UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.    )*

Artelo Biosciences, Inc.

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

KYG4645B1014

(CUSIP Number)

October 14, 2020

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No.

KYG4645B1014

 

Item 1.

(a) Name of Issuer

Artelo Biosciences, Inc. (the “Issuer”)

(b) Address of Issuer’s Principal Executive Offices

888 Prospect Street, Suite 210
La Jolla, California 92037

Item 2.

(a) Name of Person Filing

(b) Address of Principal Business Office or, if none, Residence

(c) Citizenship

This Schedule 13G is being filed on behalf of (i) Mitchell P. Kopin, an individual who is a citizen of the United States of America (“Mr. Kopin”), (ii) Daniel B. Asher, an individual who is a citizen of the United States of America (“Mr. Asher”) and (iii) Intracoastal Capital LLC, a Delaware limited liability company (“Intracoastal” and together with Mr. Kopin and Mr. Asher, collectively the “Reporting Persons”).

The Reporting Persons have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 1, pursuant to which the Reporting Persons have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended.

The principal business office of Mr. Kopin and Intracoastal is 245 Palm Trail, Delray Beach, Florida 33483.

The principal business office of Mr. Asher is 111 W. Jackson Boulevard, Suite 2000, Chicago, Illinois 60604.

(d) Title of Class of Securities

Common stock, $0.001 par value per share, of the Issuer (the “Common Stock”).

(e) CUSIP Number

KYG4645B1014

Not applicable.

(a) and (b):

(i) Immediately following the consummation of the underwritten public offering by the Issuer on October 14, 2020 (the “Offering”) (as disclosed in the Form 424B4 prospectus filed by the Issuer with the Securities and Exchange Commission on October 14, 2020), each of the Reporting Persons may have been deemed to have beneficial ownership of 800,000 shares of Common Stock held by Intracoastal, and all such shares of Common Stock represented beneficial ownership of approximately 5.8% of the Common Stock, based on 13,791,587 shares of Common Stock outstanding following the consummation of the Offering as reported by the Issuer. The foregoing excludes 800,000 shares of Common Stock issuable upon exercise of a warrant held by Intracoastal (the “Intracoastal Warrant”) because the Intracoastal Warrant is not exercisable until the date that the Issuer effects, among other things, an increase in its authorized shares of Common Stock (and the Intracoastal Warrant also contains a blocker provision under which the holder thereof does not have the right to exercise the Intracoastal Warrant to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder’s affiliates, and any other persons acting as a group together with the holder or any of the holder’s affiliates, of more than 9.99% of the Common Stock). Without such blocker provision (and assuming that the Intracoastal Warrant was currently exercisable), each of the Reporting Persons may have been deemed to have beneficial ownership of 1,600,000 shares of Common Stock.

(ii) As of the close of business on October 23, 2020, each of the Reporting Persons may have been deemed to have beneficial ownership of no shares of Common Stock. The foregoing excludes 800,000 shares of Common Stock issuable upon exercise of the Intracoastal Warrant because the Intracoastal Warrant is not exercisable until the date that the Issuer effects, among other things, an increase in its authorized shares of Common Stock. Assuming that the Intracoastal Warrant was currently exercisable, each of the Reporting Persons may have been deemed to have beneficial ownership of 800,000 shares of Common Stock.

(c) Number of shares as to which each Reporting Person has:

(i) Sole power to vote or to direct the vote:             0            .

(ii) Shared power to vote or to direct the vote:            0            .

(iii) Sole power to dispose or to direct the disposition of            0            .

(iv) Shared power to dispose or to direct the disposition of            0            .

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following þ.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Item 10. Certification

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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: October 26, 2020

Exhibit 1

JOINT FILING AGREEMENT

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein and therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

Date: October 26, 2020

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