13D Filing: Lone Star Value Management and Hudson Global Inc. (HSON)

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

Item 3.

Source and Amount of Funds or Other Consideration.

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

The 7,458 Shares directly
owned by Lone Star Value GP were acquired upon a pro rata in-kind distribution from Lone Star Value Investors to its partners.

Of the 1,264,621 Shares
directly owned by Mr. Eberwein (i) 1,005,054 Shares were acquired upon a pro rata in-kind distribution from Lone Star Value Investors
to its partners, and (ii) 259,567 Shares beneficially owned by Mr. Eberwein represent
Shares underlying certain Share Units (“Share Units”) granted to Mr. Eberwein in connection with his service on the
Issuer’s Board of Directors, whereby each Share Unit represents a contingent right to receive one Share upon Mr. Eberwein’s
separation from service.

The Shares held in
the Lone Star Value 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 transactions. The aggregate purchase price of the 125,000 Shares held in
the Lone Star Value Account is approximately $356,644, including brokerage commissions.

Item 5.

Interest in Securities of the Issuer.

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 31,160,549 Shares outstanding as of February 7, 2018, which
is the total number of Shares outstanding as reported in the Issuer’s Definitive Proxy Statement on Schedule 14A filed with
the Securities and Exchange Commission on February 13, 2018.

A.

Lone Star Value Investors

(a)

As of the close of business on March 30, 2018, Lone Star Value Investors did not beneficially own any Shares.

Percentage: 0%

(b)

1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 0

(c)

Except as otherwise disclosed herein, there have been no transactions in securities of the Issuer by Lone Star Value Investors during the past sixty days. On March 29, 2018, Lone Star Value Investors engaged in a pro rata in-kind distribution of 2,650,000 Shares to its partners for no consideration (the “Lone Star Value Distribution).