13D Filing: Lone Star Value Management and Edgewater Technology Inc (EDGW)

(e)       Other
than as set forth herein, no Reporting Person has, during the last five years, been party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws. Lone Star Value Management and Mr. Eberwein are each subject to a Securities and Exchange
Commission (“SEC”) administrative order, dated February 14, 2017 (File No. 3-17847), relating to alleged violations
of Section 13(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) and the rules promulgated thereunder,
including failing to disclose the members of a stockholder group, and further allegations that Mr. Eberwein violated Section 16(a)
of the Exchange Act and the rules promulgated thereunder, including failing to timely file initial statements of beneficial ownership
on Form 3 and changes thereto on Form 4. Without admitting or denying any violations, (i) Lone Star Value Management agreed to
cease and desist from committing or causing any violations of Section 13(d) of the Exchange Act and Rules 13d-1 and 13d-2 promulgated
thereunder, and paid a civil penalty of $120,000 to the SEC and (ii) Mr. Eberwein agreed to cease and desist from committing or
causing any violations of (x) Section 13(d) of the Exchange Act and Rules 13d-1 and 13d-2 promulgated thereunder and (y) Section
16(a) of the Exchange Act and Rules 16a-2 and 16a-3 promulgated thereunder, and paid a civil penalty to the SEC in the amount of
$90,000.

(f)       Mr.
Eberwein is a citizen of the United States of America.

Item 3 is hereby amended
and restated to read as follows:

The Shares purchased
by Lone Star Value Investors and held in the Separately Managed Account were purchased with working capital (which may, at any
given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as
otherwise noted, as set forth in Schedule A, which is incorporated by reference herein. The aggregate purchase price of the 264,312
Shares beneficially owned by Lone Star Value Investors is approximately $1,860,310, including brokerage commissions. The aggregate
purchase price of the 50,000 Shares held in the Separately Managed Account is approximately $375,826, including brokerage commissions.

Item 5 is hereby amended
and restated to read as follows:

The aggregate percentage
of Shares reported owned by each person named herein is based upon 13,439,400 Shares outstanding as of May 1, 2017, which is the
total number of Shares reported outstanding in the Issuer’s most recently filed Form 10-Q, filed with the Securities and
Exchange Commission on May 5, 2017.