STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2021

STOCKHOLDERS' EQUITY

NOTE 5 — STOCKHOLDERS’ EQUITY:

(a)

Common Stock

During the first three months of 2021 and 2020, there were no options exercised.

(b)

Preferred Stock

Chembio has 10,000,000 shares of preferred stock authorized and none outstanding. These shares can become issuable upon an approved resolution by the Board of Directors of Chembio (the “Board”) and the filing of a Certificate of Designation with the State of Nevada.

(c)

Treasury Stock

Chembio has 41,141 shares of common stock held in treasury that were acquired upon the vesting of restricted stock awards related to the tax withholding requirements paid on behalf of the employees.

(d)

Options, Restricted Stock, and Restricted Stock Units

The Board or its Compensation Committee may issue options, restricted stock, and restricted stock units pursuant to equity incentive plans that have been approved by Chembio’s stockholders.