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STOCKHOLDERS’ EQUITY

3 Months Ended

Mar. 31, 2023

Cash and Cash Equivalents [Abstract]

NOTE 9. STOCKHOLDERS’ EQUITY

Restricted Stock

On February 1, 2022, pursuant to the AYRO, Inc. 2020 Long-Term Incentive Plan, the Company issued 442,248 shares of restricted stock to non-executive directors at a value of $1.29 per share. As of December 31, 2022, 110,562 shares of common stock remained unissued; these shares were issued during the three months ended March 31, 2023.

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. As of December 31, 2021, 43,000 shares of common stock remained unissued; these shares were issued during the three months ended March 31, 2022.

Series H Convertible Preferred Stock

SCHEDULE OF PAYMENT OF PREFERRED STOCK


Number of Series H Preferred Stock outstanding as of March 31, 2023		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, 2023	$	0.55
Equals the payment	$	4

Series H-3 Convertible Preferred Stock

SCHEDULE OF PAYMENT OF PREFERRED STOCK


Number of Series H-3 Preferred Stock outstanding as of March 31, 2023		1,234
Multiplied by the stated value	$	138
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, 2023	$	0.55
Equals the payment	$	565

Series H-6 Convertible Preferred Stock

SCHEDULE OF PAYMENT OF PREFERRED STOCK


Number of Series H-6 Preferred Stock outstanding as of March 31, 2023		50
Number of Series H Preferred Stock outstanding as of March 31, 2023		50
Multiplied by the stated value	$	72
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, 2023	$	0.55
Equals the payment	$	792

Warrants

A summary of the Company’s warrants to purchase common stock activity is as follows:

SCHEDULE OF WARRANT ACTIVITY

	Shares Underlying Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)
Outstanding at December 31, 2022		6,106,023		$	7.30		1.32
Granted		-			-
Exercised		-			-
Expired		(78,355	)		11.29
Outstanding at March 31, 2023		6,027,668		$	7.25		1.09