TRNF Taronis Fuels Inc (CE)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES                                                                                   
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940                       

1. Name and Address of Reporting Person * MAHONEY SCOTT	2. Issuer Name and Ticker or Trading Symbol Taronis Fuels, Inc. [ TRNF ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director                    _____ 10% Owner __X__ Officer (give title below)    _____ Other (specify below) Chief Executive Officer
(Last)          (First)          (Middle) 24980 N. 83RD AVE, STE. 100	3. Date of Earliest Transaction (MM/DD/YYYY) 1/21/2021
(Street) PEORIA, AZ 85383 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock, par value $0.000001 per share	1/21/2021		A(1)		49020 (1)	A	$4.59	295121 (2)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:
(1)	Represents shares of common stock issued to Mr. Mahoney in lieu of $225,000 in cash bonus compensation earned by Mr. Mahoney for the fiscal year ending December 31, 2020. The shares of common stock vest one year from the date of issuance. The shares were issued at a per share price of $4.59, representing the Issuer's closing stock price on January 20, 2021 as reported on the OTCQB.
(2)	Mr. Mahoney's beneficial ownership is comprised of 50 common stock options; 13 shares of free trading common stock; 27,100 shares of common stock that vests in equal weekly installments through the end of December 31, 2021; 49,020 shares of common stock subject to vesting as described in (1) above; 178,938 shares of restricted common stock; and 40,000 restricted stock units. Mr. Mahoney beneficially owns 295,121 shares in total.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MAHONEY SCOTT 24980 N. 83RD AVE, STE. 100 PEORIA, AZ 85383	X		Chief Executive Officer

Signatures
/s/ Scott Mahoney		1/25/2021
**Signature of Reporting Person		Date