Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 13 SUBSEQUENT EVENTS

 

Equity transactions:

 

On April 7, 2022, the Company issued 2,500 shares of its common stock for vested restricted stock units.

 

On April 13, 2022, BioSig granted an aggregate of 444,000 options to purchase shares of its common stock to employees. The options are exercisable at $1.14 per share for ten years with one-third vesting on the first anniversary of the date of grant, and the remaining two-thirds vesting in substantially equal quarterly installments over the following two years.

 

On April 1, 2022, ViralClear issued 196,778 shares of its common stock to BioSig as payment for accumulated accrued liabilities due BioSig in the amount of $944,635.

 

On May 6, 2022, the Company issued a 100,000 restricted stock unit to a consultant for services rendered with 50,000 shares vesting immediately and 50,000 shares vesting on the one-year anniversary of the date of grant valued at $81,000. The vested shares of 50,000 were issued on May 9, 2022.

 

On May 12, 2022, the Company granted 50,000 options to purchase shares of its common stock to a board member. The options are exercisable at $.82 per share for ten years with one-half vesting immediately and one-half vesting on the one year anniversary of the acceptance of the offer to serve as a member of the board on April 22, 2023.

 

Operating leases:

 

On April 4, 2022, the Company entered into a Seventh Amendment to the Office Lease at 12424 Wilshire Blvd in Los Angeles dated August 9, 2011 – it is the Fifth Extended Term with respect to Suite 745 and the Expansion Term with respect to Suite 740 which is from July 1, 2022 until July 31, 2025 with a fixed monthly rent beginning at $14,124 and escalating yearly to $15,130 in the final year. The security deposit remains unchanged at $27,404.