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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 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 | ||||||||
Warrant to Purchase Common Stock | $ 1 | (1) | 06/20/2023 | Common Stock | 1,110,000 | 1,110,000 | D | ||||||||
Stock Option (Right to Buy) | $ 0.42 (2) | 12/04/2014(2) | A(2) | 125,000 | (3) | 11/21/2024(2) | Common Stock | 125,000 | $ 0 | 125,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
LYKOS COSMAS N 650 TOWN CENTER DRIVE SUITE 620 COSTA MESA, CA 92626 |
X | X | Chairman |
/s/ Cosmas N. Lykos | 12/05/2014 | |
**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) | The warrant is immediately exercisable. |
(2) | The Board of Directors of the Company approved the grant of Stock Options on November 21, 2014, at an exercise price of fair market value. The Company engaged an independent third party to establish the fair market value on the date of grant. On December 4, 2014, the Board of Directors of the Company accepted the valution report and set the exercise price at $0.42 per share. |
(3) | Reporting Person's right to receive Stock Options vest over a five year period, with the first 20% of the total Stock Options vesting on the one year anniversary of the grant date the remainder of the shares will vest in equal installments on a annual basis thereafter, such that the Stock Options are fully vested on November 21, 2019. |