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 |
Employee stock Option (Right to buy)
|
07/16/2007 |
01/24/2012 |
Common Stock
|
300,000
(1)
|
$
0.034
|
D
|
Â
|
Employee stock Option (Right to buy)
|
07/16/2007 |
01/24/2012 |
Common Stock
|
2,350,000
(2)
|
$
0.01
|
D
|
Â
|
Employee stock Option (Right to buy)
|
07/16/2007 |
12/18/2013 |
Common Stock
|
500,000
|
$
0.09
|
D
|
Â
|
Employee stock Option (Right to buy)
|
07/16/2007 |
08/05/2014 |
Common Stock
|
300,000
|
$
0.07
|
D
|
Â
|
Employee stock Option (Right to buy)
|
Â
(3)
|
05/14/2016 |
Common Stock
|
325,000
|
$
0.4
|
D
|
Â
|
* |
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) |
This option was granted to Peter Friedman. However, pursuant to Mr. Friedman's divorce settlement, Mr. Friedman is deemed to hold 52,500 of the option shares for the benefit of his former spouse and may exercise such 52,500 shares solely upon the direction of his former spouse. Mr. Friedman disclaims beneficial ownership of 52,500 shares subject to this option. |
(2) |
This option was granted to Peter Friedman. However, pursuant to Mr. Friedman's divorce settlement, Mr. Friedman is deemed to hold 411,250 of the option shares for the benefit of his former spouse and may exercise such 411,250 shares solely upon the direction of his former spouse. Mr. Friedman disclaims beneficial ownership of 411,250 shares subject to this option. |
(3) |
The option vests and becomes exercisable as to 1/4th of the shares on May 14, 2007 and as to 1/36th of the remaining shares on each one-month anniversary thereafter. |