rVue, Inc. Announces Default on Secured Loans and Likely Sale

CHICAGO, IL--(Marketwired - May 10, 2017) - rVue Holdings, Inc. (OTC PINK: RVUE), a premier advertising technology platform for digital location video, announced that the Company has received a notice of default and a demand for payment from Roche Enterprises, Ltd., formerly known as Acorn Composite Corp. ("Roche Enterprises"), the Company's majority shareholder and an affiliate of director Robert Roche.

Roche Note 1 Default

As previously reported in the Company's Current Report on Form 8-K filed October 11, 2016, on that date the Company executed documentation with Roche Enterprises pursuant to which Roche Enterprises provided the Company with short-term bridge financing in the form of a Senior Secured Convertible Promissory Note ("Roche Note 1") in the principal amount of $201,000 as the Company sought additional financing. The Company's obligations under Roche Note 1 are secured by a pledge of all of the Company's assets. Roche Note 1 matured on December 1, 2016. The Company was unable to repay Roche Note 1 at maturity and was not successful in negotiating a forbearance with Roche Enterprises. The loan is now in default.

Roche Note 2 Default

As previously reported in the Company's press release issued on January 31, 2017, on that date the Company executed documentation with Roche Enterprises pursuant to which Roche Enterprises provided the Company with additional short-term bridge financing in the form of a Senior Secured Convertible Promissory Note ("Roche Note 2") in the principal amount of $80,000 as the Company sought additional financing. The Company's obligations under Roche Note 2 are secured by a pledge of all of the Company's assets. Roche Note 2 matured on April 30, 2017. The Company was unable to repay Roche Note 2 at maturity and was not successful in negotiating a forbearance with Roche Enterprises. The loan is now in default.

Roche Note 3

On April 28, 2017, the Company executed documentation with Roche Enterprises pursuant to which Roche Enterprises provided the Company with additional short-term bridge financing in the form of a Secured Promissory Note and Security Agreement ("Roche Note 3" and together with Roche Note 1 and Roche Note 2, the "Roche Notes") in the principal amount of $135,000. The Company's obligations under Roche Note 3 are secured by a pledge of all of the Company's assets. Roche Note 3 is payable upon demand. The Company expects that the proceeds of Roche Note 3 will permit it to continue its operations through the end of May 2017. Mr. Roche recused himself from the Board of Directors' consideration and approval of Roche Note 3.