FLAGLER HOLDINGS, INC.
TALLAHASSEE, FLORIDA

Flagler Holdings, Inc. is a private investment firm engaged in the business of providing financial advisory services to corporate clients, investing firm capital, and playing a supportive role in the direction of the business of client companies. The two principals, Cliff Hinkle and Wayne Watters, have extensive combined financial, managerial, and operating experience with a wide range of companies and other institutions. We initially develop a relationship with companies through a financial advisory engagement. Our approach is to take a supportive role in the affairs of the company by helping direct corporate business plans and marketing strategies, and offering financial advisory services related to the assessment and initiation of strategic business transactions. Flagler also invests in public and private companies, often identifying investment opportunities through our participation in the development of business plans. Our preference is to own equity shares in our portfolio companies, either alone or in conjunction with other investors. We prefer to look for companies where we can understand their business model and where our advice and capital commitment can make a significant difference in the success of the company. We are long-term shareholders, patient in the deployment of capital, and invest in companies and managements with which we are comfortable. Flagler Holdings, Inc. is a private investment firm engaged in the business of providing financial advisory services to corporate clients, investing firm capital, and playing a supportive role in the direction of the business of client companies. The two principals, Cliff Hinkle and Wayne Watters, have extensive combined financial, managerial, and operating experience with a wide range of companies and other institutions. We initially develop a relationship with companies through a financial advisory engagement. Our approach is to take a supportive role in the affairs of the company by helping direct corporate business plans and marketing strategies, and offering financial advisory services related to the assessment and initiation of strategic business transactions. Flagler also invests in public and private companies, often identifying investment opportunities through our participation in the development of business plans. Our preference is to own equity shares in our portfolio companies, either alone or in conjunction with other investors. We prefer to look for companies where we can understand their business model and where our advice and capital commitment can make a significant difference in the success of the company. We are long-term shareholders, patient in the deployment of capital, and invest in companies and managements with which we are comfortable.