What changed in this filing

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Item 1. Financial Statements

2021-11-12 compared with 2021-08-11 · 311 added, 191 removed, 150 unchanged (77% of the section changed)

1 – Financial Statements

JAFFE LABORATORIES, INC.

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

BALANCE SHEETS

and cash equivalents

expenses and other current assets

September 30,

Current Assets:

and equipment, net

lease right-of-use assets, net

deposits and other assets

and Stockholders’ Equity

expenses and other current liabilities

revenue - related party

portion of operating lease liabilities

Cash and cash equivalents

Prepaid expenses and other current assets

Total Current Assets

Property and equipment, net

Operating lease right-of-use assets, net

Security deposits and other assets

Liabilities and Stockholders’ Equity

Current Liabilities:

operating lease liabilities

and Contingencies

Stockholders’

stock, par value $ 0.00001 , 10,000,000 shares authorized:

Accounts payable

Accrued expenses and other current liabilities

Deferred revenue - related party

Current portion of operating lease liabilities

Total Current Liabilities

Long-term operating lease liabilities

Total Liabilities

Commitments and Contingencies

Stockholders’ Equity:

Preferred stock, par value $ 0.00001 , 10,000,000 shares authorized:

no shares issued or outstanding

stock, par value $ 0.00001 , 250,000,000 shares authorized, 8,513,662 and 2,541,529 shares issued and outstanding as of June 30, 2021

and December 31, 2020, respectively

paid-in capital

Common stock, par value $ 0.00001 ,

250,000,000 shares authorized, 9,468,324

and 2,541,529 shares issued

and outstanding as of September 30, 2021 and December 31, 2020, respectively

Additional paid-in capital

Accumulated deficit

( 72,863,501 )

( 65,323,411 )

Stockholders’ Equity

Liabilities and Stockholders’ Equity

Total Stockholders’ Equity

Total Liabilities and Stockholders’ Equity

Notes to these Unaudited Condensed Financial Statements

JAFFE LABORATORIES, INC.

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

STATEMENTS OF OPERATIONS

the Three Months Ended

the Six Months Ended

general and administrative expenses

and development expenses

from Operations

For the Three Months Ended

For the Nine Months Ended

September 30,

Operating Expenses:

Selling, general and administrative expenses

Research and development expenses

Loss from Operations

( 2,706,531 )

2 unchanged sentences

( 4,976,715 )

(Income) Expense:

(income) expense, net

in fair value of derivative liabilities

Other (Income) Expense:

Gain on extinguishment of note payable

Interest (income) expense, net

Change in fair value of derivative liabilities

Other expense

Total Other (Income) Expense

( 2,389,309 )

2 unchanged sentences

$ ( 4,761,483 )

Loss Per Basic and Diluted Common Share:

Average Number of Common Shares Outstanding:

Deemed dividend to Series C Preferred Stockholders

Net Loss Attributable to Common Stockholders

$ ( 2,389,309 )

$ ( 1,998,628 )

$ ( 7,540,090 )

$ ( 4,785,342 )

Net Loss Per Basic and Diluted Common Share:

Weighted Average Number of Common Shares Outstanding:

Basic and Diluted

Notes to these Unaudited Condensed Financial Statements

JAFFE LABORATORIES, INC.

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIENCY)

Stockholders’

at January 1, 2021

Balance at January 1, 2021

$ ( 65,323,411 )

stock issued in public offering

stock issued for exercise of warrants

issued to in satisfaction of trade payable

issued to in satisfaction of trade payable, shares

stock issued in private placement offering

stock issued in private placement offering, shares

granted to consultants

Value of Warrants Issued

Common stock issued in at the market transactions

Common stock issued in at the market transactions, shares

Common stock issued in registered direct offering

Common stock issued in registered direct offering, shares

Common stock issued in public offering

Preferred stock issued in private placement

Preferred stock issued in private placement, shares

Warrant Exercised

Warrant Exercised, shares

Common stock issued for exercise of warrants

Common stock issued in private placement offering

Common stock issued in private placement offering, shares

Reclassification of Warrant Derivatives to Equity

Shared-Based Compensation

Warrants granted to consultants

Shares issued in satisfaction of trade payable

Shares issued in satisfaction of trade payable, shares

Fair Value of Warrants Issued

( 2,772,886 )

at March 31, 2021

Balance at March 31, 2021

$ 111,107,784

$ ( 68,096,297 )

at March 31, 2021

Shared-Based Compensation

Shares issued in satisfaction of trade payable

( 2,377,895 )

issued in satisfaction of trade payable

Balance at June 30, 2021

( 70,474,192 )

Common stock issued in at the market transactions

Common stock issued in registered direct offering

Shared-Based Compensation

( 2,389,309 )

at June 30, 2021

( 2,389,309 )

at January 1, 2020

Balance at September 30, 2021

( 72,863,501 )

stock issued in private placement offering

compensation:

granted to consultants

Series C Convertible

Preferred Stock

Balance at January 1, 2020

$ ( 56,187,925 )

Common stock issued in private placement offering

Share-based compensation:

Warrants granted to consultants

( 1,159,758 )

at March 31, 2020

( 1,159,758 )

at March 31, 2020

Balance at March 31, 2020

$ ( 57,347,683 )

stock issued in public offering

Common stock issued in public offering

Share-Based Compensation

( 1,626,956 )

at June 30, 2020

Balance at June 30, 2020

$ ( 58,974,639 )

Common stock issued in public offering

Preferred stock issued in private placement

Warrant Exercised

Reclassification of Warrant Derivatives to Equity

Share-Based Compensation

( 1,974,769 )

Balance at September 30, 2020

$ ( 60,949,408 )

Notes to these Unaudited Condensed Financial Statements

JAFFE LABORATORIES, INC.

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

STATEMENTS OF CASH FLOWS

the Six Months Ended

Flows from Operating Activities

$ ( 5,150,781 )

For the Nine Months Ended

September 30,

Cash Flows from Operating Activities

$ ( 7,540,090 )

to reconcile net loss to net cash used in operating activities:

and amortization

of right-of-use assets

in fair value of derivatives

in operating assets and liabilities:

expenses and other current assets

deposit and other assets

$ ( 4,761,483 )

on lease liabilities

Adjustments to reconcile net loss to net cash used in operating activities:

Stock-based compensation

Depreciation and amortization

Amortization of right-of-use assets

Gain on extinguishment of note payable

Change in fair value of derivatives

Changes in operating assets and liabilities:

Prepaid expenses and other current assets

Security deposit and other assets

Accounts payable

Accrued expenses and other current liabilities

Payments on lease liabilities

Total adjustments

( 1,206,371 )

Cash Used in Operating Activities

Net Cash Used in Operating Activities

( 8,746,461 )

( 5,063,516 )

Flows from Investing Activities

of property and equipment

Cash Used in Investing Activities

Flows from Financing Activities

from private placements of common stock and warrants, net

from registered direct offerings of common stock with warrants, net

from public offering, net

from issuance of note payable

from Warrant Exercises

Cash Provided by Financing Activities

Increase in Cash, Cash Equivalent, and Restricted Cash

cash equivalents and restricted cash - Beginning of period

cash equivalents and restricted cash - End of period

Cash Flows from Investing Activities

Purchase of property and equipment

Net Cash Used in Investing Activities

Cash Flows from Financing Activities

Proceeds from private placements of common stock and warrants, net

Preferred stock issued in private placement

Proceeds from shares issued under ATM, net

Proceeds from registered direct offering, net

Proceeds from public offering, net

Proceeds from issuance of note payable

Proceeds from Warrant Exercises

Net Cash Provided by Financing Activities

Net Increase in Cash, Cash Equivalent, and Restricted Cash

Cash, cash equivalents and restricted cash - Beginning of period

Cash, cash equivalents and restricted cash - End of period

Notes to these Unaudited Condensed Financial Statements

JAFFE LABORATORIES, INC.

TO CONDENSED FINANCIAL STATEMENTS

the Six Months Ended

Disclosures of Cash Flow Information:

Paid (Received) During the Years For:

Financing Activities:

value of warrants issued in connection with common stock included in derivative liabilities

value of placement agent warrants issued in connection with common stock included in derivative liabilities

value of common stock issued in satisfaction of trade payable

value of warrants issued

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

STATEMENTS OF CASH FLOWS (Continued)

For the Nine Months Ended

September 30,

Supplemental Disclosures of Cash Flow Information:

Cash Paid (Received) During the Years For:

Interest, net

Non-Cash Financing Activities:

Fair value of warrants issued in connection with common stock included in derivative liabilities

Fair value of placement agent warrants issued in connection with common stock included in derivative liabilities

Fair value of common stock issued in satisfaction of trade payable

Fair value of warrants issued

Reclassification of warrant derivatives to equity

$ ( 334,229 )

Notes to these Unaudited Condensed Financial Statements

JAFFE LABORATORIES, INC.

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

TO CONDENSED FINANCIAL STATEMENTS

1 – Business Organization and Nature of Operations

Jaffe Laboratories, Inc.

is a medical device company developing tissue-based solutions that are designed to be life sustaining or life

enhancing for patients with cardiovascular disease, and peripheral arterial and venous disease.

The Company’s products are being

developed to address large unmet medical needs by either offering treatments where none currently exist or by substantially increasing

the current standards of care.

Our products which we are developing include:

the VenoValve®, a porcine based device to be surgically

implanted in the deep venous system of the leg to treat a debilitating condition called chronic venous deficiency (“CVI”);

and the CoreoGraft®, a bovine based conduit to be used to revascularize the heart during coronary artery bypass graft (“CABG”)

Both of these products are currently being developed for approval by the U.S.

Medical Corporation is a med-tech company focused on improving the standard of care in the treatment of venous disease.

are developing tissue-based solutions that are designed to be life sustaining or life enhancing for patients with deep venous

Chronic Venous Insufficiency (CVI).

CVI occurs when valves inside of the veins of the leg fail, resulting in insufficient blood

being returned to the heart.

Our products are being developed to address large unmet medical needs by either offering

treatments where none currently exist or by substantially increasing the current standards of care.

Our lead product is a

porcine based device to be surgically implanted in the deep venous system of the leg, and is called the VenoValve®.

VenoValve is currently being evaluated in the SAVVE U.S.

pivotal trial for the purpose of obtaining approval to market and sell the

device from the U.S.

Food and Drug Administration (“FDA”).

Our current senior management team has been affiliated with more than 50 products that have received FDA approval or CE marking.

lease a 14,507 sq.

manufacturing facility in Irvine, California, where we manufacture products for our clinical trials and which

has previously been FDA certified for commercial manufacturing of product.

of our products will be required to successfully complete significant clinical trials to demonstrate the safety and efficacy of the product

before it will be able to be approved by the FDA.

JAFFE LABORATORIES, INC.

Our team of officers and directors has been

affiliated with numerous medical devices that have received FDA approval or CE marking and have been commercially

We currently lease a 14,507 sq.

manufacturing facility in Irvine, California, where we manufacture medical devices for our clinical trials, and which has capacity

for commercial manufacturing.

September 21, 2021, we announced that we were changing our name from Hancock Jaffe to enVVeno Medical Corporation and that our

development strategy is to focus on the treatment of venous disease.

In addition to the VenoValve, we announced that we have begun

development of a second device for the treatment of venous disease which we are calling enVVe.

In connection with this change in strategy, we

indicated that we are deferring further development of the CoreoGraft, which is now outside of our primary focus

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

TO CONDENSED FINANCIAL STATEMENTS

4 unchanged sentences

need to raise additional capital to sustain operations, pursue product development initiatives, and penetrate markets for the sale of

products, Management believes that our capital resources at June 30, 2021, are sufficient to meet our obligations as they become

products, Management believes that our capital resources at September 30, 2021, are sufficient to meet our obligations as they become

due within one year after the date of this interim filing, and sustain operations.

JAFFE LABORATORIES, INC.

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

TO CONDENSED FINANCIAL STATEMENTS

7 unchanged sentences

of normal recurring items) which are considered necessary for a fair presentation of the unaudited condensed financial statements of

the Company as of June 30, 2021 and December 31, 2020, and for the three and six months ended June 30, 2021 and 2020.

The results of

operations for the three and six months ended June 30, 2021 are not necessarily indicative of the operating results for the full year.

These unaudited condensed financial statements should be read in conjunction with the financial statements and notes thereto for the

year ended December 31, 2020 included in the Company’s Form 10-K filed with the SEC on March 31, 2021.

The condensed balance sheet

as of December 31, 2020 has been derived from the Company’s audited financial statements.

JAFFE LABORATORIES, INC.

TO CONDENSED FINANCIAL STATEMENTS

the Company as of September 30, 2021 and December 31, 2020, and for the three and nine months ended September 30, 2021 and 2020.

results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the operating results

for the full year.

These unaudited condensed financial statements should be read in conjunction with the financial statements and notes

thereto for the year ended December 31, 2020 included in the Company’s Form 10-K filed with the SEC on March 31, 2021.

The condensed

balance sheet as of December 31, 2020 has been derived from the Company’s audited financial statements.

Concentrations

1 unchanged sentence

Cash held in United States bank institutions is currently insured by the Federal

Deposit Insurance Corporation (“FDIC”) up to $ 250,000

at each institution.

There was an aggregate

uninsured cash balance of $ 40,789,182 as of June 30,

Deposit Insurance Corporation (“FDIC”) up to $ 250,000 at each institution.

There was an aggregate uninsured cash balance

of $ 57,646,922 as of September 30, 2021.

Loss per Share

Company computes basic and diluted loss per share by dividing net loss attributable to common stockholders by the weighted average number

of common stock outstanding during the period.

Basic and diluted net loss per common share are the same since the inclusion of common

stock issuable pursuant to the exercise of warrants and options, would have been anti-dilutive.

of common stock outstanding during the period, including warrants exercisable for little or no cash consideration.

Basic and diluted

net loss per common share are the same since the inclusion of common stock issuable pursuant to the exercise of warrants and options,

would have been anti-dilutive.

Company evaluated events that have occurred after the balance sheet date through the date the financial statements were issued.

9 unchanged sentences

There was not a significant impact to the financial statements from the adoption of this standard.

JAFFE LABORATORIES, INC.

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

TO CONDENSED FINANCIAL STATEMENTS

4 – Property and Equipment

of June 30, 2021 and December 31, 2020, property and equipment consist of the following:

As of September 30, 2021 and December 31, 2020, property and equipment consist of the following:

Schedule of Property and Equipment

software and equipment

September 30,

Laboratory equipment

Furniture and fixtures

Computer software and equipment

Leasehold improvements

Construction Work in Progress – Software

Property and equipment, gross

accumulated depreciation

and equipment, net

expense amounted to $ 59,058 and $ 44,961 for the six months ended June 30, 2021 and 2020, respectively.

Depreciation expense is reflected

in general and administrative expenses in the accompanying statements of operations.

Property and equipment, net

expense amounted to $ 44,076 and $ 66,857 for the nine months ended September 30, 2021 and 2020, respectively.

Depreciation expense is

reflected in general and administrative expenses in the accompanying statements of operations.

5 – Right-of-Use Assets and Lease Liability

September 20, 2017, the Company renewed its operating lease for its manufacturing facility in Irvine, California, effective October 1,

2017, for five years with an option to extend the lease for an additional five years at the end of the initial lease term.

lease rate was $ 26,838 per month with escalating payments.

In connection with the lease, the Company is obligated to pay $ 7,254 monthly

for operating expenses for building repairs and maintenance.

The Company has no other operating or financing leases with terms greater

than 12 months.

Company accounts for this lease following the guidance in ASC Topic 842, Leases, and elected to adopt the short-term lease exception

2017, for five years with an option to extend the lease for an additional 60 -month term at the end of lease term.

The initial lease rate

was $ 26,838 per month with escalating payments.

In connection with the lease, the Company is obligated to pay $ 7,254 monthly for operating

expenses for building repairs and maintenance.

The Company has no other operating or financing leases with terms greater than 12 months .

Company adopted Accounting Standards Codification (“ASC”) Topic 842, Leases (Topic 842) effective January 1, 2019 using the

modified-retrospective method and elected the package of transition practical expedients for expired or existing contracts, which does

not require reassessment of previous conclusions related to contracts containing leases, lease classification and initial direct costs,

and therefore the comparative periods presented are not adjusted.

In addition, the Company elected to adopt the short-term lease exception

and not apply Topic 842 to arrangements with lease terms of 12 months or less.

The Company determined the lease liabilities using the

Company’s estimated incremental borrowing rate of 8.5 % to estimate the present value of the monthly lease payments.

JAFFE LABORATORIES, INC.

On January 1, 2019, upon adoption of Topic 842, the Company

recorded right-of-use assets of $ 1,099,400 , lease liabilities of $ 1,121,873 and eliminated deferred rent of $ 22,473 .

The Company determined

the lease liabilities using the Company’s estimated incremental borrowing rate of 8.5 % to estimate the present value of the remaining

monthly lease payments.

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

TO CONDENSED FINANCIAL STATEMENTS

1 unchanged sentence

Schedule of Operating Lease Cost

the Three Months Ended

For the Three Months Ended

September 30,

Operating lease cost

cash flow information related to our operating lease is as follows:

Schedule of Supplemental Cash Flow Information Related to Operating Lease

the Three Months Ended

Cash Flow Information:

paid for amounts in the measurement of lease liabilities

For the Three Months Ended

September 30,

Operating Cash Flow Information:

Cash paid for amounts in the measurement of lease liabilities

Schedule of Operating Remaining Lease Term and Discount Rate

lease term and discount rate for our operating lease is as follows:

Schedule of Maturity of Lease Liabilities

Remaining lease term and discount rate for our operating lease is as follows:

September 30,

Remaining lease term

Discount rate

of our lease liabilities by fiscal year for our operating lease is as follows:

June 30, 2021

months ended December 31, 2021

ended December 31, 2022

Schedule of Maturity of Lease Liabilities

September 30,2021

Three months ended December 31, 2020

Year ended December 31, 2021

Imputed Interest

value of our lease liability

JAFFE LABORATORIES, INC.

Present value of our lease liability

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

TO CONDENSED FINANCIAL STATEMENTS

6 – Accrued Expenses and Other Current Liabilities

of June 30, 2021, and December 31, 2020, accrued expenses consist of the following:

Schedule of Accrued Expenses and Other Current Liabilities

compensation costs

professional fees

franchise taxes

research and development

of September 30, 2021, and December 31, 2020, accrued expenses and other current liabilities consist of the following:

Schedule of Accrued Expenses

September 30,

Accrued compensation costs

Accrued professional fees

Accrued franchise taxes

Accrued research and development

Other accrued expenses

Accrued expenses

7 – Note Payable

note payable consists of the following at June 30, 2021 and December 31, 2020:

Schedule of Note Payable

maturity date

interest rate

April 12, 2020, the Company obtained a loan (the “Loan”) in the amount of $ 312,700 , pursuant to the Paycheck Protection Program

(the “PPP”) under Division A, Title I of the CARES Act, which was enacted March 27, 2020.

Loan, which was in the form of a Note dated April 12, 2020, was to mature on April 12, 2022 , and bore interest at a rate of 1 % per annum,

payable monthly commencing on November 12, 2020.

On September 8, 2021, the Company was notified the Loan and any accrued interest had

been forgiven.

In connection with this, the Company recorded a gain on extinguishment of debt of $ 312,700 .

8 – Commitments and Contingencies

16 unchanged sentences

30-2020-01157857 and was filed on August

The complaints assert several causes of action including a cause of action for failure to timely pay Mr.

Rankin’s accrued

and unused vacation and three months’ severance under his July 16, 2018 employment agreement, defamation, unlawful labor code violations,

complaints assert several causes of action including a cause of action for failure to timely pay Mr.

Rankin’s accrued and unused

vacation and three months’ severance under his July 16, 2018 employment agreement, defamation, unlawful labor code violations,

sex-based discrimination, and unfair competition, and seeks damages for lost wages, emotional and mental distress, consequential damages,

4 unchanged sentences

Accordingly, no amounts related

to these complaints are accrued as of June 30, 2021.

JAFFE LABORATORIES, INC.

to these complaints are accrued as of September 30, 2021.

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

12 unchanged sentences

April 26, 2021, the Company issued 5,772 shares with a value of $ 6.51 per share, or $ 37,576 , in satisfaction of a trade payable.

November 2020 the Company’s Board of Directors approved the issuance of warrants to purchase 6,400 shares of common stock to an

advisor and warrants to purchase 20,000 shares of common stock to certain participants in the preferred share exchange.

Separately the

Company agreed to re-price warrants issued to the placement agent for the Company’s February 25, 2020 private placement.

warrants and the re-priced warrant were issued in February 2021.

The value of these warrants when they were issued $ 211,976 .

determined their value using the Black-Scholes method with the following assumptions:

stock price of $ 8.91 - $ 9.31 , risk-free interest

rate of 0.47 % , volatility of 113% , annual rate of quarterly dividends of 0% , and an expected term of 2.5 to 3.5 years.

August 12, 2021, the Company entered into an At-the-Market Offering Agreement to create an at-the-market equity program under which it

may sell up to $ 25,000,000 of shares of the Company’s common stock from time to time.

During the quarter ending September 30, 2021,

the Company sold 170,963 shares for aggregate net proceeds of approximately $ 971,000 .

September 9, 2021, the Company entered a securities purchase agreement pursuant to which it completed a registered direct offering

in which it sold 781,615 shares

of common stock and Pre-Funded Warrants to purchase 1,759,035 shares

of common stock, for aggregate net proceeds of approximately $ 18,300,000 .

determined that equity classification of the warrants was appropriate.

Accordingly, their value is included in additional paid-in

connection with this transaction, the Company also issued to the placement agent as compensation a warrant to purchase up to 152,439

shares of common stock with substantially the same terms as the warrants issued in the registered direct offering.

The warrants are exercisable

immediately upon issuance, have an initial exercise price of $ 9.84 per share, subject to customary adjustments, and expire in April 2025.

November 2020 the Company’s Board of Directors approved the issuance of warrants to purchase 6,400

shares of common stock to an advisor and warrants

to purchase 20,000

shares of common stock to certain participants

in the preferred share exchange.

Separately the Company agreed to re-price warrants issued to the placement agent for the Company’s

February 25, 2020 private placement.

These warrants and the re-priced warrant were issued in February 2021.

The value of these warrants

when they were issued was $ 211,976 .

The Company determined their value using the Black-Scholes method with the following assumptions:

stock price of $ 8.91

risk-free interest rate of 0.47 %,

volatility of 113 %,

annual rate of quarterly dividends of 0 %,

and an expected term of 2.5

time to time, the Company issues options for the purchase of its common stock to employees and others.

1 unchanged sentence

to stock options is included in selling, general and administrative expenses on the accompanying statement of operations, and was $ 0.6

million of during the six months ended June 30, 2021 and 2020, respectively.

of June 30, 2021, there was $ 1.5 million of unrecognized stock-based compensation expense related to outstanding stock options that will

be recognized over the weighted average remaining vesting period of 2.2 years.

Note 10 – Net Loss per Share

The following table summarizes

the number of potentially dilutive common stock equivalents excluded from the calculation of diluted net loss per common share as of

June 30, 2021 and 2020:

Schedule of Diluted Net Loss Per Common Share

million of during the nine months ended September

30, 2021 and 2020, respectively.

of September 30, 2021, there was $ 1.6 million of unrecognized stock-based compensation expense related to outstanding stock options that

will be recognized over the weighted average remaining vesting period of 1.7 years.

MEDICAL CORPORATION

HANCOCK JAFFE LABORATORIES, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

10 – Net Loss per Share

following table summarizes the number of potentially dilutive common stock equivalents excluded from the calculation of diluted net loss

per common share as of September 30, 2021 and 2020:

of Potentially Dilutive Common Stock Equivalents Excluded from Diluted Net Loss Per Share

September 30,

Shares of common stock issuable upon exercise of warrants

Shares of common stock issuable upon exercise of options

Potentially dilutive common stock equivalents excluded from

diluted net loss per share

JAFFE LABORATORIES, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

Potentially dilutive common stock equivalents excluded from diluted net loss per share

11 – Related Party Transactions

3 unchanged sentences

pivotal trial.

Expenditures to that vendor were approximately $ 0.4 million during the six months ending June 30, 2021, and are included

in in Research and Development expenses in the accompanying statement of operations.

Expenditures to that vendor were approximately $ 0.6 million during the nine months ending September 30, 2021, and

are included in in Research and Development expenses in the accompanying statement of operations.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements