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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 | ||||||||
Option to Buy | $ 0.017 | 04/07/2011 | J(2) | 18,772 | 04/07/2011 | 04/07/2021 | Common Stock | 18,772 | $ 0.017 | 18,772 | D | ||||
Option to Buy | $ 0.017 | 04/07/2011 | A | 100,000 | (3) | 04/07/2021 | Common Stock | 100,000 | $ 0.017 | 118,772 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
O LEARY GEORGE G 6506 CONTEMPO LANE BOCA RATON, FL US 33433 |
X | Chief Operating Officer |
/s/ George G. O'Leary | 07/08/2011 | |
**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) | Shares were issued to SKS Consulting of South Florida Corp., pursuant to the terms of a consulting agreement between the issuer and SKS Consulting of South Florida Corp. Reporting Person is President of SKS Consulting of South Florida Corp. |
(2) | The Option to Buy was granted to Mr. O'Leary on 04/07/2011 in replacement of five prior option agreements. The first four prior Option Agreements were granted on 07/20/2007, 10/03/2007, 01/21/2008 and 04/17/2008 and were issued in exchange for his services under a consulting agreement. The fifth was dated 04/29/2009 in exchnage for a temporary reduction in his compensation as a Director of the Company. |
(3) | The Option to Buy vests and becomes exercisable on a pro-rata monthly basis over an 18 month period beginning on 05/07/2011, such that the Option to Buy is fully vested on 08/07/2012 . The Option to Buy vests so long as the Repoting Person remains in a relationship with the Company, as further defined in the Stock Option Agreement. |