Status of the Strategic ReviewIn light of the Company's debt obligations, and in light of the interest and corporate activity in the casual gaming space, in 2016, the Company initiated discussions with a number of strategic third parties around a potential transaction. The discussions included a potential sale of the Company or an acquisition of another complementary business. Many of the potential scenarios have involved the potential participation of third-party equity investors and a partial pay-down of the Company's debt obligations. The Company is in active due diligence with a number of parties and continues to make progress towards its goal of a transaction that will improve the Company's capital structure and benefit all stakeholders. The Company cannot, however, give any assurances that a definitive agreement will be reached with any party, or that a transaction of any kind of will be completed, nor can it give any assurances on the timing or nature of such a transaction, at this stage. We appreciate investors' desire for more information on the outcome of the strategic review. At this point, however, no definitive agreements have been reached, and accordingly, any specific announcement regarding a potential transaction would be premature and potentially harmful to the Company's interest. The Company maintains an active dialogue with Third Eye Capital Corporation ("Third Eye"), the administrative agent of Tangelo's credit facility, regarding all transaction opportunities. While the Company's annual financial statements include a going concern note related to the maturity of its debt facility, which is due January 31, 2018 and which has been reflected as a current liability in its December 31, 2016 financial statements, Third Eye has been an active and supportive partner of management in their common goal of achieving a beneficial strategic transaction. Vicenc Marti, President of Tangelo, commented: "Tangelo's performance in Q4 2016 shows that the Company is a player in the social casino market, with a top tier EBITDA Margin, a very resilient revenue profile and unique geographical diversification. Tangelo is now in a position to leverage its Company-wide Unity platform which will result in faster development cycles and more frequent mobile game launchings during the second half of 2017."