13G Filing: Iroquois Capital Management, LLC and Apricus Biosciences Inc. (APRI)

Provide the following information
regarding the aggregate number and percentage of the class of securities of the issuer identified
in Item 1.

The information as of the date of the event which requires filing
of this statement required by Items 4(a) – (c) is set forth in Rows 5 – 11 of the cover page for each Reporting Person
hereto and is incorporated herein by reference for each such Reporting Person. The percentage set forth in Row 11 of the cover
page for each Reporting Person is based on 12,771,782 shares of common stock outstanding as of May 4, 2017, as reported in the
quarterly report on Form 10-Q filed by the Issuer with the Securities and Exchange Commission on May 11, 2017, and does not include
the exercise of the reported warrants (the “Reported Warrants”), which are subject to the Blocker (as defined below).

Pursuant to the terms of the Reported Warrants, the Reporting
Persons cannot exercise the Reported Warrants to the extent the Reporting Persons would beneficially own, after any such exercise,
more than 4.99% of the outstanding shares of Common Stock (the “Blocker”), and the percentage set forth in Row 11 of
the cover page for each Reporting Person gives effect to the Blocker. Consequently, as of the date of the event which requires
filing of this statement, the Reporting Persons were not able to exercise any of the Reported Warrants due to the Blocker.

As of the date of the event which requires filing of this statement,
Iroquois Master Fund Ltd. (“Iroquois Master Fund”) held 415,441 shares of Common Stock and Reported Warrants to purchase
214,287 shares of Common Stock and Iroquois Capital Investment Group LLC (“ICIG”) held 242,761 shares of Common Stock
and Reported Warrants to purchase 107,142 shares of Common Stock. Mr. Abbe has the authority and responsibility for the investments
made on behalf of the Fund and ICIG. As such, Mr. Abbe may be deemed to be the beneficial owner of all shares of Common Stock held
by, and underlying the Reported Warrants (subject to the Blocker) held by, the Fund and ICIG. Iroquois is the investment manager
for Iroquois Master Fund.