X0306 4 2014-03-25 0 0000058592 4Licensing Corp FOUR 0001492831 Massad Wade C/O 4LICENSING CORPORATION 767 THIRD AVENUE, 17TH FLOOR NEW YORK NY 10017 1 0 0 0 Common Stock Warrants (right to buy) 0.98 2014-03-25 4 P 0 153061 A 2014-03-25 2024-03-25 Common Stock 153061 153061 I Footnote Represents a warrant (the "Warrant") to purchase 153,061 shares of Issuer's common stock that was acquired in connection with the purchase of a Promissory Note dated March 25, 2014. No separate consideration was paid by Cleveland Capital, L.P. for the Warrant. The warrant is held by Cleveland Capital, L.P. The general partner of Cleveland Capital, L.P. is Cleveland Capital Management L.L.C. ("Cleveland Capital"). The reporting person is a member of Cleveland Capital and may have a pecuniary interest in the Warrant and the shares underlying the Warrant. The Reporting Person disclaims beneficial ownership of the Warrant and any shares underlying the Warrant in which he does not have a pecuniary interest. /s/ Wade Massad 2014-03-27