SPECTRASCIENCE INC

During the nine months ended September 30, 2017, three affiliates of the Company advanced to the Company cash in an accumulated amount of $4,500.

The balance of the notes at September 30, 2017 is $39,500.

During the nine months ended September 30, 2017, in conjunction with the sale of Convertible Debentures, the Company issued five-year common stock purchase warrants to acquire up to 8,000,000 shares to holders of the Debentures. In addition, the Company issued five-year common stock purchase warrants to acquire up to 1,050,000 shares to an agent who assisted in this financing. These warrants have an exercise

price of $0.02 per share. The value of the warrants was determined using the Black Sholes option pricing model. The value of the warrants issued to the note holder, $4,386, were reflected as a discount to the notes and the value of the warrants issued to the agent, $584, were reflected as a non-cash operating expense.

On November 2, 2017, the Board of Directors of the Company authorized an amendment to the Company’s Articles of Incorporation, as amended (the “Articles of Incorporation”), in the form of a Certificate of Designation that authorized the issuance of up to six thousand (6,000) shares of Series AA Preferred Stock, par value $0.001 per share, which was an increase of 3,000 shares from the previously issued Series AA Preferred Stock.

Each holder of outstanding shares of Series AA Super Voting Preferred Stock continues to be entitled to one million (1,000,000) votes for each share of Series AA Super Voting Preferred Stock held on the record date for the determination of stockholders entitled to vote at each meeting of stockholders of the Company. The holders are restricted from voting the preferred shares for any proposal on the election of directors.