QTWWD Quantum Fuel Systems Technologies Worldwide, Inc. (MM)

As a result of the Private Placement described in the Original Filing, the exercise price for the August 2008 Warrants was decreased to $43.65 and the number of shares subject to the August 2008 Warrants was increased to 1,237,758.

On January 19, 2011, the Company's senior lender demanded payment of $500,000 due under a certain promissory note referred to in the Company's financial statements as "Term Note B". The Company exercised its contractual right to satisfy the payment demand in shares of its common stock. On January 31, 2011, the Company issued its senior lender 53,384 (on a post 1-for-20 reverse stock split basis) shares of its common stock in payment of the $500,000 so demanded. The shares issued by the Company to its senior lender were issued to an accredited investor in a transaction exempt from Registration pursuant to Section 4(2) of the Securities Act of 1933. The transaction did not involve a public offering, was made without general solicitation or advertising, and there were no underwriting commissions or discounts.