Effective on June 25, 2019, Mr. Omar Jimenez, the Chief Operating Officer, Chief Financial Officer, Treasurer, Secretary and Director of Monaker Group, Inc., provided notice to the Company of the fact that he does not intend to stand for re-election at the Company’s combined 2020/2019 annual meeting of shareholders to be held on August 15, 2019. Mr. Jimenez will continue to serve as a member of the Board of Directors until such meeting and will continue to serve as its Chief Operating Officer, Chief Financial Officer, Treasurer and Secretary following the meeting. Mr. Jimenez does not currently serve on any committees of the Board of Directors. Mr. Jimenez’s determination not to stand for re-election is not due to a disagreement with the Company’s operations, policies or procedures. On June 25, 2019, the Company borrowed $200,000 under the Note, which had a balance as of June 25, 2019, of $200,000. The amounts borrowed under the Note accrue interest at the rate of 12% per annum (18% upon the occurrence of an event of default) and are due and payable on February 1, 2020, provided that the note may be prepaid at any time without penalty. The Note contains standard and customary events of default. The remaining balance of the Note ($500,000) can be accessed by the Company at any time prior to the maturity date of the Note, with the approval of the Monaco Trust.