On December 19, 2014, The Pulse Network, Inc. entered into a First Amendment to the Credit Agreement with TCA Global Credit Master Fund, LP. The First Amendment is dated effective December 16, 2014, and amends that certain Senior Secured Revolving Credit Facility Agreement, dated as of September 30, 2014 by and among the company, as borrower, and certain of its subsidiaries as joint and several guarantors, and the Lender, pursuant to which the company borrowed $2,400,000. Under the First Amendment, the company, among other things, borrowed $175,000, and will be eligible to borrow an additional $175,000 on December 30, 2014, and agreed to pay an additional advisory fee of $200,000 to Lender.

As of December 16, 2014, the Company had an aggregate amount of $2,191,073.30 due to Lender. In connection with the First Amendment, on December 19, 2014, the company executed a Replacement Revolving Note dated December 16, 2014, in the principal amount of $2,641,073.30.