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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1704760	American Virtual Cloud Technologies Inc.	AVCT	Blank Checks (6770)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1713058	J. Darrell Mays	American Virtual Cloud Technologies Inc. 1720 Peachtree Street, Suite 629 Atlanta GA 30309	Chief Executive Officer	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2020-04-22	125,000	$0.00	125,000	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Warrant	Acquisiton	2020-04-22	62,500	$0.00	62,500	$0.01
Common Stock	Series A convertible debentures	Acquisiton	2020-04-22	0	$0.00	181,159	$3.45

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
62,500	2020-04-07	2025-04-07	No	4	P	Direct
0	2020-04-07		No	4	P	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	5,818,500	Indirect	See footnote

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Warrant	$0.01	2020-04-07	2025-04-07	883,057	883,057	Indirect
Common Stock	Series A convertible debentures	$3.45	2020-04-07		2,559,586	0	Indirect
Common Stock	Warrant	$0.01	2020-04-07	2025-04-07	25,000	25,000	Indirect
Common Stock	Series A convertible debentures	$3.45	2020-04-07		72,464	0	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2025-04-07	883,057	883,057	Indirect
	2,559,586	0	Indirect
2025-04-07	25,000	25,000	Indirect
	72,464	0	Indirect

Footnotes

The reported securities were purchased by the Reporting Person for a total purchase price of $1,000,000.
The securities are held directly by Pensare Sponsor Group, LLC (the "Sponsor") and indirectly by Darrell J. Mays, who is the managing member of the Sponsor. Mr. Mays disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
The expiration date is the date that the principal amount of the Series A convertible debenture (together with all accrued but unpaid interest thereon) is paid in full, subject to mandatory conversion in whole pursuant to the terms thereof. The entire principal sum amount of the Series A convertible debenture, together with accrued and unpaid interest thereon, is due and payable on the earlier to occur of (i) such date, commencing on or after October 7, 2022, as the holder, at its sole option, upon not less than 30 days' prior written notice to the Issuer, demands payment thereof and (ii) the occurrence of a Change in Control (as defined therein).