Moshe Shvets - Aug 14, 2023 Form 4 Insider Report for Dror Ortho-Design, Inc. (NVNT)

Role: Chief Technology Officer, Director
Signature: /s/ Moshe Shvets
Stock symbol: NVNT
Transactions as of: Aug 14, 2023
Transactions value $: $0
Form type: 4
Date filed: 9/27/2023, 09:31 PM
Next filing: Jun 25, 2024

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	NVNT	Series A Convertible Preferred Stock	Award		+692K			692K	Aug 14, 2023	Common Stock	69.2M	$0.01	Direct	F1, F2, F3
transaction	NVNT	Common Warrants	Award		+26.1M			26.1M	Aug 14, 2023	Common Stock	26.1M	$0.03	Direct	F4, F5, F6

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

Explanation of Responses:

Id	Content
F1	Shares of Series A Convertible Preferred Stock, par value $0.0001 per share and with a stated value of $1.10 per share (the "Preferred Stock") of Dror Ortho-Design, Inc. (formerly Novint Technologies, Inc.) (the "Company") shall be convertible, at any time and from time to time at the option of the Holder thereof, into shares of the company's common stock, par value $0.0001 per share (the "Common Stock") from and after the date the Company has reserved shares of Common Stock on behalf of the holders of the Preferred Stock.
F2	The Preferred Stock is perpetual and therefore has no expiration date.
F3	Pursuant to a Share Exchange Agreement, dated July 5, 2023 (as amended, the "Share Exchange Agreement"), by and among the Company, Dror Ortho-Design Ltd. ("Private Dror"), and the shareholders of Private Dror, the reporting person transferred 18,808 ordinary shares of Private Dror, representing all ordinary shares of Private Dror held by the reporting person, to the Company in exchange for shares of Preferred Stock (the "Share Exchange").
F4	Warrants will be exercisable from and after the date the Company has reserved shares of Common Stock on behalf of the holders of the warrants (the "Initial Exercise Date").
F5	Warrants expire on the fifth anniversary of the Initial Exercise Date.
F6	Pursuant to a Warrant Exchange Agreement, dated August 14, 2023, between the Company and the reporting person, simultaneously with the Share Exchange, warrants to purchase 7,109 ordinary shares of Private Dror, representing all warrants to purchase ordinary shares of Private Dror held by the reporting person, were cancelled, and the Company issued to the reporting person warrants to purchase shares of the Company's Common Stock with an exercise price of $0.033 per share (the "Warrant Exchange").