On September 19, 2012, Los Angeles Syndicate of Technology, Inc. announced that at meeting of the Board of Directors accepted the resignation of Paul Johnson, an independent member of the Board of Directors. There was no dispute or disagreement with the Company or its Board of Directors. The Board of Directors appointed Bryan Engler to be a member of the Board of Directors.

Mr. Engler was elected as a director and Mr. Engler has accepted this appointment. Currently Mr. Engler works on the small cap equity team at Great Lakes Advisors.