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<P id=PARA1 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>UNITED STATES</B></FONT></P>
<P id=PARA2 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
<P id=PARA3 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>WASHINGTON, D.C. 20549</B></FONT></P>
<P id=PARA4 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA5 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>FORM 8-K</B></FONT></P>
<P id=PARA6 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA7 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>CURRENT REPORT</B></FONT></P>
<P id=PARA8 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934</B></FONT></P>
<P id=PARA9 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA10 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date of Report (Date of earliest event reported): <U></U><U><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; June 2, 2017</B></U><U>&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P id=PARA11 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
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<P id=PARA162 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt"><B>TWINLAB CONSOLIDATED HOLDINGS, INC.</B></P></TD></TR>
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<P id=PARA163 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt">(Exact name of registrant as specified in its charter)</P></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><U><B></B></U></FONT>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt"></P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;&nbsp;</P>
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<P id=PARA164 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><B>Nevada&nbsp;</B></P></TD>
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<P id=PARA165 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><B>001-55181</B></P></TD>
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<P id=PARA166 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><B>46-3951742</B></P></TD></TR>
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<P id=PARA167 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">(State or other jurisdiction</P></TD>
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<P id=PARA168 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">(Commission File Number)</P></TD>
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<P id=PARA169 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">(IRS Employer </P></TD></TR>
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<TD style="WIDTH: 39%">
<P id=PARA170 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">of incorporation)</P></TD>
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<P id=PARA171 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">&nbsp;</P></TD>
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<P id=PARA172 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">Identification No.)</P></TD></TR></TABLE>
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<P id=PARA173 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><B>4800 T-Rex Avenue, Suite 305, Boca Raton, Florida</B></P></TD>
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<P id=PARA174 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt"><B>33431</B></P></TD></TR>
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<P id=PARA175 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">(Address of principal executive offices)&nbsp;</P></TD>
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<P id=PARA176 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt">(Zip Code)</P></TD></TR></TABLE>
<P id=PARA21 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
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<P id=PARA177 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt">Registrant's telephone number, including area code&nbsp;&nbsp;&nbsp; </P></TD>
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<P id=PARA178 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><B>(561) 443-5301</B></P></TD></TR></TABLE>
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<P id=PARA179 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt"><B>N/A</B></P></TD></TR>
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<P id=PARA180 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt">(Former name or former address, if changed since last report)</P></TD></TR></TABLE>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<P id=PARA27 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<U>see</U> General Instruction A.2. below):</FONT></P>
<P id=PARA28 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA29 style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 9pt; MARGIN-TOP: 0px; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9744;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P id=PARA30 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA31 style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 9pt; MARGIN-TOP: 0px; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9744;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
<P id=PARA32 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA33 style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 9pt; MARGIN-TOP: 0px; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9744;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
<P id=PARA34 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA35 style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 9pt; MARGIN-TOP: 0px; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9744;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
<P id=PARA36 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA37 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167; 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167; 240.12b-2 of this chapter).</FONT></P>
<P id=PARA38 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA39 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Emerging growth company </FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9746;</FONT></P>
<P id=PARA40 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA41 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9633;</FONT></P>
<P id=PARA42 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT></P>
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<P id=PARA181.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT></P>
<P id=PARA45 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Section 1 &#8211; Registrant&#8217;s Business and Operations</B></FONT></P>
<P id=PARA46 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA47 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement.</B></FONT></P>
<P id=PARA48 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA49 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><U><I>Settlement Agreement</I></U><U><I>, Promissory Note, and Subordination Agreement</I></U></FONT></P>
<P id=PARA50 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA51 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On June 2, 2017, Twinlab Consolidated Holdings, Inc. (&#8220;<U>Twinlab Consolidated</U>&#8221; or the &#8220;<U>Company</U>&#8221;), Twinlab Consolidation Corporation (&#8220;<U>Twinlab</U>&#8221;), Nutrascience Labs, Inc. (&#8220;<U>NSL</U>&#8221; and together with Twinlab and Twinlab Consolidated, the &#8220;<U>Twinlab Parties</U>&#8221;), 2014 Huntington Holdings, LLC (&#8220;<U>2014 Huntington</U>&#8221;), Carolyn Holdings, LLC (&#8220;<U>Carolyn Holdings</U>&#8221;), NCL Holding Company, LLC (&#8220;<U>NC</U>&#8221;) and Vitacap Labs, LLC (&#8220;<U>Vita</U>&#8221; and together with 2014 Huntington, Carolyn Holdings and NC, the &#8220;<U>Huntington Parties</U>&#8221;) entered into a Settlement Agreement (&#8220;<U>Settlement Agreement</U>&#8221;) to resolve certain previous matters among the parties. </FONT></P>
<P id=PARA52 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA53 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">As previously disclosed, Twinlab and 2014 Huntington entered into a certain securities purchase agreement, dated as of August 1, 2014 (the &#8220;<U>SPA</U>&#8221;) pursuant to which Twinlab sold one million five hundred twenty eight thousand three hundred eighty four (1,528,384) shares of Twinlab common stock (the &#8220;<U>Twinlab Shares</U>&#8221;). Pursuant to the agreement and plan of merger, dated as of September 4, 2014, by and among Twinlab, TCC Merger Co. and Twinlab Consolidated, TCC Merger Co., a wholly-owned subsidiary of Twinlab Consolidated, merged with and into Twinlab (the &#8220;<U>Merger</U>&#8221;). As a result of the Merger, (i) Twinlab became a wholly-owned subsidiary of Twinlab Consolidated, (ii) the Twinlab Shares were converted into an equal number of shares of common stock, par value $0.001 per share (the &#8220;<U>Common Stock</U>&#8221;) of Twinlab Consolidated (the &#8220;<U>Twinlab Consolidated Shares</U>&#8221;) and (iii) Twinlab Consolidated became responsible for the obligations of Twinlab under the SPA. </FONT></P>
<P id=PARA54 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA55 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Pursuant to the SPA, Twinlab Consolidated became obligated to make a cash payment to 2014 Huntington because the sixty (60) day volume weighted average stock price of the Common Stock immediately prior to the eighteen (18) month anniversary of the closing of the SPA was less than $2.29 per share. This resulted in Twinlab Consolidated being obligated to pay 2014 Huntington an aggregate of three million two hundred thousand dollars ($3,200,000) (the &#8220;<U>Obligation</U>&#8221;).</FONT></P>
<P id=PARA56 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA57 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In order to settle the Obligation and resolve certain other matters, the Settlement Agreement provides (i) Twinlab Consolidated was required to issue an unsecured promissory note (the &#8220;<U>Note</U>&#8221;) in the aggregate principal amount of three million two hundred thousand ($3,200,000) dollars to 2014 Huntington, (ii) 2014 Huntington was required to return seven hundred seventy eight thousand three hundred eighty five (778,385) Twinlab Consolidated Shares (&#8220;<U>Subject Shares</U>&#8221;) to Twinlab Consolidated to be held in escrow on the terms and conditions set forth in the Settlement Agreement, (iii) Twinlab Consolidated is required to provide certain piggyback registration rights to 2014 Huntington in respect of the remaining seven hundred forty nine thousand nine hundred ninety nine (749,999) Twinlab Consolidated Shares (the &#8220;<U>Remaining Shares</U>&#8221;) held by 2014 Huntington and the Subject Shares and (iv) Carolyn Holdings and Twinlab Consolidated were required to enter into a four (4) year Lease (as defined below) for the premises located at 70 Carolyn Boulevard, Farmingdale, New York. </FONT></P>
<P id=PARA58 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT></P>
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<DIV id=PGNUM182  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">1</DIV>
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<P id=PARA182.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<P id=PARA59 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On June 2, 2017, Twinlab Consolidated executed the Note in favor of 2014 Huntington. Pursuant to the Settlement Agreement, the terms of the Note included the principal sum of three million two hundred thousand ($3,200,000) dollars together with interest on the unpaid principal balance. The Note accrues interest on the unpaid principal balance at the rate of eight and one-half percent (8.5%) per annum from August 6, 2016 through and including the date on which the entire principal balance shall have been paid in full. If the Note remains outstanding on August 15, 2017, the interest rate from and after August 15, 2017 shall be increased to ten percent (10%) per annum. Pursuant to the Settlement Agreement and the Note, Twinlab Consolidated paid 2014 Huntington fifty thousand ($50,000) dollars that was applied to the accrued interest from August 6, 2016 through June 2, 2017. Under the terms of the Note, Twinlab Consolidated shall pay ten thousand ($10,000) dollars of the accrued and unpaid interest in cash on the last day of each calendar month beginning June 30, 2017 and any accrued but unpaid interest in excess of ten thousand ($10,000) dollars shall accrue and be payable on the earlier to occur of June 2, 2019 or the date the Note is accelerated by 2014 Huntington following the occurrence and continuance of an event of default as defined in the Note. If the Note is accelerated following the occurrence of an event of default, interest shall accrue on the unpaid principal balance of the Note at the rate described above plus two percent (2%) per annum. </FONT></P>
<P id=PARA60 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA61 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Settlement Agreement became effective (the &#8220;<U>Effective Date</U>&#8221;) on June 2, 2017 upon the satisfaction of the following conditions: (a) Twinlab Consolidated&#8217;s issuance and delivery of the Note to 2014 Huntington along with a payment of fifty thousand ($50,000) dollars to 2014 Huntington that was applied as interest accrued on the Note from August 6, 2016, (b) 2014 Huntington&#8217;s delivery to Twinlab Consolidated of the stock certificate representing the Subject Shares to be held in escrow together with a stock power duly endorsed in blank or other instruments of transfer requested by Twinlab Consolidated and (c) Carolyn Holdings and Twinlab Consolidated have entered into the Lease as described below.</FONT></P>
<P id=PARA62 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA63 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">If the Note is paid off on or prior to August 14, 2017, the Subject Shares shall automatically be released from escrow, transferred and assigned to Twinlab Consolidated for no additional consideration. If the Note remains outstanding on August 15, 2017, Twinlab Consolidated shall have the right, but not the obligation, to pay one hundred forty thousand ($140,000) dollars (the &#8220;<U>Twinlab Option Price</U>&#8221;) to 2014 Huntington to purchase seven hundred sixty four thousand one hundred ninety two (764,192) of the Subject Shares (the &#8220;<U>Twinlab Purchase Option</U>&#8221;). Twinlab Consolidated shall be required to exercise the Twinlab Purchase Option and pay the Twinlab Option Price to 2014 Huntington no later than August 22, 2017. Upon the timely exercise and payment by Twinlab Consolidated of the Twinlab Option Price, seven hundred sixty four thousand one hundred ninety two (764,192) of the Subject Shares shall be released from escrow and transferred and assigned to the Company. If the Note remains outstanding on August 15, 2017 and Twinlab Consolidated does not timely exercise the Twinlab Purchase Option and pay the Twinlab Option Price, the Subject Shares shall be returned from escrow to 2014 Huntington and shall cease to be subject to repurchase by Twinlab Consolidated. </FONT></P>
<P id=PARA64 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA65 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Pursuant to the Settlement Agreement, Twinlab Consolidated agreed if, at any time on or after the Effective Date, it proposes to register any of its securities under the Securities Act of 1933, as amended (the &#8220;Act&#8221;) for its own account or for other holders (other than in connection with a registration on Form S-4 or Form S-8), Twinlab Consolidated will use its commercially reasonable efforts to include the Subject Shares and Remaining Shares held by 2014 Huntington in such registration, subject to certain limitations, restrictions and exceptions as specified in the Settlement Agreement. Twinlab Consolidated agreed to pay all registration expenses, as defined in the Settlement Agreement, relating to the registration obligations.</FONT></P>
<P id=PARA66 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT></P>
<DIV id=PGBK183  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR183  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM183  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">2</DIV>
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<DIV id=PGHDR183  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA183.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<P id=PARA67 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In connection with resolving certain other matters between the Twinlab Parties and Huntington Parties, NC rescinded a notice of termination, dated April 14, 2017, that it delivered to NSL. Additionally, the parties agreed that the second transition services and license agreement (the &#8220;<U>TSA</U>&#8221;), dated August 12, 2015, by and among NSL, NC, Vita and Carolyn Holdings is terminated and of no further force and effect. No party has any obligations or liabilities to any other party arising under, or related to, the TSA or its termination. The Settlement Agreement further provides that as the Effective Date, each of the following agreements are terminated and of no further force and effect: (i) a certain landlord&#8217;s agreement, dated March 1, 2016, by and among Carolyn Holdings, NC, NSL and Midcap Funding X Trust; and (ii) a certain licensor&#8217;s agreement, dated March 1, 2016, by and among NC, NSL and Midcap Funding X Trust. </FONT></P>
<P id=PARA68 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA69 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On June 2, 2017, 2014 Huntington (as a &#8220;<U>Subordinated Lender</U>&#8221;), Twinlab Consolidated, Twinlab, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NSL, Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, Joie Essance, LLC (collectively, &#8220;<U>Borrower</U>&#8221;) and Midcap Funding X Trust (&#8220;<U>Agent</U>&#8221;), entered into a subordination agreement (&#8220;<U>Subordination Agreement</U>&#8221;) in connection with the Settlement Agreement. Midcap Funding X Trust serves as Agent for the financial institutions or other entities from time to time parties to a senior loan agreement and as lender or holder of the senior loans that may exist from time to time (the &#8220;<U>Lenders</U>&#8221; and collectively with the Agent, the &#8220;<U>Senior Lenders</U>&#8221;). The Borrower and Senior Lenders are party to a credit and security agreement, dated January 22, 2015 pursuant to which the Senior Lenders have agreed to make certain loans and financial accommodations to the Borrower and the other credit parties. All of Borrower&#8217;s obligations to Senior Lenders under the senior loan agreement and the other senior loan documents are secured by liens on and security interests in substantially all of the existing and thereafter acquired personal property of Borrower. To induce the Agent and Senior Lenders to consent to the transactions contemplated by the Note, Agent and Senior Lenders have required the execution and delivery of the Subordination Agreement to set forth the relative rights and priorities of Senior Lenders and Subordinated Lender under the senior loan documents and subordinated loan documents. Pursuant to the Subordination Agreement, 2014 Huntington, as the Subordinated Lender, agreed that payment of subordinated loans are subordinated to the payment in full, as defined in the Subordination Agreement, of all senior loans. Payments on the Note may be made by Borrower if no event of default exists or will be created by such payment. Until the senior loans are paid in full, as defined in the Subordination Agreement, the Subordinated Lender agreed not to take any enforcement action, as defined in the Subordination Agreement, with respect to all or any portion of the subordinated loans, without the prior written consent of Agent. </FONT></P>
<P id=PARA70 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT></P>
<DIV id=PGBK184  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR184  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM184  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">3</DIV>
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<DIV id=PGHDR184  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA184.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<P id=PARA71 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The foregoing is a summary of the terms of the Settlement Agreement, unsecured promissory note and Subordination Agreement, respectively. The summary does not purport to be complete and is qualified in its entirety by reference to the Settlement Agreement, unsecured promissory note and Subordination Agreement, copies of which are attached herewith as Exhibit 10.165, Exhibit 10.166 and Exhibit 10.167, respectively, to this Form 8-K and incorporated herein by reference.</FONT></P>
<P id=PARA72 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA73 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA74 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><U><I>Real Estate Lease</I></U></FONT></P>
<P id=PARA75 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA76 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On June 2, 2017, Twinlab Consolidated and Carolyn Holdings entered in an Agreement of Lease (the &#8220;<U>Lease</U>&#8221;) regarding certain land with improvements in the building known as 70 Carolyn Boulevard, Farmingdale, New York (the &#8220;<U>Premises</U>&#8221;). The Lease is for a term of four (4) years commencing on June 2, 2017 (the &#8220;<U>Term</U>&#8221;) with an annual rental rate paid in equal monthly installments in advance on the first day of each month during the Term. The Lease is subject and subordinate to all ground or underlying leases and to all mortgages which are now or hereafter affect such leases or the real property of which the premises are a part.</FONT></P>
<P id=PARA77 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA78 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On June 2, 2017, Carolyn Holdings and Twinlab Consolidated entered into a rider to the Lease (&#8220;<U>Rider to the Lease</U>&#8221;) which is made a part of the Lease. Pursuant to the Rider to the Lease, Twinlab Consolidated, as tenant, will pay Carolyn Holdings, as Owner, a fixed rent (&#8220;<U>Minimum Base Rent</U>&#8221;) at the following annual rates: (i) during the first year of the Term, two hundred sixty thousand ($260,000) dollars in equal monthly installments of twenty one thousand six hundred sixty six and 67/100 ($21.666.67) dollars each, (ii) during the second year of the Term, two hundred sixty seven thousand eight hundred ($267,800) dollars in equal monthly installments of twenty two thousand three hundred sixteen and 67/100 ($22,316.67) dollars each, (iii) during the third year of the Term, two hundred seventy-five thousand eight hundred thirty-four ($275,834) dollars in equal monthly installments of twenty two thousand nine hundred eighty six and 17/100 ($22,986.17) dollars each, and (iv) during the fourth year of the Term, two hundred eighty-four thousand one hundred nine ($284,109) dollars in equal monthly installments of twenty three thousand six hundred seventy five and 75/100 ($23,675.75) dollars each. Additionally, Twinlab Consolidated will pay Carolyn Holdings, as additional rent, all operating expenses as defined in the Rider to the Lease. Twinlab Consolidated may have the opportunity to renew the term of the Lease for one additional consecutive period of two (2) years (&#8220;<U>Renewal Term</U>&#8221;). The Renewal Term will have the same terms and conditions as the Term except the Minimum Base Rent payable during the Renewal Term will increase by (x) three percent (3%) on the first day of the Renewal Term and (y) three percent (3%) on the first anniversary of the Renewal Term.</FONT></P>
<P id=PARA79 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA80 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On June 2, 2017, Carolyn Holdings, Twinlab Consolidated and Midcap Funding X Trust entered into a Landlord&#8217;s Agreement (&#8220;<U>Landlord&#8217;s Agreement</U>&#8221;) regarding the Premises subject to the Lease and Rider to the Lease. Pursuant to the Landlord&#8217;s Agreement, Carolyn Holdings was advised that Midcap Funding X Trust has a lien on Twinlab Consolidated&#8217;s collateral stored at the Premises. Carolyn Holdings agreed that the collateral would not be deemed a fixture or part of the Premises but would be considered personal property. Pursuant to the Landlord&#8217;s Agreement, the parties agreed that Carolyn Holdings would grant Midcap Funding X Trust with prompt and reasonable access to the Premises to the same extent of Twinlab Consolidated under the Lease in order to have access to and inspect or remove any or all of the collateral. </FONT></P>
<P id=PARA81 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT></P>
<DIV id=PGBK185  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR185  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM185  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">4</DIV>
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<DIV id=PGHDR185  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA185.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<P id=PARA82 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The foregoing is a summary of the terms of the Agreement of Lease, the Rider to the Lease and the Landlord&#8217;s Agreement, respectively. The summary does not purport to be complete and is qualified in its entirety by reference to the Agreement of Lease, the Rider to the Lease and the Landlord&#8217;s Agreement, respectively, copies of which are attached herewith as Exhibit 10.168, 10.169 and 10.170, respectively, to this Form 8-K and incorporated herein by reference.</FONT></P>
<P id=PARA83 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA84 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA85 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Section 2 &#8211; Financial Information</B></FONT></P>
<P id=PARA86 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA87 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Item 2.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></FONT></P>
<P id=PARA88 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA89 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA90 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The information set forth under "Item 1.01. Entry into a Material Definitive Agreement" of this Current Report on Form 8-K with respect to the entry into the Settlement Agreement, unsecured promissory note and the Subordination Agreement (as described above) is incorporated into this Item 2.03 by reference.</FONT></P>
<P id=PARA91 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA92 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA93 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA94 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Section 9 &#8211; Financial Statements and Exhibits</B></FONT></P>
<P id=PARA95 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA96 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></FONT></P>
<P id=PARA97 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA98 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA99 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</FONT></P>
<P id=PARA100 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL115S1  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA101 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Exhibit No.</B></FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA102 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Description</B></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">
<P id=PARA103 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.165</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">
<P id=PARA104 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Settlement Agreement, dated June 2, 2017, by and among Twinlab Consolidated Corporation, Twinlab Consolidated Holdings, Inc., Nutrascience Labs, Inc., 2014 Huntington Holdings, LLC, Carolyn Holdings, LLC, NCL Holding Company, LLC and Vitacap Labs, LLC.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">&nbsp;</TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">
<P id=PARA105 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.166</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">
<P id=PARA106 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Unsecured Promissory Note, dated June 2, 2017, issued by Twinlab Consolidated Holdings, Inc. in favor of 2014 Huntington Holdings, LLC.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">
<P id=PARA107 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.167</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">
<P id=PARA108 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subordination Agreement, dated June 2, 2017, by and among 2014 Huntington Holdings, LLC, Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, Joie Essance, LLC, and Midcap Funding X Trust.</FONT></P></TD></TR></TABLE>
<P id=PARA186 style="MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</P>
<DIV id=PGBK187  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR187  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM187  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">5</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>

<DIV id=PGHDR187  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA187.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<TABLE id=TBL115  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">
<P id=PARA109 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.168</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">
<P id=PARA110 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Agreement of Lease, dated June 2, 2017, between Carolyn Holdings, LLC and Twinlab Consolidated Holdings, Inc.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">
<P id=PARA111 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.169</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">
<P id=PARA112 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Rider to the Lease, dated June 2, 2017, by and between Carolyn Holdings, LLC and Twinlab Consolidated Holdings, Inc.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">
<P id=PARA113 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.170</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">
<P id=PARA114 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Landlord&#8217;s Agreement, dated June 2, 2017, by and among Carolyn Holdings LLC, Twinlab Consolidated Holdings, Inc. and Midcap Funding X Trust.</FONT></P></TD></TR></TABLE>
<P id=PARA116 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</P>
<DIV id=PGBK120  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR120  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM120  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">6</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>

<DIV id=PGHDR120  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA120.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<P id=PARA123 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>SIGNATURES</B></FONT></P>
<P id=PARA124 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA125 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></P>
<P id=PARA126 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA127 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL134  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 43%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 45%; VERTICAL-ALIGN: top" colSpan=4>
<P id=PARA128 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>TWINLAB CONSOLIDATED HOLDINGS, INC.</B></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 43%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 40%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 43%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 40%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 43%; VERTICAL-ALIGN: top">
<P id=PARA129 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Date: June 8, 2017</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: top">
<P id=PARA130 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">By:</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
<TD style="WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA131 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">/s/ Naomi L. Whittel</FONT></P></TD>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 43%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">
<P id=PARA132 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Naomi L. Whittel</FONT></P></TD>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 43%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 40%; VERTICAL-ALIGN: top">
<P id=PARA133 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Chief Executive Officer</FONT></P></TD>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">&nbsp;</TD></TR></TABLE>
<P id=PARA135 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT></P>
<DIV id=PGBK136  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR136  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM136  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">7</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>

<DIV id=PGHDR136  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA136.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<P id=PARA139 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>EXHIBIT INDEX</B></FONT></P>
<P id=PARA140 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL155  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA141 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Exhibit No.</B></FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA142 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Description</B></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">
<P id=PARA143 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.165</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">
<P id=PARA144 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Settlement Agreement, dated June 2, 2017, by and among Twinlab Consolidated Corporation, Twinlab Consolidated Holdings, Inc., Nutrascience Labs, Inc., 2014 Huntington Holdings, LLC, Carolyn Holdings, LLC, NCL Holding Company, LLC and Vitacap Labs, LLC.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">&nbsp;</TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">
<P id=PARA145 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.166</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">
<P id=PARA146 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Unsecured Promissory Note, dated June 2, 2017, issued by Twinlab Consolidated Holdings, Inc. in favor of 2014 Huntington Holdings, LLC.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">
<P id=PARA147 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.167</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">
<P id=PARA148 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subordination Agreement, dated June 2, 2017, by and among 2014 Huntington Holdings, LLC, Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, Joie Essance, LLC, and Midcap Funding X Trust.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">
<P id=PARA149 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.168</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">
<P id=PARA150 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Agreement of Lease, dated June 2, 2017, between Carolyn Holdings, LLC and Twinlab Consolidated Holdings, Inc.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">
<P id=PARA151 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.169</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">
<P id=PARA152 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Rider to the Lease, dated June 2, 2017, by and between Carolyn Holdings, LLC and Twinlab Consolidated Holdings, Inc.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 12%; VERTICAL-ALIGN: top">
<P id=PARA153 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.170</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 86%; VERTICAL-ALIGN: top">
<P id=PARA154 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Landlord&#8217;s Agreement, dated June 2, 2017, by and among Carolyn Holdings LLC, Twinlab Consolidated Holdings, Inc. and Midcap Funding X Trust.</FONT></P></TD></TR></TABLE>
<P id=PARA156 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA157 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA158 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;8</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT></P></BODY></HTML>
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tlcc20170608_8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 2, 2017
TWINLAB CONSOLIDATED HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Nevada
001-55181
46-3951742
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of incorporation)
Identification No.)
4800 T-Rex Avenue, Suite 305, Boca Raton, Florida
33431
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
(561) 443-5301
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □
Section 1 – Registrant's Business and Operations
Item 1.01.     Entry into a Material Definitive Agreement.
Settlement Agreement
, Promissory Note, and Subordination Agreement
On June 2, 2017, Twinlab Consolidated Holdings, Inc. ("
Twinlab Consolidated
" or the "
Company
"), Twinlab Consolidation Corporation ("
Twinlab
"), Nutrascience Labs, Inc. ("
NSL
" and together with Twinlab and Twinlab Consolidated, the "
Twinlab Parties
"), 2014 Huntington Holdings, LLC ("
2014 Huntington
"), Carolyn Holdings, LLC ("
Carolyn Holdings
"), NCL Holding Company, LLC ("
NC
") and Vitacap Labs, LLC ("
Vita
" and together with 2014 Huntington, Carolyn Holdings and NC, the "
Huntington Parties
") entered into a Settlement Agreement ("
Settlement Agreement
") to resolve certain previous matters among the parties.
As previously disclosed, Twinlab and 2014 Huntington entered into a certain securities purchase agreement, dated as of August 1, 2014 (the "
SPA
") pursuant to which Twinlab sold one million five hundred twenty eight thousand three hundred eighty four (1,528,384) shares of Twinlab common stock (the "
Twinlab Shares
"). Pursuant to the agreement and plan of merger, dated as of September 4, 2014, by and among Twinlab, TCC Merger Co. and Twinlab Consolidated, TCC Merger Co., a wholly-owned subsidiary of Twinlab Consolidated, merged with and into Twinlab (the "
Merger
"). As a result of the Merger, (i) Twinlab became a wholly-owned subsidiary of Twinlab Consolidated, (ii) the Twinlab Shares were converted into an equal number of shares of common stock, par value $0.001 per share (the "
Common Stock
") of Twinlab Consolidated (the "
Twinlab Consolidated Shares
") and (iii) Twinlab Consolidated became responsible for the obligations of Twinlab under the SPA.
Pursuant to the SPA, Twinlab Consolidated became obligated to make a cash payment to 2014 Huntington because the sixty (60) day volume weighted average stock price of the Common Stock immediately prior to the eighteen (18) month anniversary of the closing of the SPA was less than $2.29 per share. This resulted in Twinlab Consolidated being obligated to pay 2014 Huntington an aggregate of three million two hundred thousand dollars ($3,200,000) (the "
Obligation
").
In order to settle the Obligation and resolve certain other matters, the Settlement Agreement provides (i) Twinlab Consolidated was required to issue an unsecured promissory note (the "
Note
") in the aggregate principal amount of three million two hundred thousand ($3,200,000) dollars to 2014 Huntington, (ii) 2014 Huntington was required to return seven hundred seventy eight thousand three hundred eighty five (778,385) Twinlab Consolidated Shares ("
Subject Shares
") to Twinlab Consolidated to be held in escrow on the terms and conditions set forth in the Settlement Agreement, (iii) Twinlab Consolidated is required to provide certain piggyback registration rights to 2014 Huntington in respect of the remaining seven hundred forty nine thousand nine hundred ninety nine (749,999) Twinlab Consolidated Shares (the "
Remaining Shares
") held by 2014 Huntington and the Subject Shares and (iv) Carolyn Holdings and Twinlab Consolidated were required to enter into a four (4) year Lease (as defined below) for the premises located at 70 Carolyn Boulevard, Farmingdale, New York.
1
On June 2, 2017, Twinlab Consolidated executed the Note in favor of 2014 Huntington. Pursuant to the Settlement Agreement, the terms of the Note included the principal sum of three million two hundred thousand ($3,200,000) dollars together with interest on the unpaid principal balance. The Note accrues interest on the unpaid principal balance at the rate of eight and one-half percent (8.5%) per annum from August 6, 2016 through and including the date on which the entire principal balance shall have been paid in full. If the Note remains outstanding on August 15, 2017, the interest rate from and after August 15, 2017 shall be increased to ten percent (10%) per annum. Pursuant to the Settlement Agreement and the Note, Twinlab Consolidated paid 2014 Huntington fifty thousand ($50,000) dollars that was applied to the accrued interest from August 6, 2016 through June 2, 2017. Under the terms of the Note, Twinlab Consolidated shall pay ten thousand ($10,000) dollars of the accrued and unpaid interest in cash on the last day of each calendar month beginning June 30, 2017 and any accrued but unpaid interest in excess of ten thousand ($10,000) dollars shall accrue and be payable on the earlier to occur of June 2, 2019 or the date the Note is accelerated by 2014 Huntington following the occurrence and continuance of an event of default as defined in the Note. If the Note is accelerated following the occurrence of an event of default, interest shall accrue on the unpaid principal balance of the Note at the rate described above plus two percent (2%) per annum.
The Settlement Agreement became effective (the "
Effective Date
") on June 2, 2017 upon the satisfaction of the following conditions: (a) Twinlab Consolidated's issuance and delivery of the Note to 2014 Huntington along with a payment of fifty thousand ($50,000) dollars to 2014 Huntington that was applied as interest accrued on the Note from August 6, 2016, (b) 2014 Huntington's delivery to Twinlab Consolidated of the stock certificate representing the Subject Shares to be held in escrow together with a stock power duly endorsed in blank or other instruments of transfer requested by Twinlab Consolidated and (c) Carolyn Holdings and Twinlab Consolidated have entered into the Lease as described below.
If the Note is paid off on or prior to August 14, 2017, the Subject Shares shall automatically be released from escrow, transferred and assigned to Twinlab Consolidated for no additional consideration. If the Note remains outstanding on August 15, 2017, Twinlab Consolidated shall have the right, but not the obligation, to pay one hundred forty thousand ($140,000) dollars (the "
Twinlab Option Price
") to 2014 Huntington to purchase seven hundred sixty four thousand one hundred ninety two (764,192) of the Subject Shares (the "
Twinlab Purchase Option
"). Twinlab Consolidated shall be required to exercise the Twinlab Purchase Option and pay the Twinlab Option Price to 2014 Huntington no later than August 22, 2017. Upon the timely exercise and payment by Twinlab Consolidated of the Twinlab Option Price, seven hundred sixty four thousand one hundred ninety two (764,192) of the Subject Shares shall be released from escrow and transferred and assigned to the Company. If the Note remains outstanding on August 15, 2017 and Twinlab Consolidated does not timely exercise the Twinlab Purchase Option and pay the Twinlab Option Price, the Subject Shares shall be returned from escrow to 2014 Huntington and shall cease to be subject to repurchase by Twinlab Consolidated.
Pursuant to the Settlement Agreement, Twinlab Consolidated agreed if, at any time on or after the Effective Date, it proposes to register any of its securities under the Securities Act of 1933, as amended (the "Act") for its own account or for other holders (other than in connection with a registration on Form S-4 or Form S-8), Twinlab Consolidated will use its commercially reasonable efforts to include the Subject Shares and Remaining Shares held by 2014 Huntington in such registration, subject to certain limitations, restrictions and exceptions as specified in the Settlement Agreement. Twinlab Consolidated agreed to pay all registration expenses, as defined in the Settlement Agreement, relating to the registration obligations.
2
In connection with resolving certain other matters between the Twinlab Parties and Huntington Parties, NC rescinded a notice of termination, dated April 14, 2017, that it delivered to NSL. Additionally, the parties agreed that the second transition services and license agreement (the "
TSA
"), dated August 12, 2015, by and among NSL, NC, Vita and Carolyn Holdings is terminated and of no further force and effect. No party has any obligations or liabilities to any other party arising under, or related to, the TSA or its termination. The Settlement Agreement further provides that as the Effective Date, each of the following agreements are terminated and of no further force and effect: (i) a certain landlord's agreement, dated March 1, 2016, by and among Carolyn Holdings, NC, NSL and Midcap Funding X Trust; and (ii) a certain licensor's agreement, dated March 1, 2016, by and among NC, NSL and Midcap Funding X Trust.
On June 2, 2017, 2014 Huntington (as a "
Subordinated Lender
"), Twinlab Consolidated, Twinlab, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NSL, Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, Joie Essance, LLC (collectively, "
Borrower
") and Midcap Funding X Trust ("
Agent
"), entered into a subordination agreement ("
Subordination Agreement
") in connection with the Settlement Agreement. Midcap Funding X Trust serves as Agent for the financial institutions or other entities from time to time parties to a senior loan agreement and as lender or holder of the senior loans that may exist from time to time (the "
Lenders
" and collectively with the Agent, the "
Senior Lenders
"). The Borrower and Senior Lenders are party to a credit and security agreement, dated January 22, 2015 pursuant to which the Senior Lenders have agreed to make certain loans and financial accommodations to the Borrower and the other credit parties. All of Borrower's obligations to Senior Lenders under the senior loan agreement and the other senior loan documents are secured by liens on and security interests in substantially all of the existing and thereafter acquired personal property of Borrower. To induce the Agent and Senior Lenders to consent to the transactions contemplated by the Note, Agent and Senior Lenders have required the execution and delivery of the Subordination Agreement to set forth the relative rights and priorities of Senior Lenders and Subordinated Lender under the senior loan documents and subordinated loan documents. Pursuant to the Subordination Agreement, 2014 Huntington, as the Subordinated Lender, agreed that payment of subordinated loans are subordinated to the payment in full, as defined in the Subordination Agreement, of all senior loans. Payments on the Note may be made by Borrower if no event of default exists or will be created by such payment. Until the senior loans are paid in full, as defined in the Subordination Agreement, the Subordinated Lender agreed not to take any enforcement action, as defined in the Subordination Agreement, with respect to all or any portion of the subordinated loans, without the prior written consent of Agent.
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The foregoing is a summary of the terms of the Settlement Agreement, unsecured promissory note and Subordination Agreement, respectively. The summary does not purport to be complete and is qualified in its entirety by reference to the Settlement Agreement, unsecured promissory note and Subordination Agreement, copies of which are attached herewith as Exhibit 10.165, Exhibit 10.166 and Exhibit 10.167, respectively, to this Form 8-K and incorporated herein by reference.
Real Estate Lease
On June 2, 2017, Twinlab Consolidated and Carolyn Holdings entered in an Agreement of Lease (the "
Lease
") regarding certain land with improvements in the building known as 70 Carolyn Boulevard, Farmingdale, New York (the "
Premises
"). The Lease is for a term of four (4) years commencing on June 2, 2017 (the "
Term
") with an annual rental rate paid in equal monthly installments in advance on the first day of each month during the Term. The Lease is subject and subordinate to all ground or underlying leases and to all mortgages which are now or hereafter affect such leases or the real property of which the premises are a part.
On June 2, 2017, Carolyn Holdings and Twinlab Consolidated entered into a rider to the Lease ("
Rider to the Lease
") which is made a part of the Lease. Pursuant to the Rider to the Lease, Twinlab Consolidated, as tenant, will pay Carolyn Holdings, as Owner, a fixed rent ("
Minimum Base Rent
") at the following annual rates: (i) during the first year of the Term, two hundred sixty thousand ($260,000) dollars in equal monthly installments of twenty one thousand six hundred sixty six and 67/100 ($21.666.67) dollars each, (ii) during the second year of the Term, two hundred sixty seven thousand eight hundred ($267,800) dollars in equal monthly installments of twenty two thousand three hundred sixteen and 67/100 ($22,316.67) dollars each, (iii) during the third year of the Term, two hundred seventy-five thousand eight hundred thirty-four ($275,834) dollars in equal monthly installments of twenty two thousand nine hundred eighty six and 17/100 ($22,986.17) dollars each, and (iv) during the fourth year of the Term, two hundred eighty-four thousand one hundred nine ($284,109) dollars in equal monthly installments of twenty three thousand six hundred seventy five and 75/100 ($23,675.75) dollars each. Additionally, Twinlab Consolidated will pay Carolyn Holdings, as additional rent, all operating expenses as defined in the Rider to the Lease. Twinlab Consolidated may have the opportunity to renew the term of the Lease for one additional consecutive period of two (2) years ("
Renewal Term
"). The Renewal Term will have the same terms and conditions as the Term except the Minimum Base Rent payable during the Renewal Term will increase by (x) three percent (3%) on the first day of the Renewal Term and (y) three percent (3%) on the first anniversary of the Renewal Term.
On June 2, 2017, Carolyn Holdings, Twinlab Consolidated and Midcap Funding X Trust entered into a Landlord's Agreement ("
Landlord's Agreement
") regarding the Premises subject to the Lease and Rider to the Lease. Pursuant to the Landlord's Agreement, Carolyn Holdings was advised that Midcap Funding X Trust has a lien on Twinlab Consolidated's collateral stored at the Premises. Carolyn Holdings agreed that the collateral would not be deemed a fixture or part of the Premises but would be considered personal property. Pursuant to the Landlord's Agreement, the parties agreed that Carolyn Holdings would grant Midcap Funding X Trust with prompt and reasonable access to the Premises to the same extent of Twinlab Consolidated under the Lease in order to have access to and inspect or remove any or all of the collateral.
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The foregoing is a summary of the terms of the Agreement of Lease, the Rider to the Lease and the Landlord's Agreement, respectively. The summary does not purport to be complete and is qualified in its entirety by reference to the Agreement of Lease, the Rider to the Lease and the Landlord's Agreement, respectively, copies of which are attached herewith as Exhibit 10.168, 10.169 and 10.170, respectively, to this Form 8-K and incorporated herein by reference.
Section 2 – Financial Information
Item 2.03.     Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under "Item 1.01. Entry into a Material Definitive Agreement" of this Current Report on Form 8-K with respect to the entry into the Settlement Agreement, unsecured promissory note and the Subordination Agreement (as described above) is incorporated into this Item 2.03 by reference.
Section 9 – Financial Statements and Exhibits
Item 9.01.     Financial Statements and Exhibits.
(d)     Exhibits
Exhibit No.
Description
10.165
Settlement Agreement, dated June 2, 2017, by and among Twinlab Consolidated Corporation, Twinlab Consolidated Holdings, Inc., Nutrascience Labs, Inc., 2014 Huntington Holdings, LLC, Carolyn Holdings, LLC, NCL Holding Company, LLC and Vitacap Labs, LLC.
10.166
Unsecured Promissory Note, dated June 2, 2017, issued by Twinlab Consolidated Holdings, Inc. in favor of 2014 Huntington Holdings, LLC.
10.167
Subordination Agreement, dated June 2, 2017, by and among 2014 Huntington Holdings, LLC, Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, Joie Essance, LLC, and Midcap Funding X Trust.
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10.168
Agreement of Lease, dated June 2, 2017, between Carolyn Holdings, LLC and Twinlab Consolidated Holdings, Inc.
10.169
Rider to the Lease, dated June 2, 2017, by and between Carolyn Holdings, LLC and Twinlab Consolidated Holdings, Inc.
10.170
Landlord's Agreement, dated June 2, 2017, by and among Carolyn Holdings LLC, Twinlab Consolidated Holdings, Inc. and Midcap Funding X Trust.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
TWINLAB CONSOLIDATED HOLDINGS, INC.
Date: June 8, 2017
By:
/s/ Naomi L. Whittel
Naomi L. Whittel
Chief Executive Officer
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EXHIBIT INDEX
Exhibit No.
Description
10.165
Settlement Agreement, dated June 2, 2017, by and among Twinlab Consolidated Corporation, Twinlab Consolidated Holdings, Inc., Nutrascience Labs, Inc., 2014 Huntington Holdings, LLC, Carolyn Holdings, LLC, NCL Holding Company, LLC and Vitacap Labs, LLC.
10.166
Unsecured Promissory Note, dated June 2, 2017, issued by Twinlab Consolidated Holdings, Inc. in favor of 2014 Huntington Holdings, LLC.
10.167
Subordination Agreement, dated June 2, 2017, by and among 2014 Huntington Holdings, LLC, Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, Joie Essance, LLC, and Midcap Funding X Trust.
10.168
Agreement of Lease, dated June 2, 2017, between Carolyn Holdings, LLC and Twinlab Consolidated Holdings, Inc.
10.169
Rider to the Lease, dated June 2, 2017, by and between Carolyn Holdings, LLC and Twinlab Consolidated Holdings, Inc.
10.170
Landlord's Agreement, dated June 2, 2017, by and among Carolyn Holdings LLC, Twinlab Consolidated Holdings, Inc. and Midcap Funding X Trust.
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