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Jeffrey H. Michel USCL Creditor Legal Disclosure Information

Jeffrey H. Michel is an investor and creditor of USCL. He is also a former Board of Director Member. Mr. Michel originally invested $60,000 in USCL common shares. Subsequent to that investment he increased his holdings by $20,000 to $80,000. He further advanced the company $30,000 in the firm’s syndicated bridge loan (SBL.) In April 2007 Mr. Michel advanced USCL $60,000 based on an agreement for USCL to fund the design and tooling for an ANSI compliant smart meter enclosure. Further, Mr. Michel claims to have spent $20,090.23 in travel and related expenses on behalf of USCL.

USCL former Board of Directors Member Jeffrey H. Michel, Tom Tamarkin, & Ron Nachman, mayor of Ariel Israel in the Mayor’s office in Ariel, Israel, December 2006USCL former Board of Directors Member Jeffrey H. Michel, Tom Tamarkin, & Ron Nachman, mayor of Ariel Israel in the Mayor’s office in Ariel, Israel, December 2006

In 2008 Mr. Michel resigned from the USCL Board of Directors. The company was unable to retire the financial claims by Mr. Michel for the loans and expenses. The two parties entered into a comprise settlement agreement calling for a quarterly $15,000 payment. USCL was able to fund three such payments based on loans and equity sales from existing shareholders. The company was unable to make the fourth payment. Thereafter Mr. Michel filed a lawsuit against USCL. The company did not have the funds to contest the lawsuit and therefore agreed to a stipulated judgment on April 28, 2011. No payments have been made by USCL to Mr. Michel since that time due to lack of funds.

Mr. Michel has written numerous demand letters to USCL and USCL has answered each demand letter. Mr. Michel has asserted in writing that Tom Tamarkin has personal liability for these obligations. Tom Tamarkin categorically rejects such claims based on the fact he did not personally guarantee the SBL or “Metter Enclosure Agreement;” he was not named as a defendant in Mr. Michel’s lawsuit; the stipulated judgment is against USCL. Mr. Michel has asserted his position predicated on his misunderstanding of a standard form UCC-1 statement and he has been advised in writing on numerous occasions of his misunderstanding.

Full disclosure was made to USCL shareholders regarding the Michel lawsuit in the 2010 shareholder meeting live video streamed and archived. Part three of the video discusses Mr. Michel.

Additional detailed discussion regarding the Michel matter was provided in the November 2012 USCL shareholder video which was produced in lieu of a shareholder meeting. Part 2 of the three part series discusses Mr. Michel.

The following documents provide the history. It is anticipated that when Tom Tamarkin is able to obtain funding for the company negotiations will take place between the parties and a cash settlement will be reached along with a hold harmless agreement against any future claims between the parties.

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