ELEPHANT TALK COMM CORP

CUSIP: 286202205 Class: COM NEW

Janney Montgomery Scott LLC's Holding History (CIK: 0001329948)

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

Q2 2014

Shares 18,600 Value ($000) $17,670 Avg Close — Range —

Q1 2014

Shares 16,500 Value ($000) $17,490 Avg Close — Range —

Q4 2013

Shares 25,100 Value ($000) $30,873 Avg Close — Range —

Q3 2013

Shares 33,100 Value ($000) $22,177 Avg Close — Range —

Q2 2013

Shares 33,100 Value ($000) $19,397 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2014	18,600	$17,670	—	—
Q1 2014	16,500	$17,490	—	—
Q4 2013	25,100	$30,873	—	—
Q3 2013	33,100	$22,177	—	—
Q2 2013	33,100	$19,397	—	—