Emmaus Life Sciences, Inc. Quarterly report pursuant to Section 13 or 15(d)

[1]	Pursuant to the Second Amended Note and Warrant Purchase Agreement between December 23, 2015, and June 30, 2016 the Company issued ten Notes (including the December 2015 Notes) to the eight purchasers thereof for an aggregate principal amount of $2,100,000, and issued ten corresponding Note Warrants to purchase an aggregate of 42,000,000 shares of the Company's Common Stock. The Note Warrants were issued to purchasers of Notes in an amount equal to 100% of the shares underlying their December 2015 Notes. Each Note Warrant is exercisable, in whole or in part, during the period beginning on the date of its issuance, and ending on the earlier of (i) December 31, 2020 and (ii) the date that is forty-five (45) days following the date on which the daily closing price of shares of the Company's Common Stock quoted on the OTCQB Venture Marketplace (or other bulletin board or exchange on which the Company's Common Stock is traded or listed) exceeds $0.25 for at least ten (10) consecutive trading days. In connection therewith, the Company will promptly notify the Note Warrant holders in the event that the daily closing price of the Company's shares of Common Stock so exceeds $0.25 for at least ten (10) consecutive trading days. 2 million Note Warrants were issued to one accredited investor and 25.2 million Note Warrants were issued to Directors; for further detail refer to Note 6. Related Party Transactions.
[2]	On June 10, 2016 we issued two warrants, pursuant to a Finder's Fee Agreement with Maxim Group LLC, to purchase in aggregate 800,000 shares of Common Stock following the introduction of an accredited investor who entered into a Second Amended Note and Warrant Purchase Agreement in the principal amount of $200,000. The terms of these warrants is identical to the Note Warrants mentioned in (1) above. Pursuant to the Finder's Fee Agreement, Maxim was also paid $20,000 for their efforts. The terms of
[3]	On December 23, 2015, in consideration for the agreement to extend the maturity date of the Notes, the Company issued to holders of all Notes outstanding prior to the date of the Second Amended Note & Warrant Agreement, Extension Warrants to purchase an aggregate of 60,000,000 shares of Common Stock. Each such holder was issued an Extension Warrant to purchase Common Stock in an amount equal to 100% of the shares underlying each such holder's previously outstanding Notes. Extension Warrants to purchase 11,000,000 shares of Common Stock were issued to 10 accredited investors and Extension Warrants to purchase 49,000,000 shares of Common Stock were issued to Directors and Affiliates; for further detail refer to Note 6. Related Party Transactions.