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: Gelbfish Gary A. (Director)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
8% Convertible Notes	$		Common Stock, $0.001 par value per share (165366)		Direct
8% Convertible Notes	$		Common Stock, $0.001 par value per share (70871)		Indirect
8% Noteholder Warrants	$3.4375	2016-10-29	Common Stock, $0.001 par value per share (67200)		Direct
8% Noteholder Warrants	$3.4375	2016-10-29	Common Stock, $0.001 par value per share (28800)		Indirect

Footnotes

F1: The outstanding principal amount of the 8% Convertible Notes, and all accrued interest thereon, will automatically convert into shares of common stock at a
conversion price of $2.1875 per share upon the consummation of the Company's initial public offering.

F2: Includes 8% Convertible Notes held by Dr. Gelbfish and his wife, jointly, that are convertible into 94,495 shares of common stock, and 8% Convertible Notes held by
Dr. Gelbfish as custodian for certain of his children that are convertible into 70,871 shares of common stock.

F3: Dr. Gelbfish and his wife are trustees of Landmark Charity Foundation.

F4: These warrants will become exercisable upon the consummation of the Company's initial public offering.

F5: Includes 8% Noteholder Warrants held by Dr. Gelbfish and his wife, jointly, that are exercisable for 38,400 shares of common stock, and 8% Noteholder Warrants
held by Dr. Gelbfish as custodian for certain of his children that are exercisable for 28,800 shares of common stock.