iTalk Inc. (fka TALK)

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The garnished funds will be returned to UMS,LLC from Small Business Credit Cooperative, Inc and Procurepal, LLC and the two adversary suits will be dismissed...

Moreover, the settlement will result in funds available to the Debtor which will ultimately benefit the bankruptcy estate and thus, the creditors of Debtor.

Small Business Credit Cooperative, Inc.

Debtor and SBCC entered into a Settlement Agreement (“Settlement Agreement”)
memorializing the terms of the settlement of the disputes related to the Funds. A true and correct
copy of the Settlement Agreement is attached hereto as Exhibit “A.” The Settlement Agreement
is the controlling document, but Debtor summarizes the terms as follows: Debtor and SBCC
shall resolve the dispute to the Funds by disbursement of $28,602.00 to Debtor and $9,534.00 to
SBCC, and the Adversary Proceeding No. 16-05178 shall be dismissed

Procurepal, LLC

Debtor and Procurepal entered into a Settlement Agreement (“Settlement
Agreement”) memorializing the terms of the settlement of the disputes related to the Funds. A
true and correct copy of the Settlement Agreement is attached hereto as Exhibit “A.” The
Settlement Agreement is the controlling document, but a summary of the terms is as follows: (1)
Procurepal shall pay Debtor $30,805.97, (2) Debtor shall obtain a consent judgment in the
Adversary Proceeding which sets aside the Gwinnett Final Judgment as a preference, and (3) the
remaining relief sought by Debtor in the Adversary Proceeding No. 16-05177 shall be dismissed.

TALK