On November 4, 2014, Mr. Harry Bagot, CEO, President and member of the Board of Directors of US Fuel Corporation (the "Company"), notified the Company of his decision to resign from all of his positions with the Company (the "Resignation"); our Board of Directors accepted the Resignation today, November 5, 2014, effective immediately. Mr. Bagot's decision to resign did not involve any disagreement with the Company pertaining to the Company’s operations, policies or practices or with the Company's management or remaining board members. In light of the Company's cash position, Mr. Bagot resigned to explore other more gainful employment opportunities.