Asure Software, Inc.

Private Capital Management (PCM) follows a single fundamental value-based investment discipline. The firm invests primarily in publicly traded equity securities that trade on North American (predominantly US) exchanges. On occasion, investments may include publicly traded limited partnerships. For certain clients (including clients invested in PCM's Value Focus Strategy or the private and public investment funds they manage), the firm has the ability to invest in various financial instruments or derivatives (options) as well as non-equity securities such as corporate debt. PCM also has the ability to execute short sales for clients that have margin accounts and have permitted short selling. While the securities in which the firm invests typically trade on North American exchanges, they may be issued by companies that are based in, or have significant operations within, foreign countries; and companies that derive a significant portion of their revenues from outside North America. PCM manages two portfolio strategies: Value Equity Strategy and a more concentrated Value Focus Strategy. Both strategies are grounded on the firm's bottom-up investment approach. Clients who participate in the Value Equity Strategy are allowed to impose reasonable restrictions on their accounts, including limitations on investments in specific securities, industries, or sectors. PCM may invest in companies of any market-cap and and typically assumes an investment horizon of 3 to 5 years.

Pacific Ridge Capital Partners employs a disciplined, focused, long-term value-oriented investment approach. The firm focuses on investments in small-cap companies. They employ bottom-up fundamental research and economic analysis to identify demographic trends and select good companies that are trading at inexpensive prices.

Red Oak Partners manages the Red Oak Family of Funds with the goal of achieving consistent above average returns and capital appreciation through a combination of long-term and short-term investments while also attempting to preserve capital and mitigate risk through diversification of investments and hedging activities. Most of the partnerships' assets are invested in publicly traded equity securities of small-micro-cap and mid-cap companies ($1 million to $3 million). Assets are also invested in the private equity market. Red Oak focuses on companies that have a reasonable expectation of producing above average returns. Red Oak purchases equities they believe are undervalued and lack significant analyst coverage, and sells short equities they believe are overvalued. The firm invests without regard to market sector. More specifically, Red Oak seeks to invest the majority of the partnerships' assets in companies involved in special situation events and/or companies with strong stable franchises, a high value added service or product, attractive industry dynamics, proven managements, consistent excess cash flow, growth at a reasonable price (GARP) and other indicators of value. Red Oak seeks to sell short small/micro- and mid-cap equities of overvalued and troubled companies.Red Oak's investment strategies include investments in a wide variety of securities and financial instruments, domestic and foreign, of all kinds and descriptions, whether publicly traded or privately placed, including, but not limited to, common and preferred stocks, bonds and other debt securities, convertible securities, limited partnership interests, mutual fund shares, options, warrants, commodities, futures, derivatives (including swaps, forward contracts and structured instruments), currencies, monetary instruments and cash and cash equivalents.