BOLDFACE Group, Inc., Boldface Licensing + Branding, By Lee Tillett, Inc., Kimsaprincess, Inc., 2Die4Kourt, and Khlomoney, Inc., (collectively, the “Parties”), have agreed to settle all disputes that existed among them in connection with an action on file in the United States District Court for the Central District of California (the “Action”). The Action, which is described in “Item 3. Legal Proceedings” of the Annual Report on Form 10-K of Boldface Group, Inc. filed with the Securities and Exchange Commission on October 15, 2013, was commenced in November 2012 andthe settlement will result in the termination of the Action. The Parties are in the process of preparing settlement documentation which will provide for certain actions by the Parties and a stay of the Action until February 15, 2015, at which time a stipulation for dismissal of the Action will be filed.
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