The management team of the Issuer’s wholly owned subsidiary, Carbon RX Inc.
(“Carbon Rx”) exercised their stock options in Carbon RX. Accordingly, Carbon
FORM 7 – MONTHLY PROGRESS REPORT
January 2015 Page 3
RX issued 4,200,000 Class A common voting shares (“Shares”) to management, at a price of $0.005/Share. The Issuer now owns 83% of Carbon Rx. This issuance is not tabled below, as it is not Issuer shares that were issued, but rather private company shares owned by Carbon RX.