Hero Technologies Inc (HENC)

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Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant

On October 19, 2015 Holloman Energy Corporation borrowed $1,500,000 from Southern Hydrocarbon Resources Pty Ltd., a subsidiary of Holloman Corporation. The loan bears interest at 2% per year and is due and payable on October 19, 2017. The borrowed funds will be used to fund Holloman Energy’s share of the cost to drill one well on PEL 444. As collateral for the loan, Holloman Energy gave Southern Hydrocarbon Resources a security interest in a portion of its working interest in PEL 444.

Holloman Energy holds interests in two onshore Petroleum Exploration Licenses, PEL 112 and PEL 444, located on the southwestern flank of the Cooper Basin in the State of South Australia. PEL 444 is comprised of 2,358 square kilometers (582,674 gross acres, 310,775 net acres).

Holloman Corporation, which holds shares of our common stock through a wholly owned subsidiary, is our largest shareholder.