Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS??? EQUITY

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STOCKHOLDERS’ EQUITY
3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 10. STOCKHOLDERS’ EQUITY

 

Restricted Stock

 

On February 24, 2021, pursuant to the AYRO, Inc. 2020 Long-Term Incentive Plan, the Company issued 172,000 shares of restricted stock to non-executive directors at a value of $7.66 per share. 43,000 shares of common stock remained unissued as of December 31, 2021; these shares were issued during the three months ended March 31, 2022.

 

 

Series H Convertible Preferred Stock

 

As of March 31, 2022, such payment would be calculated as follows:

 

         
Number of Series H Preferred Stock outstanding as of March 31, 2022     8  
Multiplied by the stated value   $ 154  
Equals the gross stated value   $ 1,232  
Divided by the conversion price   $ 184.8  
Equals the convertible shares of Company Common Stock     7  
Multiplied by the fair market value of Company Common Stock as of March 31, 2022   $ 1.28  
Equals the payment   $ 9  

 

Series H-3 Convertible Preferred Stock

 

As of March 31, 2022, such payment would be calculated as follows:

 

         
Number of Series H-3 Preferred Stock outstanding as of March 31, 2022     1,234  
Multiplied by the stated value   $ 138.00  
Equals the gross stated value   $ 170,292  
Divided by the conversion price   $ 165.6  
Equals the convertible shares of Company Common Stock     1,028  
Multiplied by the fair market value of Company Common Stock as of March 31, 2022   $ 1.28  
Equals the payment   $ 1,316  

 

Series H-6 Convertible Preferred Stock

 

As of March 31, 2022, such payment would be calculated as follows:

 

         
Number of Series H-6 Preferred Stock outstanding as of March 31, 2022     50  
Multiplied by the stated value   $ 72.00  
Equals the gross stated value   $ 3,600  
Divided by the conversion price   $ 2.5  
Equals the convertible shares of Company Common Stock     1,440  
Multiplied by the fair market value of Company Common Stock as of March 31, 2022   $ 1.28  
Equals the payment   $ 1,843  

 

 

      Shares Underlying Warrants     Weighted Average Exercise Price     Weighted Average Remaining Contractual Term (in years)  
Outstanding at December 31, 2021       6,108,823     $ 7.37       2.56  
Granted       -       -          
Exercised       -       -          
Expired       (2,800 )     165.60          
Outstanding at March 31, 2022       6,108,823     $ 7.30       2.07