PAVmed Inc. Annual report pursuant to Section 13 and 15(d)

[1]	On August 22, 2018, the "UPO Exchange Offer" was completed, wherein, 53,000 "UPO-Z" were issued-upon-exchange of all the previously issued and outstanding 53,000 UPO-W. The UPO-Z may be exercised to purchase a unit comprised of one share of common stock of the Company and one Series Z Warrant; and the UPO-W was exercisable to purchase a unit comprised of one share of common stock of the Company and one Series W Warrant. See Note 14, Stockholders' Equity and Common Stock Purchase Warrants, for a discussion of the UPO-Z, UPO-W, and the August 22, 2018 UPO Exchange Offer.
[2]	There were 16,815,039 Series Z Warrants issued and outstanding as of September 30, 2018, including: 2,739,190 Series Z Warrants initially issued on the March 15, 2018 Exchange Date of the Series A and Series A-1 Exchange Offer discussed herein above; 5,075,849 Series Z Warrants issued on the April 5, 2018 Exchange Date of the "Series W Warrants Exchange Offer" discussed herein above; and 9,000,000 Series Z Warrants issued in the June 12, 2018 Equity Subscription Rights Offering. See Note 14, Stockholders Equity and Common Stock Purchase Warrants, for a further discussion of the Series Z Warrants and the Series W Warrants.
[3]	The Series S Warrants were issued in connection with the Note and Security Purchase Agreement with Scopia Holdings LLC. See Note 12, Debt for a discussion of such Note and Security Purchase Agreement and the corresponding Senior Secured Note, and Note 14, Stockholders' Equity and Common Stock Purchase Warrants, for a discussion of the Series S Warrants.
[4]	If converted at the election of the holder, the shares of Series B Convertible Preferred Stock issued and outstanding would result in a corresponding number of additional outstanding shares of common stock of the Company. See Note 13, Preferred Stock, for a further discussion of the Series B Convertible Preferred Stock common stock conversion election.
[5]	As of December 31, 2018, there were no shares of Series A-1 Convertible Preferred Stock nor Series A-1 Warrants issued and outstanding, as a result of the March 15, 2018 Series A and Series A-1 Exchange Offer. As of December 31, 2017, if converted at the election of the holder, the shares of Series A-1 Convertible Preferred Stock issued and outstanding would have resulted in the issue of a corresponding number of shares of common stock of the Company, resulting from a common stock conversion factor equal to a numerator and denominator of $4.00; and the Series A-1 Warrants issued and outstanding as of December 31, 2017, were eligible to be exchanged for five Series W Warrants or four Series X-1 Warrants under the terms of the Series A-1 Warrant agreement. No Series A-1 Warrant holder had made such election through the March 15, 2018 Exchange Date. See Note 11, Financial Instruments Fair Value Measurements, for a discussion of the March 15, 2018 Series A and Series A-1 Exchange Offer, Note 13, Preferred Stock, for a discussion of the Series A-1 Preferred Stock Units private placement, and the Series A-1 Convertible Preferred Stock, and Note 14, Common Stock and Common Stock Purchase Warrants, for a discussion of the Series A-1 Warrants.
[6]	As of December 31, 2018, there were no shares of Series A Convertible Preferred Stock nor Series A Warrants issued and outstanding, as a result of the March 15, 2018 Series A and Series A-1 Exchange Offer. The 249,667 shares of Series A Convertible Preferred Stock issued and outstanding as of December 31, 2017, if-converted, would have resulted in the issue of 301,416 shares of common stock of the Company, resulting from a common stock conversion factor equal to a numerator of $6.00 and a denominator $4.97; and the Series A Warrants issued and outstanding as of December 31, 2017, were eligible to be exchanged for four Series X Warrants under the terms of the Series A Warrant agreement. No Series A Warrant holder had made such election through the March 15, 2018 Exchange Date. See Note 11, Financial Instruments Fair Value Measurements, for a discussion of the March 15, 2018 Series A and Series A-1 Exchange Offer, Note 13, Preferred Stock, for a discussion of the Series A Preferred Stock Units private placement, and the Series A Convertible Preferred Stock, and Note 14, Common Stock and Common Stock Purchase Warrants, for a discussion of the Series A Warrants.