ELEPHANT TALK COMMUNICATIONS

CUSIP: 28620220 Class: COM NEW

INGALLS & SNYDER LLC's Holding History (CIK: 0001041885)

Note: Option positions (PUT/CALL) are excluded.

Q1 2016
Shares 25,000 Value ($000) $5 Avg Close — Range —
Q4 2015
Shares 25,000 Value ($000) $6 Avg Close — Range —