Item 3.02 Unregistered Sales of Equity Securities

On December 17, 2019, Qrons Inc. (the "Company") granted a five-year immediately exercisable option to purchase 325,000 shares of its common stock at an exercise price of $2.00 per share, to each of Jonah Meer, its Chief Executive Officer, and Ido Merfeld, its President, for services provided to the Company.

On December 17, 2019, the Company granted three-year options to purchase an aggregate of 100,000 shares of the Company's common stock at an exercise price of $2.00 per share, to Liat Hammer, the Company's Director of Research for services provided to the Company. 33,334 of such shares subject to the option are immediately exercisable and expire on December 17, 2022, 33,333 shares vest on December 17, 2020 and expire on December 17, 2023 and 33,333 shares vest on December 17, 2021 and expire on December 17, 2024.

The above issuances did not involve any underwriters, underwriting discounts or commissions, or any public offering and we believe is exempt from the registration requirements of the Securities Act of 1933, as amended, by virtue of Section 4(2) thereof.

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