Seelos Therapeutics Inc (SEEL)

[otterman]

Explanation of Responses:
( 1) The shares of common stock were issued to the Reporting Person, a non-employee director of the Issuer, as payment of the quarterly retainer fee for his service as a director of the Issuer.
( 2) The value of the shares being delivered in satisfaction of the payment was calculated based on the five-day average closing price of the Issuer's common stock over the first five trading days of the 2010 calendar year (as adjusted for a 1-for-15 reverse split of the Issuer's common stock that became effective on June 21, 2010).
( 3) The shares of common stock were issued to the Reporting Person as payment for his service as Chairman of the Compensation Committee of the Issuer

They are not buying, these are free shares.