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Stockholders’ Equity (Deficit) (Tables)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Summary of Series F Activity

A summary of the Series F activity for the three months ended March 31, 2025 is as follows:

 Summary of Series F Activity

Date of Purchase		Shares Purchased				Gross Proceeds				Net Proceeds				Original Conversion Price				Shares Outstanding December 31, 2024				Series F Converted				Shares Outstanding March 31, 2025				Conversion Price at March 31, 2025				Shares Issuable at March 31, 2025
November 15, 2023			1,850			$	1,850,000			$	1,850,000			$	124.70				150				—				150			$	1.10				136,364
March 6, 2024			1,000				1,000,000				950,000				60.29				435				(335	)			100				1.10				90,909
April 12, 2024			1,050				1,050,000				1,050,000				37.00				1,050				(1,050	)			—				1.10				—
May 31, 2024			1,050				1,050,000				1,025,000				32.15				1,050				(525	)			525				1.10				477,273
July 25, 2024			500				500,000				500,000				23.15				500				(500	)			—				1.10				—
August 27, 2024			500				500,000				500,000				20.19				500				—				500				1.10				454,545
October 1, 2024 (i)			1,500				—				—				12.00				1,500				—				1,500				1.10				1,363,636
December 18, 2024			750				750,000				750,000				5.25				750				—				750				1.20	(ii)			623,131
February 7, 2025			1,000				1,000,000				1,000,000				2.22				—				—				1,000				1.20	(ii)			830,841
March 17, 2025			500				500,000				500,000				1.20				—				—				500				1.20				415,420
Total March 31, 2025			9,700			$	8,200,000			$	8,125,000			$	—				5,935				(2,410	)			5,025			$	—				4,392,119

	(i)	These shares were issued as consideration for executing the Omnibus Agreement in connection with the October 2024 Offering
	(ii)	Reflects the conversion price after the March 2025 Down Round Trigger that was triggered with the Sale of Series F on March 17, 2025.

AGEAGLE AERIAL SYSTEMS INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024

(UNAUDITED)

Note 7 – Stockholders’ Equity (Deficit) – Continued

A summary of the Series F activity for the three months ended March 31, 2024, is as follows:

Date of Purchase			Shares Purchased				Gross Proceeds				Net Proceeds				Original Conversion Price				Shares Outstanding December 31, 2023				Series F Converted				Shares Outstanding March 31, 2024				Conversion Price at March 31, 2024				Shares Issuable at March 31, 2024
June 26, 2022				10,000			$	10,000,000			$	9,920,000			$	620.00				2,925				(2,925	)			—			$	30.00				—
March 10, 2023				3,000				3,000,000				3,000,000				420.00				3,000				(205	)			2,795				30.00				93,167
November 15, 2023				1,850				1,850,000				1,850,000				124.70				150				—				150				30.00				5,000
March 6, 2024				1,000				1,000,000				950,000				60.29				—				—				1,000				30.00				33,333
Total March 31, 2024				15,850			$	15,850,000			$	15,720,000			$	—				6,075				(3,130	)			3,945			$	—				131,500

Schedule of Deemed Dividends From various Down Round Triggers

Below is a summary of the deemed dividends resulting from the March 2025 and 2024 Down Round Triggers:

 Schedule of Deemed Dividends From various Down Round Triggers

Deemed Dividends on Series F Preferred Stock
Date of Trigger Event		Description of Trigger Event		Series F Triggered				Conversion Prices Prior to Trigger				Conversion Price After Trigger				Incremental Value Deemed Dividend
March 17, 2025		March 2025 Down Round Trigger			5,025			$	2.22 - 5.25			$	1.20			$	976,637
Deemed Dividends on Series F Warrants
March 17, 2025		March 2025 Down Round Trigger			593,247			$	2.22 - 5.25			$	1.20			$	79,695
Total Deemed Dividends																$	1,056,332

Series F and Series F Warrants issued prior to December 2024 have conversion and exercise prices equal to $1.10 and were not impacted by the March 2025 Down Round Trigger.

Deemed Dividends on Series F Preferred Stock
Date of Trigger Event		Description of Trigger Event		Series F Triggered				Conversion Prices Prior to Trigger				Conversion Price After Trigger				Incremental Value Deemed Dividend
March 6, 2024		March 2024 Down Round Trigger			3,945			$	60.29 - 124.50			$	30.00			$	5,102,674
Deemed Dividends on Series F Warrants
March 6, 2024		March 2024 Down Round Trigger			54,695			$	60.29 - 124.50			$	30.00			$	147,030
Total Deemed Dividends																$	5,249,704

Summary of Restricted Stock Units Activity

For the three months ended March 31, 2025, a summary of RSU activity is as follows:

 Summary of Restricted Stock Units Activity

		Shares				Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2024			7,293			$	324.64
Granted			72,194				2.10
Cancelled			(1,072	)			264.60
Vested and released			—				—
Outstanding as of March 31, 2025			78,415				28.57
Vested as of March 31, 2025			8,015				255.33
Unvested as of March 31, 2025			70,400			$	2.75

For the three months ended March 31, 2024, a summary of RSU activity is as follows:

		Shares				Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2023			3,054			$	901.50
Granted			—				—
Cancelled			(9	)			467.00
Vested and released			—				—
Outstanding as of March 31, 2024			3,045				903.00
Vested as of March 31, 2024			2,869				928.00
Unvested as of March 31, 2024			176			$	494.50

 

Summary of Options Activity

For the three months ended March 31, 2025 a summary of the options activity is as follows:

 Summary of Options Activity

		Shares				Weighted Average Exercise Price				Weighted Average Fair Value				Weighted Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value
Outstanding as of December 31, 2024			56			$	5,342			$	2,874				1.23			$	—
Granted			—				—				—				—				—
Exercised			—				—				—				—				—
Expired/Forfeited			(5	)			410				247				—				—
Outstanding as of March 31, 2025			51			$	5,825			$	3,131				0.95			$	—
Exercisable as of March 31, 2025			51			$	5,825			$	3,131				0.95			$	—

For the three months ended March 31, 2024, a summary of the options activity is as follows:

		Shares				Weighted Average Exercise Price				Weighted Average Fair Value				Weighted Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value
Outstanding as of December 31, 2023			2,505			$	2,000			$	1,080				1.49			$	2,294
Granted			—				—				—				—				—
Exercised			—				—				—				—				—
Expired/Forfeited			(1,203	)			2,055				1,126				—				—
Outstanding as of March 31, 2024			1,302			$	2,010			$	1,082				2.36			$	—
Exercisable as of March 31, 2024			1,177			$	2,184			$	1,178				2.19			$	—

 

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