Marpai, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
Mar. 31, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 12 – RELATED PARTY TRANSACTIONS The Company receives consulting services and marketing services from various shareholders and directors. The total cost of these consulting services for the three months ended March 31, 2022 and 2021 was approximately $70,000 and $246,000, respectively. The total cost of marketing services for the three months ended March 31, 2022 and 2021 was approximately $565,000 and $321,000, respectively. The accounts payable to these certain shareholders as of March 31, 2022 and December 31, 2021 was approximately $123,000 and $297,000, respectively, and are included in accounts payable on the accompanying condensed consolidated balance sheets. On December 30, 2020, the Company received an advance from a certain investor for reimbursement of certain expenses. This is recorded as due to related party on the accompanying condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021 in the amount of $3,637 and $3,637, respectively. The Company was reimbursed for the three months ended March 2022 and 2021 in the amount of $0 and $94,801 respectively.

RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2022

NOTE 12 – RELATED PARTY TRANSACTIONS

The Company receives consulting services and marketing services from various shareholders and directors. The total cost of these consulting services for the three months ended March 31, 2022 and 2021 was approximately $70,000 and $246,000, respectively. The total cost of marketing services for the three months ended March 31, 2022 and 2021 was approximately $565,000 and $321,000, respectively. The accounts payable to these certain shareholders as of March 31, 2022 and December 31, 2021 was approximately $123,000 and $297,000, respectively, and are included in accounts payable on the accompanying condensed consolidated balance sheets.

On December 30, 2020, the Company received an advance from a certain investor for reimbursement of certain expenses. This is recorded as due to related party on the accompanying condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021 in the amount of $3,637 and $3,637, respectively. The Company was reimbursed for the three months ended March 2022 and 2021 in the amount of $0 and $94,801 respectively.