Beneficial Ownership of Major Stockholders

The following table sets forth a list of stockholders having to the knowledge of the Company, a direct or indirect interest in five percent or more of the voting rights of the Company and their holdings as of April 17, 2014.

Shareholder Number of Common Shares Percentage of Total Voting Rights(1)
Camden Partners Strategic Manager, LLC 6,768,874 10.9%
Andwel Partners and Trust 5,034,776(2) 8.2%
Blackrock, Inc. 4,142,903 6.7%
Andrew Paul 3,995,902 (2) 6.5%
Grow Partners, LLC 2,973,000 4.8%

(1) Percentage voting rights is based on 61,711,257 Common Shares, comprising 54,860,113 Common Shares issued and outstanding as of April 17, 2014 and 6,851,144 Common Shares arising on conversion of 2,243,750 Series A Preferred Shares, which were issued and outstanding as of that date.
(2) Includes Common Shares arising upon conversion of Series A Preferred Shares.