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) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Series B Preferred Stock
(1)
|
Â
(2)
|
Â
(2)
|
Common Stock
(3)
|
6,000,000
(3)
|
$
(3)
|
D
|
Â
|
Common Stock Warrants (Right to Buy)
|
07/12/2013(4)(5)
|
04/08/2018 |
Common Stock
|
3,000,000
|
$
0.08
|
D
|
Â
|
Common Stock Warrants (Right to Buy) (Common Stock)
|
10/22/2010 |
10/22/2013 |
Common Stock
|
266,667
|
$
0.95
|
I
|
Held in Reporting Person's personal holding company
|
* |
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) |
The Series B Convertible Preferred Stock ("Series B Shares")are convertible in accordance with the Issuer's Certificate of Designation, which is included as exhibit 3.1 in the Issuer's Form 8-K filed on April 9, 2013. |
(2) |
The Series B Shares are convertible at any time after the issuance of such shares at the holder's election and do not have an expiration date. |
(3) |
The Series B Shares are convertible on a 20-for-1 basis into the number of shares of Common Stock as shown in column 3. |
(4) |
The Common Stock Warrants are subject to vesting such that the Warrants vest upon the Reporting Person's purchase of an additional 300,000 Series B Shares on or before July 12, 2013. |
(5) |
The Common Stock Warrants contain a limitation on exercise which prevents the Reporting Person from exercising any Warrants if, after giving effect to the exercise, the Reporting Person would beneficially own more than 4.99% of the outstanding shares of Common Stock. The Reporting Person may elect to increase this limitation to 9.99%, upon not less than 61 days prior written notice to the Company. |