Summary of ADAMIS PHARMACEUTICALS CORP

Item 1.01 Entry Into a Material Definitive Agreement.

At a meeting of the Compensation Committee of the Board of Directors, and the Board of Directors, of Adamis Pharmaceuticals Corporation (the "Company") held on September 12, 2011, the committee approved the award of stock options under the Company's 2009 Equity Incentive Plan (the "Plan") to officers of the Company, covering the following numbers of shares; Dennis J. Carlo, Ph.D., 600,000; Karen K. Daniels, 300,000; Robert O. Hopkins, 125,000; David J. Marguglio, 125,000; Thomas Moll, Ph.D., 300,000. The exercise price for each such option is $0.19 per share, which was the fair market value of the common stock on the date of grant. Each option vests and becomes exercisable as to one-third of the shares subject to the option as of the grant date, and vests and becomes exercisable as to the remaining two-thirds of the option shares monthly over a period of two years from the grant date. Each option is otherwise subject to the provisions of the Plan.

In addition, pursuant to the provisions of the Plan, effective September 13, 2011, each non-employee director of the Company, Kenneth M. Cohen, Craig A. Johnson, and Tina S. Nova, Ph.D., received a stock option under the Plan to purchase 35,000 shares of common stock. The exercise price for each such option is $0.18 per share, which was the fair market value of the common stock on the date of grant. Each option vests and becomes exercisable over a period of three years from the grant date, at a rate of 1/36 of the option shares each month. Each option is otherwise subject to the provisions of the Plan.

Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The Information set forth under Item 1.01 above with respect to the awards of options under the Plan is incorporated herein by reference.

Item 5.07 Submission of Matters to a Vote of Security Holders.

The Annual Meeting of Stockholders of the Company was held September 12, 2011, at the Company's headquarters at 11455 El Camino Real, Suite 310, San Diego, California 92130 at 8:30 a.m. local time. The following proposals were submitted to and approved by the stockholders at the meeting:

1. Election of the five nominees to the board of directors:

                         Votes For      Votes Withheld   Votes Abstaining   Broker Non-Votes
Dennis J. Carlo, Ph.D.   46,383,502        520,529            37,333           32,422,435
Kenneth M. Cohen         46,383,502        520,529            37,333           32,422,435
Craig A. Johnson         46,383,502        520,529            37,333           32,422,435
David J. Marguglio       46,383,502        520,529            37,333           32,422,435
Tina S. Nova, Ph.D.      46,383,502        520,529            37,333           32,422,435

2. Ratification of the selection of Mayer Hoffman McCann PC as independent registered public accounting firm for the year ending March 31, 2012:

Votes For Votes Withheld Votes Abstaining Broker Non-Votes 42,844,938 315,617 273,262 35,929,982