Jeff Toghraie - Apr 22, 2024 Form 4 Insider Report for Axil Brands, Inc. (AXIL)

Role: Chairman, CEO, Director, 10%+ Owner
Signature: /s/ Jeff Toghraie
Stock symbol: AXIL
Transactions as of: Apr 22, 2024
Transactions value $: $0
Form type: 4
Date filed: 4/24/2024, 04:29 PM
Previous filing: Mar 21, 2024
Next filing: Oct 15, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	AXIL	Common Stock						1.25M	Apr 22, 2024	By Intrepid Global Advisors	F1

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	AXIL	Series A Preferred Stock	Purchase		+3.75M	+89.14%		7.96M	Apr 22, 2024	Common Stock	188K		By Intrepid Global Advisors	F1, F3, F4
transaction	AXIL	Series A Preferred Stock	Purchase		+7.5M	+94.26%		15.5M	Apr 22, 2024	Common Stock	375K		By Intrepid Global Advisors	F1, F3, F5
holding	AXIL	Stock Option (right to buy)						155K	Apr 22, 2024	Common Stock	155K	$1.80	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Jeff Toghraie is the managing director of Intrepid Global Advisors, Inc.
F2	Options vest as follows: 25% of the original grant amount vested on September 1, 2022 and the remainder vests in 24 equal monthly installments on the first day of each month, beginning October 1, 2022.
F3	The Series A Preferred Stock, par value $0.0001 per share (the "Preferred Stock"), is convertible into shares of the Issuer's common stock on a twenty-for-one basis, at the option of the holder, at any time after the second anniversary of the date that the Issuer first issued shares of Preferred Stock, or June 16, 2022; provided, that the holder may not convert that number of shares of Preferred Stock which would cause the holder to become the beneficial owner of more than 5% of the Issuer's common stock, as determined in accordance with Sections 13(d) and (g) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder. The Preferred Stock has no expiration date.
F4	On April 22, 2024, Intrepid Global Advisors, Inc. purchased 3,750,000 shares of Preferred Stock (equivalent to 187,500 shares of the Issuer's common stock on an as-converted basis) for cash consideration of $22,500, pursuant to a repurchase agreement entered into with the previous holder of such Preferred Stock.
F5	Also on April 22, 2024, Intrepid Global Advisors, Inc. purchased an additional 7,500,000 shares of Preferred Stock (equivalent to 375,000 shares of the Issuer's common stock on an as-converted basis) for cash consideration of $45,000, pursuant to a repurchase agreement entered into with the previous holder of such Preferred Stock.