13D Filing: Raging Capital Management and SMG Indium Resources Ltd. (OTCMKTS:SMGI)

(b)       Raging
Capital and William C. Martin may be deemed to share the power to vote and dispose of the shares of Common Stock held by Raging
Master. Mr. Martin has the sole power to vote and dispose of the shares of Common Stock he directly owns.

(c)       The
Reporting Persons have not entered into any transactions in the securities of the Issuer during the past 60 days.