Sigma Labs Inc (SASI)

[TedJ]

As calculated in accordance with Rule 13d-3 of the Securities Exchange
Act of 1934, as amended, (i) Sabby Healthcare Master Fund,
Ltd. and Sabby Volatility Master Fund, Ltd. beneficially own 125,000
and 125,000 shares of the Issuer's common stock (common shares),
respectively, representing approximately 2.74% and 2.74% of the Common
Stock, respectively, and (ii) Sabby Management, LLC and Hal Mintz each
beneficially own 250,000 shares of the common shares,
representing approximately 5.48% of the common shares. Sabby Management,
LLC and Hal Mintz do not directly own any common shares, but
each indirectly owns 250,000 common shares. Sabby Management,
LLC, a Delaware limited liability company, indirectly owns
250,000 common shares because it serves as the investment manager of
Sabby Healthcare Master Fund, Ltd. and Sabby Volatility Warrant Master
Fund, Ltd., Cayman Islands companies. Mr. Mintz indirectly owns
250,000 common shares in his capacity as manager of Sabby Management,
LLC.