UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Options to Purchase Common Stock | 05/14/2014 | 03/24/2018 | Common Stock | 4,200 | $ 50 | D | |
Options to Purchase Common Stock | 12/27/2012 | 03/24/2018 | Common Stock | 12,000 | $ 73 | D | |
Options to Purchase Common Stock | 08/26/2013 | 03/24/2018 | Common Stock | 13,733 | $ 64 | D | |
Series A Preferred Stock, $0.001 par value per share | (1) | (1) | Common Stock | (1) | $ 0 | D | |
Series C Preferred Stock, $0.001 par value per share | (2) | (2) | Common Stock | (2) | $ (2) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Feintuch Ira 3284 N 29TH COURT HOLLYWOOD, FL 33020 |
Chief Operating Officer |
/s/ Ira Feintuch | 03/14/2018 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | On June 23, 2017, the Company and Mr. Feintuch entered into a letter agreement with the Company whereby they agreed that, upon the Company's implementation of the Reverse Stock Split, a total of 2,500,000 shares of Common Stock issuable upon conversion of the Series A Preferred Shares prior to the signing of the letter agreement to Mr. Feintuch will be reduced to 200,000 shares of Common Stock. The Reverse Stock Split was implemented on August 29, 2017. On December 7, 2017 Mr. Feintuch signed a letter agreement pursuant to which, upon the closing of this offering, his Series A Preferred Shares will automatically convert into 50,000 shares of Common Stock. |
(2) | The 1,842 shares of Series C Convertible Preferred Stock Mr. Feintuch currently owns are convertible into shares of Common Stock based on the following formula: the number of outstanding Series C Preferred Shares (i) multiplied by a factor of 115 (ii) divided by the public offering price of $4.25, (iii) multiplied by 80%. |