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The Reporting Persons and Control Person have acquired
their Shares of the Issuer for investment. The Reporting Persons and Control Person evaluate their investment in the Shares on a continual
basis. The Reporting Persons have no plans or proposals as of the date of this filing which, other than as expressly set forth below,
would relate to or would result in: (a) any extraordinary corporate transaction involving the Issuer; (b) any material change in the present
capitalization or dividend policy of the Issuer; (c) any material change in the operating policies or corporate structure of the Issuer;
(d) any change in the Issuer's charter or by-laws; (e) the Shares of the Issuer ceasing to be delisted from a national securities exchange
or ceasing to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; or (f) causing
the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934.
The Reporting Persons and Control Person expect to
engage with the Issuer with respect to strategies for charging network deployment, the media business optimization, improved shareholder
communication, and senior management hires.
The Reporting Persons and Control Person, however,
reserve the right, at a later date, to effect one or more of such changes and may acquire additional shares and dispose of or enter into
other transactions in the Shares they may be deemed to beneficially own.
The Reporting Persons and Control Person reserve the
right to be in contact with members of the Issuer's management, the Issuer's Board of Directors, other significant shareholders and others
regarding new hires and proposals that the Issuer could employ to maximize shareholder value.
The Reporting Persons and Control Person further reserve
the right to act in concert with any other shareholders of the Issuer, or other persons, for a common purpose should it determine to do
so, and/or to recommend courses of action to management and the shareholders of the Issuer. |
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(a) - (e) |
As of the date hereof, Virgo Hermes, LLC, Virgo Agency
Services, LLC, Virgo Investment Group LLC and Jesse C. Watson may be deemed to be the beneficial owners of 16,222,891 Shares, constituting
9.5% of the Shares, based upon the 152,307,420 Shares outstanding as of November 11, 2021 according to the Issuer’s Form 10-Q/A. This
amount includes 7,505,575 Shares that may be acquired within 60 days upon the exercise of warrants.1
Virgo Hermes, LLC has the sole power to vote or direct
the vote of 0 Shares; has the shared power to vote or direct the vote of 16,222,891 Shares; has the sole power to dispose or direct the
disposition of 0 Shares; and has the shared power to dispose or direct the disposition of 16,222,891 Shares. This amount includes 7,505,575
Shares that may be acquired within 60 days upon the exercise of warrants.
Virgo Agency Services, LLC has the sole power to vote
or direct the vote of 0 Shares; has the shared power to vote or direct the vote of 16,222,891 Shares; has the sole power to dispose or
direct the disposition of 0 Shares; and has the shared power to dispose or direct the disposition of 16,222,891 Shares. This amount includes
7,505,575 Shares that may be acquired within 60 days upon the exercise of warrants.
Virgo Investment Group LLC has the sole power to vote
or direct the vote of 0 Shares; has the shared power to vote or direct the vote of 16,222,891 Shares; has the sole power to dispose or
direct the disposition of 0 Shares; and has the shared power to dispose or direct the disposition of 16,222,891 Shares.
Jesse C. Watson has the sole power to vote or direct
the vote of 0 Shares; has the shared power to vote or direct the vote of 16,222,891 Shares; has the sole power to dispose or direct the
disposition of 0 Shares; and has the shared power to dispose or direct the disposition of 16,222,891 Shares. This amount includes 7,505,575
Shares that may be acquired within 60 days upon the exercise of warrants. |
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