On January 18, 2018, Oak Tree Asset Management Ltd. filed a preliminary consent statement soliciting consents of shareholders of Applied Energetics, Inc. for the following: (i) to remove the sole member of the Board of Directors of the Company, (ii) to elect Adamczyk, Barcklow, and Dearmin as directors of the Company, and (iii) repeal any provision of the Amended and Restated By-Laws of the Company in effect immediately prior to the time this proposal becomes effective that was not included in the Bylaws filed by the Company with the Securities and Exchange Commission.