On May 25, 2017, WealthColony Management Group, LLC, as the General Partner of the Limited Partnership, delivered a letter to the Board of Directors of the Soupman, Inc. on behalf of the Limited Partnership, requesting that the Board of Directors promptly (i) appoint Jeffrey Freedman and Patrick Guadagno as members of the Board of Directors and (ii) accept the resignations of Jamieson Karson and Ronald Crane as members of the Board of Directors. The letter advised the Board that upon reconstitution of the Board, the Board will retain the services of Jamieson Karson as Chief Executive Officer until his replacement can be identified. The letter further advised the Board that if the Board does not accept the proposal by May 26, 2017, WealthColony Management Group, LLC reserves the right to pursue all other options to protect the Limited Partnership’s investment in the Company, including, but not limited to, seeking to change the composition of the Company’s Board of Directors.