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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 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. | |||
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. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction 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 (Month/Day/Year) |
7. Title and Amount of Underlying Securities (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) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Common Stock Warrants (right to buy) (3) | $ 0.4 | 09/30/2009 | D | 250,000 | 05/19/2009 | 05/19/2014 | Common Stock | 250,000 | (4) | 0 | D | ||||
Common Stock Warrants (right to buy) (5) | $ 0.3 | 09/30/2009 | A | 333,334 | 09/30/2009 | 05/19/2014 | Common Stock | 333,334 | (4) | 333,334 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Brauser Daniel 595 S. FEDERAL HIGHWAY, SUITE 600 BOCA RATON, FL 33432 |
X | Chief Financial Officer | See Remarks |
/s/ Daniel Brauser | 10/02/2009 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(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) | These securities represent additional securities issued to the Reporting Person due to anti-dilution protection he received as part of his prior investment in a private placement with the Issuer. |
(2) | These shares only reflect the shares in which the Reporting Person has a pecuniary interest. |
(3) | These securities were acquired as part of an investment by the Reporting Person with the Issuer in a private placement. The Reporting Person purchased one unit for $50,000, consisting of 250,000 shares of common stock and 250,000 warrants to purchase common stock of the Issuer. |
(4) | The Reporting Person agreed to the cancellation of warrants issued to him on May 19, 2009, in exchange for new warrants having a lower exercise price. |
(5) | These securities represent the total amount of new warrants issued to the reporting person, which include the cancelled warrant for 250,000 shares and 83,334 additional warrants issued due to anti-dilution protection he received as part of his prior investment in a private placement with the Issuer. |
Remarks: The Reporting Person is a member of a 13(d) group owning more than 10%. |