On January 12, 2021, Activist Investing LLC announced that on December 2, 2020, it has entered in a letter agreement pursuant to which it agreed to sell all the 228,967 shares beneficially owned in Universal Security Instruments, Inc by Activist Investing to DPW Holdings, Inc., subject to the terms and conditions of the agreement. Activist Investing stated that the agreement closed on January 11, 2021 and the sale of the shares reported herein was undertaken pursuant to the agreement. As of the close of business on January 12, 2021, Activist directly beneficially owned 0 shares.