STOCKHOLDERS’ EQUITY

9 Months Ended

Sep. 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 nine months ended September 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 nine months ended September 30, 2022, 221,424 shares were issued and vested.

Preferred Stock

Series H Convertible Preferred Stock

As of September 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 September 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 September 30, 2022	$	0.59
Liquidation Value	$	4

Series H-3 Convertible Preferred Stock

As of September 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 September 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 September 30, 2022	$	0.59
Liquidation Value	$	607

Series H-6 Convertible Preferred Stock

As of September 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 September 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 September 30, 2022	$	0.59
Liquidation Value	$	850

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		2.31
Granted		-			-
Exercised		-			-
Expired		(2,800	)		165.60
Outstanding at September 30, 2022		6,106,023		$	7.30		1.57