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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 | ||||||||
Warrants | $ 1 (1) | 06/19/2017 | A | 666,666 | 05/31/2017 | 05/31/2022 | Common Stock | 666,666 | (2) | 666,666 | I | By Caracciolo Family Trust | |||
Warrants | $ 1.35 | 06/19/2017 | D | 333,333 | 05/31/2017 | 05/31/2022 | Common Stock | 333,333 | (2) | 333,333 | I | By Caracciolo Family Trust |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Caracciolo Anthony 1111 MAIN STREET, SUITE 660 VANCOUVER, WA 98660 |
X | Executive Chairman |
/s/ Michael D. Mulholland, as attorney-in-fact | 06/21/2017 | |
**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) | Subject to adjustment in the event of certain stock split or reverse stock split recapitalizations. |
(2) | As part of a private offering to accredited investors, on May 31, 2017, the reporting person purchased from the issuer for a combined price of $1.0 million (i) a $1.0 million convertible promissory note, bearing interest at 7.0% annually, which is convertible into shares of the issuer's common stock at an initial conversion price of $0.75 per share, and (ii) a warrant covering 25% of the number of shares underlying the convertible promissory note, with an exercise price of $1.35 per share. Effective June 19, 2017, the issuer amended the terms of the offering to increase the warrant coverage from 25% to 50% and to decrease the warrant exercise price from $1.35 to $1.00. As reflected in this Form 4, the issuer applied such amended terms retroactively to all warrants previously purchased in the offering. |