On November 3, 2015, Sibling Group Holdings, Inc. appointed Mr. Michael Horn and Mr. David Dai to fill two of the vacancies on the Board. Mr. Dai was appointed to the Board pursuant to the securities purchase agreement, effective as of February 27, 2015, between the company and Shenzhen City Qianhai Xinshi Education Management Co. Ltd. (Shenzhen) and certain accredited and institutional investors (together with Shenzhen, the Investors), the terms of which have been previously disclosed by the company.

The terms of the Securities Purchase Agreement provide that the Investors have the right to designate two individuals to serve on the company's Board. Mr. Dai has been appointed to the Board as one of these designees.