and dispositive power over the shares held by Anson. Bruce Winson is the managing member of Anson Management GP LLC, which is the general partner of
                Anson Funds Management LP. Moez Kassam and Amin Nathoo are directors of Anson Advisors Inc. Mr. Winson, Mr. Kassam and Mr. Nathoo each disclaim beneficial ownership of these shares except to the extent of their pecuniary interest therein.
                The principal business address of Anson is 190 Elgin Ave., George Town, Grand Cayman.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">35</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z00104120811d4acd97044d8d7835d3bc">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(5)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">The ownership of Hudson Bay Master Fund Ltd. is subject to a 9.99% ownership blocker, pursuant to which shares of our common stock may not be issued,
                whether pursuant to the Initial Securities Purchase Agreement or Warrants, to the extent such issuance would cause Hudson Bay Master Fund Ltd. to beneficially own more than 9.99% of our outstanding common stock.&#160; The share ownership numbers
                and percentages for Hudson Bay Master Fund Ltd. in the table above do not reflect this 9.99% blocker.&#160; As of August 20, 2018, Hudson Bay Master Fund Ltd. owns 1,000,000 outstanding shares of our common stock and Warrants to purchase
                2,000,001 shares of our common stock without giving effect to any Adjustment.&#160; To the extent the our stockholders approve the issuance of more than 20% of our outstanding shares of common stock in connection with the Private Placement, the
                number of shares of our common stock that will become issuable to Hudson Bay Master Fund Ltd. will increase. Hudson Bay Capital Management, L.P., the investment manager of Hudson Bay Master Fund Ltd., has voting and investment power over
                these securities. Sander Gerber is the managing member of Hudson Bay Capital GP LLC, which is the general partner of Hudson Bay Capital Management, L.P. Each of Hudson Bay Master Fund Ltd. and Sander Gerber disclaims beneficial ownership
                over these securities.&#160; The principal business address of Hudson Bay Master Fund Ltd. is c/o Hudson Bay Capital Management LP, 777 Third Avenue, 30th Floor, New York, NY 10017.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zdfb9c440a90b491ba2b003a006a8d3eb">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(6)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">The ownership of Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B is subject to a 4.99% ownership blocker, pursuant to which shares
                of our common stock may not be issued, whether pursuant to the Initial Securities Purchase Agreement or Warrants, to the extent such issuance would cause Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B to beneficially own
                more than 4.99% of our outstanding common stock.&#160; The share ownership numbers and percentages for Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B in the table above do not reflect this 4.99% blocker.&#160; As of August 20,
                2018, Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B owns 1,000,000 outstanding shares of our common stock and Warrants to purchase 2,000,001 shares of our common stock without giving effect to any Adjustment.&#160; To the
                extent the our stockholders approve the issuance of more than 20% of our outstanding shares of common stock in connection with the Private Placement, the number of shares of our common stock that will become issuable to Alto Opportunity
                Master Fund, SPC - Segregated Master Portfolio B will increase.&#160; Ayrton Capital LLC, the investment manager to Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B, has discretionary authority to vote and dispose of the shares
                held by Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B and may be deemed to be the beneficial owner of these shares. Waqas Khatri, in his capacity as Managing Member of Ayrton Capital LLC, may also be deemed to have
                investment discretion and voting power over the shares held by Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B. Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B and Mr. Khatri each disclaim any beneficial
                ownership of these shares. The address of Ayrton Capital LLC is 222 Broadway, 19th Floor, New York, NY 10038.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z47e67317fa184ac1983dac0269d7392a">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(7)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">Consists of 40,990 shares of common stock and 25,000 shares of common stock issuable upon exercise of options exercisable within 60 days.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z1be1d37a718e4894b7066e766ce75110">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(8)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">Consists of 25,000 shares of common stock issuable upon exercise of options exercisable within 60 days.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zff88396f91174adbb1a585b8b4d17427">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(9)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">Consists of 2,430 shares of common stock, 2,430 shares of common stock issuable upon the exercise of warrants that are currently exercisable and
                35,714 shares of common stock issuable upon the conversion of a $100,000 convertible promissory note with a conversion price of $2.80 per share.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">36</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z8dcc99facc444236a949a5ba434f40d1">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(10)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Consists of 150,000 shares of common stock issuable upon the exercise of warrants that are exercisable within 60 days.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zd649b005861148b3bd8fed6c897d1a1d">

          <tr>
            <td style="WIDTH: 18pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(11)</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">The ownership of RD Data Solutions, LLC is subject to a 4.99% ownership blocker, pursuant to which shares of our common stock may not be issued,
                whether pursuant to the Second Securities Purchase Agreements or Warrants, to the extent such issuance would cause RD Data Solutions, LLC to beneficially own more than 4.99% of our outstanding common stock.&#160; The share ownership numbers and
                percentages for RD Data Solutions, LLC in the table above do not reflect this 4.99% blocker.&#160; As of August 20, 2018, RD Data Solutions, LLC owns Warrants to purchase 900,750 shares of our common stock, subject to stockholder approval.&#160; To
                the extent the NASDAQ 20% Issuance Proposal is approved, the number of shares of our common stock that will become issuable to RD Data Solutions, LLC will increase as described above in this proxy statement. Reuben D&#8217;Souza, the Chief
                Executive Officer and member of RD Data Solutions, LLC, has voting and investment power over these securities. Each of RD Data Solutions, LLC and Reuben D&#8217;Souza disclaims beneficial ownership over these securities.&#160; The principal business
                address of RD Data Solutions, LLC is c2608 Avalon Drive, Lewisville, TX 75056.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">37</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center"><a name="PLANOFDISTRIBUTION"><!--Anchor--></a><font style="FONT-WEIGHT: bold">PLAN OF DISTRIBUTION</font></div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Each selling stockholder of the securities and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all of
      their securities covered hereby on the Nasdaq Capital Market or any other stock exchange, market or trading facility on which the securities are traded or in private transactions. These sales may be at fixed or negotiated prices. A selling
      stockholder may use any one or more of the following methods when selling securities:</div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z6ff215acd2f14fe59b11d762f6cf0ba2">

          <tr>
            <td style="WIDTH: 54pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">&#160;</div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z6acd8435a6a840e298497b47774ea740">

          <tr>
            <td style="WIDTH: 54pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">block trades in which the broker-dealer will attempt to sell the securities as agent but may position and resell a portion of the block as principal
                to facilitate the transaction;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">&#160;</div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z1db3d6c07969461ca004a3bc8e75ce41">

          <tr>
            <td style="WIDTH: 54pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">purchases by a broker-dealer as principal and resale by the broker-dealer for its account;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">&#160;</div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="ze0ba8c92581d4577806f2b5f0a1266dc">

          <tr>
            <td style="WIDTH: 54pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">an exchange distribution in accordance with the rules of the applicable exchange;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">&#160;</div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z985b1f2108d1465686940446f7b55402">

          <tr>
            <td style="WIDTH: 54pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">privately negotiated transactions;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">&#160;</div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zee5aafba62ce43d8a1165d83f25cb1dd">

          <tr>
            <td style="WIDTH: 54pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">settlement of short sales;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">&#160;</div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zaac788805ed4413c8e54444814f4de3b">

          <tr>
            <td style="WIDTH: 54pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">in transactions through broker-dealers that agree with the selling stockholders to sell a specified number of such securities at a stipulated price
                per security;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">&#160;</div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zaa6e348d474e44038f41e76272efb4df">

          <tr>
            <td style="WIDTH: 54pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">&#160;</div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="ze79aa88518a6433eab43f3db219a357e">

          <tr>
            <td style="WIDTH: 54pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">a combination of any such methods of sale; or</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left">&#160;</div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z39bf368a48c84844a675e1787c8b17b9">

          <tr>
            <td style="WIDTH: 54pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">any other method permitted pursuant to applicable law.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The selling stockholders may also sell securities under Rule 144 or any other exemption from registration under the Securities Act, if available,
      rather than under this prospectus.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Broker-dealers engaged by the selling stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive
      commissions or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser) in amounts to be negotiated, but, except as set forth in a supplement to this prospectus, in the case
      of an agency transaction not in excess of a customary brokerage commission in compliance with FINRA Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with FINRA IM-2440.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In connection with the sale of the securities or interests therein, the selling stockholders may enter into hedging transactions with broker-dealers or
      other financial institutions, which may in turn engage in short sales of the securities in the course of hedging the positions they assume. The selling stockholders may also sell securities short and deliver these securities to close out their short
      positions, or loan or pledge the securities to broker-dealers that in turn may sell these securities. The selling stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or create one or more
      derivative securities which require the delivery to such broker-dealer or other financial institution of securities offered by this prospectus, which securities such broker-dealer or other financial institution may resell pursuant to this prospectus
      (as supplemented or amended to reflect such transaction).</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The selling stockholders and any broker-dealers or agents that are involved in selling the securities may be deemed to be &#8220;underwriters&#8221; within the
      meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or
      discounts under the Securities Act. Each selling stockholder has informed the Company that it does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute the securities.</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">38</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Company is required to pay certain fees and expenses incurred by the Company incident to the registration of the securities. The Company has agreed
      to indemnify the selling stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We agreed to keep this prospectus effective until the earlier of (i) the date on which the securities may be resold by the selling stockholders without
      registration and without regard to any volume or manner-of-sale limitations by reason of Rule 144, without the requirement for the Company to be in compliance with the current public information under Rule 144 under the Securities Act or any other
      rule of similar effect or (ii) all of the securities have been sold pursuant to this prospectus or Rule 144 under the Securities Act or any other rule of similar effect. The resale securities will be sold only through registered or licensed brokers
      or dealers if required under applicable state securities laws. In addition, in certain states, the resale securities covered hereby may not be sold unless they have been registered or qualified for sale in the applicable state or an exemption from
      the registration or qualification requirement is available and is complied with.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Under applicable rules and regulations under the Exchange Act, any person engaged in the distribution of the resale securities may not simultaneously
      engage in market making activities with respect to the common stock for the applicable restricted period, as defined in Regulation M, prior to the commencement of the distribution. In addition, the Selling Stockholders will be subject to applicable
      provisions of the Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of the common stock by the selling stockholders or any other person. We will make copies of this
      prospectus available to the selling stockholders and have informed them of the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale (including by compliance with Rule 172 under the Securities Act).</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">39</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"><a name="LEGALMATTERS"><!--Anchor--></a>LEGAL MATTERS</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The validity of the securities offered hereby will be passed upon for us by Olshan Frome Wolosky LLP of New York, New York. Certain members of Olshan
      Frome Wolosky LLP own securities of the Company.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"><a name="EXPERTS"><!--Anchor--></a>EXPERTS</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our audited condensed consolidated financial statements as of December 31, 2017 and 2016 and for the years then ended are included herein in reliance
      on the reports of Ram Associates, an independent registered public accounting firm, on the authority of said firm as experts in auditing and accounting.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"><a name="WHEREYOUCANFINDMOREINFORM"><!--Anchor--></a>WHERE YOU CAN FIND MORE INFORMATION</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We have filed with the SEC a registration statement on Form S-1 under the Securities Act, with respect to the securities being offered by this
      prospectus. This prospectus does not contain all of the information in the registration statement and its exhibits. For further information with respect to us and the securities offered by this prospectus, we refer you to the registration statement
      and its exhibits. Statements contained in this prospectus as to the contents of any contract or any other document referred to are not necessarily complete, and in each instance, we refer you to the copy of the contract or other document filed as an
      exhibit to the registration statement. Each of these statements is qualified in all respects by this reference.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">You can read our SEC filings, including the registration statement, over the Internet at the SEC&#8217;s website at www.sec.gov. You may also read and copy
      any document we file with the SEC at its public reference facilities at 100 F Street NE, Room 1580 Washington, D.C. 20549. You may also obtain copies of these documents at prescribed rates by writing to the Public Reference Section of the SEC at 100
      F Street NE, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on the operation of the public reference facilities. You may also request a copy of these filings, at no cost, by writing us at Ameri Holdings, Inc.,
      Attention: Corporate Secretary, 5000 Research Court, Suite 750, Suwanee, Georgia 30024 or telephoning us at (770) 935-4152.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We are subject to the information reporting requirements of the Exchange Act, and we will file reports, proxy statements and other information with the
      SEC. These reports, proxy statements and other information are available for inspection and copying at the public reference room and website of the SEC referred to above. We also maintain a website at www.ameri100.com, at which you may access these
      materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. The information contained in, or that can be accessed through, our website is not incorporated by reference in, and is not
      part of, this prospectus.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center"><a name="INCORPORATIONOFINFORMATIO"><!--Anchor--></a>INCORPORATION OF INFORMATION BY REFERENCE</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The SEC allows us to &#8220;incorporate by reference&#8221; the information we file with it, which means that we can disclose important information to you by
      referring you to those documents. The information we incorporate by reference is an important part of this prospectus. Information in this prospectus supersedes information incorporated by reference that we filed with the SEC prior to the date of
      this prospectus. We incorporate by reference into this prospectus and the registration statement of which this prospectus is a part the information or documents listed below that we have filed with the SEC (File No. 001-38286):</div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z98e496b018ca461a9c1237042a122ce1">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right"> &#183; </td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> our Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on April 2, 2018, and the amendment thereto on Form 10-K/A filed
                    with the SEC on April 30, 2018; </div>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zcb5e99e8ab4d412db0574da5882dd8de">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">our Quarterly Reports on Form 10-Q for the periods ended March 31, 2018 and June 30, 2018, filed with the SEC on May 15, 2018 and August 14, 2018, respectively;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zd8c45b784c4342239a445f07a8a122a2">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right"> &#183; </td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> our Current Reports on Form 8-K filed with the SEC on January 18, 2018, January 24, 2018, February 14, 2018, March 2, 2018, May 11, 2018, June 26, 2018,
                    July 13, 2018, July 30, 2018, August 17, 2018, August 22, 2018 and August 31, 2018; </div>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">40</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z52da8df1c82749998203a2fe6c536a96">

          <tr style="VERTICAL-ALIGN: top">
            <td style="WIDTH: 36pt"></td>
            <td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: justify">&#183;</div>
            </td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">our definitive Proxy Statement on Schedule 14A filed with the SEC on July 16, 2018;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z7a1f3161669a49cb896064a108e7455e">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right"> &#183; </td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> our definitive Proxy Statement on Schedule 14A filed with the SEC on August 22, 2018; and </div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: justify">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zf5094039fceb4e7d89f9ed8bb4aae7a7">

          <tr>
            <td style="WIDTH: 36pt"></td>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">the description of our Series A Preferred Stock contained in our Definitive Proxy Statement on Schedule 14A filed with the SEC on July 16, 2018.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Additionally, all reports and other documents subsequently filed by us pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after (i)
      the date of the initial registration statement and prior to effectiveness of the registration statement; and (ii) the date of this prospectus and prior to the termination or completion of this offering, shall be deemed to be incorporated by reference
      in this prospectus and to be part hereof from the date of filing of such reports and other documents. Any information that we subsequently file with the SEC that is incorporated by reference as described above will automatically update and supersede
      any previous information that is part of this prospectus.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Notwithstanding the statements in the preceding paragraphs, no document, report or exhibit (or portion of any of the foregoing) or any other
      information that was furnished and deemed by the rules of the SEC not to have been filed shall be incorporated by reference into this prospectus.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We will furnish without charge to you, on written or oral request, a copy of any or all of the documents incorporated by reference in this prospectus
      but not delivered with this prospectus, including exhibits that are specifically incorporated by reference in that information. You should direct any requests for documents to Ameri Holdings, Inc., Attn: Corporate Secretary, 5000 Research Court,
      Suite 750, Suwanee, Georgia 30024.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">You also may access these filings on our website at www.ameri100.com. We do not incorporate the information on our website into this prospectus or any
      supplement to this prospectus and you should not consider any information on, or that can be accessed through, our website as part of this prospectus or any supplement to this prospectus (other than those filings with the SEC that we specifically
      incorporate by reference into this prospectus or any supplement to this prospectus).</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">41</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
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      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <!--PROfilePageNumberReset%Num%1%II-%%-->
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">PART II - INFORMATION NOT REQUIRED IN PROSPECTUS</div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z1c98b38f3f964d83a8151a22069cc3c5">

          <tr>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 54pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">Item 13.</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The following table sets forth the costs and expenses payable by the registrant in connection with this offering.&#160; All of the amounts shown are
      estimates except the Securities and Exchange Commission (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">SEC</font>&#8221;) registration fee.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" id="z8f4ae88a4d7544e887911b0faeb3408a">

        <tr>
          <td valign="bottom" style="WIDTH: 88%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">SEC Registration Fee</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">$</div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">7,832</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 88%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Legal Fees and Expenses</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">25,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 88%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Accounting Fees and Expenses</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">10,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 88%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Other</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">15,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="WIDTH: 88%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Total</div>
          </td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&#160;</td>
          <td valign="bottom" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">$</div>
          </td>
          <td valign="bottom" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">57,832</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
        </tr>

    </table>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;</div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We will bear all costs, expenses and fees in connection with the registration of these shares, including with regard to compliance with state
      securities or &#8220;blue sky&#8221; laws.&#160; The selling security holder, however, will bear all commissions and discounts, if any, attributable to its sale of securities.</div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z1b2b7e4c4c0c477b92cde5699cbb83cd">

          <tr>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 54pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">Item 14.</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">INDEMNIFICATION OF DIRECTORS AND OFFICERS</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our Certificate of Incorporation provides that, to the fullest extent permitted by the Delaware General Corporation Law, our directors shall not be
      personally liable to us or our stockholders for monetary damages for breach of fiduciary duty as a director. Our Bylaws provide that, to the fullest extent permitted by Delaware law, we will indemnify, and advance expenses to, a director or officer
      in an action brought by reason of the fact that the director or officer is or was our director or officer, or is or was serving at our request as a director or officer of any other entity, against all expenses, liability and loss reasonably incurred
      or suffered by such person in connection therewith. We may maintain insurance to protect a director or officer against any expense, liability or loss, whether or not we would have the power to indemnify such person against such expense, liability or
      loss under Delaware law.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The limitation of liability and indemnification provisions in our Certificate of Incorporation and Bylaws may discourage stockholders from bringing a
      lawsuit against directors for breach of their fiduciary duty. These provisions may also have the effect of reducing the likelihood of derivative litigation against our directors and officers, even though such an action, if successful, might otherwise
      benefit us and our stockholders. However, these provisions do not limit or eliminate our rights, or those of any stockholder, to seek non-monetary relief such as injunction or rescission in the event of a breach of a director&#8217;s duty of care. The
      provisions will not alter the liability of directors under the federal securities laws. In addition, your investment may be adversely affected to the extent that, in a class action or direct suit, we pay the costs of settlement and damage awards
      against directors and officers pursuant to these indemnification provisions. There is currently no pending litigation or proceeding against any of our directors, officers or employees for which indemnification is sought.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Indemnification Agreements</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We have entered into indemnification agreements with each of our directors and executive officers. Each indemnification agreement provides that,
      subject to limited exceptions, and among other things, we will indemnify the director or executive officer to the fullest extent permitted by law for claims arising in his or her capacity as our director or officer.</div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="z1b90d6cce545487bba8861e38c1a1b82">

          <tr>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 54pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">Item 15.</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">RECENT SALES OF UNREGISTERED SECURITIES</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">During the past two years, we sold the following securities without registration under the Securities Act:</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-1</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
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      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">2016 Issuances</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On April 20, 2016, we entered into a Stock Purchase Agreement with Dhruwa N. Rai, an investor identified by the Company and who subsequently served
        as a director of the Company from May 10, 2016 to February 12, 2018, pursuant to which Mr. Rai purchased 500,000 restricted shares of our common stock from us at a price per share of $6.00 for aggregate consideration to us of $3,000,000.&#160; Mr. Rai <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">made representations to us regarding his knowledge and experience, ability to bear economic risk and investment purpose with respect to the restricted shares he
          purchased.</font></div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On June 23, 2016, we entered into a definitive agreement to purchase Bigtech. The acquisition of Bigtech was effective as of July 1, 2016, and as
        part of the consideration paid for the acquisition, we delivered to Bigtech&#8217;s two former shareholders and officers warrants for the purchase of an aggregate 51,000 restricted shares of our common stock.&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY:
          'Times New Roman'; BACKGROUND-COLOR: #ffffff">Pursuant to the terms of the warrants, the former Bigtech shareholders acknowledged that the warrants represented unregistered securities that may not be sold or offered except pursuant to an
          effective registration statement and that any shares issued upon exercise of the warrants would be restricted and held for each such former shareholder&#8217;s own account.</font></div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">On July 22, 2016, we issued 101,250 restricted shares of our
          common stock to the former sole member and chief executive officer of Virtuoso as part of the total consideration for the acquisition of Virtuoso .The shares were issued with a value of $6.51 per share.&#160; The former sole member of Virtuoso made
          representations to us regarding his knowledge and experience, ability to bear economic risk and investment purpose with respect to the restricted shares he received.</font></div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On July 29, 2016, we became obligated to issue 1,600,000 restricted shares of our common stock to the three former members and managing partners of
        Ameri Arizona as part of the total consideration for the acquisition of Ameri Arizona.&#160; The restricted shares are to be issued on July 29, 2018 or upon a change of control of the Company (whichever occurs earlier).&#160; <font style="FONT-SIZE: 10pt;
          FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">The former members of Ameri Arizona made representations to us regarding their knowledge and experience, ability to bear economic risk and investment purpose with respect to the
          restricted shares they received.</font></div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">On September 1, 2016, we issued 299,250 restricted shares of
          common stock to Srinidhi &#8220;Dev&#8221; Devanur, our Executive Chairman, in connection with the completion of our acquisition of Ameri India on July 1, 2016, pursuant to the terms of a Stock Purchase Agreement dated May 26, 2015.&#160; </font>Mr. Devanur
        previously <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">made representations to us regarding his knowledge and experience, ability to bear economic risk and investment purpose with respect to the
          restricted shares he acquired.</font></div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On December 30, 2016, the Company entered into the Exchange Agreement with Lone Star Value Investors, LP (&#8220;LSVI&#8221;), pursuant to which a convertible
        note previously issued to LSVI was returned to the Company and cancelled in exchange for 363,611 shares of the Company&#8217;s Series A Preferred Stock, which is non-convertible and perpetual preferred stock of the Company. As a result of the exchange
        transaction, no principal or interest remained outstanding or payable under the LSVI convertible note and the LSVI convertible note was no longer convertible into shares of common stock of the Company.</div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff"><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">2017 Issuances</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On January 27, 2017, the Company issued 33,333 restricted shares of its common stock its legal counsel, Olshan Frome Wolosky LLP (&#8220;Olshan&#8221;), in
        exchange for the cancellation of a portion of accrued and unpaid legal fees owed by the Company to Olshan.&#160; Each of the Olshan partners who received restricted shares is a sophisticated investor with knowledge and experience of financial and
        business matters related to an investment in the Company&#8217;s securities.&#160; In addition, restricted shares bear transfer restrictions and the recipients acquired such securities for their own respective accounts without a view to resell or distribute
        them.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On March 7, 2017, we completed the sale and issuance of an aggregate of $1,250,000 in 8% Convertible Unsecured Promissory Notes (the &#8220;2017 Notes&#8221;) to
        four accredited investors, including one of the Company&#8217;s then-directors, Dhruwa N. Rai, and David Luci, who became a director of the Company in February 2018. The 2017 Notes were issued pursuant to Securities Purchase Agreements with each
        investor, pursuant to which each investor purchased its 2017 Note from the Company. The 2017 Notes will bear interest at 8% per annum until maturity in March 2020, with interest being paid annually on the first, second and third anniversaries of
        the issuance of the 2017 Notes beginning in March 2018. From and after an event of default and for so long as the event of default is continuing, the 2017 Notes will bear default interest at the rate of 10% per annum. The 2017 Notes can be prepaid
        by us at any time without penalty.</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-2</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
          <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify; background-color: rgb(255, 255, 255); text-indent: 36pt;">The 2017 Notes are convertible into shares of our common stock at a conversion price <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; background-color: rgb(255, 255, 255);">equal to $2.80. </font>The 2017 Notes rank junior to our secured credit facility with Sterling National Bank. The 2017 Notes also include
      certain negative covenants including, without the investors&#8217; approval, restrictions on dividends and other restricted payments and reclassification of its stock. <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;
        background-color: rgb(255, 255, 255);">The 2017 Notes purchasers made representations to us regarding their knowledge and experience, ability to bear economic risk and investment purpose with respect to the 2017 Notes they purchased.&#160; Pursuant to
        the terms of the 2017 Notes purchase agreement, the purchasers acknowledged that the 2017 Notes represented unregistered securities that may not be sold or offered except pursuant to an effective registration statement and that any shares issued
        upon conversion of the 2017 Notes would be restricted and held for each holder&#8217;s own account.</font></div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">On March 10, 2017, we issued 576,923 restricted shares of
          our Common Stock to the nine former stockholders of ATCG as part of the total consideration for the acquisition of ATCG. The shares were issued with a value of $6.50 per share. The former stockholders of ATCG made representations to us regarding
          their knowledge and experience, ability to bear economic risk and investment purpose with respect to the restricted shares they received.</font></div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">2018 Issuances</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On January 16, 2018, we issued an aggregate of 238,891 restricted shares of our common stock issued with a value of $2.69 per share, as well as
        89,250 restricted shares of our common stock issued with a value of $2.64 per share, to four former owners of certain of our acquired subsidiaries as payment of earn-outs achieved by them pursuant to the terms of their respective purchase agreement
        (in each of which the former owners previously <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">made representations to us regarding their knowledge and experience, ability to bear economic risk and
          investment purpose with respect to the restricted shares they received).</font></div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On February 8, 2018, we issued 95,000 restricted shares <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">of
          our common stock to the former sole member of Virtuoso as part of the total consideration for the acquisition of Virtuoso. The shares were issued with a value of $2.55 per share. The former sole member of Virtuoso previously made representations
          to us regarding his knowledge and experience, ability to bear economic risk and investment purpose with respect to the restricted shares he received.</font></div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On February 9, 2018, we issued an aggregate of 283,344 restricted shares of our common stock issued with a value of $2.136 per share, to five former
        <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">stockholders of ATCG </font>as payment of an earn-out achieved by them pursuant to the terms of the ATCG purchase agreement<font style="FONT-SIZE: 10pt;
          FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">. The former stockholders of ATCG previously made representations to us regarding their knowledge and experience, ability to bear economic risk and investment purpose with respect to the
          restricted shares they received.</font></div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">On July 5, 2018, we issued an aggregate of 51,000 restricted
          shares of our common stock to the former shareholders of Bigtech upon their exercise of warrants issued to them as part of the total consideration for the acquisition of Bigtech. The warrants were exercised at a price of $0.01 per share. The
          former shareholders of Bigtech previously made representations to us regarding their knowledge and experience, ability to bear economic risk and investment purpose with respect to the restricted shares they received.</font></div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On July 20, 2018, we issued 221,449 restricted shares <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">of
          our common stock to a former member of Ameri Arizona </font>as payment of an earn-out achieved by him pursuant to the terms of the Ameri Arizona purchase agreement<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR:
          #ffffff">. The shares were issued with a value of $1.07 per share. The former member of Ameri Arizona previously made representations to us regarding his knowledge and experience, ability to bear economic risk and investment purpose with respect
          to the restricted shares he received.</font></div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-3</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On July 30, 2018, we issued 560,000 restricted shares of our common stock issued with a value of $2.40 per share, to a former <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">member of Ameri Arizona as part of the total consideration owed to him for the acquisition of Ameri Arizona.&#160; The former member of Ameri Arizona previously made
          representations to us regarding his knowledge and experience, ability to bear economic risk and investment purpose with respect to the restricted shares he received.</font></div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">2018 Private Placement</div>
      <div><br>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">
      <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">On July 25, 2018, we entered into a securities purchase agreement (the &#8220;Initial Securities Purchase Agreement&#8221;) with certain institutional and accredited
        investors (&#8220;Initial Purchasers&#8221;) for the sale of 5,000,000 shares of our common stock (&#8220;Initial Shares&#8221;) and warrants to purchase a total of 4,000,000 shares (&#8220;Initial Warrant Shares&#8221;) of our common stock (&#8220;Initial Purchaser Warrants&#8221;) for total
        consideration of approximately $6,000,000 (&#8220;Initial Investment&#8221;). On July 30, 2018, we issued <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">an aggregate of 3,250,000 of </font>the Initial Shares <font style="font-size:
          10pt; font-family: &quot;Times New Roman&quot;;">to the Initial Purchasers, with the remaining Initial Shares to be issued pursuant to pre-funded Warrants, subject to adjustment</font>.&#160; The $6,000,000 purchase price paid by the Initial
        Purchasers on July 30, 2018 represents the entire purchase price that will be paid by the Initial Purchasers for the Initial Shares and the Initial Purchaser Warrants (excluding the exercise price to be paid upon the exercise of Initial Purchaser
        Warrants), even if additional Shares (through the adjustment of a pre-funded warrant) are issued and additional Warrant Shares become issuable upon the occurrence of certain events described below.</div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;</div>
      <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;">On August 21, 2018, we entered into a second securities purchase agreement (the &#8220;Second Securities Purchase Agreement&#8221;, and together with the Initial
        Securities Purchase Agreement, the &#8220;Purchase Agreements&#8221;) with an accredited investor (the &#8220;Additional Purchaser&#8221;, and with the Initial Purchaser, the &#8220;Purchasers&#8221;) for the sale of approximately 500,000 shares of our common stock, via a pre-funded
        warrant (the &#8220;Additional Shares&#8221;, and with the Initial Shares, the &#8220;Common Stock&#8221;), and warrants to purchase a total approximately 400,000 shares (the &#8220;Additional Warrant Shares&#8221;, and with the Initial Warrant Shares, the &#8220;Warrant Shares&#8221;) of our
        common stock (the &#8220;Additional Purchaser Warrants&#8221;, and with the Initial Purchaser Warrants, the &#8220;Purchaser Warrants&#8221;) for gross proceeds of approximately $600,000 (the &#8220;Additional Investment&#8221;). The Additional Investment was made in connection with,
        and substantially on the same terms and using the same forms as, the private placement of the Initial Shares and Initial Purchaser Warrants (such private placement and the Additional Investment, the &#8220;Private Placement&#8221;).&#160; The $600,000 purchase
        price paid by the Additional Purchaser on August 21, 2018 represents the entire purchase price that will be paid by the Additional Purchaser for the Additional Shares and the Additional Purchaser Warrants (excluding the exercise price to be paid
        upon the exercise of Additional Purchaser Warrants), even if additional Shares (through the adjustment of a pre-funded warrant, all pre-funded warrants with the Purchaser Warrants, the &#8220;Warrants&#8221;) are issued and additional Warrant Shares become
        issuable upon the occurrence of certain events described below. As of August 21, 2018, we had issued an aggregate of 3,250,000 of the shares of Common Stock to the Purchasers, and 2,250,417 shares of Common Stock will be issued pursuant to
        pre-funded Warrants, subject to adjustment.</div>
    </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The initial price per share equaled $1.20 and the initial per share exercise price of the Purchaser Warrants equaled $1.60.&#160; The per share purchase
      price and the exercise price are subject to adjustment as described below.&#160; The Initial Purchaser Warrants are immediately exercisable, subject to ownership limitations described below, and expire five years after the date of issuance.&#160; The Initial
      Purchaser Warrants are exercisable on a cashless basis six months after the issuance date if there is no effective registration statement registering the resale of the shares underlying the Initial Purchaser Warrants. The Additional Purchaser was not
      issued any Shares at the closing of the Additional Investment, due to Nasdaq stock issuance limitations, but the Additional Shares will be issued upon the exercise of a pre-funded warrant for no additional consideration to the Company, subject to
      stockholder approval. The Additional Purchaser Warrants and the Additional Purchaser&#8217;s pre-funded warrant are exercisable following the later of stockholder approval of the Private Placement or the effectiveness of a resale registration statement,
      subject to ownership limitations described below, and expire five years after the date of issuance. The Warrants contain provisions for the adjustment of the number of shares issuable upon the exercise of the warrant and of the exercise price in the
      event of stock dividends, splits, mergers, asset sales, tender or exchange offers, reclassifications, reorganizations or recapitalizations, combinations, or the like.</div>
    <div>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-4</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
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      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The per share purchase price (through the pre-funded Warrants) and Warrant exercise price will automatically be adjusted lower (the &#8220;Price
      Adjustment&#8221;), if applicable, to 80% (with respect to the purchase price of the shares) and 110% (with respect to the exercise price of the Warrants) of the lowest of the average daily prices on the 6 trading days after the date that (i) a
      registration statement covering the resale of the securities being issued in the transaction is declared effective by the SEC and (ii) our stockholders approve the Private Placement transaction. If all the shares issuable pursuant to the Purchase
      Agreements are not included in the registration statement, another similar adjustment to the per share purchase price and Warrant exercise price will occur on the date that such shares may be sold pursuant to Rule 144 under the Securities Act.
      Following any adjustment to the Warrant exercise price, the number of shares that may be issued pursuant to a Warrant will be proportionately increased. In no event will the purchase price or the Warrant exercise price be less than $0.29 per share.
      In addition, the Warrants have transaction-specific anti-dilution provisions.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Under the terms of the Warrants, a selling stockholder may not exercise the Warrants to the extent such exercise would cause such selling stockholder,
      together with its affiliates and attribution parties, to beneficially own a number of shares of common stock which would exceed 4.99% or 9.99%, as applicable, of our then outstanding common stock following such exercise, excluding for purposes of
      such determination shares of common stock issuable upon exercise of the Warrants which have not been exercised.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We must seek stockholder approval for the Private Placement by September 27, 2018. In the event our stockholders do not approve the Private Placement,
      we are required to seek stockholder approval again by November 15, 2018 and then every four months until the transaction is approved or until the Warrants have terminated.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">A.G.P. / Alliance Global Partners (&#8220;AGP&#8221;) acted as exclusive placement agent for the issuance and sale of the securities in the Private Placement. We
      agreed to pay AGP an aggregate fee equal to 7% of the gross proceeds received by us from the sale of the securities in the transaction, plus expenses. We also agreed to grant to AGP or its designees warrants to purchase up to 150,000 shares of our
      common stock (the &#8220;Placement Agent Warrants&#8221;). The Placement Agent Warrants are exercisable on or after the later of (a) the effective date of the Resale Registration Statement (defined below) and (b) the date that stockholder approval is obtained
      and deemed effective. The Placement Agent Warrants terminate on July 27, 2022. The Placement Agent Warrants have an exercise price of $1.32 per share. The terms of the Placement Agent Warrants are otherwise substantially similar to the terms of the
      Private Placement Warrants, except the Placement Agent Warrants have customary anti-dilution provisions and do not have the Price Adjustment mechanism.</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; TEXT-INDENT: 36pt">
      <div style="text-align: justify; text-indent: 36pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> The maximum number of shares of common stock issuable under the Purchase Agreements is 22,758,621 (which includes 2,250,417 shares of
          common stock issuable upon the exercise of pre-funded warrants for shares that could not be issued at the closing of the Private Placement due to share issuance limitations), and the maximum number of shares of common stock issuable under the
          Warrants and the Placement Agent Warrants is 18,356,897; accordingly, the aggregate maximum number of shares of our common stock issuable in connection with the Private Placement is 41,115,518. The maximum number of shares issuable is calculated
          using the minimum price per share of $0.29 with respect to (i) the total number of shares that will become issuable under the Purchase Agreements taking into consideration the pre-funded Warrants that will give effect to the Price Adjustment, and
          (ii) the total number of Warrant Shares that will become issuable upon exercise of the Purchaser Warrants and and the Placement Agent Warrants. </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; TEXT-INDENT: 36pt"> <br>
      </div>
    <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify; text-indent: 36pt;"> We received aggregate gross proceeds of approximately $6,600,000 for the purchase of the Common Stock and the Warrants. The Company will
        not receive any additional consideration in the event the number of Common Stock shares and shares of common stock underlying the Warrants are adjusted. We will, however, receive a maximum of an additional $7,238,000 from the selling stockholders
        if all of the warrants issued in connection with the Private Placement are exercised on a cash basis. </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The foregoing issuances were exempt from registration under Section 4(a)(2) of the Securities Act as sales by an issuer not involving a public
        offering.&#160; None of the foregoing issuances were registered under the Securities Act, or the securities laws of any state, and were offered and sold in reliance on the exemption from registration afforded by Section 4(a)(2) and corresponding
        provisions of state securities laws, which exempts transactions by an issuer not involving any public offering.&#160; In each case, the issuances were made, without any general solicitation or advertising, to a limited number of sophisticated investors
        with knowledge and experience of financial and business matters related to an investment in the Company&#8217;s securities.&#160; In addition, the securities issued in the foregoing issuances were restricted securities bearing transfer restrictions and the
        recipients acquired such securities for their own respective accounts without a view to resell or distribute them. Such securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration
        requirements and certificates evidencing such shares contain a legend stating the same.&#160; Accordingly, the foregoing issuances are subject to the private placement exemption from registration provided by Section 4(a)(2) of the Securities Act.</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-5</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zf5ff4330d8c74b7aa9387e1f89b86a68">

          <tr>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 54pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">Item 16.</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">EXHIBITS AND FINANCIAL STATEMENT SCHEDULES</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">See the Exhibit Index, which follows the signature page and which is incorporated by reference herein.</div>
    <div><br>
    </div>
    <div style="TEXT-ALIGN: left">
      <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" class="DSPFListTable" id="zaa41876a716048a2999f1e99872a08b9">

          <tr>
            <td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 54pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">Item 17.</td>
            <td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">UNDERTAKINGS</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">(a) The undersigned registrant hereby undertakes:</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 18pt">(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">(i) To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
        post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities
        offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the
        Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective
        registration statement.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any
        material change to such information in the registration statement;</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Provided, however, that paragraphs (a)(1)(i), (ii), and (iii) of this section do not apply if the registration statement is on Form S-1, Form S-3,
        Form SF-3 or Form F-3 and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the
        Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or, as to a registration statement on Form S-3, Form SF-3 or Form F-3, is contained in a form of prospectus filed pursuant to Rule 424(b) that is part
        of the registration statement.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 18pt">(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a
        new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 18pt">(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination
        of the offering.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 18pt"> (5)(ii) That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser, each prospectus filed pursuant to Rule
          424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration
          statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed
          incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in
          the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use. </div>
       </div>

    <div style="BACKGROUND-COLOR: #ffffff"> <br>
       </div>

    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 18pt"> (6) That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution
          of the securities: </div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement,
        regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the
        purchaser and will be considered to offer or sell such securities to such purchaser:</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-6</font></div>
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        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the
        undersigned registrant;</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">(iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or
        its securities provided by or on behalf of the undersigned registrant; and</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">(iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&#8217;s
        annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that
        is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide
        offering thereof.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">(c) The undersigned registrant hereby undertakes that:</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">(1) For purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed as part of
        this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b) (1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as
        of the time it was declared effective.</div>
      <div><br>
      </div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">(2) For the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of prospectus
        shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</div>
      <div><br>
      </div>
    </div>
    <div style="BACKGROUND-COLOR: #ffffff">
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">(d) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the
        registrant pursuant to the provisions referenced in Item 14 of this registration statement, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as
        expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer, or controlling person of
        the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel
        the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication
        of such issue.</div>
      <div>&#160;</div>
      <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
        <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-7</font></div>
        <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
          <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
        <div style="WIDTH: 100%" id="DSPFPageHeader">
          <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
        </div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">SIGNATURES</div>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"> Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it
        meets all of the requirements for filing on Form S-1 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of New York, State of New York, on September 25, 2018. </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="z7ac7525d7e7744879fa582304c17f8be">

        <tr>
          <td style="WIDTH: 49.98%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td colspan="2" style="VERTICAL-ALIGN: bottom">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Ameri Holdings, Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 49.98%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td colspan="2" style="VERTICAL-ALIGN: bottom">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(Registrant)</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 49.98%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td style="WIDTH: 8%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">By:</div>
          </td>
          <td style="WIDTH: 42%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">/s/ Brent Kelton</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 49.98%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td style="WIDTH: 8%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Name</div>
          </td>
          <td style="WIDTH: 42%; VERTICAL-ALIGN: bottom">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Brent Kelton</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 49.98%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td style="WIDTH: 8%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Title:</div>
          </td>
          <td style="WIDTH: 42%; VERTICAL-ALIGN: bottom">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Ameri Holdings, Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 49.98%; VERTICAL-ALIGN: bottom">&#160;</td>
          <td style="WIDTH: 8%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 42%; VERTICAL-ALIGN: bottom">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(Principal Executive Officer)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and
      on the dates indicated below.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="zbf4c827486cf4e8c90e36f688e77282b">

        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"> Signature </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"> Title </div>
          </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"> Date </div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> /s/ Brent Kelton </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Chief Executive Officer </div>
          </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> September 25, 2018 </div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Brent Kelton </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> (Principal Executive Officer) </div>
          </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> /s/ Viraj Patel </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Chief Financial Officer </div>
          </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> September 25, 2018 </div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Viraj Patel </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> (Principal Financial Officer and Principal Accounting Officer) </div>
          </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> */s/ David Luci </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Director, Chairman </div>
          </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> September 25, 2018 </div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> David Luci </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> /s/ Srinidhi Devanur </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Director, Executive Vice Chairman </div>
          </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> September 25, 2018 </div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Srinidhi Devanur </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> */s/ James Shad </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Director </div>
          </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> September 25, 2018 </div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> James Shad </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> */s/ Robert Shawah </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Director </div>
          </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> September 25, 2018 </div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Robert Shawah </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> */s/ Dimitrios Angelis </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Director </div>
          </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> September 25, 2018 </div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Dimitrios J. Angelis </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> *By: /s/ Srinidhi Devanur </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> September 25, 2018 </div>
          </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Srinidhi Devanur </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>
        <tr>
          <td style="WIDTH: 33.18%; VERTICAL-ALIGN: top">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"> Attorney-in-Fact </div>
          </td>
          <td style="WIDTH: 2%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 33.42%; VERTICAL-ALIGN: top"> &#160; </td>
          <td style="WIDTH: 32%; VERTICAL-ALIGN: top"> &#160; </td>
        </tr>

    </table>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="BACKGROUND-COLOR: #e8e8ec"></font>&#160;</div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-8</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">EXHIBIT INDEX</div>
    <div></div>
    <div> </div>
    <div> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="z6d477be99e554b15a3d8e091ed47a8ae" style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%; border-collapse: collapse;">

          <tr>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit</div>
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Number</font></div>
            </td>
            <td style="width: 2%; vertical-align: bottom; padding-bottom: 2px;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Description of Exhibits</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2.1</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189515001474/ex21to8k10211004_05262015.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Agreement of Merger and Plan of Reorganization, dated as of May 26, 2015, among Spatializer Audio Laboratories, Inc., Ameri100 Acquisition, Inc. and Ameri &amp; Partners Inc. (filed as Exhibit 2.1 to AMERI
                      Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on May 26, 2015 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2.2</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189515001521/ex103to8k10211004b_05262015.htm"><font style="font-size: 10pt;
                      font-family: 'Times New Roman';">Stock Purchase Agreement by and between Ameri Holdings, Inc. and the shareholders of Ameri Consulting Service Private Limited. (filed as Exhibit 10.3 to Ameri Holdings, Inc.&#8217;s Current Report on Form
                      8-K filed with the SEC on June 1, 2015 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2.3</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000107997415000800/ex2_1.htm"><font style="font-size: 10pt; font-family: 'Times New Roman';">Share


                      Purchase Agreement, dated as of November 20, 2015, by and among Ameri Holdings, Inc., Bellsoft, Inc., and all of the shareholders of Bellsoft (filed as Exhibit 2.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the
                      SEC on November 23, 2015 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2.4</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189516005236/ex21to8k10211002_07272016.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Agreement of Merger and Plan of Reorganization, dated as of July 22, 2016, by and among Ameri Holdings, Inc., Virtuoso Acquisition Inc., Ameri100 Virtuoso Inc., Virtuoso, L.L.C. and the sole member of Virtuoso,
                      L.L.C. (filed as Exhibit 2.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on July 27, 2016 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2.5</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189516005270/ex21to8k10211002_08012016.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Membership Interest Purchase Agreement, dated as of July 29, 2016, by and among Ameri Holdings, Inc., DC&amp;M Partners, L.L.C., all of the members of DCM, Giri Devanur and Srinidhi &#8220;Dev&#8221; Devanur (filed as Exhibit
                      2.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on August 1, 2016 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2.6</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189517000674/ex21to8k10211002_03132017.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Share Purchase Agreement, dated as of March 10, 2017, by and among Ameri Holdings, Inc., ATCG Technology Solutions, Inc., all of the stockholders of ATCG, and the stockholders&#8217; representative (filed as Exhibit 2.1
                      to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on March 13, 2017 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">3.1</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189516004989/ex31to8k10211002_06232016.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Amended and Restated Certificate of Incorporation of Ameri Holdings, Inc. (filed as Exhibit 3.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on June 23, 2016 and incorporated herein by
                      reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">3.2</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189518002375/ex31to8k10211008_08172018.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Amended and Restated Certificate of Designation of Rights and Preferences of 9.00% Series A Cumulative Preferred Stock. (filed as Exhibit 3.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC
                      on August 17, 2018 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">3.3</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189516004989/ex32to8k10211002_06232016.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Amended and Restated Bylaws of Ameri Holdings, Inc. (filed as Exhibit 3.2 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on June 23, 2016 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.1</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189515002813/ex41tos810211002_12172015.pdf"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Form of Certificate Representing Shares of Common Stock of Registrant (filed as Exhibit 4.1 to Ameri Holdings, Inc.&#8217;s Registration Statement on Form S-8 filed with the SEC on December 17, 2015 and incorporated
                      herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.2</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189515001521/ex41to8k10211004b_05262015.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Form of Common Stock Purchase Warrant issued by Ameri Holdings, Inc. to Lone Star Value Investors, LP, dated May 26, 2015 (filed as Exhibit 4.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the
                      SEC on June 1, 2015 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.3</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000107997416001197/ex4_3.htm"><font style="font-size: 10pt; font-family: 'Times New Roman';">Common


                      Stock Purchase Warrant, dated May 12, 2016, issued by Ameri Holdings, Inc. to Lone Star Value Investors, LP, dated May 12, 2016 (filed as Exhibit 4.3 to Ameri Holdings, Inc.&#8217;s Quarterly Report on Form 10-Q filed with the SEC on May
                      16, 2016 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
    </div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-9</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div>&#160;<br>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" id="zf09f5af8fb52406cb89f09de9c752bee" style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%; border-collapse: collapse;">

            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">4.4</div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000107997416001197/ex10_3.htm"><font style="font-size: 10pt; font-family: 'Times New
                        Roman';">Amended and Restated Registration Rights Agreement, dated May 12, 2016, by and between Ameri Holdings, Inc. and Lone Star Value Investors, LP (filed as Exhibit 10.3 to Ameri Holdings, Inc.&#8217;s Quarterly Report on Form 10-Q
                        filed with the SEC on May 16, 2016 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.5</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189517000631/ex102to8k10211002_03072017.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Form of 8% Convertible Unsecured Promissory Note due March 2020 (filed as Exhibit 10.2 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on March 8, 2017 and incorporated herein
                        by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.6</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189517000631/ex103to8k10211002_03072017.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Form of Registration Rights Agreement for 2017 Notes Investors (filed as Exhibit 10.3 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on March 8, 2017 and incorporated herein
                        by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.7</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189517000674/ex101to8k10211002_03132017.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Form of 6% Unsecured Promissory Note (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on March 13, 2017 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.8</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189518002152/ex41to8k10211001_07272018.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Form of Private Placement Warrant (filed as Exhibit 4.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on July 30, 2018 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.9</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189518002152/ex42to8k10211001_07272018.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Form of Placement Agent Warrant (filed as Exhibit 4.2 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on July 30, 2018 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.10</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000119380517003388/e617439_ex4-1.htm"><font style="font-size: 10pt; font-family: 'Times New
                        Roman';">Form of Warrant Agent Agreement (filed as Exhibit 4.1 to Ameri Holdings, Inc.&#8217;s Registration Statement on Form S-1/A (Reg. No. 333-220499) filed with the SEC on November 6, 2017 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">4.11</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189518002375/ex41to8k10211008_08172018.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Warrant Agent Agreement dated August 16, 2018 between Ameri Holdings, Inc. and Corporate Stock Transfer, Inc. (filed as Exhibit 4.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the
                        SEC on August 17, 2018 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"> <font style="font-size: 10pt; font-family: 'Times New Roman';">5.1+</font> </div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"> <font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font> </div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"> <font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000114036118036924/ex5_1.htm"><font style="font-size: 10pt; font-family: 'Times New
                          Roman';">Opinion of Olshan Frome Wolosky LLP.</font></a></font> </div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.1</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189515001521/ex101to8k10211004b_05262015.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Securities Purchase Agreement, dated as of May 26, 2015, by and between Ameri Holdings, Inc. and Lone Star Value Investors, LP. (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form
                        8-K filed with the SEC on June 1, 2015 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.2</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189515001521/ex103to8k10211004b_05262015.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Stock Purchase Agreement by and between Ameri Holdings, Inc. and the shareholders of Ameri Consulting Service Private Limited. (filed as Exhibit 10.3 to Ameri Holdings, Inc.&#8217;s Current Report on Form
                        8-K filed with the SEC on June 1, 2015 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.3</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189515001521/ex104to8k10211004b_05262015.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Employment Agreement, dated as of May 26, 2015, between Giri Devanur and Ameri Holdings, Inc. (filed as Exhibit 10.4 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on June 1,
                        2015 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.4</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189515001521/ex105to8k10211004b_05262015.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Employment Agreement, dated as of May 26, 2015, between Srinidhi &#8220;Dev&#8221; Devanur and Ameri Holdings, Inc. (filed as Exhibit 10.5 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC
                        on June 1, 2015 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.5</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189515001521/ex106to8k10211004b_05262015.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Form of Indemnification Agreement. (filed as Exhibit 10.6 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on June 1, 2015 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.6</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189515001521/ex107to8k10211004b_05262015.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">Form of Option Grant Letter. (filed as Exhibit 10.7 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on June 1, 2015 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.7*</font></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
              </td>
              <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189515001521/ex108to8k10211004b_05262015.htm"><font style="font-size: 10pt;
                        font-family: 'Times New Roman';">2015 Equity Incentive Award Plan. (filed as Exhibit 10.8 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on June 1, 2015 and incorporated herein by reference).</font></a></font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
    </div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-10</font></div>
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      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="z833fdce76ede49dbb7535c84cf71c844" style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%; border-collapse: collapse;">

          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">10.8</div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000107997415000809/ex10_1.htm"><font style="font-size: 10pt; font-family: 'Times New Roman';">Form


                      of Restricted Stock Unit Agreement (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Quarterly Report on Form 8-K filed with the SEC on November 23, 2015 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.9</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189516004188/ex101to8k10211001_04212016.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Securities Purchase Agreement, dated as of April 20, 2016, by and between Ameri Holdings, Inc. and Dhruwa N. Rai (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on
                      April 21, 2016 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.10</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189516005106/ex101to8k10211002_07072016.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Loan and Security Agreement, dated as of July 1, 2016, by and among Ameri and Partners Inc, Bellsoft, Inc., Ameri Holdings, Inc., Linear Logics, Corp., Winhire Inc, Giri Devanur, the lenders which become a party to
                      the Loan and Security Agreement, and Sterling National Bank, N.A. (a lender and as agent for the lenders) (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on July 7, 2016 and incorporated
                      herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.11</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189517000021/ex101to8k10211002_01042017.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Exchange Agreement, dated as of December 30, 2016, between Ameri Holdings, Inc. and Lone Star Value Investors, LP (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on
                      January 4, 2017 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
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            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.12</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189517000631/ex101to8k10211002_03072017.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Form of Securities Purchase Agreement for 2017 Notes Investors (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on March 8, 2017 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
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            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.13</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189517001172/ex101to8k10211002_042517.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Employment Letter, dated April 24, 2016, between Ameri and Partners Inc and Viraj Patel (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on April 25, 2017 and
                      incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.14</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189517002240/ex101to8k10211002_082817.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Consent, Waiver and Amendment No. 7 to Loan and Security Agreement, dated as of August 22, 2017, by and among Ameri Holdings, Inc., certain subsidiaries of Ameri Holdings, Inc., Giri Devanur and Sterling National
                      Bank (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on August 28, 2017 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.15</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189518000812/ex101to8k10211002_03022018.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Amendment to 6% Unsecured Promissory Note and Waiver Agreement, dated February 28, 2018, by and between Ameri Holdings, Inc. and Moneta Ventures Fund I, L.P. (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Current
                      Report on Form 8-K filed with the SEC on March 2, 2018 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.16</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189518002023/ex101to8k10211002_06252018.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Amendment Agreement (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on June 26, 2018 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.17</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189518002152/ex101to8k10211001_07272018.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Private Placement Securities Purchase Agreement dated as of July 25, 2018, by and among AMERI Holdings, Inc. and each purchaser named in the signature pages thereto (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s
                      Current Report on Form 8-K filed with the SEC on July 30, 2018 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.18</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189518002152/ex102to8k10211001_07272018.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">Private Placement Registration Rights Agreement by and among AMERI Holdings, Inc. and each purchaser named in the signature pages thereto (filed as Exhibit 10.2 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K
                      filed with the SEC on July 30, 2018 and incorporated herein by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">10.19*</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000092189518002375/ex101to8k10211008_08172018.htm"><font style="font-size: 10pt; font-family:
                      'Times New Roman';">First Amendment to the Ameri Holdings, Inc. 2015 Equity Incentive Award Plan (filed as Exhibit 10.1 to Ameri Holdings, Inc.&#8217;s Current Report on Form 8-K filed with the SEC on August 17, 2018 and incorporated herein
                      by reference).</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">21.1+</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000114036118036924/ex21_1.htm"><font style="font-size: 10pt; font-family: 'Times New Roman';">List


                      of Subsidiaries.</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">23.1++</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><a href="ex23_1.htm"><font style="font-size: 10pt; font-family: 'Times New Roman';">Consent of Ram
                    Associates.</font></a></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">23.2+</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><a href="http://www.sec.gov/Archives/edgar/data/890821/000114036118036924/ex5_1.htm"><font style="font-size: 10pt; font-family: 'Times New Roman';">Consent


                      of Olshan Frome Wolosky LLP (included in Exhibit 5.1)</font></a></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">24.1+</font></div>
            </td>
            <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
            </td>
            <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><a href="http://www.sec.gov/Archives/edgar/data/890821/000114036118036924/forms1.htm"><font style="font-size: 10pt; font-family: 'Times New Roman';">Power of Attorney</font> (set forth on the signature page to
                  the initial filing of this registration statement)<font style="font-size: 10pt; font-family: 'Times New Roman';">.</font></a></div>
            </td>
          </tr>

      </table>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font></div>
    </div>
    <div> <br>
    </div>
    <div> </div>
    <div style="MARGIN-BOTTOM: 10pt; MARGIN-TOP: 10pt; CLEAR: both" id="DSPFPageBreakArea">
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-11</font></div>
      <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
        <hr noshade="noshade" style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
      <div style="WIDTH: 100%" id="DSPFPageHeader">
        <div style="FONT-SIZE: 8pt; FONT-STYLE: italic"><a href="#TABLEOFCONTENTS">Table of Contents</a></div>
      </div>
    </div>
    <div>* Includes compensatory plan or arrangement.</div>
    <div>&#160;</div>
    <div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">+ Previously filed.</div>
      <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">++ Filed herewith.</div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal" id="DSPFPageNumber">II-12</font></div>
      <hr noshade="noshade" align="center" style="BORDER-TOP: medium none; HEIGHT: 2px; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; COLOR: #000000; TEXT-ALIGN: center; MARGIN-LEFT: auto; BORDER-LEFT: medium none; BACKGROUND-COLOR: #000000;
        MARGIN-RIGHT: auto"> </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>ex23_1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solutions, Inc.
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         Copyright 1995 - 2018 Broadridge -->
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<body text="#000000" bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt;">
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  <div>
    <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit 23.1</div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Ameri Holdings, Inc.</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Suwanee, Georgia</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">We hereby consent to the incorporation by reference in this Registration Statement on Form S-1 of our report dated March 29, 2018, relating
        to the audited condensed consolidated financial statements of Ameri Holdings, Inc. appearing in the Annual Report on Form 10-K of Ameri Holdings, Inc. for the year ended December 31, 2017, and to the reference to us under the heading &#8220;Experts&#8221; in
        the Prospectus, which is part of this Registration Statement.</font></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Ram Associates</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Hamilton, NJ</font></div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">September 25, 2018</font></div>
    <div><br>
    </div>
  </div>
  <div> <br>
  </div>
  <div>
    <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
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<html>
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              <div style="text-align: right;">1325 AVENUE OF THE AMERICAS &#8226; NEW YORK, NEW YORK 10019<br>
              </div>
              <div style="text-align: right;">TELEPHONE: 212.451.2300 &#8226; FACSIMILE: 212.451.2222</div>
            </td>
          </tr>

      </table>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">September 25, 2018</div>
    <div><br>
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    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>VIA EDGAR AND ELECTRONIC MAIL</u></font></font></div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">U.S. Securities and Exchange Commission</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Division of Corporation Finance</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Office of Electronics and Machinery</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">100 F Street, N.E.</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Washington, D.C. 20549</font></div>
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              <td style="width: 36pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Re:</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">Ameri Holdings, Inc.</font></div>
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            <td style="width: 36pt;">&#160;</td>
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              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Registration </font>Statement on Form S-1</font></div>
            </td>
          </tr>

      </table>
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    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z53cc6cadbbfc4bbfac85ad254d24e2b7" style="width: 100%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">

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            <td style="width: 36pt;">&#160;</td>
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            </td>
            <td style="vertical-align: top; width: auto;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Filed August 24, 2018</font></div>
            </td>
          </tr>

      </table>
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            <td style="width: 36pt;">&#160;</td>
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            </td>
            <td style="vertical-align: top; width: auto;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">File No. 333-227011</font></div>
            </td>
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    </div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Ladies and Gentlemen:</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">On behalf of Ameri Holdings, Inc., a Delaware corporation (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Company</u></font>&#8221;),



        we are hereby filing in electronic format through EDGAR with the U.S. Securities and Exchange Commission (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>SEC</u></font>&#8221;), pursuant to the Securities Act of 1933, as amended
        (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Securities Act</u></font>&#8221;), one complete copy of Amendment No. 1 (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Amendment</u></font>&#8221;) to the
        above-referenced Registration Statement on Form S-1 (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Registration Statement</u></font>&#8221;), for the resale of common stock of the Company.</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">This letter also responds to the comments received from the staff of the SEC in its comment letter dated September 18, 2018 with respect to
        the Registration Statement.</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Courtesy copies of this letter and the Amendment, together with all exhibits, are being provided directly to the staff for its convenience
        (attention: Tim Buchmiller) in the review of the foregoing documents.</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">To facilitate the staff&#8217;s review, the SEC&#8217;s comments are reproduced before each of the Company&#8217;s responses thereto.&#160; All page numbers
        referred to in the responses in this letter correspond to the page numbers of the Amendment.</font></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="zd9341fcae76a41e7a74577db6dc1ef8d" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

          <tr>
            <td style="width: 50.00%;">OLSHAN FROME WOLOSKY LLP<br>
            </td>
            <td style="width: 50%; text-align: right;">WWW.OLSHANLAW.COM<br>
            </td>
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      </table>
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        <div>September 25, 2018<br>
        </div>
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    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Registration Statement on Form S-1 filed August 24, 2018</u></font></font></div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Prospectus, page i</u></font></font></div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
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              <td style="width: 36pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">1.</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">In an appropriate section of your prospectus, address the exclusive forum provision in your bylaws.</font></div>
              </td>
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      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Response:</font>&#160; As requested by the staff, disclosure
        regarding the exclusive forum provision in the Company&#8217;s bylaws has been added on page 30.</font></div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Private Placement, page 3</u></font></font></div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
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              <td style="width: 36pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">2.</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Disclose how you calculated the maximum numbers disclosed in the third paragraph on page 5 and tell us how the number of shares registered for resale
                    represents a good-faith estimate of the shares that you will issue.</font></div>
              </td>
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        </table>
      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Response:</font>&#160; In response to this comment, additional
        disclosure has been added on pages 5 and II-5 to explain how the maximum share numbers were calculated.&#160; The Company registered the maximum number of shares potentially issuable pursuant to the private placement warrants, which provide for
        adjustment of the number of shares ultimately issuable based on changes in the Company&#8217;s stock price, to ensure that all shares to be issued pursuant to the private placement warrants are registered. While the Company does not anticipate that its
        stock price will fall as low as the &#8220;floor price&#8221; set forth in the private placement transaction documents and described in the Registration Statement, there can be no assurance that the Company&#8217;s stock price will not fall significantly and result
        in the issuance of up to the maximum number of shares under the warrants.</font></div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
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              <td style="width: 36pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">3.</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">It appears that the price of the securities to be issued in your unregistered transaction and the number of securities to be issued in that transaction
                    has not yet been determined. Please provide us your analysis supporting your conclusion that the unregistered transaction was completed before you filed this registration statement.</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Response:</font>&#160; The purchase and sale of the Company&#8217;s
        common stock and warrants was completed pursuant to the private placement transactions. The Company received cash in exchange for delivery of the common stock and warrants to the purchasers. At the closing of the private placement transactions,
        shares (accompanied by warrants) were issued at a specified share price, and so long as the Company&#8217;s stock price remains at or above $1.50 per share only the specified number of shares set forth in the private placement transaction documents and
        disclosed in the Registration Statement will be issued pursuant to the warrants. However, as mentioned in the response to comment no. 2 above, the private placement warrants are adjustable to provide for the issuance of more shares under the
        warrants if the Company&#8217;s stock price declines. The adjustment of the warrants for the issuance of more shares will not change the price paid for the shares at the closing of the private placement transactions. All that is left to be determined is
        whether the number of shares subject to the warrants will be adjusted, but the private placement has been completed.</font></div>
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        <div>September 25, 2018<br>
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    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Principal and Selling Stockholders, page 34</u></font></font></div>
    <div><br>
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    <div style="text-align: left;">
      <div>
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              <td style="width: 36pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">4.</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Given the nature and size of the transaction being registered, provide us your analysis supporting your conclusion that the transaction is appropriately
                    characterized as a transaction that is eligible to be made on a shelf basis under Rule 415(a)(1)(i). In your analysis, please address the following among any other relevant factors:</font></div>
              </td>
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    <div><br>
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    <div style="text-align: left;">
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              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">any relationships among the selling stockholders;</font></font></div>
              </td>
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    </div>
    <div><br>
    </div>
    <div style="text-align: left;">
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              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">any discount at which the selling stockholders have purchased or will purchase the
                      offered securities;</font></font></div>
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    </div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
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              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">whether any selling stockholder is a broker-dealer or an affiliate of a broker-dealer or
                      is otherwise in the business of buying and selling securities;</font></font></div>
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      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
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              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">whether - based on information obtained from the selling stockholders - any of the
                      selling stockholders have an existing short position in the company and, if any of the selling stockholders have an existing short position, the following additional information: (1) the date on which each such selling stockholder
                      entered into that short position, and (2) the relationship of the date on which each selling stockholder entered into that short position to the date of the announcement of the transactions contemplated by the purchase agreements that
                      you disclose on page 4 and 5 and the filing of the registration statement;</font></font></div>
              </td>
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      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
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              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">the current relationship of each selling stockholder with the issuer, including an
                      analysis of whether such selling stockholder is an affiliate of the issuer;</font></font></div>
              </td>
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      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
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              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">the relationships and arrangements that have existed in the past three years or are to be
                      performed in the future between the issuer (or any of its predecessors) and the selling stockholders, any affiliates of the selling stockholders, or any person with whom any selling stockholder has a contractual relationship regarding
                      the transaction (or any predecessors of those persons) &#8211; the information provided should include, in reasonable detail, a complete description of the rights and obligations of the parties in connection with the sale of the shares or
                      the related warrants;</font></font></div>
              </td>
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      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z6350dd5c9479439481a1673d61bc01f0">

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              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">prior securities transactions between the issuer (or any of its predecessors) and the
                      selling stockholders, any affiliates of the selling stockholders, or any person with whom any selling stockholder has a contractual relationship regarding the transaction (or any predecessors of those persons); and</font></font></div>
              </td>
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      </div>
    </div>
    <div><br>
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    <div style="text-align: left;">
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z688584cbb62244fd9d69c6492ac3a623">

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              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">whether under all the circumstances it appears that the selling stockholders,
                      individually or in the aggregate, are acting as a conduit for the issuer.</font></font></div>
              </td>
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      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Also provide us copies of all agreements between the issuer (or any of its predecessors) and the selling stockholders,
        any affiliates of the selling stockholders, or any person with whom any selling stockholder has a contractual relationship regarding the transaction (or any predecessors of those persons) in connection with the sale of the shares or the related
        warrants.</font></div>
    <div><br>
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        <div>September 25, 2018<br>
        </div>
        <div>Page <font style="font-family: &quot;Times New Roman&quot;; font-size: inherit; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
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    <div style="text-align: left; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">If it is your view that the description of the relationships and arrangements sought by this comment already is
        presented in the registration statement and that all agreements sought by this comment are included as exhibits to the registration statement, please provide us with confirmation of your view in this regard.</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Response:</font></font> Rule 415(a)(1)(i) provides that a
      transaction can be made on a shelf basis if the securities which are to be offered or sold solely by or on behalf of a person or persons other than the registrant, a subsidiary of the registrant or a person of which the registrant is a subsidiary.
      The Company confirms that neither the registrant, a subsidiary of the registrant or a person of which the registrant is a subsidiary are offering securities in this offering. In addition, in response to the staff&#8217;s request to address relevant factors
      in determining the applicability of Rule 415(a)(1)(i), the<font style="font-size: 10pt; font-family: 'Times New Roman';"> Company confirms that the description of the relationships and arrangements sought by this comment already is presented in the
        registration statement and that all agreements sought by this comment (i.e. the private placement transaction documents) are included as exhibits to the registration statement.&#160; The Company further confirms:</font></div>
    <div><br>
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              <td style="width: 57pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">there are only four selling stockholders&#8212;the four purchasers in the private placement transactions;</font></div>
              </td>
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      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
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              <td style="width: 57pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">each of the selling stockholders is unrelated to the other selling stockholders and had no relationships, transactions (including securities transactions), arrangements or
                    affiliations with the Company prior to the private placement and the Company has no arrangements with any of the selling stockholders to be performed in the future (other than pursuant to the private placement transaction documents);</font></div>
              </td>
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      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;">
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              <td style="width: 57pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">none of the selling stockholders are directors, officers or affiliates of the Company, as the Company is not controlled by nor is it under common control with any of the
                    selling stockholders;</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
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            <tr>
              <td style="width: 57pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">none of the selling stockholder is a broker-dealer or an affiliate of a broker-dealer;</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;">
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            <tr>
              <td style="width: 57pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">each selling stockholder has represented to the Company that no short sales were entered into during the period beginning when such selling stockholder obtained knowledge
                    that the Company was contemplating a private placement and ending upon the public announcement of the private placement; otherwise, subject to certain contractual restrictions in the securities purchase agreements, each selling
                    stockholder may enter into short sales, including of stock of the Company, in the ordinary course of its business; and</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
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            <tr>
              <td style="width: 57pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#183;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">none of the selling stockholders are acting as a conduit for the Company.</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>&#160;<br>
    </div>
    <div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Based on the foregoing, it is the Company&#8217;s view that the transaction is appropriately characterized as a transaction that is eligible to be made on a shelf basis under
        Rule 415(a)(1)(i).</div>
    </div>
    <div>&#160;<br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Incorporation of Information by Reference, page 40</u></font></font></div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="zeb9b98d8bbee4857a83055ce13bdc081">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">5.</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">If you are eligible to incorporate by reference and choose to do so, please revise this section consistent with Form S-1 Item 12(a)(2) which requires
                    that you specifically incorporate by reference specified documents filed since December 31, 2017, the end of the fiscal year that you mention in the first bullet point of this section. Also, tell us the authority on which you rely to
                    incorporate the document mentioned in your penultimate bullet point in this section.</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div>September 25, 2018<br>
        </div>
        <div>Page <font style="font-family: &quot;Times New Roman&quot;; font-size: inherit; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
      </div>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Response:</font>&#160; As requested by the staff, the
        disclosure on pages 40 and 41 has been revised to be consistent with Form S-1 Item 12(a)(2) and Form S-1, amendment no. 4 (Reg. No. 333-220499) is no longer incorporated by reference.</font></div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Undertakings, page II-6</u></font></font></div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z900d1769beb641d893c9846e983036d3">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">6.</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Please provide the undertakings required by Regulation S-K Item 512(a)(5)(ii).</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Response:</font>&#160; As requested by the staff, the
        numbering of the undertakings on page II-6 has been revised to clarify the undertaking pursuant to Regulation S-K Item 512(a)(5)(ii).</font></div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Signatures, page II-8</u></font></font></div>
    <div><br>
    </div>
    <div style="text-align: left;">
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z1d9dd2cdd68d4db690e0d1b7d259da74">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">7.</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Please file the Power of Attorney that granted authority to the attorney-in-fact who signed this document.</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Response:</font>&#160; In response to this comment, the
        Company confirms that the signature page previously filed with the Registration Statement inadvertently indicated that certain directors were signed for by the Attorney-in-Fact appointed by the Power of Attorney set forth on the signature page and
        the signature page inadvertently included a signature block for the Attorney-in-Fact. The Company confirms that each of the directors of the Company, as well as the Company&#8217;s Chief Executive Officer and Chief Financial Officer, individually signed
        the signature page to the Registration Statement. A copy of the fully executed and compiled signature page to the Registration Statement is submitted herewith for the staff&#8217;s reference. Accordingly, the Attorney-in-Fact has signed the Amendment on
        behalf of the Company&#8217;s other directors and no additional action is required with respect to the Power of Attorney.</font></div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; width: 13%; color: #000000; text-align:
        center;"></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The Company hereby acknowledges that (i) should the SEC or the staff, acting pursuant to delegated authority, declare the filing effective,
        it does not foreclose the SEC from taking any action with respect to the Registration Statement; (ii) the action of the SEC or the staff, acting pursuant to delegated authority, in declaring the filing effective, does not relieve the Company from
        its full responsibility for the adequacy and accuracy of the disclosure in the Registration Statement; and (iii) the Company may not assert staff comments and the declaration of effectiveness as a defense in any proceeding initiated by the SEC or
        any person under the federal securities laws of the United States.</font></div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">*</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';">*</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;*</font></div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div>September 25, 2018<br>
        </div>
        <div>Page <font style="font-family: &quot;Times New Roman&quot;; font-size: inherit; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
      </div>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Should any member of the SEC&#8217;s staff have any questions or desire any further information or clarification in respect of the Registration
        Statement, please do not hesitate to contact me at (212) 451-2289 or Jason Cabico at (212) 451-2395.</font></div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;" id="z506efe412d5d4b8ba1faad827be9d29c">

        <tr>
          <td style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 56%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Very truly yours,</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 56%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 56%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Adam W. Finerman</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 56%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 56%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Adam W. Finerman</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 56%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">cc:</font></div>
          </td>
          <td style="width: 56%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Mr. Brent Kelton</font></div>
          </td>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 56%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Mr. Viraj Patel</font></div>
          </td>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
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