UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF 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 |
|
| ||||||||||||||||||||||||||||||
|
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
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. |
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 |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Silar Special Opportunities Fund, LP SILAR SPECIAL OPPORTUNITIES FUND GP, LLC 333 SEVENTH AVENUE, 3RD FLOOR NEW YORK, NY 10001 |
 |  |  | See Remarks |
SILAR SPECIAL OPPORTUNITIES FUND, LP, By SILAR SPECIAL OPPORTUNITIES FUND GP, LLC, its General Partner, By: /s/ Robert L. Leeds, Its Managing Member | 12/12/2007 | |
**Signature of Reporting Person | Date |
* | 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) | On November 21, 2007, Silar Advisors, L.P., a Delaware Partnership ("Silar"), as Lender and Administrative, Payment and Collateral Agent, entered into a Master Loan and Security Agreement (the "Loan Agreement") with iDNA, Inc. a Delaware Corporation, ("IDNA") through its wholly owned subsidiary, iDNA Cinemas Holdings Inc. ("IDNAC Holdings"), a Delaware Corporation. Pursuant to the Loan Agreement, Silar provided a Term Loan in the amount of $4,250,000 (the "Loan") to IDNA Holdings. The Loan was guaranteed by IDNA and evidenced by a Guaranty and Pledge Agreement, dated as of November 19, 2007 with Silar. In connection therewith IDNA issued to Silar a Common Stock Purchase Warrant to purchase 1,500,000 shares of it's Common Stock par value $0.05 per share, at an exercise price of $0.27 per share which constitutes 15.06% of the total issued and outstanding shares of IDNA. |
(2) | Silar received the Common Stock Purchase Warrant on behalf of its on-shore fund, Silar Special Opportunities Fund, LP. Of the 1,500,000 shares of Common Stock, Silar will transfer 25% or 375,000 shares to Gottbetter Capital Group, Inc. ("Gottbetter Capital") By this transfer Silar would then own 1,125,000 shares or 11.30% of the issued and outstanding Common Stock of IDNA and Gottbetter Capital would own, 375,000 shares or 3.76% of the issued and outstanding Common Stock of IDNA. |
 Remarks: Owner of 15.06% or 1,500,000 shares of Common Stock par value $0.05 of Issuer through a Common Stock Purchase Warrant. Upon  transfer of 25% of 1,500,000 shares to Gottbetter Capital Group, Inc., Silar Special Opportunities Fund, LP will then own  only 11.30% of the of the Common Stock par value $0.05 of the Issuer. |