Milton C. Ault III - 20 May 2022 Form 4 Insider Report for Alzamend Neuro, Inc. (ALZN)

Role: 10%+ Owner
Signature: /s/ Milton C. Ault, III
Issuer symbol: ALZN
Transactions as of: 20 May 2022
Net transactions value: $0
Form type: 4
Filing time: 24 May 2022, 17:00:17 UTC
Previous filing: 18 May 2022
Next filing: 26 May 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ALZN	Common Stock	Other	$9,750	+3,900	+0.04%	$2.50^*	9,820,567	20 May 2022	By Digital Power Lending, LLC	F1, F2
holding	ALZN	Common Stock						2,500,000	20 May 2022	Direct
holding	ALZN	Common Stock						14,942,984	20 May 2022	By Ault Life Sciences, Inc.	F3
holding	ALZN	Common Stock						10,000,000	20 May 2022	By Ault Life Sciences Fund, LLC	F4
holding	ALZN	Common Stock						325,000	20 May 2022	By Ault Alpha LP	F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ALZN	Put Option (obligation to buy)	Other	$9,750	-39	-100%	$250.00	0	20 May 2022	Common Stock	3,900	$2.50	By Digital Power Lending, LLC	F1, F2, F6
holding	ALZN	Call Option (right to buy)						70	20 May 2022	Common Stock	7,000	$2.50	By Digital Power Lending, LLC	F2, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On November 4, 2021, DPL wrote 50 put option contracts expiring in May 2022, which provided that DPL will be required to purchase shares of common stock at the stated strike price if the counterparty exercises such put options. On the transaction date listed above, the counterparty exercised 39 of such put options at $2.50 per share of common stock.
F2	Digital Power Lending, LLC ("DPL") is a wholly-owned subsidiary of BitNile Holdings, Inc. ("BH"). Mr. Ault, the Executive Chairman of BH, is deemed to have voting and investment power with respect to the securities held of record by DPL.
F3	Mr. Ault has sole voting and investment power with respect to the securities held of record by Ault Life Sciences, Inc.
F4	Mr. Ault has sole voting and investment power with respect to the securities held of record by Ault Life Sciences Fund, LLC.
F5	Milton C. Ault, III, is the Manager of Ault Alpha GP LLC ("Ault GP") and Ault Capital Management LLC ("AC Management"). Ault GP and AC Management are the general partner and investment manager to Ault Alpha LP, respectively. As such, Mr. Ault is deemed to beneficially own the shares held by Ault Alpha LP.
F6	The security listed is an exchange-traded option contract. Exchange-traded options are immediately exercisable and remain exercisable until expiration.