The Company agreed to the deregistration of its shares with the SEC. When it
completes its financial audits, the Company intends to re-register with the SEC
and re-list on an exchange. The shareholders who purchased shares when it was
publicly listed retain their exact same number of shares and proportional
ownership interest in Libsyn as a private company.

While not currently required to file or publish quarterly and annual financial
reports, Libsyn has stated that its Advertising business grew more than 50% in
2021, and the Company is focused on continuing to grow both the podcast hosting
and the podcast advertising business.

Additionally, under the new CFO, the Company has built out its financial team
with Steve Thorn joining from E&Y and A10 as Global Director of Tax and Mike
McHugh joining from KPMG and Fortune Brands as Director of SEC Reporting and
Technical Accounting.