Milton C. Ault III - 11 Nov 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
11 Nov 2022
Net transactions value
+$1,400,001
Form type
4
Filing time
15 Nov 2022, 15:30:22 UTC
Previous filing
10 Nov 2022
Next filing
17 Nov 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 $1,400,001 +933,334 +9.2% $1.50 11,037,001 11 Nov 2022 By Ault Lending, LLC F1, F2
holding ALZN Common Stock 2,500,000 11 Nov 2022 Direct
holding ALZN Common Stock 14,942,984 11 Nov 2022 By Ault Life Sciences, Inc. F3
holding ALZN Common Stock 10,000,000 11 Nov 2022 By Ault Life Sciences Fund, LLC F4
holding ALZN Common Stock 325,000 11 Nov 2022 By Ault Alpha LP F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In November 2022, the Issuer entered into an agreement for marketing and brand development services with BitNile Holdings, Inc. ("BH"), pursuant to which BH agreed to provide advertising, marketing, consulting, creative and/or digital services for the Issuer, for a fee of $1.4 million. The Issuer had the right, in its election, to pay the fee in cash or shares of common stock, with the shares to be valued at $1.50 per share. On November 11, 2022, the Issuer elected to pay the fee in Shares, and issued 933,334 shares to Ault Lending, LLC, ("Ault Lending") a wholly owned subsidiary of BH.
F2 Ault Lending is a wholly-owned subsidiary of 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 Ault Lending.
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.