On April 13, 2015, the Board of Directors of Creative Realities, Inc. and Paul Price, Chief Executive Officer of Creative Realities, agreed to terminate Mr. Price's employment agreement with Creative Realities without cause. Such termination was effective immediately and effected the immediate removal of Mr. Price from his position as a member of the Board of Directors. Also on April 13, 2015, the Board of Directors appointed John Walpuck as Creative Realities' interim Chief Executive Officer. Mr. Walpuck has served as Chief Financial and Operating Officer of Creative Realities since August 1, 2014.

For the year ended December 31, 2014, the company anticipates reporting net sales of approximately $14 million as compared to approximately $11.6 million reported for the year ended December 31, 2013, an increase of approximately 20%. The company continued to win and deliver new projects in the apparel, automotive, department store and food service markets and to support the digital shopper marketing needs of its longstanding existing clients. On a pro forma basis, taking into account the results of Creative Realities, Inc. and Wireless Ronin Technologies, Inc. and assuming the merger took place on January 1, 2014, the company would have reported pro forma revenues of approximately $17 million for the year ended December 31, 2014. The pro forma results are non-GAAP financial metrics and are not meant to be considered in isolation or as a substitute for the comparable GAAP measures and should be read in conjunction with consolidated financial statements prepared in accordance with GAAP.