SoOum Corp. (fka SOUM)

[21ZNA9]

SCAM SWRF Unpaid Judgements:

Various creditors have brought legal proceedings for collections of their claims against the Company. Judgments payable at June 30, 2014 and December 31, 2013 are $1,084,633 and $1,066,755, respectively.

NOTE K – Notes Payable – Affiliates

The Company has borrowed $1,099,600 from a former member of the Board of Directors and two (2) related parties. The related party notes total to $4,600. Two of the notes from the former Board of Directors total to $1,045,000 and are unsecured. The third note in the amount of $50,000 is secured by a second lien on the Company’s assets. The notes to the former member of the Board of Directors are in default and the Company has included approximately $1,091,435 of accrued interest in accrued expenses at June 30, 2014.