----

|                                          |
|------------------------------------------|
|                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                     |   | The Company |   | Danya International, Inc. and Subsidiaries[3a] |   | DanyaAfrica[3b] |   | Pro FormaAdjustments |   | Pro FormaCombined |   |
| Revenue                                  |   | $ | 65,346 |  |   | $ | 47,049 |  |   | $ | — |  |   | $ | — |  |   | $ | 112,395 |  |   |
| Direct expenses                          |   | 53,658 |  |   | 30,655 |  |   | (432 | ) |   | 2,661 |  | [3c] | 86,542 |  |   |
| Gross profit                             |   | 11,688 |  |   | 16,394 |  |   | 432 |  |   | (2,661 | ) |   | 25,853 |  |   |
| General and administrative expenses      |   | 9,137 |  |   | 11,371 |  |   | (364 | ) |   | (3,446 | ) | [3d] | 16,698 |  |   |
| Depreciation and amortization            |   | 55 |  |   | — |  |   | — |  |   | 301 |  | [3d] | 356 |  |   |
| Income from operations                   |   | 2,496 |  |   | 5,023 |  |   | 796 |  |   | 484 |  |   | 8,799 |  |   |
| Interest and other income (expense), net |   | 744 |  |   | (69 | ) |   | 75 |  |   | (949 | ) | [3e] | (199 | ) |   |
| Income/(loss) before income taxes        |   | 3,240 |  |   | 4,954 |  |   | 871 |  |   | (465 | ) |   | 8,600 |  |   |
| Provision (benefit) for income taxes     |   | (5,488 | ) |   | — |  |   | — |  |   | 2,144 |  | [3f] | (3,344 | ) |   |
| Net income/(loss)                        |   | $ | 8,728 |  |   | $ | 4,954 |  |   | $ | 871 |  |   | $ | (2,609 | ) |   | $ | 11,944 |  |   |
|                                     |   |   |  |   |   |  |   |   |   |   |  |   |   |   |
| Earnings per share - basic               |   | $ | 0.91 |  |   |   |   |   |   |   |  |   | $ | 1.09 |  | [3g] |
| Earnings per share - diluted             |   | $ | 0.87 |  |   |   |   |   |   |   |  |   | $ | 1.05 |  | [3g] |
|                                     |   |   |  |   |   |  |   |   |   |   |  |   |   |  |   |
| Weighted average shares outstanding      |   |   |  |   |   |  |   |   |   |   |  |   |   |  |   |
| Basic                                    |   | 9,573 |  |   |   |  |   |   |   | 1,381 |  | [3h] | 10,954 |  |   |
| Diluted                                  |   | 10,039 |  |   |   |  |   |   |   | 1,381 |  | [3h] | 11,420 |  |   |

----

|                                          |
|------------------------------------------|
|                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                     |   | The Company |   | Danya International, Inc. and Subsidiaries[3a] |   | DanyaAfrica[3b] |   | Pro FormaAdjustments |   | Pro FormaCombined |   |
| Revenue                                  |   | $ | 33,493 |  |   | $ | 28,261 |  |   | $ | — |  |   | $ | — |  |   | $ | 61,754 |  |   |
| Direct expenses                          |   | 27,352 |  |   | 18,692 |  |   | (108 | ) |   | 1,635 |  | [3c] | 47,571 |  |   |
| Gross profit                             |   | 6,141 |  |   | 9,569 |  |   | 108 |  |   | (1,635 | ) |   | 14,183 |  |   |
| General and administrative expenses      |   | 5,028 |  |   | 6,110 |  |   | (307 | ) |   | (2,203 | ) | [3d] | 8,628 |  |   |
| Depreciation and amortization            |   | 42 |  |   | 131 |  |   | — |  |   | 131 |  | [3d] | 304 |  |   |
| Income from operations                   |   | 1,071 |  |   | 3,328 |  |   | 415 |  |   | 437 |  |   | 5,251 |  |   |
| Interest and other income (expense), net |   | (702 | ) |   | 1 |  |   | 2 |  |   | 254 |  | [3e] | (445 | ) |   |
| Income/(loss) before income taxes        |   | 369 |  |   | 3,329 |  |   | 417 |  |   | 691 |  |   | 4,806 |  |   |
| Provision (benefit) for income taxes     |   | 148 |  |   | — |  |   | — |  |   | 1,775 |  | [3f] | 1,923 |  |   |
| Net income/(loss)                        |   | $ | 221 |  |   | $ | 3,329 |  |   | $ | 417 |  |   | $ | (1,084 | ) |   | $ | 2,883 |  |   |
|                                     |   |   |   |   |  |   |   |   |   |  |   |   |   |
| Earnings per share - basic               |   | $ | 0.02 |  |   |   |   |   |   |   |  |   | $ | 0.26 |  | [3g] |
| Earnings per share - diluted             |   | $ | 0.02 |  |   |   |   |   |   |   |  |   | $ | 0.24 |  | [3g] |
|                                     |   |   |   |   |  |   |   |   |   |  |   |   |  |   |
| Weighted average shares outstanding      |   |   |   |   |  |   |   |   |   |  |   |   |  |   |
| Basic                                    |   | 9,642 |  |   |   |  |   |   |   | 1,381 |  | [3h] | 11,023 |  |   |
| Diluted                                  |   | 10,540 |  |   |   |  |   |   |   | 1,381 |  | [3h] | 11,921 |  |   |

----

|                                                                                                                                         |
|-----------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                                                    |   | The Company |   | Danya International, Inc. and Subsidiaries |   | DanyaAfrica[4a] |   | Pro FormaAdjustments |   | Pro FormaCombined |
| ASSETS                                                                                                                                  |   |   |  |   |   |   |   |   |   |   |   |
| Current assets:                                                                                                                         |   |   |  |   |   |   |   |   |   |   |   |
| Cash and cash equivalents                                                                                                               |   | $ | 6,934 |  |   | $ | 595 |  |   | $ | (98 | ) |   | $ | (7,455 | ) | (4b) | $ | (24 | ) |
| Accounts receivable, net                                                                                                                |   | 3,354 |  |   | 9,680 |  |   | — |  |   | — |  |   | 13,034 |  |
| Deferred taxes, net                                                                                                                     |   | 982 |  |   | — |  |   | — |  |   | — |  |   | 982 |  |
| Other current assets                                                                                                                    |   | 484 |  |   | 327 |  |   | — |  |   | — |  |   | 811 |  |
| Total current assets                                                                                                                    |   | 11,754 |  |   | 10,602 |  |   | (98 | ) |   | (7,455 | ) |   | 14,803 |  |
| Equipment and Improvements                                                                                                              |   | 329 |  |   | 426 |  |   | — |  |   | — |  |   | 755 |  |
| Deferred taxes, net                                                                                                                     |   | 9,286 |  |   | — |  |   | — |  |   | — |  |   | 9,286 |  |
| Goodwill and other intangibles                                                                                                          |   | 8,595 |  |   | — |  |   | — |  |   | 34,731 |  | (4c) | 43,326 |  |
| Other long-term assets                                                                                                                  |   | 66 |  |   | 243 |  |   | (150 | ) |   | 1,282 |  | (4d) | 1,441 |  |
| Total assets                                                                                                                            |   | $ | 30,030 |  |   | $ | 11,271 |  |   | $ | (248 | ) |   | $ | 28,558 |  |   | $ | 69,611 |  |
|                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                              |   |   |   |   |   |   |   |   |
| Current liabilities:                                                                                                                    |   |   |  |   |   |   |   |   |   |   |   |
| Accrued payroll                                                                                                                         |   | $ | 2,617 |  |   | $ | 1,086 |  |   | $ | — |  |   | $ | — |  |   | $ | 3,703 |  |
| Accounts payable, accrued expenses, and other current liabilities                                                                       |   | 3,813 |  |   | 3,495 |  |   | — |  |   | 188 |  | (4e) | 7,496 |  |
| Total current liabilities                                                                                                               |   | 6,430 |  |   | 4,581 |  |   | — |  |   | 188 |  |   | 11,199 |  |
| Long-term debt, less current portion                                                                                                    |   | — |  |   | — |  |   | — |  |   | 30,000 |  | (4f) | $ | 30,000 |  |
| Other long term liabilities                                                                                                             |   | 168 |  |   | — |  |   | — |  |   | — |  |   | 168 |  |
| Total liabilities                                                                                                                       |   | 6,598 |  |   | 4,581 |  |   | — |  |   | 30,188 |  |   | 41,367 |  |
| Commitments and contingencies                                                                                                           |   |   |   |   |   |   |   |   |   |   |
| Shareholders' equity:                                                                                                                   |   |   |   |   |   |   |   |   |   |   |
| Preferred stock, $.10 par value; authorized 5,000 shares, none issued and outstanding                                                   |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Common stock, $.001 par value; authorized 40,000 shares; issued and outstanding 9,717 at March 31, 2016 and 9,551 at September 30, 2015 |   | 10 |  |   | 7 |  |   | — |  |   | (5 | ) | (4g) | 12 |  |
| Additional paid-in capital                                                                                                              |   | 76,717 |  |   | 480 |  |   | — |  |   | 4,518 |  | (4h) | 81,715 |  |
| Accumulated deficit                                                                                                                     |   | (53,295 | ) |   | 6,203 |  |   | (248 | ) |   | (6,143 | ) | (4i) | (53,483 | ) |
| Total shareholders’ equity                                                                                                        |   | 23,432 |  |   | 6,690 |  |   | (248 | ) |   | (1,630 | ) |   | 28,244 |  |
| Total liabilities and shareholders' equity                                                                                              |   | $ | 30,030 |  |   | $ | 11,271 |  |   | $ | (248 | ) |   | $ | 28,558 |  |   | $ | 69,611 |  |

----

----

----

|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |
| (Amounts in thousands)                                     |   |   |
| Preliminary base purchase price for Danya                            |   | $ | 38,750 |  |
| Estimated working capital excess as if transaction closed on 3/31/16 | [4j] | $ | 2,423 |  |
| Estimated purchase price, net of cash acquired                       | [4j] | $ | 41,173 |  |
|                                                                 |   |   |
| Estimated net assets acquired as if transaction closed on 3/31/16:   |   |   |
| Cash and cash equivalents                                            |   | $ | 497 |  |
| Accounts receivable                                                  |   | 9,680 |  |
| Other current assets                                                 |   | 327 |  |
| Total current assets                                                 |   | 10,504 |  |
| Accounts payable and accrued expenses                                |   | (3,495 | ) |
| Payroll liabilities                                                  |   | (1,086 | ) |
| Estimated net working capital surplus                                |   | 5,923 |  |
| Property and equipment, net                                          |   | 426 |  |
| Other long term assets                                               |   | 93 |  |
| Net identifiable assets acquired                                     |   | 6,442 |  |
| Goodwill and other intangibles                                       | [4c] | 34,731 |  |
| Net assets acquired                                                  |   | $ | 41,173 |  |

----

|    |                                                                                   |
|----|-----------------------------------------------------------------------------------|
| 3. | Pro forma Condensed Combined Statements of Operations adjustments and assumptions |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3a.  | Danya International, Inc. was originally organized as an S corporation. Prior to the closing of the acquisition by the Company, Danya International, Inc. was converted from an S corporation to a limited liability company and was renamed Danya International, LLC. The results of Danya for the year are based upon their audited December 31, 2015 financial statements. The results of Danya for the six-month period ended March 31, 2016 are based upon financial statements prepared by Danya. |

|     |                                                                                                                                                                                                                                                |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3b. | DLH did not acquire the African subsidiaries of Danya International, Inc.  Our pro forma financial statements have been adjusted to remove those Danya Africa subsidiaries that were not acquired in the purchase of Danya International, Inc. |

|     |                                                                                                                                                      |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3c. | The adjustment conforms Danya’s income statement presentation with that of DLH, classifying certain operating expenses as direct fringe costs. |

|     |                                                                                                       |
|-----|-------------------------------------------------------------------------------------------------------|
| 3d. | Adjustments to general and administrative, and depreciation and amortization expenses are as follows: |

|                                                                                                                                |
|--------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                |  |  |  |  |  |  |  |  |
| Amounts in Thousands                                                                                                           |   | Unaudited |
|                                                                                                                           |   | Pro Forma Financial Statements |   |
|                                                                                                                           |   | Year Ended |  |   | Six Months Ended |  |
| Adjustments to G&A and Depreciation expense:                                                                               |   | 9/30/2015 |  |   | 3/31/2016 |  |
| Reclassify certain Danya fringe costs from G&A to direct costs                                                             |   | $ | (2,661 | ) |   | $ | (1,635 | ) |
| Reclassify Danya depreciation and amortization from G&A to depreciation                                                    |   | (301 | ) |   | (131 | ) |
| Eliminate Danya stock-based compensation expense related to Danya common stock units, which were terminated upon acquisition   |   | (2 | ) |   | (1 | ) |
| Eliminate Danya severance payments, as this presentation assumes they would have been incurred prior to the acquisition        |   | (107 | ) |   | (56 | ) |
| Eliminate Danya incurred acquisition expenses, as this presentation assumes such costs were incurred prior to the acquisition. |   | (375 | ) |   | (380 | ) |
| Total adjustments to general and administrative expenses                                                                       |   | $ | (3,446 | ) |   | $ | (2,203 | ) |
| Depreciation and amortization expense reclassified from G&A                                                                |   | $ | 301 |  |   | $ | 131 |  |

----

|     |                                                          |
|-----|----------------------------------------------------------|
| 3e. | Adjustments to other income and expenses are as follows: |

|                                                                                                                                                                    |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                    |  |  |  |  |  |  |  |  |
| Amounts in Thousands                                                                                                                                               |   | Unaudited |
|                                                                                                                                                               |   | Pro Forma Financial Statements |   |
|                                                                                                                                                               |   | Year Ended |  |   | Six Months Ended |  |
| Adjustments to other income and expense                                                                                                                            |   | 9/30/2015 |  |   | 3/31/2016 |  |
| Eliminate acquisition expenses for the Company, as this presentation assumes such costs were incurred prior to the acquisition                                     |   | $ | — |  |   | $ | 702 |  |
| Eliminate interest expense as originally recorded by Danya                                                                                                         |   | — |  |   | 4 |  |
| Eliminate interest expense as originally recorded by DLH                                                                                                           |   | 36 |  |   | — |  |
| Add estimated interest expense under new  $25 Million Term Loan as if it began on October 1, 2014, using amortization schedule at date of closing                  |   | (813 | ) |   | (368 | ) |
| Add estimated interest expense under $5M draw on revolving line of credit applied towards acquisition closing purchase price, as if closing occurred on 9/30/2014. |   | (172 | ) |   | (86 | ) |
| Eliminate Danya loss on disposal of property and equipment, as this presentation assumes such costs were incurred prior to the acquisition                         |   | — |  |   | 2 |  |
| Total adjustments to other income and expense                                                                                                                      |   | $ | (949 | ) |   | $ | 254 |  |

|     |                                                      |
|-----|------------------------------------------------------|
| 3f. | Adjustments to provision (benefit) for income taxes: |

|                                                                                                                                                                                                                                                                                                                                                                |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                |  |  |  |  |  |  |  |  |
| Amounts in Thousands                                                                                                                                                                                                                                                                                                                                           |   | Unaudited |
|                                                                                                                                                                                                                                                                                                                                                           |   | Pro Forma Financial Statements |   |
|                                                                                                                                                                                                                                                                                                                                                           |   | Year Ended |  |   | Six Months Ended |  |
| Adjustments to provision (benefit) for income taxes                                                                                                                                                                                                                                                                                                            |   | 9/30/2015 |  |   | 3/31/2016 |  |
| Transition of Danya from an S corporation, whose tax obligations are passed to its owners, to a member of the DLH consolidated tax group. This adjustment also reflects the tax effects of the pro forma adjustments outlined above. Following the Acquisition, Danya will accrue taxes based upon corporate tax rates at U.S. Federal, state and local level. |   | $ | 2,144 |  |   | $ | 1,775 |  |
| Total adjustments to other provision (benefit) for income taxes                                                                                                                                                                                                                                                                                                |   | $ | 2,144 |  |   | $ | 1,775 |  |

|     |                                                                                                              |
|-----|--------------------------------------------------------------------------------------------------------------|
| 3g. | The earnings per share calculations have been adjusted to reflect the pro forma transactions outlined above. |

|     |                                                                                                                                                         |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3h. | Represents the increase in number of shares of DLH common stock issued and outstanding resulting from the acquisition of Danya:     |

|                                                                                |
|--------------------------------------------------------------------------------|
|                                                                                |  |  |  |
| Adjustments to the number of shares of DLH common stock issued and outstanding |   | Shares in thousands |
| Shares of DLH common stock issued to Seller on the date of acquisition         |   | 670 |  |
| Shares of DLH common stock issued related to the rights offering               |   | 711 |  |
| Total increase in shares of DLH common stock issued and outstanding            |   | 1,381 |  |

----

|     |                                                                                                                                                                                                                                                |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4a. | DLH did not acquire the African subsidiaries of Danya International, Inc.  Our pro forma financial statements have been adjusted to remove those Danya Africa subsidiaries that were not acquired in the purchase of Danya International, Inc. |

|     |                                           |
|-----|-------------------------------------------|
| 4b. | Adjustments to cash and cash equivalents: |

----

|                                                                                                                                                             |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                             |  |  |  |  |
| Amounts in Thousands                                                                                                                                        |   | Unaudited |
|                                                                                                                                                        |   | Pro Forma |
|                                                                                                                                                        |   | Balance Sheet |
| Adjustments to cash and cash equivalents                                                                                                                    |   | 3/31/2016 |
| Proceeds from $30.0 million of senior debt and $2.5 million of subordinated debt required to complete the acquisition.                                      |   | $ | 32,500 |  |
| Financing fees associated with securing 30.0 million senior debt                                                                                            |   | (1,282 | ) |
| Based upon working capital at March 31, 2016, the estimated acquisition price for Danya used in this pro forma balance sheet would have been $41.1 million. |   | (41,173 | ) |
| Issuance of $2.5 million of equity to Seller as partial consideration for the acquisition.                                                                  |   | 2,500 |  |
| Total adjustments to cash and cash equivalents                                                                                                              |   | $ | (7,455 | ) |

|     |                                                                                                                                                                                                                                                                                                       |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4c. | This adjustment reflects recording goodwill and other intangibles of $34.7 million resulting from the Acquisition, representing the difference between the preliminary estimate of the fair value of the identifiable assets acquired and liabilities assumed and the total estimated purchase price: |

|                                                                                         |
|-----------------------------------------------------------------------------------------|
|                                                                                         |  |  |  |  |
| Amounts in Thousands                                                                    |   | Unaudited |
|                                                                                    |   | Pro Forma |
|                                                                                    |   | Balance Sheet |
| Calculation of goodwill and other intangibles at 3/31/16 resulting from the acquisition |   | 3/31/2016 |
| Estimated purchase price, net of cash acquired                                          | [4i] | $ | 41,173 |  |
| Less net identifiable assets acquired                                                   |   | (6,442 | ) |
| Total estimated goodwill and other intangibles at 3/31/16                               |   | $ | 34,731 |  |

|     |                                                                                                                                                                                                                 |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4d. | This adjustment for $1.282 million reflects deferred financing expenses incurred to obtain the senior credit facility of $30.0 million.             |

|     |                                                                                                                                                                                     |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4e. | This adjustment for $188 thousand reflects transaction costs incurred by the Company. These costs were incurred but not paid prior to the Acquisition Date.     |

|     |                                                                                                                                                                                                                                                                                                         |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4f. | This adjustment reflects extinguishing the $2.5 million subordinated debt with proceeds of rights offering to be filed in early July 2016. Proceeds from Term Loan and subordinated debt were $32.5 million. The Remaining debt after extinguishing the subordinated debt is $30.0 million senior debt. |

|     |                                                                                              |
|-----|----------------------------------------------------------------------------------------------|
| 4g. | This adjustment reflects changes to common stock recorded at par value on our balance sheet: |

|                                                                                                                    |
|--------------------------------------------------------------------------------------------------------------------|
|                                                                                                                    |  |  |  |  |
| Amounts in Thousands                                                                                               |   | Unaudited |
|                                                                                                               |   | Pro Forma |
|                                                                                                               |   | Balance Sheet |
| Adjustment to common stock recorded at par value:                                                                  |   | 3/31/2016 |
| Eliminate Danya balance sheet expense for shares issued and outstanding which were terminated upon the acquisition |   | $ | (7 | ) |
| Expense at par value for additional 1,381 thousands shares issued and outstanding                                  |   | 2 |  |
| Total adjustment to common stock recorded at par value                                                             |   | $ | (5 | ) |

|     |                                                                                                         |
|-----|---------------------------------------------------------------------------------------------------------|
| 4h. | This adjustment reflects changes to additional paid in capital resulting from the acquisition of Danya: |

----

|                                                                                                                                                                                |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                |  |  |  |  |
| Amounts in Thousands                                                                                                                                                           |   | Unaudited |
|                                                                                                                                                                           |   | Pro Forma |
|                                                                                                                                                                           |   | Balance Sheet |
| Adjustments to additional paid in capital                                                                                                                                      |   | 3/31/2016 |
| Eliminate Danya International Inc. historical paid in capital balance; equity was extinguished on the date of acquisition                                                      |   | $ | (480 | ) |
| Paid in capital for 670 thousand shares common stock at $3.73 per share issued to Danya seller on the date of acquisition ($2,500 thousand less $1 thousand = $2,499 thousand) |   | 2,499 |  |
| Paid in capital for 711 thousand shares common stock at $3.73 per share issued in the rights offering ($2,650 thousand less $1 thousand = $2,649 thousand)                     |   | 2,649 |  |
| Less transaction expenses associated with the rights offering                                                                                                                  |   | (150 | ) |
| Total adjustments to additional paid in capital                                                                                                                                |   | $ | 4,518 |  |

|     |                                                                                                  |
|-----|--------------------------------------------------------------------------------------------------|
| 4i. | This adjustment reflects changes to Accumulated Deficit resulting from the acquisition of Danya: |

|                                                                                                                      |
|----------------------------------------------------------------------------------------------------------------------|
|                                                                                                                      |  |  |  |  |
| Amounts in Thousands                                                                                                 |   | Unaudited |
|                                                                                                                 |   | Pro Forma |
|                                                                                                                 |   | Balance Sheet |
| Adjustments to accumulated deficit resulting from acquisition                                                        |   | 3/31/2016 |
| Eliminate Danya International Inc. historical retained earnings; equity was extinguished on the date of acquisition  |   | $ | (6,203 | ) |
| Eliminate Danya Africa subsidiaries historical retained earnings; equity was extinguished on the date of acquisition |   | 248 |  |
| Transaction costs incurred by the Company, which were incurred but not paid prior to the date of acquisition         |   | (188 | ) |
| Total adjustments to accumulated deficit                                                                             |   | $ | (6,143 | ) |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4j. | The preliminary base purchase price of $38.75 million for Danya on May 3, 2016 included a target net working capital of $3.5 million. Our estimated pro forma balance sheet included herein is stated as if the transaction occurred on March 31, 2016.  As such, the estimated net working capital at March 31, 2016 is $5.923 million, reflecting an excess of $2.423 million over the $3.5 million target. This also increased the estimated purchase price as of March 31, 2016, from $38.75 million to $41.173 million. Working capital balances on the actual date of the acquisition, May 3, 2016, will be different from those estimated at March 31, 2016. Future adjustments for working capital excess (deficit) compared to the $3.5 million target will change as we finalize valuations and financial results as of the actual date of the acquisition on May 3, 2016. |