Note 13 – Subsequent Events

On July 7, 2022, the Company agreed to issue 50,167 shares of restricted common stock with a fair market value of $2.99 per share or $150,000 and 38,265 common stock warrants with an exercise price of $5.48 with a fair market value of $75,000 to a vendor for marketing services.

August 2022 Offering

On August 15, 2022, the Company entered into a definitive agreement to sell 1,411,764 shares of Common Stock in a registered direct offering and issue warrants to purchase up to 1,411,764 shares of Common Stock in a private placement for gross proceeds of approximately $6.0 million, before deducting placement agent fees and offering expenses payable by the Company. Dawson James Securities, Inc. acted as lead placement agent for the offering and Katalyst Securities served as a financial advisor.

All of the securities being sold in the offering were offered by MyMD. At closing, the Company expects to receive net proceeds from the offering of approximately $5.4 million, after deducting placement agent fees and offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital and to fund other general corporate purposes.