SCHEDULE 13G/A 0000930413-25-000592 0001481867 XXXXXXXX LIVE 4 Common Stock, $0.0001 par value 03/31/2025 0001086745 AYRO, Inc. 054748207 900 E. Old Settlers Boulevard, Suite 100 Round Rock TX 78664 Rule 13d-1(c) Iroquois Capital Management, LLC DE 0.00 938014.00 0.00 938014.00 938014.00 N 9.95 OO Includes 934,362 shares of Common Stock issuable upon conversion of Preferred Stock (See Item 4). As more fully described in Item 4, the Preferred Stock is subject to a 9.99% blocker, and the percentage set forth in row (11) gives effect to such blocker. The shares reported in rows (6), (8) and (9) show the number of shares of Common Stock issuable upon conversion of such reported securities, giving effect to the 9.99% blocker. Richard Abbe X1 942983.00 938014.00 942983.00 938014.00 946635.00 N 9.99 HC IN Includes 934,362 shares of Common Stock issuable upon conversion of Preferred Stock (See Item 4). As more fully described in Item 4, the Preferred Stock is subject to a 9.99% blocker, and the percentage set forth in row (11) gives effect to such blocker. The shares reported in rows (6), (8) and (9) show the number of shares of Common Stock issuable upon conversion of such reported securities, giving effect to the 9.99% blocker. Kimberly Page X1 0.00 946635.00 0.00 946635.00 946635.00 N 9.95 IN Includes 934,362 shares of Common Stock issuable upon conversion of Preferred Stock (See Item 4). As more fully described in Item 4, the Preferred Stock is subject to a 9.99% blocker), and the percentage set forth in row (11) gives effect to such blocker. The shares reported in rows (6), (8) and (9) show the number of shares of Common Stock issuable upon conversion of such reported securities, giving effect to the 9.99% blocker. AYRO, Inc. 900 E. Old Settlers Boulevard, Suite 100, Round Rock, Texas 78664 This statement is being filed by (i) Iroquois Capital Management LLC, a Delaware limited liability company ("Iroquois"), (ii) Richard Abbe, and (iii) Kimberly Page ("Mr. Abbe" and "Ms. Page," together with Iroquois, the "Reporting Persons"). Mr. Abbe shares authority and responsibility for the investments made on behalf of Iroquois Master Fund Ltd. ("Iroquois Master Fund") with Ms. Kimberly Page, each of whom is a director of the Iroquois Master Fund. As such, Mr. Abbe and Ms. Page may each be deemed to be the beneficial owner of all shares of Common Stock held by Iroquois Master Fund. Iroquois Capital is the investment advisor for Iroquois Master Fund and Mr. Abbe is the President of Iroquois Capital. Mr. Abbe has the sole authority and responsibility for the investments made on behalf of Iroquois Capital Investment Group LLC ("ICIG"). As such, Mr. Abbe may be deemed to be the beneficial owner of all shares of Common Stock held by Iroquois Master Fund and ICIG. The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of shares of Common Stock owned by another Reporting Person. The principal business address for each of the Reporting Persons is 2 Overhill Road, Scarsdale, NY 10583. Iroquois Capital Management LLC is a Delaware limited liability company. Richard Abbe is an individual who is a citizen of the United States of America. Kimberly Page is an individual who is a citizen of the United States of America. Y See Item 9 on the cover pages hereto. As of the date of the event which requires filing of this statement, Iroquois Master Fund held 17,559 shares of Common Stock and 2,500 shares of Preferred Stock convertible into shares of Common Stock (subject to the blocker). ICIG held 43,038 shares of Common Stock and 4,500 shares of Preferred Stock convertible into shares of Common Stock (subject to the 9.99% blocker). Accordingly, the amount of shares reported in Items 6, 8 and 9 include 934,362 of shares of Common Stock issuable upon conversion of such reported securities, giving effect to the 9.99% blocker. See Item 11 on the cover pages hereto. The percentage set forth in Row 11 of the cover page for each Reporting Person is based on 8,541,466 shares of common stock outstanding as of March 28, 2025, as reported in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2025 and assumes the conversion of the Company's Preferred Stock, subject to the 9.99% blocker. The percentage set forth in Item 11 of the cover page for each Reporting Person gives effect to the blocker, if applicable. See Item 5 on the cover pages hereto. See Item 6 on the cover pages hereto. See Item 7 on the cover pages hereto. See Item 8 on the cover pages hereto. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Iroquois Capital Management, LLC /s/ Richard Abbe 05/14/2025 Richard Abbe /s/ Richard Abbe 05/14/2025 Kimberly Page /s/ Kimberly Page 05/14/2025