Document:

Exhibit 10.34

 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR OTHERWISE IN ACCORDANCE WITH APPLICABLE LAW.

 

WARRANT TO PURCHASE STOCK

 

	
Company:
    	
Tangoe, Inc.,   a Delaware corporation
    
	
Number   of Shares:
    	
625,000,   subject to adjustment
    
	
Class of   Stock:
    	
Series F   Convertible Preferred Stock, $.0001 par value
    
	
Initial   Exercise Price:
    	
$1.1776   per share, subject to adjustment
    
	
Issue   Date:
    	
January 21,   2011
    
	
Expiration   Date:
    	
January 21,   2018
    

 

THIS WARRANT CERTIFIES THAT, for value received, receipt of which is hereby acknowledged, ORIX Finance Equity Investors, LP (“Holder”) is entitled to purchase the number of fully paid and nonassessable shares of the Class of Stock (the “Shares”) of Tangoe, Inc., a Delaware corporation  (the “Company”), having a principal place of business located at 35 Executive Boulevard, Orange, Connecticut 06477, at the initial exercise price per Share (the “Warrant Price”) set forth above, as constituted on the date hereof and as adjusted pursuant to the other terms of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. This Warrant is being issued pursuant to a Seventh Amendment to Loan and Security Agreement between the Company and ORIX Venture Finance LLC (an affiliate of Holder) (“Lender”), dated as of January 21, 2011 (the “Loan Agreement”)  (Capitalized terms used herein, which are not defined, shall have the meanings set forth in the Loan Agreement.)

 

ARTICLE 1.         SHARES; EXERCISE.

 

1.1  Number of Shares.  The number of Shares initially subject to this Warrant shall initially be the number of Shares set forth above; provided that if the Lender fails to fund the Second Additional Disbursement on the closing of the Telwares Acquisition in violation of the Loan Agreement, the number of Shares shall be reduced by 125,000 Shares to 500,000 Shares.

 

1.2  Method of Exercise.  Holder may exercise this Warrant by delivering (including a facsimile transmission) a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company.  Unless Holder is exercising the conversion right set forth in Section 1.3, Holder shall also deliver to the Company the aggregate Warrant Price for the Shares being purchased (i) by wire transfer or by check, or (ii) by notice of cancellation of indebtedness of the Company to Holder, or (iii) a combination of (i) or (ii).

 

1.3  Conversion Right.  In lieu of exercising this Warrant as specified in Section 1.2, Holder may from time to time convert this Warrant, in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares or other securities otherwise issuable upon the proposed whole or partial exercise of this Warrant minus the 

 

1

 

aggregate Warrant Price of such Shares by (b) the fair market value of one Share.  The fair market value of the Shares shall be determined pursuant  to Section 1.6 below.

 

1.4  Effective Date of Exercise.  This Warrant shall be deemed to have been exercised immediately prior to the close of business on the date of its surrender for exercise as provided above. The person entitled to receive the Shares issuable upon exercise of this Warrant shall be treated for all purposes as the holder of record of such shares as of the close of business on the date the Holder is deemed to have exercised this Warrant.

 

1.5  No Rights of Shareholder.  This Warrant does not entitle Holder to any voting rights as a shareholder of the Company prior to the exercise hereof.  Upon exercise hereof, as set forth herein, the Holder shall be deemed to be a shareholder of the Company holding the number of shares as to which this Warrant has been exercised on the date the Notice of Exercise in substantially the form attached as Appendix 1 has been delivered to the principal office of the Company with any payment or other documents called for by the terms hereof.

 

1.6  Fair Market Value.  If the Shares are traded in a public market, the fair market value of the Shares shall be the closing price of the Shares (or the closing price of the Company’s stock into which the Shares are convertible) reported for the business day immediately before Holder delivers its Notice of Exercise to the Company.  If the Shares are not traded in a public market, the Board of Directors of the Company shall determine fair market value in its reasonable good faith judgment.  The foregoing notwithstanding, if Holder advises the Board of Directors in writing that Holder disagrees with such determination, then the Company and Holder shall promptly agree upon a reputable investment banking firm to undertake such valuation.  If the Company and Holder are unable to agree on such investment banking firm, then the Holder shall select three reputable investment banking firms, and from those three firms the Company shall select one to undertake such valuation. If the valuation of such investment banking firm is greater than that determined by the Board of Directors, then all fees and expenses of such investment banking firm shall be paid by the Company.  In all other circumstances, such fees and expenses shall be paid by Holder.

 

1.7  Delivery of Certificate and New Warrant.  Promptly after Holder exercises or converts this Warrant, the Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has not been fully exercised or converted and has not expired, a new Warrant representing the Shares not so acquired shall be delivered to Holder.

 

1.8  Replacement of Warrants.  On receipt of an affidavit of an officer of the Holder of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company at its expense shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor.

 

1.9  Acquisition of the Company. Upon the closing of any Acquisition the successor entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for   

 

2

 

the Acquisition and subsequent closing.  The Warrant Price shall be adjusted accordingly. As used herein, “Acquisition” means any sale, license, or other disposition of all or substantially all of the assets of the Company, or any reorganization, sale of stock, consolidation, or merger of the Company in which the holders of the Company’s voting securities before the transaction (for such purpose treating all outstanding options and warrants to purchase voting securities of the Company as having been exercised and treating all outstanding debt and equity securities convertible into voting securities of the Company as having been converted) beneficially own less than 50% of the outstanding voting securities of the surviving entity after the transaction.

 

1.10                                        Automatic Exercise Prior to Expiration.  To the extent this Warrant is not previously exercised as to all of the Shares subject hereto, and if the fair market value of one Share is greater than the Warrant Price then in effect, this Warrant shall be deemed automatically exercised pursuant to Section 1.3 above (even if not surrendered) immediately before its expiration date as set forth in this Warrant.  For purposes of such automatic exercise, the fair market value of one Share upon such expiration shall be determined pursuant to Section 1.6 above.  To the extent this Warrant or any portion thereof is deemed automatically exercised pursuant to this Section, the Company agrees to promptly notify the holder hereof of the number of Shares, if any, the holder hereof is to receive by reason of such automatic exercise.

 

ARTICLE 2.         ADJUSTMENTS TO THE SHARES.

 

2.1  Stock Dividends, Splits, Etc.   If the Company declares or pays a dividend on its Stock payable in Common Stock or other securities, or subdivides the outstanding Stock into a greater amount of Stock, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares of record as of the date the dividend or subdivision occurred.

 

2.2  Reclassification, Exchange or Substitution.  Upon any reclassification, exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon exercise or conversion of this Warrant, the number and kind of securities and property that Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event.  Such an event shall include any automatic conversion of the outstanding or issuable securities of the Company of the same class or series as the Shares to Common Stock pursuant to the terms of the Company’s Articles or Certificate of Incorporation upon the closing of a registered public offering of the Company’s Common Stock.  After the occurrence of such an event, the Company or its successor shall promptly issue to Holder a new Warrant for such new securities or other property.  The new Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new Warrant.  The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events.

 

3

 

2.3  Adjustments for Combinations, Etc.  If the outstanding Shares are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased.

 

2.4  Price Adjustment.  If the Company issues additional common shares (including shares of Common Stock ultimately issuable upon conversion of a security convertible into Common Stock) after the date of the Warrant and the consideration per additional common share is less than the Warrant Price in effect immediately before such issue, the price at which the Shares are converted to Common Stock shall be adjusted in accordance with the treatment of the series of securities of which the Shares are part under the Company’s Certificate of Incorporation.

 

2.5  No Impairment.  The Company shall not, by amendment of its Articles or Certificate of Incorporation or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this Warrant by the Company, but shall at all times in good faith assist in carrying out of all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights under this Article against impairment.

 

2.6  Fractional Shares.  No fractional Shares shall be issuable upon exercise or conversion of the Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share.  If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder a cash amount computed by multiplying the fractional interest by the fair market value of a full Share.

 

2.7  Certificate as to Adjustments; Other Adjustments.  Upon each adjustment of the Warrant Price, the Company at its expense shall promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer setting forth such adjustment and the facts upon which such adjustment is based.  The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of adjustments leading to such Warrant Price.  If any change in the outstanding securities of the Company or any other event occurs, as to which the other provisions of this Article 2 are not strictly applicable, or if strictly applicable would not fairly protect the purchase rights of the Holder in accordance with such provisions, then the Board of Directors of the Company shall make an adjustment in the number and class of shares subject to this Warrant, the Warrant Price or the application of such provisions, so as to protect such purchase rights as aforesaid and to give the Holder, upon exercise for the same aggregate Warrant Price, the total number, class and kind of securities as it would have owned had the Warrant been exercised prior to the event and had it continued to hold such securities until after the event requiring the adjustment.

 

ARTICLE 3.         REPRESENTATIONS AND COVENANTS OF THE COMPANY.

 

3.1  Representations and Warranties.  The Company hereby represents and warrants to the Holder as follows:

 

4

 

(a)   The initial Warrant Price hereunder is not greater than the price per share at which the Shares were last issued in an arm’s length transaction in which at least $500,000 of the Shares were sold.

 

(b)   All Shares which may be issued upon the exercise of the purchase right represented by this Warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws.  The Company shall, at all times, reserve a sufficient number of Shares and of shares of Common Stock for issuance upon Holder’s exercise of its rights hereunder and conversion of the Shares.

 

(c)   The Capitalization Table attached hereto as Exhibit A is true and complete as of the Issue Date.

 

3.2  Notice of Certain Events.  If the Company proposes at any time (a) to declare any dividend or distribution upon its Common Stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for subscription pro rata to the holders of any class or series of its stock any additional shares of stock of any class or series or other rights; (c) to effect any reclassification or recapitalization of Common Stock; (d) to merge or consolidate with or into any other corporation, or sell, lease, license, or convey all or substantially all of its assets, or to liquidate, dissolve or wind up; or (e) offer holders of registration rights the opportunity to participate in an underwritten public offering of the company’s securities for cash, then, in connection with each such event, the Company shall give Holder (1) at least 30 days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of Common Stock will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) and (b) above; (2) in the case of the matters referred to in (c) and (d) above at least 10 days prior written notice of the date when the same will take place (and specifying the date on which the holders of Common Stock will be entitled to exchange their Common Stock for securities or other property deliverable upon the occurrence of such event); and (3) in the case of the matter referred to in (e) above, the same notice as is given to the holders of such registration rights; provided that in the case of the matters referred to in (d) above, Holder shall treat such notice as confidential information and shall not divulge it to any person or entity other than its attorneys or accountants or otherwise as required by applicable law.

 

3.3  Information Rights.  So long as the Holder holds this Warrant and/or any of the Shares, the Company shall deliver to the Holder (a) promptly after mailing, copies of all notices or other written communications to the shareholders of the Company, (b) within 150 days after the end of each fiscal year of the Company, an accountant-reviewed year end financial statement and certified by an Officer of the Company, (c) within forty-five (45) days after the end of each fiscal quarter of the Company, a Company-prepared quarterly financial statement of the Company (provided the same are required to be delivered to shareholders of the same class of stock that this Warrant is exercisable for), and (d) within thirty (30) days after the end of each month, a Company-prepared monthly financial statement of the Company (provided the same are 

 

5

 

required to be delivered to shareholders of the same class of stock that this Warrant is exercisable for).

 

3.4  Registration Under Securities Act of 1933, as amended.  The Company agrees that with respect to the Shares or, if the Shares are convertible into Common Stock of the Company, such Common Stock, Holder shall have incidental, or “Piggyback,” and S-3 registration rights pursuant to and as set forth in the Company’s Eighth Amended and Restated Investor Rights Agreement dated October 15, 2009 (the “IRA”), as the same is in effect on the date hereof, and within fifteen days after the date hereof, Company shall cause the IRA to be amended to include the Shares as “Registrable Shares” as therein defined.  In the event of any subsequent changes to said Agreement which would be advantageous to the Holder’s registration rights, the Holder shall have the benefit of such changes, but no changes to said Agreement which would be less advantageous to the Holder with respect to such registration rights shall be binding on the Holder.

 

ARTICLE 4.         REPRESENTATIONS, WARRANTIES OF THE HOLDER.  The Holder represents and warrants to the Company as follows:

 

4.1  Purchase for Own Account.  Except for transfers to Holder’s affiliates, this Warrant and the securities to be acquired upon exercise of this Warrant by the Holder will be acquired for investment for the Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the 1933 Act, and the Holder has no present intention of selling, granting any participation in, or otherwise distributing the same.  The Holder also represents that the Holder has not been formed for the specific purpose of acquiring this Warrant or the Shares.

 

4.2  Disclosure of Information.  The Holder has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities.  The Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to the Holder or to which the Holder has access.

 

4.3  Investment Experience. The Holder:  (i) has experience as an investor in securities and acknowledges that the Holder is able to fend for itself, can bear the economic risk of the Holder’s investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that the Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or (ii) has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables the Holder to be aware of the character, business acumen and financial circumstances of such persons.

 

4.4  Accredited Investor Status.  The Holder is an “accredited investor” within the meaning of Regulation D promulgated under the 1933 Act.

 

6

 

ARTICLE 5.         MISCELLANEOUS

 

5.1  Term.  This Warrant is exercisable, in whole or in part, at any time and from time to time on or before the Expiration Date set forth above.

 

5.2  Legends.  This Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form:

 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AS PERMITTED UNDER APPLICABLE LAW.

 

5.3  Compliance with Securities Laws on Transfer.  This Warrant and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee.

 

5.4  Transfer Procedure.  Subject to the provisions of Section 5.2, Holder may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the securities issuable, directly or indirectly, upon conversion of the Shares, if any) by giving the Company notice of the portion of the Warrant being transferred setting forth the name, address and taxpayer identification number of the transferee and surrendering this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable).

 

5.5  Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, to such address as may have been furnished to the Company or the Holder, as the case may be, in writing by the Company or the Holder from time to time.

 

5.6  Waiver; Amendment. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought.

 

5.7  Issue Tax.  The issuance of the securities subject to this Warrant shall be made without charge to the Holder for any issue tax (other than applicable income taxes) in respect thereof.

 

5.8  Attorneys Fees.  In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs reasonably incurred in such dispute, including reasonable attorneys’ fees.

 

7

 

5.9  Governing Law. This Warrant and all acts, transactions, disputes and controversies arising hereunder or relating hereto, and all rights and obligations of Holder and Company shall be governed by, and construed in accordance with the internal laws (and not the conflict of laws rules) of the State of Delaware.

 

[Signatures on Next Page]

 

 

8

 

	
 
    	
TANGOE, INC.
    
	
 
    	
 
    
	
 
    	
By
    	
/s/   Albert R. Subbloie, Jr.
    
	
 
    	
Title
    	
CEO   + Founder
    

 

 

	
Holder:
    	
 
    
	
 
    	
 
    
	
ORIX   Finance Equity Investors, LP
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By
    	
/s/   Kevin P. Sheehan
    	
 
    
	
 
    	
Kevin   P. Sheehan,
    	
 
    
	
 
    	
Authorized   Signatory
    	
 
    

 

[Signature Page—Warrant to Purchase Stock]

 

9

 

APPENDIX 1

 

NOTICE OF EXERCISE

 

1.             The undersigned hereby elects to purchase                    shares of the Series           Preferred Stock of [Company] pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price of such shares in full.

 

1.             The undersigned hereby elects to convert the attached Warrant into Shares in the manner specified in the Warrant.  This conversion is exercised with respect to                                    of the Shares covered by the Warrant.

 

[Strike paragraph that does not apply.]

 

2.             Please issue a certificate or certificates representing said shares in the name of the undersigned or in such other name as is specified below:

 

 

 

3.             The undersigned represents it is acquiring the Shares solely for its own account and not as a nominee for any other party and not with a view toward the resale or distribution thereof except in compliance with applicable securities laws.

 

	
 
    	
(Signature)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Date
    

 

 

Exhibit A

 

Capitalization Table

 

 

TANGOE, INC.

CAP TABLE

AS OF DECEMBER 31, 2010

 

	
 
    	
 
    	
 
    	
 
    	
Issued   and Outstanding Stock
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Shareholder
    	
 
    	
Status
    	
 
    	
Common
   Stock
    	
 
    	
Series A
   Preferred
    	
 
    	
Series B
   Preferred
    	
 
    	
Series C
   Preferred
    	
 
    	
Series D
   Preferred
    	
 
    	
Series D1
   Preferred
    	
 
    	
Series E
   Preferred
    	
 
    	
Series F
   Preferred
    	
 
    	
Series 1
   Preferred
    	
 
    	
Series 2
   Preferred
    	
 
    	
Total
    	
 
    	
% of
   Outstanding
    	
 
    	
Preferred
 Shares
    	
 
    	
% Pref
    	
 
    
	
Edison   Venture
    	
 
    	
I
    	
 
    	
—
    	
 
    	
—
    	
 
    	
8,170,464
    	
 
    	
3,823,724
    	
 
    	
2,745,387
    	
 
    	
1,568,800
    	
 
    	
1,331,081
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
17,639,456
    	
 
    	
21.16
    	
%
    	
17,639,456
    	
 
    	
26.3
    	
%
    
	
Sevin   Rosen
    	
 
    	
I
    	
 
    	
304,035
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
11,144,752
    	
 
    	
2,368,403
    	
 
    	
13,817,190
    	
 
    	
16.58
    	
%
    	
13,513,155
    	
 
    	
20.2
    	
%
    
	
North   Atlantic Capital
    	
 
    	
I
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
8,108,108
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
8,108,108
    	
 
    	
9.73
    	
%
    	
8,108,108
    	
 
    	
12.1
    	
%
    
	
Albert   R. Subbloie, Jr.
    	
 
    	
CE
    	
 
    	
4,639,173
    	
 
    	
488,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,127,173
    	
 
    	
6.15
    	
%
    	
488,000
    	
 
    	
0.7
    	
%
    
	
HO2.1
    	
 
    	
I
    	
 
    	
253,933
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
4,148,840
    	
 
    	
—
    	
 
    	
4,402,773
    	
 
    	
5.28
    	
%
    	
4,148,840
    	
 
    	
6.2
    	
%
    
	
Axiom   Venture Partners III, L.P.
    	
 
    	
I
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,353,200
    	
 
    	
1,283,784
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,636,984
    	
 
    	
4.36
    	
%
    	
3,636,984
    	
 
    	
5.4
    	
%
    
	
Teachers   Insurance and Annuity Association of America
    	
 
    	
I
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,541,836
    	
 
    	
—
    	
 
    	
3,541,836
    	
 
    	
4.25
    	
%
    	
3,541,836
    	
 
    	
5.3
    	
%
    
	
Investor   Growth Capital Limited
    	
 
    	
I
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
7,133,153
    	
 
    	
—
    	
 
    	
—
    	
 
    	
7,133,153
    	
 
    	
8.56
    	
%
    	
7,133,153
    	
 
    	
10.6
    	
%
    
	
Investor   Group, L.P.
    	
 
    	
I
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,057,065
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,057,065
    	
 
    	
3.67
    	
%
    	
3,057,065
    	
 
    	
4.6
    	
%
    
	
InterNoded, Inc.
    	
 
    	
CE
    	
 
    	
1,952,673
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,952,673
    	
 
    	
2.34
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
International   Business Machines Corporation
    	
 
    	
strategic
   partner
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Victor   J. Nesi
    	
 
    	
FF
    	
 
    	
1,189,764
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,189,764
    	
 
    	
1.43
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Gary   R. Martino
    	
 
    	
CE
    	
 
    	
1,256,850
    	
 
    	
80,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,336,850
    	
 
    	
1.60
    	
%
    	
80,000
    	
 
    	
0.1
    	
%
    
	
Charles   Gamble
    	
 
    	
CE
    	
 
    	
705,822
    	
 
    	
20,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
725,822
    	
 
    	
0.87
    	
%
    	
20,000
    	
 
    	
0.0
    	
%
    
	
Paul   Schmidt
    	
 
    	
CE
    	
 
    	
81,541
    	
 
    	
40,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,394
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
141,935
    	
 
    	
0.17
    	
%
    	
60,394
    	
 
    	
0.1
    	
%
    
	
CVF,   LLC
    	
 
    	
T
    	
 
    	
42,828
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
775,729
    	
 
    	
66,153
    	
 
    	
884,710
    	
 
    	
1.06
    	
%
    	
841,882
    	
 
    	
1.3
    	
%
    
	
Steven   Shwartz
    	
 
    	
CE
    	
 
    	
220,000
    	
 
    	
104,828
    	
 
    	
44,566
    	
 
    	
63,728
    	
 
    	
39,220
    	
 
    	
78,440
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
550,782
    	
 
    	
0.66
    	
%
    	
330,782
    	
 
    	
0.5
    	
%
    
	
Albert   M. Rossini
    	
 
    	
CE
    	
 
    	
435,643
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
435,643
    	
 
    	
0.52
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Leonard   J. Goldberg
    	
 
    	
FF
    	
 
    	
230,000
    	
 
    	
335,350
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
565,350
    	
 
    	
0.68
    	
%
    	
335,350
    	
 
    	
0.5
    	
%
    
	
Joseph   M. Goldberg
    	
 
    	
FF
    	
 
    	
215,000
    	
 
    	
313,900
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
528,900
    	
 
    	
0.63
    	
%
    	
313,900
    	
 
    	
0.5
    	
%
    
	
Christopher   T. Fraser
    	
 
    	
former
   director
    	
 
    	
45,000
    	
 
    	
2,247
    	
 
    	
81,705
    	
 
    	
54,806
    	
 
    	
39,220
    	
 
    	
39,220
    	
 
    	
67,567
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
329,765
    	
 
    	
0.40
    	
%
    	
284,765
    	
 
    	
0.4
    	
%
    
	
Andrew   B. Esposito
    	
 
    	
CE
    	
 
    	
350,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
350,000
    	
 
    	
0.42
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Kaufman   Family LLC
    	
 
    	
T
    	
 
    	
42,828
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
425,020
    	
 
    	
—
    	
 
    	
467,848
    	
 
    	
0.56
    	
%
    	
425,020
    	
 
    	
0.6
    	
%
    
	
Rae   Ko Fairfield
    	
 
    	
FF
    	
 
    	
148,000
    	
 
    	
105,941
    	
 
    	
—
    	
 
    	
—
    	
 
    	
78,440
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
332,381
    	
 
    	
0.40
    	
%
    	
184,381
    	
 
    	
0.3
    	
%
    
	
Jana   Wilson
    	
 
    	
FE
    	
 
    	
344,492
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
344,492
    	
 
    	
0.41
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
James   Offerdahl
    	
 
    	
T, FE
    	
 
    	
348,579
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
348,579
    	
 
    	
0.42
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Venture   Lending & Leasing IV, LLC
    	
 
    	
Former
   Traq
   lender
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Donna   Reis
    	
 
    	
FF
    	
 
    	
300,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
300,000
    	
 
    	
0.36
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Gregory   Burkus
    	
 
    	
FF
    	
 
    	
20,000
    	
 
    	
100,000
    	
 
    	
44,566
    	
 
    	
127,457
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
292,023
    	
 
    	
0.35
    	
%
    	
272,023
    	
 
    	
0.4
    	
%
    
	
Stephano   Kim
    	
 
    	
FF
    	
 
    	
30,000
    	
 
    	
60,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
149,036
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
239,036
    	
 
    	
0.29
    	
%
    	
209,036
    	
 
    	
0.3
    	
%
    
	
ORIX   Venture Finance LLC
    	
 
    	
senior
   lender
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Paul   White
    	
 
    	
FF
    	
 
    	
167,228
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
167,228
    	
 
    	
0.20
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Bard   Financial Services, Inc. Profit Sharing Plan 
    	
 
    	
FF
    	
 
    	
50,000
    	
 
    	
72,550
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
122,550
    	
 
    	
0.15
    	
%
    	
72,550
    	
 
    	
0.1
    	
%
    
	
Jay   Steinberg and Melanie Steinberg (JTWROS) 
    	
 
    	
FF
    	
 
    	
50,000
    	
 
    	
73,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
123,000
    	
 
    	
0.15
    	
%
    	
73,000
    	
 
    	
0.1
    	
%
    
	
Kenneth   Spitzbard
    	
 
    	
FF
    	
 
    	
35,000
    	
 
    	
43,423
    	
 
    	
—
    	
 
    	
19,118
    	
 
    	
23,532
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
121,073
    	
 
    	
0.15
    	
%
    	
86,073
    	
 
    	
0.1
    	
%
    
	
Scott   D. Porter 
    	
 
    	
FF
    	
 
    	
10,000
    	
 
    	
20,000
    	
 
    	
16,341
    	
 
    	
10,706
    	
 
    	
7,844
    	
 
    	
7,844
    	
 
    	
20,270
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
93,005
    	
 
    	
0.11
    	
%
    	
83,005
    	
 
    	
0.1
    	
%
    
	
Comerica   Bank - California
    	
 
    	
former
   senior
   lender
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Comerica   Ventures Incorporated
    	
 
    	
T
    	
 
    	
—
    	
 
    	
—
    	
 
    	
37,444
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,928
    	
 
    	
—
    	
 
    	
43,372
    	
 
    	
0.05
    	
%
    	
43,372
    	
 
    	
0.1
    	
%
    
	
Jon   Gassett
    	
 
    	
CE
    	
 
    	
15,000
    	
 
    	
13,800
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
28,800
    	
 
    	
0.03
    	
%
    	
13,800
    	
 
    	
0.0
    	
%
    
	
Daniel   Riscalla
    	
 
    	
consultant
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
 
    	
 
    	
0.0
    	
%
    
	
Christopher   DeBenedictis
    	
 
    	
CE
    	
 
    	
20,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
7,844
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
27,844
    	
 
    	
0.03
    	
%
    	
7,844
    	
 
    	
0.0
    	
%
    
	
Subbloie   gift/family (see below)
    	
 
    	
FF
    	
 
    	
70,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
70,000
    	
 
    	
0.08
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Vertex   Partners, L.P.
    	
 
    	
T
    	
 
    	
6,425
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
70,836
    	
 
    	
—
    	
 
    	
77,261
    	
 
    	
0.09
    	
%
    	
70,836
    	
 
    	
0.1
    	
%
    
	
Joseph   R. LeMay, Jr.
    	
 
    	
FE
    	
 
    	
66,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
66,000
    	
 
    	
0.08
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Mark   Gorman
    	
 
    	
CE
    	
 
    	
22,182
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,182
    	
 
    	
0.03
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Aaron   D. Konecky
    	
 
    	
FF
    	
 
    	
—
    	
 
    	
29,200
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
29,200
    	
 
    	
0.04
    	
%
    	
29,200
    	
 
    	
0.0
    	
%
    
	
Stan   Katz
    	
 
    	
T
    	
 
    	
62,634
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
62,634
    	
 
    	
0.08
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Robert   Scinto
    	
 
    	
former
   landlord
    	
 
    	
56,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
56,000
    	
 
    	
0.07
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Tarrant   Venture Partners, L.P.
    	
 
    	
T
    	
 
    	
60,859
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
60,859
    	
 
    	
0.07
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
G&H   Partners
    	
 
    	
T
    	
 
    	
6,538
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
48,123
    	
 
    	
—
    	
 
    	
54,661
    	
 
    	
0.07
    	
%
    	
48,123
    	
 
    	
0.1
    	
%
    
	
Eric   Pias
    	
 
    	
FE
    	
 
    	
40,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
40,000
    	
 
    	
0.05
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
David   Toole
    	
 
    	
FE
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
39,219
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
39,219
    	
 
    	
0.05
    	
%
    	
39,219
    	
 
    	
0.1
    	
%
    
	
James   A. Star
    	
 
    	
T
    	
 
    	
1,928
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
34,943
    	
 
    	
2,980
    	
 
    	
39,851
    	
 
    	
0.05
    	
%
    	
37,923
    	
 
    	
0.1
    	
%
    
	
Jacques   Management, LLC
    	
 
    	
T
    	
 
    	
857
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
35,724
    	
 
    	
3,047
    	
 
    	
39,628
    	
 
    	
0.05
    	
%
    	
38,771
    	
 
    	
0.1
    	
%
    
	
David   Eldredge
    	
 
    	
FE
    	
 
    	
—
    	
 
    	
26,240
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
26,240
    	
 
    	
0.03
    	
%
    	
26,240
    	
 
    	
0.0
    	
%
    
	
Michael   Gorey
    	
 
    	
FE
    	
 
    	
27,500
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
27,500
    	
 
    	
0.03
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Denise   Nesi
    	
 
    	
FF
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Pacific   USA Design Group, Inc.
    	
 
    	
T
    	
 
    	
27,410
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
27,410
    	
 
    	
0.03
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Bank   of Southern Connecticut
    	
 
    	
former
   junior
   lender
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
James   Gammon
    	
 
    	
FE
    	
 
    	
19,999
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
19,999
    	
 
    	
0.02
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Frank   David Robertson
    	
 
    	
CE
    	
 
    	
1,400
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,400
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Richard   Duffy
    	
 
    	
FE
    	
 
    	
13,020
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
13,020
    	
 
    	
0.02
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Michael   Geier
    	
 
    	
FE
    	
 
    	
10,833
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
10,833
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
PowerBridge   LLC
    	
 
    	
former
   sub-debt
   lender
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Mark   Reddert & Trix Lee, as Community Property
    	
 
    	
T
    	
 
    	
9,135
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
9,135
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Peter   Lynch
    	
 
    	
FE
    	
 
    	
6,666
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
6,666
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Robert   M. Carter & Patrice R. Carter JTROS
    	
 
    	
T
    	
 
    	
6,890
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
6,890
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Walter   Fiederowicz
    	
 
    	
sub-debt
   lender
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Mary   Ann Lewis
    	
 
    	
FE
    	
 
    	
5,625
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,625
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Alan   D. Ferber
    	
 
    	
T
    	
 
    	
5,513
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,513
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Cheryl   Sennett
    	
 
    	
T
    	
 
    	
5,011
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,011
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Tim   Speevack
    	
 
    	
FE
    	
 
    	
3,791
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,791
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Yan   Jin
    	
 
    	
FE
    	
 
    	
3,541
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,541
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Yujin   Lee Kim
    	
 
    	
FE
    	
 
    	
2,916
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,916
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Murali   Chegu
    	
 
    	
FE
    	
 
    	
2,750
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,750
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Sushil   Kambampati
    	
 
    	
FE
    	
 
    	
2,560
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,560
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Tom   Beaumont
    	
 
    	
former
   sub-debt 
   lender
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Scott   Hudnall
    	
 
    	
FE
    	
 
    	
2,505
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,505
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    

 

 

	
 
    	
 
    	
ISSUED   AND OUTSTANDING WARRANTS
    	
 
    	
OUTSTANDING   
    	
 
    	
Fully   Diluted
    	
 
    
	
 
    	
 
    	
Common
   Stock
    	
 
    	
Series B
   Preferred
    	
 
    	
Series C
   Preferred
    	
 
    	
Series D
   Preferred
    	
 
    	
Series E
   Preferred
    	
 
    	
Series 1
   Preferred
    	
 
    	
Series 2
   Preferred
    	
 
    	
Series F
   Preferred
    	
 
    	
TOTAL
    	
 
    	
Stock
   Options
    	
 
    	
Shares
    	
 
    	
% Own
    	
 
    
	
Edison   Venture
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
17,639,456
    	
 
    	
16.27
    	
%
    
	
Sevin   Rosen
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
13,817,190
    	
 
    	
12.74
    	
%
    
	
North   Atlantic Capital
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
8,108,108
    	
 
    	
7.48
    	
%
    
	
Albert   R. Subbloie, Jr.
    	
 
    	
100,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
100,000
    	
 
    	
4,053,719
    	
 
    	
9,280,892
    	
 
    	
8.56
    	
%
    
	
HO2.1
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
4,402,773
    	
 
    	
4.06
    	
%
    
	
Axiom   Venture Partners III, L.P.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,636,984
    	
 
    	
3.35
    	
%
    
	
Teachers   Insurance and Annuity Association of America
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,541,836
    	
 
    	
3.27
    	
%
    
	
Investor   Growth Capital Limited
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
7,133,153
    	
 
    	
6.58
    	
%
    
	
Investor   Group, L.P.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,057,065
    	
 
    	
2.82
    	
%
    
	
InterNoded, Inc.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,952,673
    	
 
    	
1.80
    	
%
    
	
International   Business Machines Corporation
    	
 
    	
3,135,554
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,135,554
    	
 
    	
—
    	
 
    	
3,135,554
    	
 
    	
2.89
    	
%
    
	
Victor   J. Nesi
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,189,764
    	
 
    	
1.10
    	
%
    
	
Gary   R. Martino
    	
 
    	
5,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,000
    	
 
    	
1,480,000
    	
 
    	
2,821,850
    	
 
    	
2.60
    	
%
    
	
Charles   Gamble
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
475,800
    	
 
    	
1,201,622
    	
 
    	
1.11
    	
%
    
	
Paul   Schmidt
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
940,000
    	
 
    	
1,081,935
    	
 
    	
1.00
    	
%
    
	
CVF,   LLC
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
884,710
    	
 
    	
0.82
    	
%
    
	
Steven   Shwartz
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
665,000
    	
 
    	
1,215,782
    	
 
    	
1.12
    	
%
    
	
Albert   M. Rossini
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
742,857
    	
 
    	
1,178,500
    	
 
    	
1.09
    	
%
    
	
Leonard   J. Goldberg
    	
 
    	
2,500
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,500
    	
 
    	
—
    	
 
    	
567,850
    	
 
    	
0.52
    	
%
    
	
Joseph   M. Goldberg
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
528,900
    	
 
    	
0.49
    	
%
    
	
Christopher   T. Fraser
    	
 
    	
7,500
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
7,500
    	
 
    	
65,000
    	
 
    	
402,265
    	
 
    	
0.37
    	
%
    
	
Andrew   B. Esposito
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
50,000
    	
 
    	
400,000
    	
 
    	
0.37
    	
%
    
	
Kaufman   Family LLC
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
467,848
    	
 
    	
0.43
    	
%
    
	
Rae   Ko Fairfield
    	
 
    	
5,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,000
    	
 
    	
—
    	
 
    	
337,381
    	
 
    	
0.31
    	
%
    
	
Jana   Wilson
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
344,492
    	
 
    	
0.32
    	
%
    
	
James   Offerdahl
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
348,579
    	
 
    	
0.32
    	
%
    
	
Venture   Lending & Leasing IV, LLC
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
304,400
    	
 
    	
—
    	
 
    	
304,400
    	
 
    	
—
    	
 
    	
304,400
    	
 
    	
0.28
    	
%
    
	
Donna   Reis
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
300,000
    	
 
    	
0.28
    	
%
    
	
Gregory   Burkus
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
292,023
    	
 
    	
0.27
    	
%
    
	
Stephano   Kim
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
239,036
    	
 
    	
0.22
    	
%
    
	
ORIX   Venture Finance LLC
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
168,919
    	
 
    	
—
    	
 
    	
—
    	
 
    	
850,000
    	
 
    	
1,018,919
    	
 
    	
—
    	
 
    	
1,018,919
    	
 
    	
0.94
    	
%
    
	
Paul   White
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
167,228
    	
 
    	
0.15
    	
%
    
	
Bard   Financial Services, Inc. Profit Sharing Plan 
    	
 
    	
2,500
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,500
    	
 
    	
—
    	
 
    	
125,050
    	
 
    	
0.12
    	
%
    
	
Jay   Steinberg and Melanie Steinberg (JTWROS) 
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
123,000
    	
 
    	
0.11
    	
%
    
	
Kenneth   Spitzbard
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
121,073
    	
 
    	
0.11
    	
%
    
	
Scott   D. Porter 
    	
 
    	
2,500
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,500
    	
 
    	
—
    	
 
    	
95,505
    	
 
    	
0.09
    	
%
    
	
Comerica   Bank - California
    	
 
    	
—
    	
 
    	
—
    	
 
    	
15,000
    	
 
    	
28,238
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
43,238
    	
 
    	
—
    	
 
    	
43,238
    	
 
    	
0.04
    	
%
    
	
Comerica   Ventures Incorporated
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
43,372
    	
 
    	
0.04
    	
%
    
	
Jon   Gassett
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
100,000
    	
 
    	
128,800
    	
 
    	
0.12
    	
%
    
	
Daniel   Riscalla
    	
 
    	
80,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
80,000
    	
 
    	
—
    	
 
    	
80,000
    	
 
    	
0.07
    	
%
    
	
Christopher   DeBenedictis
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
100,000
    	
 
    	
127,844
    	
 
    	
0.12
    	
%
    
	
Subbloie   gift/family (see below)
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
70,000
    	
 
    	
0.06
    	
%
    
	
Vertex   Partners, L.P.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
77,261
    	
 
    	
0.07
    	
%
    
	
Joseph   R. LeMay, Jr.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
66,000
    	
 
    	
0.06
    	
%
    
	
Mark   Gorman
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
67,500
    	
 
    	
89,682
    	
 
    	
0.08
    	
%
    
	
Aaron   D. Konecky
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
29,200
    	
 
    	
0.03
    	
%
    
	
Stan   Katz
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
62,634
    	
 
    	
0.06
    	
%
    
	
Robert   Scinto
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
56,000
    	
 
    	
0.05
    	
%
    
	
Tarrant   Venture Partners, L.P.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
60,859
    	
 
    	
0.06
    	
%
    
	
G&H   Partners
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
54,661
    	
 
    	
0.05
    	
%
    
	
Eric   Pias
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
40,000
    	
 
    	
0.04
    	
%
    
	
David   Toole
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
39,219
    	
 
    	
0.04
    	
%
    
	
James   A. Star
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
39,851
    	
 
    	
0.04
    	
%
    
	
Jacques   Management, LLC
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
39,628
    	
 
    	
0.04
    	
%
    
	
David   Eldredge
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
26,240
    	
 
    	
0.02
    	
%
    
	
Michael   Gorey
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
27,500
    	
 
    	
0.03
    	
%
    
	
Denise   Nesi
    	
 
    	
37,500
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
37,500
    	
 
    	
—
    	
 
    	
37,500
    	
 
    	
0.03
    	
%
    
	
Pacific   USA Design Group, Inc.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
27,410
    	
 
    	
0.03
    	
%
    
	
Bank   of Southern Connecticut
    	
 
    	
20,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,000
    	
 
    	
—
    	
 
    	
20,000
    	
 
    	
0.02
    	
%
    
	
James   Gammon
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
19,999
    	
 
    	
0.02
    	
%
    
	
Frank   David Robertson
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
14,323
    	
 
    	
15,723
    	
 
    	
0.01
    	
%
    
	
Richard   Duffy
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
13,020
    	
 
    	
0.01
    	
%
    
	
Michael   Geier
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
10,833
    	
 
    	
0.01
    	
%
    
	
PowerBridge   LLC
    	
 
    	
10,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
10,000
    	
 
    	
—
    	
 
    	
10,000
    	
 
    	
0.01
    	
%
    
	
Mark   Reddert & Trix Lee, as Community Property
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
9,135
    	
 
    	
0.01
    	
%
    
	
Peter   Lynch
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
6,666
    	
 
    	
0.01
    	
%
    
	
Robert   M. Carter & Patrice R. Carter JTROS
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
6,890
    	
 
    	
0.01
    	
%
    
	
Walter   Fiederowicz
    	
 
    	
9,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
9,000
    	
 
    	
—
    	
 
    	
9,000
    	
 
    	
0.01
    	
%
    
	
Mary   Ann Lewis
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,625
    	
 
    	
0.01
    	
%
    
	
Alan   D. Ferber
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,513
    	
 
    	
0.01
    	
%
    
	
Cheryl   Sennett
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,011
    	
 
    	
0.00
    	
%
    
	
Tim   Speevack
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,791
    	
 
    	
0.00
    	
%
    
	
Yan   Jin
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,541
    	
 
    	
0.00
    	
%
    
	
Yujin   Lee Kim
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,916
    	
 
    	
0.00
    	
%
    
	
Murali   Chegu
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,750
    	
 
    	
0.00
    	
%
    
	
Sushil   Kambampati
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,560
    	
 
    	
0.00
    	
%
    
	
Tom   Beaumont
    	
 
    	
2,500
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,500
    	
 
    	
—
    	
 
    	
2,500
    	
 
    	
0.00
    	
%
    
	
Scott   Hudnall
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,505
    	
 
    	
0.00
    	
%
    

 

 

 

	
 
    	
 
    	
 
    	
 
    	
Issued and Outstanding Stock
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Shareholder
    	
 
    	
Status
    	
 
    	
Common
   Stock
    	
 
    	
Series A
   Preferred
    	
 
    	
Series B
   Preferred
    	
 
    	
Series C
   Preferred
    	
 
    	
Series D
   Preferred
    	
 
    	
Series D1
   Preferred
    	
 
    	
Series E
   Preferred
    	
 
    	
Series F
   Preferred
    	
 
    	
Series 1
   Preferred
    	
 
    	
Series 2
   Preferred
    	
 
    	
Total
    	
 
    	
% of
   Outstanding
    	
 
    	
Preferred
   Shares
    	
 
    	
%
   Pref
    	
 
    
	
Scott Hudnall
    	
 
    	
FE
    	
 
    	
2,505
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,505
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Dianne T. Cash
    	
 
    	
T
    	
 
    	
2,198
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,198
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Ben Michaud
    	
 
    	
FE
    	
 
    	
1,966
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,966
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Ken Tanoury
    	
 
    	
FE
    	
 
    	
1,770
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,770
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Fangping Chen
    	
 
    	
FE
    	
 
    	
1,624
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,624
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Payal Shah
    	
 
    	
FE
    	
 
    	
1,354
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,354
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Thomas Cullinane
    	
 
    	
FE
    	
 
    	
1,566
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,566
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Luana Vaupotic
    	
 
    	
FE
    	
 
    	
1,249
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,249
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Michael Paulsmeyer
    	
 
    	
FE
    	
 
    	
1,124
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,124
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Timothy Reidy &   Cynthia Reidy
    	
 
    	
T
    	
 
    	
1,100
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
8,089
    	
 
    	
—
    	
 
    	
9,189
    	
 
    	
0.01
    	
%
    	
8,089
    	
 
    	
0.0
    	
%
    
	
James Buckley
    	
 
    	
FE
    	
 
    	
937
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
937
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Jenny Hu
    	
 
    	
FE
    	
 
    	
625
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
625
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
William Marsh
    	
 
    	
FE
    	
 
    	
472,856
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
472,856
    	
 
    	
0.57
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Robert Whitmore
    	
 
    	
CE
    	
 
    	
78,124
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
78,124
    	
 
    	
0.09
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Terri Daniele
    	
 
    	
FE
    	
 
    	
5,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,000
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Schell Carpenter
    	
 
    	
FE
    	
 
    	
21,400
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
21,400
    	
 
    	
0.03
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Nathan Little
    	
 
    	
FE
    	
 
    	
24,009
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
24,009
    	
 
    	
0.03
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Jennifer Clower Brown
    	
 
    	
FE
    	
 
    	
8,911
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
8,911
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Jennifer Clower   Brown & Kenneth Brown, JTWROS
    	
 
    	
T
    	
 
    	
2,054
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,054
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Michael Cohen
    	
 
    	
FE
    	
 
    	
16,963
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
16,963
    	
 
    	
0.02
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Ray J. Sapinoro
    	
 
    	
T
    	
 
    	
10,152
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
10,152
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Sanjeev Archarya
    	
 
    	
FE
    	
 
    	
5,833
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,833
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Lawrence Seifert
    	
 
    	
FE
    	
 
    	
18,896
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
18,896
    	
 
    	
0.02
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Richard S. Pontin
    	
 
    	
D
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Scott E. Snyder
    	
 
    	
CE
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Christopher J.   Mezzatesta
    	
 
    	
CE
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Dennis Gorman
    	
 
    	
T
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
32,768
    	
 
    	
—
    	
 
    	
32,768
    	
 
    	
0.04
    	
%
    	
32,768
    	
 
    	
0.0
    	
%
    
	
Christine Antalik
    	
 
    	
FE
    	
 
    	
29,375
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
29,375
    	
 
    	
0.04
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Gerald G. Kokos
    	
 
    	
D
    	
 
    	
45,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
45,000
    	
 
    	
0.05
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Peter Taylor
    	
 
    	
FE
    	
 
    	
13,309
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
13,309
    	
 
    	
0.02
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Paul F. Reidy
    	
 
    	
T, FE
    	
 
    	
63,073
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,235
    	
 
    	
—
    	
 
    	
66,308
    	
 
    	
0.08
    	
%
    	
3,235
    	
 
    	
0.0
    	
%
    
	
Elizabeth T. Reidy
    	
 
    	
T
    	
 
    	
63,074
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,236
    	
 
    	
—
    	
 
    	
66,310
    	
 
    	
0.08
    	
%
    	
3,236
    	
 
    	
0.0
    	
%
    
	
VNAdvisors, LLC
    	
 
    	
FF
    	
 
    	
435,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
435,000
    	
 
    	
0.52
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Elizabeth Monaghan
    	
 
    	
T
    	
 
    	
1,477
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,477
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Rajiv Rawal
    	
 
    	
FE
    	
 
    	
70,462
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
70,462
    	
 
    	
0.08
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Santosh Kalki
    	
 
    	
FE
    	
 
    	
21,366
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
21,366
    	
 
    	
0.03
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Barnett L. Gershen
    	
 
    	
T
    	
 
    	
454
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,226
    	
 
    	
—
    	
 
    	
5,680
    	
 
    	
0.01
    	
%
    	
5,226
    	
 
    	
0.0
    	
%
    
	
Brian R. Smith
    	
 
    	
T
    	
 
    	
18,517
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
212,992
    	
 
    	
—
    	
 
    	
231,509
    	
 
    	
0.28
    	
%
    	
212,992
    	
 
    	
0.3
    	
%
    
	
Bruce E. Pendleton   Revocable Trust
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
Cedar Equities, LLC
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
Covenant   Foundation, Inc.
    	
 
    	
T
    	
 
    	
9,085
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
104,524
    	
 
    	
—
    	
 
    	
113,609
    	
 
    	
0.14
    	
%
    	
104,524
    	
 
    	
0.2
    	
%
    
	
Daniel H.   Bathon, Jr.
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
David Ford
    	
 
    	
T
    	
 
    	
454
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,226
    	
 
    	
—
    	
 
    	
5,680
    	
 
    	
0.01
    	
%
    	
5,226
    	
 
    	
0.0
    	
%
    
	
David L. Hatton
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
David M. Weekly
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
David Weekly Family   Foundation
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
Gary W. Junek and Lydia   G. Junek
    	
 
    	
T
    	
 
    	
454
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,226
    	
 
    	
—
    	
 
    	
5,680
    	
 
    	
0.01
    	
%
    	
5,226
    	
 
    	
0.0
    	
%
    
	
GEEJOHN LLC
    	
 
    	
T
    	
 
    	
454
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,226
    	
 
    	
—
    	
 
    	
5,680
    	
 
    	
0.01
    	
%
    	
5,226
    	
 
    	
0.0
    	
%
    
	
Geoffrey B. Hoese
    	
 
    	
T
    	
 
    	
909
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
10,452
    	
 
    	
—
    	
 
    	
11,361
    	
 
    	
0.01
    	
%
    	
10,452
    	
 
    	
0.0
    	
%
    
	
Henry James
    	
 
    	
T
    	
 
    	
9,256
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
106,497
    	
 
    	
—
    	
 
    	
115,753
    	
 
    	
0.14
    	
%
    	
106,497
    	
 
    	
0.2
    	
%
    
	
Hines Investment   Holdings LP
    	
 
    	
T
    	
 
    	
2,726
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
31,357
    	
 
    	
—
    	
 
    	
34,083
    	
 
    	
0.04
    	
%
    	
31,357
    	
 
    	
0.0
    	
%
    
	
JDC   Management, Inc.
    	
 
    	
T
    	
 
    	
9,256
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
106,497
    	
 
    	
—
    	
 
    	
115,753
    	
 
    	
0.14
    	
%
    	
106,497
    	
 
    	
0.2
    	
%
    
	
JMM PHLP, Ltd.
    	
 
    	
T
    	
 
    	
9,256
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
106,497
    	
 
    	
—
    	
 
    	
115,753
    	
 
    	
0.14
    	
%
    	
106,497
    	
 
    	
0.2
    	
%
    
	
James P. Wilson
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
Kenneth Rivera
    	
 
    	
T
    	
 
    	
909
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
10,452
    	
 
    	
—
    	
 
    	
11,361
    	
 
    	
0.01
    	
%
    	
10,452
    	
 
    	
0.0
    	
%
    
	
Willie Langston
    	
 
    	
T
    	
 
    	
4,088
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
47,036
    	
 
    	
—
    	
 
    	
51,124
    	
 
    	
0.06
    	
%
    	
47,036
    	
 
    	
0.1
    	
%
    
	
Robert Gauntt
    	
 
    	
T
    	
 
    	
4,088
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
47,036
    	
 
    	
—
    	
 
    	
51,124
    	
 
    	
0.06
    	
%
    	
47,036
    	
 
    	
0.1
    	
%
    
	
Kevin Lilly
    	
 
    	
T
    	
 
    	
909
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
10,452
    	
 
    	
—
    	
 
    	
11,361
    	
 
    	
0.01
    	
%
    	
10,452
    	
 
    	
0.0
    	
%
    
	
Nuevo Capital Partners,   LP
    	
 
    	
T
    	
 
    	
9,256
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
106,497
    	
 
    	
—
    	
 
    	
115,753
    	
 
    	
0.14
    	
%
    	
106,497
    	
 
    	
0.2
    	
%
    
	
RAM Funds Ltd.
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
Richard R. Arnoldy
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
Robert A. Shaheen
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
Robert E. Kresko   Revocable Trust DTD 12/22/94
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
Spaulding Investment   Limited Partnership
    	
 
    	
T
    	
 
    	
9,085
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
104,524
    	
 
    	
—
    	
 
    	
113,609
    	
 
    	
0.14
    	
%
    	
104,524
    	
 
    	
0.2
    	
%
    
	
ST Investments Limited   Partnership
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
Stephen J. Shaper
    	
 
    	
T
    	
 
    	
4,543
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
52,262
    	
 
    	
—
    	
 
    	
56,805
    	
 
    	
0.07
    	
%
    	
52,262
    	
 
    	
0.1
    	
%
    
	
Middlemarch Capital   Partners
    	
 
    	
T
    	
 
    	
88
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
985
    	
 
    	
—
    	
 
    	
1,073
    	
 
    	
0.00
    	
%
    	
985
    	
 
    	
0.0
    	
%
    
	
John Mansour Family   Limited Partnership
    	
 
    	
T
    	
 
    	
3,634
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
41,810
    	
 
    	
—
    	
 
    	
45,444
    	
 
    	
0.05
    	
%
    	
41,810
    	
 
    	
0.1
    	
%
    
	
Thomas A. Bailey
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
Thomas W.   Lyles, Jr.
    	
 
    	
T
    	
 
    	
545
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
6,271
    	
 
    	
—
    	
 
    	
6,816
    	
 
    	
0.01
    	
%
    	
6,271
    	
 
    	
0.0
    	
%
    
	
Mission City   Management, Inc.
    	
 
    	
T
    	
 
    	
171
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,973
    	
 
    	
—
    	
 
    	
2,144
    	
 
    	
0.00
    	
%
    	
1,973
    	
 
    	
0.0
    	
%
    
	
William R. Camp
    	
 
    	
T
    	
 
    	
3,634
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
41,810
    	
 
    	
—
    	
 
    	
45,444
    	
 
    	
0.05
    	
%
    	
41,810
    	
 
    	
0.1
    	
%
    
	
BF Private Capital, LP
    	
 
    	
T
    	
 
    	
727
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
8,362
    	
 
    	
—
    	
 
    	
9,089
    	
 
    	
0.01
    	
%
    	
8,362
    	
 
    	
0.0
    	
%
    
	
Stephen Yurco
    	
 
    	
T
    	
 
    	
363
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
4,181
    	
 
    	
—
    	
 
    	
4,544
    	
 
    	
0.01
    	
%
    	
4,181
    	
 
    	
0.0
    	
%
    
	
JAMA 1 Ltd.
    	
 
    	
T
    	
 
    	
182
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,090
    	
 
    	
—
    	
 
    	
2,272
    	
 
    	
0.00
    	
%
    	
2,090
    	
 
    	
0.0
    	
%
    
	
Z Start I, L.P.
    	
 
    	
T
    	
 
    	
1,817
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
20,905
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.03
    	
%
    	
20,905
    	
 
    	
0.0
    	
%
    
	
Graham C. Prudhomme
    	
 
    	
FE
    	
 
    	
18,451
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
18,451
    	
 
    	
0.02
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
James Smith
    	
 
    	
FE
    	
 
    	
16,833
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
16,833
    	
 
    	
0.02
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Steven Anderson
    	
 
    	
T, FE
    	
 
    	
110,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
110,000
    	
 
    	
0.13
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Allen R.   Neely & Pauline L. Neely, JTWROS
    	
 
    	
CE
    	
 
    	
1,353
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,353
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Craig Gosselin
    	
 
    	
FE
    	
 
    	
137,250
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
137,250
    	
 
    	
0.16
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Mark Justin Weller
    	
 
    	
FE
    	
 
    	
5,799
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,799
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Kerry   Clendinning & Katherine Clendinning, JTWROS
    	
 
    	
T
    	
 
    	
36,667
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
36,667
    	
 
    	
0.04
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Brandi Raye and Dustin   Raye, JTWROS
    	
 
    	
FE
    	
 
    	
10,648
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
10,648
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Neil Weiss
    	
 
    	
FE
    	
 
    	
267
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
267
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Kimberly King
    	
 
    	
FE
    	
 
    	
2,187
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,187
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Robert and Susan   Clewell, JTWROS
    	
 
    	
FF
    	
 
    	
12,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,000
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Kenneth and Janet   Martino, JTWROS
    	
 
    	
FF
    	
 
    	
12,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,000
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
William Martino
    	
 
    	
FF
    	
 
    	
12,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,000
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Robert Martino
    	
 
    	
FF
    	
 
    	
12,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,000
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
James Martino
    	
 
    	
FF
    	
 
    	
12,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,000
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Craig P. Sloan
    	
 
    	
T
    	
 
    	
4,011
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
4,011
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Edwin J. Reidy
    	
 
    	
T
    	
 
    	
1,319
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,319
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Ryan Stuart Johnson
    	
 
    	
CE
    	
 
    	
33,333
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
33,333
    	
 
    	
0.04
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Ursula Turner
    	
 
    	
FE
    	
 
    	
6,250
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
6,250
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Marsha Sargent
    	
 
    	
FE
    	
 
    	
291
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
291
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    

 

	
 
    	
 
    	
ISSUED AND OUTSTANDING WARRANTS
    	
 
    	
OUTSTANDING
    	
 
    	
Fully Diluted   
    	
 
    
	
Shareholder
    	
 
    	
Common
   Stock
    	
 
    	
Series B
   Preferred
    	
 
    	
Series C
   Preferred
    	
 
    	
Series D
   Preferred
    	
 
    	
Series E
   Preferred
    	
 
    	
Series 1
   Preferred
    	
 
    	
Series 2
   Preferred
    	
 
    	
Series F
   Preferred
    	
 
    	
TOTAL
    	
 
    	
Stock
   Options
    	
 
    	
Shares
    	
 
    	
% Own
    	
 
    
	
Scott Hudnall
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,505
    	
 
    	
0.00
    	
%
    
	
Dianne T. Cash
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,198
    	
 
    	
0.00
    	
%
    
	
Ben Michaud
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,966
    	
 
    	
0.00
    	
%
    
	
Ken Tanoury
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,770
    	
 
    	
0.00
    	
%
    
	
Fangping Chen
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,624
    	
 
    	
0.00
    	
%
    
	
Payal Shah
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,354
    	
 
    	
0.00
    	
%
    
	
Thomas Cullinane
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,566
    	
 
    	
0.00
    	
%
    
	
Luana Vaupotic
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,249
    	
 
    	
0.00
    	
%
    
	
Michael Paulsmeyer
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,124
    	
 
    	
0.00
    	
%
    
	
Timothy   Reidy & Cynthia Reidy
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
9,189
    	
 
    	
0.01
    	
%
    
	
James Buckley
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
937
    	
 
    	
0.00
    	
%
    
	
Jenny Hu
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
625
    	
 
    	
0.00
    	
%
    
	
William Marsh
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
472,856
    	
 
    	
0.44
    	
%
    
	
Robert Whitmore
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
496,876
    	
 
    	
575,000
    	
 
    	
0.53
    	
%
    
	
Terri Daniele
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,000
    	
 
    	
0.00
    	
%
    
	
Schell Carpenter
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
21,400
    	
 
    	
0.02
    	
%
    
	
Nathan Little
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
24,009
    	
 
    	
0.02
    	
%
    
	
Jennifer Clower Brown
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
8,911
    	
 
    	
0.01
    	
%
    
	
Jennifer   Clower Brown & Kenneth Brown, JTWROS
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,054
    	
 
    	
0.00
    	
%
    
	
Michael Cohen
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
16,963
    	
 
    	
0.02
    	
%
    
	
Ray J. Sapinoro
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
10,152
    	
 
    	
0.01
    	
%
    
	
Sanjeev Archarya
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,833
    	
 
    	
0.01
    	
%
    
	
Lawrence Seifert
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
18,896
    	
 
    	
0.02
    	
%
    
	
Richard S. Pontin
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,089,829
    	
 
    	
1,089,829
    	
 
    	
1.01
    	
%
    
	
Scott E. Snyder
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
996,014
    	
 
    	
996,014
    	
 
    	
0.92
    	
%
    
	
Christopher J.   Mezzatesta
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
579,898
    	
 
    	
579,898
    	
 
    	
0.53
    	
%
    
	
Dennis Gorman
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
32,768
    	
 
    	
0.03
    	
%
    
	
Christine Antalik
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
29,375
    	
 
    	
0.03
    	
%
    
	
Gerald G. Kokos
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
382,500
    	
 
    	
427,500
    	
 
    	
0.39
    	
%
    
	
Peter Taylor
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
13,309
    	
 
    	
0.01
    	
%
    
	
Paul F. Reidy
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
66,308
    	
 
    	
0.06
    	
%
    
	
Elizabeth T. Reidy
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
66,310
    	
 
    	
0.06
    	
%
    
	
VNAdvisors, LLC
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
435,000
    	
 
    	
0.40
    	
%
    
	
Elizabeth Monaghan
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,477
    	
 
    	
0.00
    	
%
    
	
Rajiv Rawal
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
70,462
    	
 
    	
0.06
    	
%
    
	
Santosh Kalki
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
21,366
    	
 
    	
0.02
    	
%
    
	
Barnett L. Gershen
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,680
    	
 
    	
0.01
    	
%
    
	
Brian R. Smith
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
231,509
    	
 
    	
0.21
    	
%
    
	
Bruce E. Pendleton   Revocable Trust
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
Cedar Equities, LLC
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
Covenant   Foundation, Inc.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
113,609
    	
 
    	
0.10
    	
%
    
	
Daniel H.   Bathon, Jr.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
David Ford
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,680
    	
 
    	
0.01
    	
%
    
	
David L. Hatton
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
David M. Weekly
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
David Weekly Family   Foundation
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
Gary W. Junek and Lydia   G. Junek
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,680
    	
 
    	
0.01
    	
%
    
	
GEEJOHN LLC
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,680
    	
 
    	
0.01
    	
%
    
	
Geoffrey B. Hoese
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
11,361
    	
 
    	
0.01
    	
%
    
	
Henry James
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
115,753
    	
 
    	
0.11
    	
%
    
	
Hines Investment   Holdings LP
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
34,083
    	
 
    	
0.03
    	
%
    
	
JDC   Management, Inc.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
115,753
    	
 
    	
0.11
    	
%
    
	
JMM PHLP, Ltd.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
115,753
    	
 
    	
0.11
    	
%
    
	
James P. Wilson
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
Kenneth Rivera
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
11,361
    	
 
    	
0.01
    	
%
    
	
Willie Langston
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
51,124
    	
 
    	
0.05
    	
%
    
	
Robert Gauntt
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
51,124
    	
 
    	
0.05
    	
%
    
	
Kevin Lilly
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
11,361
    	
 
    	
0.01
    	
%
    
	
Nuevo Capital Partners,   LP
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
115,753
    	
 
    	
0.11
    	
%
    
	
RAM Funds Ltd.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
Richard R. Arnoldy
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
Robert A. Shaheen
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
Robert E. Kresko   Revocable Trust DTD 12/22/94
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
Spaulding Investment   Limited Partnership
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
113,609
    	
 
    	
0.10
    	
%
    
	
ST Investments Limited   Partnership
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
Stephen J. Shaper
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
56,805
    	
 
    	
0.05
    	
%
    
	
Middlemarch Capital   Partners
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,073
    	
 
    	
0.00
    	
%
    
	
John Mansour Family   Limited Partnership
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
45,444
    	
 
    	
0.04
    	
%
    
	
Thomas A. Bailey
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
Thomas W.   Lyles, Jr.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
6,816
    	
 
    	
0.01
    	
%
    
	
Mission City   Management, Inc.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,144
    	
 
    	
0.00
    	
%
    
	
William R. Camp
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
45,444
    	
 
    	
0.04
    	
%
    
	
BF Private Capital, LP
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
9,089
    	
 
    	
0.01
    	
%
    
	
Stephen Yurco
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
4,544
    	
 
    	
0.00
    	
%
    
	
JAMA 1 Ltd.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,272
    	
 
    	
0.00
    	
%
    
	
Z Start I, L.P.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
22,722
    	
 
    	
0.02
    	
%
    
	
Graham C. Prudhomme
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
18,451
    	
 
    	
0.02
    	
%
    
	
James Smith
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
16,833
    	
 
    	
0.02
    	
%
    
	
Steven Anderson
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
110,000
    	
 
    	
0.10
    	
%
    
	
Allen R.   Neely & Pauline L. Neely, JTWROS
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,353
    	
 
    	
0.00
    	
%
    
	
Craig Gosselin
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
137,250
    	
 
    	
0.13
    	
%
    
	
Mark Justin Weller
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,799
    	
 
    	
0.01
    	
%
    
	
Kerry   Clendinning & Katherine Clendinning, JTWROS
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
36,667
    	
 
    	
0.03
    	
%
    
	
Brandi Raye and Dustin   Raye, JTWROS
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
10,648
    	
 
    	
0.01
    	
%
    
	
Neil Weiss
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
267
    	
 
    	
0.00
    	
%
    
	
Kimberly King
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
2,187
    	
 
    	
0.00
    	
%
    
	
Robert and Susan   Clewell, JTWROS
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,000
    	
 
    	
0.01
    	
%
    
	
Kenneth and Janet   Martino, JTWROS
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,000
    	
 
    	
0.01
    	
%
    
	
William Martino
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,000
    	
 
    	
0.01
    	
%
    
	
Robert Martino
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,000
    	
 
    	
0.01
    	
%
    
	
James Martino
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,000
    	
 
    	
0.01
    	
%
    
	
Craig P. Sloan
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
4,011
    	
 
    	
0.00
    	
%
    
	
Edwin J. Reidy
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,319
    	
 
    	
0.00
    	
%
    
	
Ryan Stuart Johnson
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
46,667
    	
 
    	
80,000
    	
 
    	
0.07
    	
%
    
	
Ursula Turner
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
6,250
    	
 
    	
0.01
    	
%
    
	
Marsha Sargent
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
291
    	
 
    	
0.00
    	
%
    

 

 

TANGOE, INC.

CAP TABLE

AS OF DECEMBER 31, 2010

 

	
 
    	
 
    	
 
    	
 
    	
Issued and Outstanding   Stock
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Shareholder
    	
 
    	
Status
    	
 
    	
Common
   Stock
    	
 
    	
Series A
   Preferred
    	
 
    	
Series B
   Preferred
    	
 
    	
Series C
   Preferred
    	
 
    	
Series D
   Preferred
    	
 
    	
Series D1
   Preferred
    	
 
    	
Series E
   Preferred
    	
 
    	
Series F
   Preferred
    	
 
    	
Series 1
   Preferred
    	
 
    	
Series 2
   Preferred
    	
 
    	
Total
    	
 
    	
% of
   Outstanding
    	
 
    	
Preferred
   Shares
    	
 
    	
% Pref
    	
 
    
	
James F. Rhodes,   Custodian for Susan Sheryl Rhodes UGTMA
    	
 
    	
T
    	
 
    	
6,786
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
6,786
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
James F. Rhodes
    	
 
    	
T
    	
 
    	
6,786
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
25,054
    	
 
    	
2,137
    	
 
    	
33,977
    	
 
    	
0.04
    	
%
    	
27,191
    	
 
    	
0.0
    	
%
    
	
Harvey B. Cash
    	
 
    	
T
    	
 
    	
14,090
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
47,708
    	
 
    	
62,634
    	
 
    	
124,432
    	
 
    	
0.15
    	
%
    	
110,342
    	
 
    	
0.2
    	
%
    
	
David Berten
    	
 
    	
T
    	
 
    	
1,071
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
7,882
    	
 
    	
—
    	
 
    	
8,953
    	
 
    	
0.01
    	
%
    	
7,882
    	
 
    	
0.0
    	
%
    
	
Charles Cash
    	
 
    	
T
    	
 
    	
2,142
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
15,764
    	
 
    	
—
    	
 
    	
17,906
    	
 
    	
0.02
    	
%
    	
15,764
    	
 
    	
0.0
    	
%
    
	
Ted Colbert
    	
 
    	
T
    	
 
    	
7,126
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
7,126
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Amy Hardison
    	
 
    	
T
    	
 
    	
4,175
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
4,175
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
J.J. Locy Limited   Partnership
    	
 
    	
T
    	
 
    	
12,527
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,527
    	
 
    	
0.02
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Kelly R. Looney
    	
 
    	
T
    	
 
    	
15,658
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
15,658
    	
 
    	
0.02
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
John Merritt
    	
 
    	
former
   director
    	
 
    	
51,426
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
51,426
    	
 
    	
0.06
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Jessica Mitchell
    	
 
    	
T
    	
 
    	
1,929
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,929
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Kevin Mulvey
    	
 
    	
T
    	
 
    	
5,066
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,066
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Vihba Patel
    	
 
    	
T
    	
 
    	
1,826
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,826
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
John P. Reidy
    	
 
    	
T
    	
 
    	
438
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,227
    	
 
    	
—
    	
 
    	
3,665
    	
 
    	
0.00
    	
%
    	
3,227
    	
 
    	
0.0
    	
%
    
	
Matthew Kane
    	
 
    	
CE
    	
 
    	
42,857
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
42,857
    	
 
    	
0.05
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Courtney Jackson
    	
 
    	
FE
    	
 
    	
3,437
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,437
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Jagdeep S. Sandhu   & Gurpinder Kaur, JTWROS
    	
 
    	
CE
    	
 
    	
750
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
750
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Jackie Halpern
    	
 
    	
FE
    	
 
    	
271
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
271
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Raj Subramaniam   & Meera Rajagopal, JTWROS
    	
 
    	
CE
    	
 
    	
5,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,000
    	
 
    	
0.01
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Jennifer Davey
    	
 
    	
FE
    	
 
    	
15,312
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
15,312
    	
 
    	
0.02
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Abel Garcia, Jr.   & Peggy Garcia, JTWROS
    	
 
    	
CE
    	
 
    	
501
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
501
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Andrew Michael   Esposito
    	
 
    	
FF
    	
 
    	
25,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
25,000
    	
 
    	
0.03
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Matthew Joseph   Esposito
    	
 
    	
FF
    	
 
    	
25,000
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
25,000
    	
 
    	
0.03
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Anthony Cone
    	
 
    	
FE
    	
 
    	
15,104
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
15,104
    	
 
    	
0.02
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Krista Marie Zink
    	
 
    	
CE
    	
 
    	
545
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
545
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Doug Zalkovsky
    	
 
    	
FE
    	
 
    	
531
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
531
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Brian Prokaski
    	
 
    	
FE
    	
 
    	
833
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
833
    	
 
    	
0.00
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Jennifer Williams   & Marty Williams
    	
 
    	
FE
    	
 
    	
54,783
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
54,783
    	
 
    	
0.07
    	
%
    	
—
    	
 
    	
0.0
    	
%
    
	
Total   Issued and Outstanding
    	
 
    	
16,369,834
    	
 
    	
1,928,479
    	
 
    	
8,395,086
    	
 
    	
4,099,539
    	
 
    	
2,961,881
    	
 
    	
4,235,759
    	
 
    	
10,810,810
    	
 
    	
10,190,218
    	
 
    	
21,856,825
    	
 
    	
2,505,354
    	
 
    	
83,353,785
    	
 
    	
 
    	
 
    	
66,983,951
    	
 
    	
100.0
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
OPTIONS   OUTSTANDING BUT NOT LISTED ON THIS CAP TABLE
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
OPTIONS   AVAILABLE TO BE ISSUED
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
TOTAL   SHARES
    	
 
    	
 
    	
 
    	
16,369,834
    	
 
    	
1,928,479
    	
 
    	
8,395,086
    	
 
    	
4,099,539
    	
 
    	
2,961,881
    	
 
    	
4,235,759
    	
 
    	
10,810,810
    	
 
    	
10,190,218
    	
 
    	
21,856,825
    	
 
    	
2,505,354
    	
 
    	
83,353,785
    	
 
    	
 
    	
 
    	
66,983,951
    	
 
    	
100.0
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

 

	
 
    	
 
    	
 
    	
 
    	
Common
   Stock
    	
 
    	
Series   A
   Preferred
    	
 
    	
Series   B
   Preferred
    	
 
    	
Series   C
   Preferred
    	
 
    	
Series   D
   Preferred
    	
 
    	
Series   D1
   Preferred
    	
 
    	
Series   E
   Preferred
    	
 
    	
Series   F
   Preferred
    	
 
    	
Series   1
   Preferred
    	
 
    	
Series   2
   Preferred
    	
 
    	
Total
   Shares
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
FULLY   DILUTED
    	
 
    	
 
    	
 
    	
40,081,085
    	
 
    	
1,928,479
    	
 
    	
8,395,086
    	
 
    	
4,114,539
    	
 
    	
2,990,119
    	
 
    	
4,235,759
    	
 
    	
10,979,729
    	
 
    	
11,040,218
    	
 
    	
21,856,825
    	
 
    	
2,809,754
    	
 
    	
108,431,593
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
%   FULLY DILUTED 
    	
 
    	
 
    	
 
    	
36.96
    	
%
    	
1.78
    	
%
    	
7.74
    	
%
    	
3.79
    	
%
    	
2.76
    	
%
    	
3.91
    	
%
    	
10.13
    	
%
    	
10.18
    	
%
    	
20.16
    	
%
    	
2.59
    	
%
    	
100.00
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total   shares to reserve for
    	
 
    	
 
    	
 
    	
116,560,808
    	
 
    	
1,928,479
    	
 
    	
8,395,086
    	
 
    	
4,114,539
    	
 
    	
2,990,119
    	
 
    	
4,235,759
    	
 
    	
10,979,729
    	
 
    	
11,040,218
    	
 
    	
21,856,825
    	
 
    	
2,809,754
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total shares authorized by certificate
    	
 
    	
120,400,000
    	
 
    	
3,780,000
    	
 
    	
8,407,642
    	
 
    	
4,114,539
    	
 
    	
2,990,119
    	
 
    	
4,235,759
    	
 
    	
10,979,729
    	
 
    	
11,040,218
    	
 
    	
21,863,424
    	
 
    	
2,809,754
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

	
Subbloie Gift/family details:
    	
 
    	
# of   common
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Shareholder
    	
 
    	
shares
    	
 
    	
certif   date
    	
 
    	
certif #
    	
 
    	
 
    	
 
    	
* IBM   Reserved Shares:
    	
 
    	
8,129,215
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Albert   R. Subbloie, Sr.
    	
 
    	
 
    	
 
    	
15,000
    	
 
    	
8/8/2002 8/4/2009
    	
 
    	
78
    292
    	
 
    	
 
    	
 
    	
Add'l   warrant shares may become vested based on performance milestones
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Mary   Subbloie
    	
 
    	
 
    	
 
    	
15,000
    	
 
    	
8/8/2002 8/4/2009
    	
 
    	
79
    293
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Louis C.   Fenney
    	
 
    	
 
    	
 
    	
3,000
    	
 
    	
8/8/2002
    	
 
    	
80
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Lauren   Loro
    	
 
    	
 
    	
 
    	
3,000
    	
 
    	
8/8/2002
    	
 
    	
81
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Elizabeth   Harlow
    	
 
    	
 
    	
 
    	
3,000
    	
 
    	
8/8/2002
    	
 
    	
82
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jud   Smith
    	
 
    	
 
    	
 
    	
2,000
    	
 
    	
8/8/2002
    	
 
    	
83
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Bill   Schaufler Jr.
    	
 
    	
 
    	
 
    	
2,000
    	
 
    	
8/8/2002
    	
 
    	
84
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Steve   Guglielmo
    	
 
    	
 
    	
 
    	
2,000
    	
 
    	
8/8/2002
    	
 
    	
85
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Tom   Simonetti
    	
 
    	
 
    	
 
    	
1,500
    	
 
    	
8/8/2002
    	
 
    	
86
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Elizabeth   Simonetti
    	
 
    	
 
    	
 
    	
1,500
    	
 
    	
8/8/2002
    	
 
    	
87
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Linda   Subbloie
    	
 
    	
 
    	
 
    	
10,000
    	
 
    	
8/8/2002
    	
 
    	
88
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
George   Skovran
    	
 
    	
 
    	
 
    	
3,000
    	
 
    	
8/8/2002
    	
 
    	
89
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Mike   Sokoloff
    	
 
    	
 
    	
 
    	
2,000
    	
 
    	
8/8/2002
    	
 
    	
90
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Dan   Simonetti
    	
 
    	
 
    	
 
    	
1,000
    	
 
    	
8/8/2002
    	
 
    	
91
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Anthony   Simonetti
    	
 
    	
 
    	
 
    	
1,000
    	
 
    	
8/8/2002
    	
 
    	
92
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Janice   Simonetti
    	
 
    	
 
    	
 
    	
1,000
    	
 
    	
8/8/2002
    	
 
    	
93
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Deborah   Simonetti
    	
 
    	
 
    	
 
    	
1,000
    	
 
    	
8/8/2002
    	
 
    	
94
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Melissa   Simonetti
    	
 
    	
 
    	
 
    	
1,000
    	
 
    	
8/8/2002
    	
 
    	
95
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Tom   Simonetti
    	
 
    	
 
    	
 
    	
1,000
    	
 
    	
8/8/2002
    	
 
    	
96
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Nick   Simonetti
    	
 
    	
 
    	
 
    	
1,000
    	
 
    	
8/8/2002
    	
 
    	
97
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Subbloie   Gift totals
    	
 
    	
 
    	
 
    	
70,000
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

 

	
 
    	
 
    	
ISSUED AND OUTSTANDING   WARRANTS
    	
 
    	
OUTSTANDING 
    	
 
    	
Fully Diluted
    	
 
    
	
 
    	
 
    	
Common
   Stock
    	
 
    	
Series B
   Preferred
    	
 
    	
Series C
   Preferred
    	
 
    	
Series D
   Preferred
    	
 
    	
Series E
   Preferred
    	
 
    	
Series 1
   Preferred
    	
 
    	
Series 2
   Preferred
    	
 
    	
Series F
   Preferred
    	
 
    	
TOTAL
    	
 
    	
Stock
   Options
    	
 
    	
Shares
    	
 
    	
% Own
    	
 
    
	
James F. Rhodes,   Custodian for Susan Sheryl Rhodes UGTMA
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
6,786
    	
 
    	
0.01
    	
%
    
	
James F. Rhodes
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
33,977
    	
 
    	
0.03
    	
%
    
	
Harvey B. Cash
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
124,432
    	
 
    	
0.11
    	
%
    
	
David Berten
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
8,953
    	
 
    	
0.01
    	
%
    
	
Charles Cash
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
17,906
    	
 
    	
0.02
    	
%
    
	
Ted Colbert
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
7,126
    	
 
    	
0.01
    	
%
    
	
Amy Hardison
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
4,175
    	
 
    	
0.00
    	
%
    
	
J.J. Locy Limited   Partnership
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
12,527
    	
 
    	
0.01
    	
%
    
	
Kelly R. Looney
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
15,658
    	
 
    	
0.01
    	
%
    
	
John Merritt
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
62,634
    	
 
    	
114,060
    	
 
    	
0.11
    	
%
    
	
Jessica Mitchell
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,929
    	
 
    	
0.00
    	
%
    
	
Kevin Mulvey
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,066
    	
 
    	
0.00
    	
%
    
	
Vihba Patel
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,826
    	
 
    	
0.00
    	
%
    
	
John P. Reidy
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,665
    	
 
    	
0.00
    	
%
    
	
Matthew Kane
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
177,143
    	
 
    	
220,000
    	
 
    	
0.20
    	
%
    
	
Courtney Jackson
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
3,437
    	
 
    	
0.00
    	
%
    
	
Jagdeep S. Sandhu   & Gurpinder Kaur, JTWROS
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
750
    	
 
    	
0.00
    	
%
    
	
Jackie Halpern
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
271
    	
 
    	
0.00
    	
%
    
	
Raj Subramaniam   & Meera Rajagopal, JTWROS
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
5,000
    	
 
    	
0.00
    	
%
    
	
Jennifer Davey
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
15,312
    	
 
    	
0.01
    	
%
    
	
Abel Garcia, Jr.   & Peggy Garcia, JTWROS
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
501
    	
 
    	
0.00
    	
%
    
	
Andrew Michael   Esposito
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
25,000
    	
 
    	
0.02
    	
%
    
	
Matthew Joseph   Esposito
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
25,000
    	
 
    	
0.02
    	
%
    
	
Anthony Cone
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
15,104
    	
 
    	
0.01
    	
%
    
	
Krista Marie Zink
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
39,072
    	
 
    	
39,617
    	
 
    	
0.04
    	
%
    
	
Doug Zalkovsky
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
531
    	
 
    	
0.00
    	
%
    
	
Brian Prokaski
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
833
    	
 
    	
0.00
    	
%
    
	
Jennifer Williams   & Marty Williams
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
54,783
    	
 
    	
0.05
    	
%
    
	
 
    	
 
    	
3,419,554
    	
 
    	
—
    	
 
    	
15,000
    	
 
    	
28,238
    	
 
    	
168,919
    	
 
    	
—
    	
 
    	
304,400
    	
 
    	
850,000
    	
 
    	
4,786,111
    	
 
    	
12,624,832
    	
 
    	
100,764,728
    	
 
    	
92.93
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
7,379,432
    	
 
    	
7,379,432
    	
 
    	
6.81
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
287,433
    	
 
    	
287,433
    	
 
    	
0.27
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
3,419,554
    	
 
    	
—
    	
 
    	
15,000
    	
 
    	
28,238
    	
 
    	
168,919
    	
 
    	
—
    	
 
    	
304,400
    	
 
    	
850,000
    	
 
    	
4,786,111
    	
 
    	
20,291,697
    	
 
    	
108,431,593
    	
 
    	
100.00
    	
%
    

 

 

TANGOE, INC.

CAP TABLE

AS OF DECEMBER 31, 2010

 

	
Edison Venture Outstanding details:
    	
 
    	
 
    	
 
    	
Common
   Stock
    	
 
    	
Series A
   Preferred
    	
 
    	
Series B
   Preferred
    	
 
    	
Series C
   Preferred
    	
 
    	
Series D
   Preferred
    	
 
    	
Series D1
   Preferred
    	
 
    	
Series E
   Preferred
    	
 
    	
 
    	
 
    	
Series 1
   Preferred
    	
 
    	
Series 2
   Preferred
    	
 
    	
Total
    	
 
    	
 
    	
 
    	
Preferred
   shs
    	
 
    	
%
    	
 
    
	
Edison Venture   Fund IV L.P.
    	
 
    	
 
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
1,529,573
    	
 
    	
1,568,800
    	
 
    	
1,331,081
    	
 
    	
 
    	
 
    	
—
    	
 
    	
—
    	
 
    	
4,429,454
    	
 
    	
 
    	
 
    	
4,429,454
    	
 
    	
 
    	
 
    
	
Edison Venture   Fund IV SBIC, L.P.
    	
 
    	
 
    	
 
    	
—
    	
 
    	
—
    	
 
    	
8,170,464
    	
 
    	
3,823,724
    	
 
    	
1,215,814
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
—
    	
 
    	
—
    	
 
    	
13,210,002
    	
 
    	
 
    	
 
    	
13,210,002
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
—
    	
 
    	
—
    	
 
    	
8,170,464
    	
 
    	
3,823,724
    	
 
    	
2,745,387
    	
 
    	
1,568,800
    	
 
    	
1,331,081
    	
 
    	
 
    	
 
    	
—
    	
 
    	
—
    	
 
    	
17,639,456
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
HO2.1 Group Outstanding Shares details:
    	
 
    	
 
    	
 
    	
Common
   Stock
    	
 
    	
Series   A
   Preferred
    	
 
    	
Series   B
   Preferred
    	
 
    	
Series   C
   Preferred
    	
 
    	
Series   D
   Preferred
    	
 
    	
Series   D1
   Preferred
    	
 
    	
Series   E
   Preferred
    	
 
    	
 
    	
 
    	
Series   1
   Preferred
    	
 
    	
Series   2 
   Preferred
    	
 
    	
Total
    	
 
    	
 
    	
 
    	
shs
    	
 
    	
%
    	
 
    
	
HO2.1 Fund, L.P.
    	
 
    	
 
    	
 
    	
237,578
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
3,464,124
    	
 
    	
—
    	
 
    	
3,701,702
    	
 
    	
 
    	
 
    	
3701702
    	
 
    	
 
    	
 
    
	
HO2.1 Affiliates   Fund, L.P.
    	
 
    	
 
    	
 
    	
16,355
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
238,445
    	
 
    	
—
    	
 
    	
254,800
    	
 
    	
 
    	
 
    	
254800
    	
 
    	
 
    	
 
    
	
HO2.1 Annex Fund,   L.P.
    	
 
    	
 
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
446,271
    	
 
    	
—
    	
 
    	
446,271
    	
 
    	
 
    	
 
    	
446271
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
253,933
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
4,148,840
    	
 
    	
—
    	
 
    	
4,402,773
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sevin Rosen Group Outstanding Shares details:
    	
 
    	
 
    	
 
    	
Common
   Stock
    	
 
    	
Series   A
   Preferred
    	
 
    	
Series   B 
   Preferred
    	
 
    	
Series   C 
   Preferred
    	
 
    	
Series   D 
   Preferred
    	
 
    	
Series   D1 
   Preferred
    	
 
    	
Series   E 
   Preferred
    	
 
    	
 
    	
 
    	
Series   1 
   Preferred
    	
 
    	
Series   2 
   Preferred
    	
 
    	
Total
    	
 
    	
 
    	
 
    	
shs
    	
 
    	
%
    	
 
    
	
Sevin Rosen Fund   VI L.P.
    	
 
    	
 
    	
 
    	
281,226
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
5,598,525
    	
 
    	
—
    	
 
    	
5,879,751
    	
 
    	
 
    	
 
    	
5,598,525
    	
 
    	
 
    	
 
    
	
Sevin Rosen VI   Affiliates Fund L.P.
    	
 
    	
 
    	
 
    	
22,149
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
440,876
    	
 
    	
—
    	
 
    	
463,025
    	
 
    	
 
    	
 
    	
440,876
    	
 
    	
 
    	
 
    
	
Sevin Rosen Fund   VIII, L.P.
    	
 
    	
 
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
4,998,240
    	
 
    	
2,321,036
    	
 
    	
7,319,276
    	
 
    	
 
    	
 
    	
7,319,276
    	
 
    	
 
    	
 
    
	
Sevin Rosen VIII   Affiliates Fund, L.P.
    	
 
    	
 
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
102,005
    	
 
    	
47,367
    	
 
    	
149,372
    	
 
    	
 
    	
 
    	
149,372
    	
 
    	
 
    	
 
    
	
Sevin Rosen   Bayless Management Company
    	
 
    	
 
    	
 
    	
660
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
5,106
    	
 
    	
—
    	
 
    	
5,766
    	
 
    	
 
    	
 
    	
5,106
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
304,035
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
11,144,752
    	
 
    	
2,368,403
    	
 
    	
13,817,190
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

 

	
Edison Venture Outstanding details:
    	
 
    	
 
    	
 
    	
Shares
    	
 
    	
% Own
    	
 
    	
% actual 
   outstanding
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Edison Venture   Fund IV L.P.
    	
 
    	
 
    	
 
    	
4,429,454
    	
 
    	
4.09
    	
%
    	
5.31
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Edison Venture   Fund IV SBIC, L.P.
    	
 
    	
 
    	
 
    	
13,210,002
    	
 
    	
12.18
    	
%
    	
15.85
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
16.27
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
HO2.1 Group Outstanding Shares details:
    	
 
    	
 
    	
 
    	
Shares
    	
 
    	
% Own
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
HO2.1 Fund, L.P.
    	
 
    	
 
    	
 
    	
3,701,702
    	
 
    	
3.41
    	
%
    	
4.44
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
HO2.1 Affiliates   Fund, L.P.
    	
 
    	
 
    	
 
    	
254,800
    	
 
    	
0.23
    	
%
    	
0.31
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
HO2.1 Annex Fund,   L.P.
    	
 
    	
 
    	
 
    	
446,271
    	
 
    	
0.41
    	
%
    	
0.54
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
4,402,773
    	
 
    	
4.06
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sevin Rosen Group Outstanding Shares details:
    	
 
    	
 
    	
 
    	
Shares
    	
 
    	
% Own
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sevin Rosen Fund   VI L.P.
    	
 
    	
 
    	
 
    	
5,879,751
    	
 
    	
5.42
    	
%
    	
7.05
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sevin Rosen VI   Affiliates Fund L.P.
    	
 
    	
 
    	
 
    	
463,025
    	
 
    	
0.43
    	
%
    	
0.56
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sevin Rosen Fund   VIII, L.P.
    	
 
    	
 
    	
 
    	
7,319,276
    	
 
    	
6.75
    	
%
    	
8.78
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sevin Rosen VIII   Affiliates Fund, L.P.
    	
 
    	
 
    	
 
    	
149,372
    	
 
    	
0.14
    	
%
    	
0.18
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sevin Rosen   Bayless Management Company
    	
 
    	
 
    	
 
    	
5,766
    	
 
    	
0.01
    	
%
    	
0.01
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
13,817,190
    	
 
    	
12.74
    	
%Exhibit 10.35

 

Confidential Materials omitted and filed separately with the

Securities and Exchange Commission. Asterisks denote omissions.

 

THE OFFER AND SALE OF THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE.  NEITHER THIS WARRANT OR SUCH SECURITIES MAY BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED WITHOUT (1) COMPLIANCE WITH THE REGISTRATION PROVISIONS OF SUCH ACT AND APPLICABLE STATE SECURITIES LAWS, (2) AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT REGISTRATION UNDER SUCH PROVISIONS IS NOT REQUIRED OR (3) A NO-ACTION LETTER TO THAT EFFECT FROM THE SECURITIES AND EXCHANGE COMMISSION WITH RESPECT TO SUCH ACT AND AN OPINION OF COUNSEL TO SUCH EFFECT WITH RESPECT TO APPLICABLE STATE SECURITIES LAWS.

 

WARRANT TO PURCHASE COMMON STOCK

 

of

 

Tangoe, Inc.

 

This Warrant to Purchase Common Stock (this “Warrant”) is issued to Dell Products L.P., a Texas limited partnership (“the Holder”), by Tangoe, Inc., a Delaware corporation (the “Company”), on March 22, 2011 (the “Warrant Issue Date”), and entitles Dell Products L.P. or any permitted transferee of all or a portion of this Warrant pursuant to Section 10 (in either case, the “Holder”) to purchase shares of the Company’s common stock, par value $0.0001 per share (“Company Common Stock”), upon the terms and subject to the conditions hereinafter set forth.

 

1.                                      Right to Purchase Shares.  Subject to the terms and conditions hereinafter set forth, the Holder is entitled to purchase from the Company up to 4,517,983 shares of Company Common Stock (the “Warrant Shares”), for a price of $1.70 per share (“Exercise Price”).  The number of Warrant Shares and the Exercise Price shall be subject to adjustment pursuant to Section 6.

 

2.                                      Vesting.

 

(a)                                  The Warrant Shares shall vest as follows:

 

(i)                                     Vesting Amounts:  Warrant Shares shall vest based on the attainment of annual performance goals of recurring revenue earned by the Company as a result of Holder’s sale of Company Products (as defined in Schedule C to the Amendment 1 to Master Relationship Agreement (“Amendment 1”)). Specifically, vesting will be based on the amount of annual recurring revenue generated by Holder’s sale of Company Products during each of four successive one year periods (or, in the case of the first period, the thirteen month period beginning on December 1, 2010) ending on December 31, 2011, December 31, 2012, December 31, 2013 and December 31, 2014 (each one

 

1

 

year (or thirteen month, as applicable) period a “Performance Period” and collectively, the “Performance Periods”), as more specifically set forth in the vesting table set forth in Section 2(a)(iii) (the “Vesting Table”).  For purposes of this Warrant, annual recurring revenue shall mean (i) the aggregate annual recurring revenue for all customer contracts entered into during the period in question, calculated as to each customer contract when that customer contract is entered into, based on the minimum committed annual recurring revenue required to be paid by the customer under the contract (the actual revenue recognized by the Company following the signing of the customer contract and the timing of the recognition of that revenue are dependent on a variety of factors and for purposes of this Warrant, ARR will not be measured by such actual revenue), plus (ii) amounts received by Holder during the Performance Period for “Referrals” and “Assisted Sales” pursuant to Schedule C to Amendment 1, as such terms are defined therein (the total amount of (i) plus (ii) is referred to as the “ARR”).  The ARR performance goals shall be measured for each Performance Period, and up to the number of Warrant Shares set forth below, and as adjusted by Section 6, shall be subject to vesting for each Performance Period set forth below (the “Performance Period Maximum Amount”):

 

	
 
    	
Performance   Period
    	
 
    	
Performance Period Maximum Amount
    
	
 
    	
12/1/10   to 12/31/11
    	
 
    	
564,748   shares
    
	
 
    	
Calendar   Year 2012
    	
 
    	
1,411,869   shares
    
	
 
    	
Calendar   Year 2013
    	
 
    	
1,411,870   shares
    
	
 
    	
Calendar   Year 2014
    	
 
    	
*As   set forth below.
    

 

*                                         The Performance Period Maximum Amount for calendar year 2014 shall be (a) if the aggregate ARR for the first three Performance Periods (i.e. 12/1/10 through 12/31/2013) is $[**] or greater (a “Year 4 Trigger”), then 1,129,496 shares, or (b) if a Year 4 Trigger does not occur, then zero (0) shares, and vesting of shares under this Warrant in such event shall end with calendar year 2013.  For purposes of determining whether the Year 4 Trigger has occurred, the aggregate ARR shall be the amount of ARR for each of the first three Performance Periods, finally determined for each period as provided in Section 2(b) below.

 

(ii)                                  Vesting:  At the end of each Performance Period, the amount of Warrant Shares vesting shall equal the number of Warrant Shares earned based on the ARR for such Performance Period, as set forth in the Vesting Table.  In the case of the 2012, 2013 and 2014 Performance Periods (i.e. the calendar years 2012, 2013 and 2014), the ARR for such Performance Period shall be reduced for purposes of the vesting calculation by an amount equal to the ARR included in the immediately preceding Performance Period on account of customers whose contracts subsequently terminated for any reason.

 

(iii)                               Vesting Table: The amount of Warrant Shares earned during each Performance Period shall be determined based on the following table:

 

2

 

Performance Period One (12/1/10 to 12/31/11)

 

	
 
    	
ARR
    	
 
    	
Percentage of Performance Period
   Maximum Amount
    	
 
    
	
 
    	
[**]
    	
 
    	
0
    	
%
    
	
 
    	
[**] 
    	
 
    	
50
    	
%
    
	
 
    	
[**] 
    	
 
    	
60
    	
%
    
	
 
    	
[**] 
    	
 
    	
75
    	
%
    
	
 
    	
[**] 
    	
 
    	
90
    	
%
    
	
 
    	
[**] 
    	
 
    	
100
    	
%
    

 

Performance Period Two (2012 Calendar Year)

 

	
 
    	
ARR
    	
 
    	
Percentage of Performance Period
   Maximum Amount
    	
 
    
	
 
    	
[**]
    	
 
    	
0
    	
%
    
	
 
    	
[**] 
    	
 
    	
50
    	
%
    
	
 
    	
[**] 
    	
 
    	
60
    	
%
    
	
 
    	
[**] 
    	
 
    	
75
    	
%
    
	
 
    	
[**] 
    	
 
    	
90
    	
%
    
	
 
    	
[**] 
    	
 
    	
100
    	
%
    

 

Performance Period Three (2013 Calendar Year)

 

	
 
    	
ARR
    	
 
    	
Percentage of Performance Period
   Maximum Amount
    	
 
    
	
 
    	
[**]
    	
 
    	
0
    	
%
    
	
 
    	
[**] 
    	
 
    	
50
    	
%
    
	
 
    	
[**] 
    	
 
    	
60
    	
%
    

 

3

 

	
 
    	
[**] 
    	
 
    	
75
    	
%
    
	
 
    	
[**] 
    	
 
    	
90
    	
%
    
	
 
    	
[**] 
    	
 
    	
100
    	
%
    

 

Performance Period Four (2014 Calendar Year) (if there has been a Year 4 Trigger)

 

	
 
    	
ARR
    	
 
    	
Percentage of Performance Period
   Maximum Amount
    	
 
    
	
 
    	
[**]
    	
 
    	
0
    	
%
    
	
 
    	
[**] 
    	
 
    	
50
    	
%
    
	
 
    	
[**] 
    	
 
    	
60
    	
%
    
	
 
    	
[**] 
    	
 
    	
75
    	
%
    
	
 
    	
[**] 
    	
 
    	
90
    	
%
    
	
 
    	
[**] 
    	
 
    	
100
    	
%
    

 

(b)                             The amount of ARR for each Performance Period, and the resulting number of Warrant Shares vested for such Performance Period shall be set forth in a written report prepared by the Company and provided to the Holder within thirty (30) days of the end of each Performance Period (a “Vesting Report”), provided that the Company shall only be required to prepare and provide a Vesting Report for the fourth Performance Period (calendar year 2014) if a Year 4 Trigger occurs.  The Holder shall have 30 days from the receipt of a Vesting Report to object to the information contained therein, by written notice to the Company (an “Objection Notice”), failing which it shall be deemed accepted. An Objection Notice shall set out in reasonable detail those aspects of the Vesting Report with which the Holder does not agree. Thereafter, if an Objection Notice has been issued, the Company and the Holder shall use commercially reasonable efforts to resolve the dispute set out in the Objection Notice within 10 days. If the Company and the Holder are unable to resolve any dispute within such time period, then the Company and the Holder shall jointly select an accounting firm of national standing in the United States to resolve the dispute (the “Independent Accountant”). If the Company and the Holder are unable jointly to select an accounting firm to act as the Independent Accountant within 5 days, they shall select an accounting firm by lot (other than the accounting firms engaged by the Company and the Holder to audit their respective financial statements).  The Independent Accountant shall be instructed to resolve the matters in dispute, as set out in the Objection Notice.  The Independent Accountant shall act as an expert, not an arbitrator, and the determination of the Independent Accountant shall be final and binding on the Company, and the Holder.  The expenses of the Independent Accountant shall be borne equally by the Company and the Holder.

 

4

 

(c)                                  Upon the occurrence of a Change in Control, the vesting of Warrant Shares will proceed according to the following scheme.  If Holder and the Company (or the acquiring, surviving or resulting entity, as applicable), by mutual written agreement entered into at least ten (10) days prior to the consummation of such Change in Control, agree to continue the commercial relationship between the parties under Amendment No. 1 (or substitute agreements) and their respective obligations under this Warrant, the Change in Control shall not affect the vesting of any Warrant Shares, and the vesting of Warrant Shares shall continue according to the schedule and terms outlined above.  Absent such mutual agreement by at least ten (10) days prior to the Change in Control, there may be a final vesting of Warrant Shares upon the Change in Control, determined as follows:

 

(i)                                     If the Change in Control is consummated on or before the end of the first Performance Period (i.e. on or before 12/31/11), then

 

(A)                              If the ARR generated for the shortened first Performance Period during which the Change in Control occurs is less than the ARR amount corresponding to the achievement of 40% of the Performance Period Maximum Amount for that period, pro rated for the portion of the full first Performance Period ending on the consummation of the Change in Control (i.e. pro rated based on the number of days elapsed in the final, partial first Performance Period as a portion of the number of days in the applicable full first Performance Period) (such pro rated amount, whether for the first Performance Period or a subsequent Performance Period, where applicable, is referred to as the “Minimum ARR”), then there shall be no final vesting of Warrant Shares as a result of the Change in Control.

 

(B)                                If the ARR generated for the shortened first Performance Period during which the Change in Control occurs is greater than or equal to the Minimum ARR, then Warrant Shares for the final, shortened first Performance Period (but not for any future Performance Periods) shall vest according to the following modified vesting schedule:  (1) all ARR goals set forth in the Vesting Table for the first Performance Period shall be reduced proportionately, based on the number of days elapsed in the first Performance Period prior to the Change in Control, as a portion of the number of days in the applicable full first Performance Period, and (2) the number of Warrant Shares that vest at each level of ARR attained in such final, shortened first Performance Period shall not be reduced proportionately, such that the full Performance Period Maximum Amount for such final, shortened first Performance Period shall continue to be used to calculate the number of Warrant Shares that vest.

 

(ii)                                  If the Change in Control is consummated during the second or third Performance Periods (i.e. during calendar years 2012 or 2013), then

 

(A)                              If the ARR generated for the shortened Performance Period during which the Change in Control occurs is less than the Minimum ARR for such period, then there shall be no final vesting of Warrant Shares as a result of the Change in Control.

 

5

 

(B)                                If the ARR generated for the shortened Performance Period during which the Change in Control occurs is greater than or equal to the Minimum ARR but less than or equal to 105% of the ARR amount corresponding to the achievement of 100% of the Performance Period Maximum Amount for that period, pro rated for the portion of such Performance Period ending on the consummation of the Change in Control (i.e. pro rated based on the number of days elapsed in the final, partial Performance Period as a portion of the number of days in the applicable full Performance Period) (such pro rated amount is referred to as the “Maximum ARR”), then Warrant Shares solely for the final, shortened Performance Period (but not for any future Performance Periods) shall vest according to the following modified vesting schedule:  (1) all ARR goals set forth in the Vesting Table for such final, shortened Performance Period shall be reduced proportionately, based on the number of days elapsed in the final, partial Performance Period as a portion of the number of days in the applicable full Performance Period, (2) the number of Warrant Shares that vest at each level of ARR attained in such final, shortened Performance Period shall not be reduced proportionately, such that the full Performance Period Maximum Amount for such final, shortened Performance Period shall continue to be used to calculate the number of Warrant Shares that vest, and (3) there shall be no reduction in ARR for the final, partial Performance Period based on any customer terminations occurring during such final period.

 

(C)                                If the ARR generated for the shortened Performance Period during which the Change in Control occurs is greater than 105% of the Maximum ARR for that period, then the Performance Period Maximum Amount for the Performance Period in which the Change in Control occurs will immediately vest, and if the Change in Control takes place in the second Performance Period (i.e. during calendar year 2012), then the Performance Period Maximum Amount for the third Performance Period (i.e. calendar year 2013) will also immediately vest, and there shall be no vesting with respect to the fourth Performance Period (i.e. for calendar year 2014).

 

(iii)                               If the Change in Control is consummated during the fourth Performance Period (i.e. during calendar year 2014), then

 

(A)                              If the ARR generated for the shortened fourth Performance Period is less than the Minimum ARR, then there shall be no final vesting of Warrant Shares as a result of the Change in Control.

 

(B)                                If the ARR generated for the shortened fourth Performance Period is greater than or equal to the Minimum ARR, then Warrant Shares for the final, shortened fourth Performance Period shall vest according to the following modified vesting schedule:  (1) all ARR goals set forth in the Vesting Table for the fourth Performance Period shall be reduced proportionately, based on the number of days elapsed in the fourth Performance Period prior to the Change in Control, as a portion of the number of days in the full fourth Performance Period, and (2) the number of Warrant Shares that vest at each level of ARR attained in such final, shortened fourth Performance Period shall also be reduced 

 

6

 

proportionately, based on the number of days elapsed in the fourth Performance Period prior to the Change in Control, as a portion of the number of days in the full fourth Performance Period.

 

For purposes of this Warrant, “Change in Control” shall mean any of the following events:

 

(1)                                  Any merger, share exchange or consolidation, or any agreement providing for the same, where the Company is not the surviving entity (or survives only as a subsidiary of an entity);

 

(2)                                  Any sale, lease, exchange or distribution of all or substantially all of the Company’s assets;

 

(3)                                  Any person or entity, including a “group” as contemplated by Section 13(d)(3) of the Securities Exchange Act of 1934 acquires or gains beneficial ownership of more than 50% of the outstanding shares of the Company’s voting stock;

 

(4)                                  Individuals who, on the date hereof, are members of the Company’s Board of Directors (the “Incumbent Board”) cease for any reason to constitute at least a majority of the members of the Company’s Board of Directors; provided, however, that if the appointment or election (or nomination for election) of any new member of the Company’s Board of Directors was approved or recommended by a majority vote of the members of the Incumbent Board then still in office, or was approved or recommended by an investor as a replacement for a prior designee of such investor, then such new member shall be considered as a member of the Incumbent Board; or

 

(5)                                  Any liquidation, dissolution or winding down of the affairs of the Company.

 

Notwithstanding the provisions of subsections (1) through (5) above, a Change in Control shall not include (1) any reorganization, merger, consolidation, sale, lease, exchange or similar transaction that involves solely the Company and one or more entities wholly owned, directly or indirectly by the Company immediately prior to such event or (2) the consummation of any transaction or series of integrated transactions (or any agreement or agreements providing for such transaction or transactions) immediately following which the beneficial holders of the outstanding shares of the Company’s voting stock immediately prior to such transaction or series of transactions continue to own beneficially 50% or more of the voting stock of (A) any entity that owns, directly or indirectly, 100% of the stock of the Company, (B) any entity with which the Company has merged, or (C) any entity that owns an entity with which the Company has merged.  For purposes of this Warrant, beneficial ownership shall have the meaning set forth in Rule 13d-3 under the Securities Exchange Act of 1934.

 

3.                                      Exercisability and Duration.  This Warrant shall become exercisable with respect to Warrant Shares immediately upon the vesting of such Warrant Shares (as described in Section 2) and subject to the provisions of this Warrant providing for its earlier termination, shall remain exercisable with respect to Warrant Shares vesting in accordance with Section 2 until 5:00 p.m., New York, New York time on the tenth anniversary of the Warrant Issue Date for 

 

7

 

such Warrant Shares (such time, with respect to any Warrant Shares, being referred to herein as the “Expiration Date” for such Warrant Shares).

 

4.                                      Method of Exercise.  While this Warrant remains outstanding and exercisable in accordance with Section 3 above, the Holder may exercise, in whole or in part, the purchase rights evidenced hereby. Such exercise shall be effected by:

 

(a)                                  Delivery to the Company, at its principal executive offices (or at such other place as the Company shall notify the Holder in writing) and addressed to the attention of the Company’s Secretary, of a duly executed copy of a Notice of Exercise, the form of which is attached hereto as Exhibit A (with such changes as are appropriate to reflect any adjustment, pursuant to the provisions of Section 6, in the securities or property transferable to the Holder on exercise hereof); and

 

(b)                                 The receipt of the Company of an amount equal to the aggregate Exercise Price for the number of Warrant Shares being purchased as described in Section 4(c) below.

 

The exercise of this Warrant shall be deemed to have been effected on the first day on which both of the above requirements have been satisfied (the “Exercise Date”).

 

(c)                                  The aggregate Exercise Price described above in Section 4(b) shall be paid as follows, at the option of the Holder:

 

(1)                                  Such aggregate Exercise Price may be paid in the form of a check made payable to the Company;

 

(2)                                  Such aggregate Exercise Price may be paid through the Company’s withholding and retaining from the Warrant Shares which would otherwise be delivered to the Holder as a result of such exercise that number of Warrant Shares as shall be equal to (A) the aggregate Exercise Price for the number of Warrant Shares being purchased divided by (B) the Market Value (as defined below) of the outstanding Company Common Stock on the Exercise Date (“Net Share Exercise”); or

 

(3)                                  Such aggregate Exercise Price may be paid through any combination of the methods described in (1) and (2) above.

 

For purposes of this Warrant, the “Market Value” of a share of the Company Common Stock as of a particular date shall be (A) the closing price of Company Common Stock on the trading day immediately preceding such date (if Company Common Stock is then traded on a national securities exchange), (B) the closing bid or sale price (whichever is applicable) of the Company Common Stock on the trading day immediately preceding such date (if Company Common Stock is then traded over-the-counter) or (C) if there is no active public market, the fair market value of a share of the Company Common Stock as determined by the Board of Directors of the Company in its reasonable good faith judgment.  Notwithstanding the foregoing, if the warrant is being exercised upon the closing of an initial public offering of the Company, the market price will be the initial “Price to Public” of one share of such Common Stock specified in the final prospectus with respect to such offering.

 

8

 

(4)                              Notwithstanding the provisions of subsections (a) and (b) of this Section, if, at the Expiration Date for any Warrant Shares, this Warrant has not theretofore been exercised with respect to such Warrant Shares and the Market Value of Company Common Stock is greater than the Exercise Price, then the Holder shall be deemed to have exercised this Warrant with respect to such Warrant Shares immediately prior to such Expiration Date and shall be deemed to have elected to pay the aggregate Exercise Price pursuant to paragraph (2) of subsection (c) of this Section, and the “Exercise Date” with respect to such deemed exercise shall be date on which such Expiration Date occurs.

 

5.                                      Rights as Stockholder; Certificates for Shares.

 

(a)                                  Upon exercise of this Warrant, the Holder shall be deemed a stockholder of record with respect to the Warrant Shares purchased pursuant to such exercise, with all rights of a stockholder, including voting rights and rights to receive dividends.

 

(b)                                 If Warrant Shares purchased pursuant to an exercise of this Warrant are certificated securities, certificates for such Warrant Shares shall be delivered to the Holder within a reasonable time after the applicable Exercise Date.  Each certificate representing Warrant Shares shall be stamped or otherwise imprinted with a legend substantially similar to the following:

 

THE OFFER AND SALE OF THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL OR OTHER EVIDENCE REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.

 

The Company shall be obligated to reissue unlegended certificates at the request of the Holder within a reasonable time after such request, if the Holder shall have obtained an opinion of counsel (which counsel may be counsel to the Company) reasonably acceptable to the Company that the securities proposed to be unlegended may lawfully be so disposed of without registration, qualification or legend.

 

(c)                                  If Warrant Shares purchased pursuant to an exercise of this Warrant are uncertificated securities or issued in book-entry form and represented by certificates registered in the name of a nominee for Depositary Trust Company (“DTC”), the records of one or more participants in the DTC system shall, within a reasonable time after the applicable Exercise Date, reflect that the Holder is the owner of such shares.  The Company’s transfer agent may issue stop transfer instructions reflecting the restrictions on transfer referred to in the legend described in Section 5(b), and the Company shall be obligated to instruct the transfer agent to remove such stop transfer instructions promptly at the request of the Holder if the Holder shall have obtained an opinion of counsel (which counsel may be counsel to the Company) reasonably acceptable to 

 

9

 

the Company that the securities may lawfully be so disposed of without the restrictions on transfer referred to in such legend.

 

6.                                      Adjustment of Number of Warrant Shares and Exercise Price.  The number of and kind of securities that may be purchased upon exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time as follows:

 

(a)                                  Adjustment for Stock Splits, Stock Dividends, Recapitalizations, etc.  The Exercise Price and the number and type of securities or other property issuable upon exercise of this Warrant (including, without limitation, each Performance Period Maximum Amount) shall be appropriately and proportionately adjusted to reflect any stock dividend, stock split, combination of shares, reclassification, recapitalization or other similar event affecting the number or character of outstanding shares of Warrant Stock, so that the number and type of securities or other property issuable upon exercise of this Warrant shall be equal to that which would have been issuable with respect to the number of shares of Warrant Stock subject hereto immediately prior to such event, had such shares of Warrant Stock then been outstanding.

 

(b)                                 Distributions of Other Property.  If, at any time while this Warrant remains outstanding and unexpired with respect to any Warrant Shares, the Company shall distribute to all holders of Company Common Stock (including any such distribution made in connection with a consolidation or merger in which the Company is the continuing corporation) evidences of its indebtedness or assets (excluding ordinary cash dividends or distributions payable out of consolidated earnings or earned surplus and dividends or distributions referred to in subsection (a) of this Section) or rights, options or warrants, or convertible or exchangeable securities containing the right to subscribe for or purchase debt securities, assets or other securities of the Company (excluding those referred to in subsection (a) of this Section), then in lieu of an adjustment to the number of shares of Company Common Stock purchasable upon the exercise of this Warrant, the Holder upon the exercise hereof at any time after such distribution shall be entitled to receive from the Company the stock or other securities to which the Holder would have been entitled if the Holder had exercised this Warrant immediately prior thereto, all subject to further adjustment as provided in this Section; provided, however, that no adjustment with respect to ordinary cash dividends or interest on such stock or other securities shall be made during the term of this Warrant or upon the exercise of this Warrant.

 

(c)                                  Notice of Adjustment.  When any adjustment is required to be made in the number or kind of shares purchasable upon exercise of the Warrant or in the Exercise Price, the Company shall promptly notify the Holder of such event, the number of shares of Company Common Stock or other securities or property thereafter purchasable upon exercise of this Warrant (including, without limitation, each Performance Period Maximum Amount) and the adjusted Exercise Price per share or per interest in other securities or property.

 

(d)                                 No Fractional Shares or Scrip.  No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant.  In lieu of any fractional shares to which the Holder would otherwise be entitled, the Holder shall be entitled, at its option, to receive either (1) a cash payment equal to the excess of the Market Value for such fractional share over the Exercise Price for such fractional share or (2) a whole share if the Holder tenders 

 

10

 

cash equal to the Market Value of the remaining fraction of a share necessary to round up the fractional share to a whole share.

 

7.                                      Issuance of Shares.  The Company covenants and agrees that Warrant Shares, when issued pursuant to an exercise of this Warrant, will be duly and validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issuance thereof.  The Company further covenants and agrees that during the period during which this Warrant remains outstanding and unexpired with respect to any Warrant Shares, the Company will at all times have authorized and reserved, for the purpose of issuance or transfer upon exercise of the rights evidenced by this Warrant, a sufficient number of shares of authorized but unissued Company Common Stock, or other securities and property, when and as required to provide for the exercise of the rights represented by this Warrant.  The Company shall take all such action as may be necessary to assure that such shares of Company Common Stock may be issued as provided herein without violation of any applicable law or regulation or of any requirements of any domestic securities exchange upon which Company Common Stock may be listed.

 

8.                                      Representations of the Company.  The Company hereby represents and warrants to the Holder as follows:

 

(a)                                  The execution and delivery of this Warrant has been duly and properly authorized by all requisite corporate action of the Company and the Company’s board of directors and stockholders, and no consent of any other person is required as a prerequisite to the validity and enforceability of this Warrant that has not been obtained.  The Company has the full legal right, power and authority to execute and deliver this Warrant and to perform its obligations hereunder.

 

(b)                                 The Company is not a party to or otherwise subject to any contract or agreement that restricts or otherwise affects its right to execute and deliver this Warrant or to perform its obligations hereunder (including the issuance of Warrant Shares), except where all necessary consents or waivers have been obtained.  After giving effect to all consents, approvals and waivers that the Company has obtained, neither the execution, delivery nor performance of this Warrant (including the issuance of Warrant Shares) will conflict with, result in a breach of the terms, conditions or provisions of, constitute a default under, result in any violation of, result in the creation of any lien upon any properties of the Company under, require any consent, approval or other action by or notice to or filing with any court or governmental body pursuant to, the Company’s Certificate of Incorporation or Bylaws, any award of any arbitrator or any agreement, instrument or law to which the Company is subject or by which it is bound.

 

(c)                                  The issuance of this Warrant is, and assuming the continuing accuracy of the Holder’s representations and warranties herein and no change in applicable law, the issuance of Warrant Shares upon exercise of this Warrant will be, exempt from registration and qualification under applicable federal and state securities laws.

 

The Company shall indemnify the Holder from and against any and all claims, demands, liabilities, damages, losses, costs and expenses (including attorneys’ fees and court costs) arising out of or suffered or incurred by the Holder as a result of the Company’s breach of the representations and warranties set forth in this Section or of the covenants and agreements set forth in Section 7.

 

11

 

9.                                      Representations of the Holder.  The Holder represents and warrants to the Company as follows:

 

(i)                                     It is an “accredited investor” within the meaning of Rule 501 of the Securities Act.  This Warrant is acquired for the Holder’s own account for investment purposes and not with a view to any offering or distribution within the meaning of the Securities Act and any applicable state securities laws.  The Holder has no present intention of selling or otherwise disposing of this Warrant or the Warrant Shares in violation of such laws; and

 

(ii)                                  The Holder has sufficient knowledge and expertise in financial and business matters so as to be capable of evaluating the merits and risks of its investment in the Company.  The Holder understands that this investment involves a high degree of risk and could result in a substantial or complete loss of its investment.  The Holder is capable of bearing the economic risks of such investment.

 

The Holder acknowledges that the Company has indicated that this Warrant and the Warrant Shares have not been registered under the Securities Act by reason of their issuance in a transaction exempt from the registration requirements thereof, and that the Warrant Shares will bear the legend required by Section 5(b) of this Warrant and may not be sold or transferred in the absence of such registration or an exemption from such registration.

 

10.                               Transfers.  Neither this Warrant nor any interest herein may be pledged, sold, transferred, or otherwise disposed of with respect to the right to purchase Warrant Shares that have not become vested.  Subject to compliance with applicable federal and state securities laws, (a) this Warrant and all rights hereunder shall be transferable, in whole or in part by the Holder to any subsidiary or affiliate of the Holder upon written notice to the Company, and (b) Warrant Shares that have been issued upon the exercise of this Warrant shall be transferable in whole or in part by the Holder, whether pursuant to a registration statement filed by the Company or otherwise, to any person, persons, entity or entities.  For purposes of this Section 10, the term “affiliate” shall mean any entity that is controlled by, controlling or under common control with the Holder.  The transfer shall be recorded on the books of the Company upon the surrender of this Warrant, properly endorsed, to the Company at its principal offices, and the payment to the Company of all transfer taxes and other governmental charges imposed on such transfer.  In the event of a transfer in whole, the Company shall issue a new warrant to the transferee Holder.  In the event of a partial transfer, the Company shall issue to the Holders one or more appropriate new warrants.

 

11.                               Loss of Warrant.  Upon receipt by the Company of satisfactory evidence of loss, theft, destruction or mutilation of this Warrant and of indemnity satisfactory to the Company, and upon surrender and cancellation of this Warrant, if mutilated, the Company shall execute and deliver a new Warrant of like tenor and date and any such lost, stolen or destroyed Warrant shall thereupon become void.  Any such new Warrant executed and delivered shall constitute an additional contractual obligation on the part of the Company, whether or not the Warrant so lost, stolen, destroyed or mutilated shall be at any time enforceable by anyone.

 

12.                               Lock-Up” Agreement.

 

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(a)                                 The Holder, if requested by the Company and the managing underwriter of the Company’s initial public offering, shall not sell or otherwise transfer or dispose of this Warrant or any Warrant Shares or other securities of the Company (excluding securities acquired in the initial public offering or in the public market after such offering) held by the Holder for a period of 180 days following the effective date of the registration statement for the initial public offering (the “Initial Lock-Up Period”); provided, however, that if (1) during the last 17 days of the Initial Lock-Up Period, (A) the Company releases earnings results or (B) material news or a material event relating to the Company occurs, or (2) prior to the expiration of the Initial Lock-Up Period, the Company announces that it will release earnings results during the 16-day period following the last day of the Initial Lock-Up Period, then in each case the Initial Lock-Up Period will be extended until the expiration of the 18-day period beginning on the date of the release of the earnings results or the occurrence of material news or a material event relating to the Company, as the case may be (as so extended, the “Lock-Up Period”).

 

(b)                                 The Company may impose stop-transfer instructions with respect to this Warrant, the Warrant Shares or other securities subject to the foregoing restriction until the end of the Lock-Up Period.

 

(c)                                  As a condition to the obligation of the Holder under this Section 12, the Company agrees to use its reasonable best efforts to ensure that the “lock-up” obligation of the Holder under this Section 12, and any agreement entered into by the Holder as a result of its obligations under this Section 12, shall (i) allow for periodic early releases of portions of the securities subject to such “lock-up” obligations, which may be conditioned upon the trading price of the Company’s Common Stock and (ii) provide that the Holder and other stockholders subject to lock-up obligations will participate on a pro-rata basis in any early release of any stockholder.

 

(d)                                 The Holder shall treat as confidential any written notice from the Company regarding the Company’s plans to file a registration statement and shall not disclose such information to any person other than as necessary to exercise its rights under this Warrant.

 

13.                               Treatment on Change in Control.  If at any time while this Warrant, or any portion thereof, is outstanding and unexpired, there shall be a Change in Control where the Holder and the Company (or the acquiring, surviving or resulting entity, as applicable), do not, by mutual written agreement entered into at least ten (10) days prior to the consummation of the Change in Control, agree to continue the commercial relationship between the parties under Amendment No. 1 (or substitute agreements) and their respective obligations under this Warrant, then the Company shall pay the Warrant Value (as defined below) to the Holder upon consummation of the Change in Control.  The Warrant Value shall be paid in the same mix of consideration, at the same times, and subject to the same escrow and other deferred payment arrangements as holders of the Company’s Common Stock, and the Holder shall enter into or otherwise approve and become subject to such purchase agreement, contribution agreement, escrow agreement and other similar instruments and documents as other holders of Common Stock in connection with the Change in Control.  If the Company complies with such requirements, this Warrant shall be deemed terminated and cancelled as of the closing of the Change in Control.  “Warrant Value” shall mean the consideration that would be payable or distributable to the Holder in connection with a Change in Control if the Holder had exercised this Warrant in full immediately prior to the closing of the Change in Control, for the number of 

 

13

 

Warrant Shares then purchasable under this Warrant in accordance with the terms of this Warrant, less the aggregate Exercise Price for such Warrant Shares

 

14.                               Financial Information.  The Company shall provide to the Holder quarterly financial statements in the same form as provided to other investors, at a minimum containing a balance sheet and profit and loss statement.  The Company’s obligations under this Section 14 shall terminate upon its initial public offering.

 

15.                               Miscellaneous Provisions.

 

(a)                                 Successors and Assigns.  The terms and provisions of this Warrant shall inure to the benefit of, and be binding upon, the Company and the Holder and their respective successors and assigns.

 

(b)                                 Amendments and Waivers.  Any term of this Warrant may be amended and the observance of any term of this Warrant may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and the Holder.  Any amendment or waiver effected in accordance with this Section 15(b) shall be binding upon Holder and the Company and their respective successors and assigns.

 

(c)                                  Governing Law.  This Warrant shall be governed by and construed exclusively in accordance with the internal laws of the State of Delaware as applied to agreements among Delaware residents entered into and to be performed entirely within Delaware, excluding that body of law relating to conflict of laws.

 

(d)                                 Forum.  Each party irrevocably submits and consents to the exclusive jurisdiction of the federal courts sitting in the State of Delaware and the state courts of Delaware, and hereby agrees that such courts shall be the exclusive proper forum for the determination of any dispute arising hereunder.

 

(e)                                  Construction.

 

(1)                                 Whenever the context permits, the gender of all words used in this Warrant includes the masculine, feminine and neuter, and words of the singular number shall be deemed to include the plural number (and vice versa).  As used in this Warrant, the term “including” shall mean “including, without limitation.”

 

(2)                                 Unless the context makes clear to the contrary, all references in this Warrant to a Section, subsection or paragraph refer to sections, subsections or paragraphs, respectively, of this Warrant.  When used in this Warrant, the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Warrant as a whole and not to any particular provision of this Warrant.

 

(3)                                 The captions of the Sections, subsections and paragraphs of this Warrant have been inserted as a matter of convenience of reference only and shall not affect the meaning or construction of any of the terms or provisions of this Warrant.

 

14

 

(f)                                   Notices.  All notices required under this Warrant shall be deemed to have been given or made for all purposes (1) upon personal delivery, (2) upon confirmation receipt that the communication was successfully sent to the applicable number if sent by facsimile, (3) one day after being sent, when sent by professional overnight courier service, or (4) five days after posting when sent by registered or certified mail.  Notices to the Company shall be sent to the principal office of the Company (or at such other place as the Company shall notify the Holder in writing).  Notices to the Holder shall be sent to the following address (or at such other place as the Holder shall notify the Company in writing):

 

Dell Products L.P.

One Dell Way

Round Rock, Texas 78682

Facsimile: 512.283.9501

Attention: Treasurer

 

With a copy to:

 

Dell Products L.P.

One Dell Way

Round Rock, Texas 78682

Facsimile: 512.283.0587

Attention: General Corporate Counsel

 

(g)                                  Costs and Attorneys’ Fees.  If any action, suit, or other proceeding is instituted concerning or arising out of this Warrant, the prevailing party shall recover all of such party’s costs and reasonable attorneys’ fees incurred in each such action, suit, or other proceeding, including any and all appeals or petitions from any such action, suit, or other proceeding.

 

(h)                                 Severability.  If one or more provisions of this Warrant are held to be unenforceable under applicable law, then such provision(s) shall be excluded from this warrant and the balance of this Warrant shall be interpreted as if such provision(s) were so excluded and shall be enforceable in accordance with its terms.

 

(i)                                     Entire Agreement.  This Warrant, together with Exhibit A hereto, constitutes the entire agreement and understanding of the parties with respect to the subject matter of this Warrant and supersedes any and all prior negotiations, correspondence, agreements, understandings, duties, or obligations between the parties with respect to the subject matter of this Warrant.

 

(j)                                    Further Assurances.  From and after the date of this Warrant, upon the request of the Holder or the Company, the Company and the Holder shall execute and deliver such instruments, documents, or other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent and purposes of this Warrant.

 

(k)                                 Delays or Omissions.  No delay or omission to exercise any right, power, or remedy accruing to the Holder, upon any breach or default of the Company under this Warrant shall impair any such right, power, or remedy of the Holder nor shall it be construed to be a 

 

15

 

waiver of any such breach or default, or an acquiescence in any such breach or default, or of or in any similar breach or default occurring after such breach or default; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or after such breach or default.  Any waiver, permit, consent, or approval of any kind or character on the part of the Holder of any breach or default under this Warrant or any waiver on the part of the Holder of any provisions or conditions of this Warrant must be made in writing and shall be effective only to the extent specifically set forth in such writing.  All remedies, either under this Warrant or by law or otherwise afforded to the Holder, shall be cumulative and not alternative.

 

(l)                                     Saturdays, Sunday, Holidays, etc.  If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a Saturday, a Sunday or a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day that is not a Saturday, Sunday or legal holiday.

 

(m)                             Counterparts.  This Warrant may be executed in one or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement.  Facsimile copies of signed signature pages will be deemed binding originals.

 

[Signature page follows.]

 

16

 

In witness whereof, the Company has caused this Warrant to be executed by its duly authorized officer.

 

 

	
 
    	
Tangoe,   Inc.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Albert R. Subbloie
    
	
 
    	
Name:
    	
Albert   R. Subbloie
    
	
 
    	
Title:
    	
President   and CEO
    

 

 

	
ACCEPTED AND ACKNOWLEDGED BY:
    	
 
    
	
 
    	
 
    
	
Dell Products L.P.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Janet Wright
    	
 
    
	
Name:
    	
Janet   Wright
    	
 
    
	
Title:
    	
Vice   President and Assistant Secretary
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
 
    	
 
    

 

17

 

NOTICE OF EXERCISE

 

WARRANT TO PURCHASE COMMON STOCK

 

This Notice of Exercise is executed and delivered in connection with an exercise of that certain Warrant to Purchase Common Stock issued by Tangoe, Inc., a Delaware corporation, to Dell Products L.P., a Texas Limited partnership, on                               ,             (the “Warrant”).  Terms used herein with their initial letters capitalized shall have the meaning ascribed to them in the Warrant.

 

To:  Tangoe, Inc.

 

The undersigned hereby elects to purchase                                shares of Company Common Stock pursuant to the terms and provisions of the Warrant, and pursuant to Section 4(b) of the Warrant, hereby elects to pay the aggregate Exercise Price with respect to such shares as follows:

 

·                                          $                               in the form of a check made payable to                              as described in Section 4(c)(1); and/or

 

·                                          in the form of “Net Share Exercise” as described in Section 4(c)(2).

 

The undersigned hereby represents and warrants that the undersigned is acquiring such shares for its own account for investment purposes only and not for resale or with a view to distribution of such shares or any part thereof.

 

 

	
HOLDER:
    	
 
    
	
 
    	
 
    
	
Dell Products L.P.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
 
    	
 
    

 

	
Name   in which shares should be registered: 
    	
 
    	
 
    

 

18

 

VESTING NOTICE

 

To:  Dell Products L.P.; Attn: Treasurer

 

Tangoe, Inc. hereby notifies Dell Products L.P. of the grant of Warrant rights and/or the vesting of certain Shares pursuant to the Warrant to Purchase Common Stock of Tangoe, Inc. held by Dell Products L.P, as of the date below.

 

	
Total   Warrant rights granted:
    	
                                  
    
	
 
    	
 
    
	
Total   Shares underlying the Warrant:
    	
                                  
    
	
 
    	
 
    
	
Total   Shares vested and exercisable (including prior vested shares):
    	
                                  
    

 

 

	
 
    	
Tangoe,   Inc.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
 
    	
 
    	
 
    
						

 

19

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