Annual report pursuant to Section 13 and 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 16 SUBSEQUENT EVENTS

 

Equity financing:

 

On March 22, 2022, the Company closed a registered direct offering (the “Offering”) of an aggregate of 2,613,130 shares of our common stock, at an offering price of $1.15 per share and (ii) warrants to purchase up to 2,613,130 shares of our common stock, at an exercise price of $1.40 per share, that will become exercisable six months after the date of issuance and will expire three and one-half years following the date of issuance, for gross proceeds of approximately $3.0 million before the deduction of fees and offering expenses.

 

The common stock and warrants were offered by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-251859) (the “Shelf Registration Statement”), previously filed with the SEC on December 31, 2020, and declared effective by the SEC on January 12, 2021, and a prospectus supplement, dated March 21, 2022, to the Shelf Registration Statement, filed with the SEC on March 22, 2022.

 

Equity transactions:

 

On January 3, 2022, the Company issued an aggregate of 75,000 shares of its common stock for services previously granted and accrued on December 29, 2021 valued at $167,250.

 

On January 4, 2022, the Company issued an aggregate of 53,749 shares of its common stock for previously issued vested restricted stock units.

 

On January 27, 2022, The Company issued an aggregate of 40,000 shares of its common stock for services valued at $72,800.

 

On February 1, 2022, the Company issued a 25,000 restricted stock unit to a consultant for services rendered with 12,500 shares vesting immediately and 12,500 shares vesting upon completion of certain milestones valued at $56,750. The vested shares of 12,500 were issued on February 1, 2022.

 

On February 15, 2022, the Company issued 12,500 shares of its common stock for a previously issued restricted stock units.

 

On February 7, 2022, the Company granted an aggregate of 250,000 options to purchase shares of its common stock to consultants. The options are exercisable at $1.72 per share for ten years with (i) 100,000 options vesting in equal quarterly installments over one year, and (ii) 150,000 options vesting 50% at grant date and 50% upon milestone of $7 million revenue.

 

On February 17, 2022, the Company granted 30,000 options to purchase shares of its common stock to a consultant. The options are exercisable at $1.58 per share for ten years vesting in equal quarterly installments over one year.

 

On February 17, 2022, the Company granted an aggregate of 36,000 options to purchase shares of its common stock to two employees. The options are exercisable at $1.58 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.

 

In March 2022, the Company issued a 25,000 restricted stock unit to a consultant for services rendered. The restricted stock unit vests quarterly over one year and valued at $56,750.

 

On March 15, 2022, BioSig granted an aggregate of 70,000 options to purchase shares of its common stock to three employees. The options are exercisable at $1.28 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 March 21, 2022, the Company issued 50,000 shares of its common stock to an officer for services valued at $70,000.

 

On March 30, 2022, the Company granted 350,000 options to purchase shares of its common stock an employee. The options are exercisable at $1.30 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.