Summary of ADAMIS PHARMACEUTICALS CORP

Item 8.01 Other Events

As the Company has previously reported in reports on Form 8-K and other periodic reports that we have filed with the Securities and Exchange Commission, on June 11, 2012, we completed the closing of a private placement financing transaction with The G-Max Trust ("G-Max") pursuant to which we issued a Convertible Promissory Note (the "Note") to G-Max and 500,000 shares of common stock for aggregate gross proceeds of approximately $500,000. Principal and accrued and unpaid interest under the Note was due and payable on April 1, 2013. The Note was convertible into shares of the Company's common stock at any time at the discretion of G-Max at a conversion price per share of $0.55.

During January 2013, G-Max elected to convert all of the remaining unconverted principal of the Note and related interest into shares of common stock, and the Note is no longer outstanding. This conversion is in addition to the previously reported conversion by Gemini Master Fund, Ltd. of all of the remaining portion of its $1.0 million senior convertible note, originally issued on April 2, 2012, into shares of common stock before the January 2, 2013 maturity date of that note.