CorMedix Inc. — Director's Dealing 2010

Mar 29, 2010

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: CorMedix Inc. (CRMD)
CIK: 0001410098
Period of Report: 2010-03-24

Reporting Person: Houser Mark T. (Chief Medical Officer)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.001 par value per share	13528	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
12% Convertible Notes	$		Units consisting of common stock and warrant (14652)		Direct
Stock Option (right to buy)	$8.2300	2018-08-01	Common Stock, $0.001 par value per share (1915)		Direct

Footnotes

F1: The outstanding principal amount of the 12% Convertible Notes, and all accrued interest thereon, will automatically convert into units, each unit consisting of two
shares of common stock and a warrant to purchase one share of common stock, at a conversion price of $6.50 per unit, upon the consummation of the Company's
initial public offering.

F2: Each unit consists of two shares of common stock and a warrant to purchase one share of common stock at an exercise price of $3.4375 per share. Each warrant will
become exercisable upon the earlier to occur of the expiration of the underwriters' over allotment option or its exercise in full (in connection with the Company's initial
public offering), and will expire on March 24, 2015, or earlier upon redemption.

F3: These options vest as follows: 1/3 on March 4, 2009; an additional 1/3 on March 4, 2010; and the remaining 1/3 on March 4, 2011.