On December 27, 2012, the M. Lee Pearce Living Trust provided Le@p Technology Inc. with a $1,200,000 loan, which management believes, based on the company's recent and expected operating expenses, will be sufficient to fund the company's working capital requirements at least through December 31, 2014. The December 2012 Loan is evidenced by and incorporated into the December 2012 Le@P Combined Renewal Note. In addition to the December 2012 loan, the M. Lee Pearce Living Trust Provides December 2012 Loan with Le@P Technology Inc. previously made other working capital loans to the company, which are evidenced by two promissory notes made by the company in favor of the M. Lee Pearce Living Trust Provides December 2012 Loan with Le@P Technology Inc. and dated February 7, 2012 (in the original principal amount of $777,062.04) and April 9, 2012 (in the original principal amount of $500,000) (collectively referred to as the working capital notes).

The maturity date of these existing working capital notes is June 30, 2013.