Worldwide Energy (PINK:WEMU)

On November 21, 2011, Worldwide Energy & Manufacturing USA, Inc. (the “Company”) entered into a Forbearance Agreement (the “Agreement”) with Bank of the West (“Bank”) relating to that certain Business Loan Agreement dated as of May 20, 2008, as amended, (the “Loan Agreement”). Pursuant to the terms of the Loan Agreement, the Company issued to Bank a promissory note in the original principal amount of $2,000,000 on May 20, 2008 with an amended maturity date of November 30, 2011 (“Note No. 1”) and a promissory note in the original principal amount of $500,000 on May 20, 2008 having a maturity date of June 1, 2012 (“Note No. 2”, and collectively with Note No. 1, the Loan Agreement and all related ancillary documents, the “Loan Documents”), issued to Bank by the Company pursuant to the Loan Agreement. As of October 1, 2011, Note No. 1 had an unpaid principal balance of $1,250,000 plus accrued and unpaid interest owing of $4,687.50. As of October 1, 2011, Note No. 2 had an unpaid principal balance of $111,111.08 and accrued but unpaid interest owing of $338.54.