AURA SYSTEMS INC 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Our shares are quoted on the Pink Sheets operated by OTC Markets, Inc. under the symbol “AUSI”. Set forth below are high and low bid prices for our common stock for each quarterly period in the two most recent Fiscal years. Such quotations reflect inter-dealer prices, without retail mark-up, markdown or commissions and may not necessarily represent actual transactions in the common stock. We had approximately 3,400 stockholders of record as of May 13, 2022. Period High Low Fiscal 2022 First Quarter ended May 31, 2021 $ 0.52 $ 0.24 Second Quarter ended August 31, 2021 $ 0.58 $ 0.23 Third Quarter ended November 30, 2021 $ 0.73 $ 0.38 Fourth Quarter ended February 28, 2022 $ 0.80 $ 0.22 Fiscal 2021 First Quarter ended May 31, 2020 $ 0.24 $ 0.08 Second Quarter ended August 31, 2020 $ 0.12 $ 0.09 Third Quarter ended November 30, 2020 $ 0.12 $ 0.06 Fourth Quarter ended February 28, 2021 $ 0.51 $ 0.12 On June 13, 2022, the reported closing sales price for our common stock was $0.299. Dividend Policy We have not paid any dividends on our common stock and we do not anticipate paying any dividends on our common stock in the foreseeable future. Sales of Unregistered Securities During the year ended February 28, 2022, we issued approximately 12,016,000 shares of common stock, for a total of $3,276,330 inclusive of approximately 1,571,000 and 245,000 shares of common stock in settlement of $550,000 of debt and $73,500 for services, respectively. During the year ended February 28, 2021, we issued 14,513,963 shares of common stock for a total of $2,249,909, inclusive of 415,636 shares of common stock in settlement of $103,909 of debt. Funds raised were for general corporate working capital purposes. All such securities were issued and sold in reliance on the exemption from registration contained in Section 4(2) of the Securities Act of 1933, and the certificates representing such securities contain a restrictive legend reflecting the limitations on future transfer of those securities. The offer and sale of these securities was made without public solicitation or advertising. The investors represented to us that they were knowledgeable and sophisticated and were experienced in business and financial matters so as to be capable of evaluating an investment in our securities and were an “accredited investor” within the meaning of Regulation D promulgated under the Securities Act of 1933. Each of these investors was afforded full access to information regarding our business. Repurchases of Equity Securities We did not repurchase any shares of our common stock during the fiscal years ended February 28, 2022 and February 28, 2021. 25 ITEM 6. [Reserved] As a smaller reporting company, we are not required to provide disclosure under this Item 6.