Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS??? EQUITY

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STOCKHOLDERS’ EQUITY
6 Months Ended
Jun. 30, 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 granted 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 six months ended June 30, 2022.

 

On February 1, 2022, pursuant to the AYRO, Inc. 2020 Long-Term Incentive Plan, the Company granted 442,249 shares of restricted stock to non-executive directors at a value of $1.29 per share. During the six months ended June 30, 2022, 110,562 shares were issued and vested.

 

 

Preferred Stock

 

Series H Convertible Preferred Stock

 

As of June 30, 2022, in the event of liquidation, the holders of preferred stock were entitled to receive payments as follows:

 

         
Number of Series H Preferred Stock outstanding as of June 30, 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 June 30, 2022   $ 0.84  
Equals the payment   $ 6  

 

Series H-3 Convertible Preferred Stock

 

As of June 30, 2022, in the event of liquidation, the holders of preferred stock were entitled to receive payments as follows:

       
Number of Series H-3 Preferred Stock outstanding as of June 30, 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 June 30, 2022   $ 0.84  
Equals the payment   $ 864  

 

Series H-6 Convertible Preferred Stock

 

As of June 30, 2022, in the event of liquidation, the holders of preferred stock were entitled to receive payments as follows:

 

         
Number of Series H-6 Preferred Stock outstanding as of June 30, 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 June 30, 2022   $ 0.84  
Equals the payment   $ 1,714  

 

Warrants

 

 

    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 June 30, 2022     6,106,023     $ 7.30       1.82