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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 | ||||||||
Warrant | $ 0.75 | 09/25/2017 | D(1) | 320,000 | 08/29/2014 | 08/29/2019 | Common Stock | 320,000 | (1) | 0 | D | ||||
Warrant | $ 0.6 | 09/25/2017 | A(1) | 320,000 | 08/29/2014 | 09/25/2017 | Common Stock | 320,000 | (1) | 320,000 | D | ||||
Warrant | $ 0.6 | 09/25/2017 | M(2) | 320,000 | 08/29/2014 | 09/25/2017 | Common Stock | 320,000 | (2) | 0 | D | ||||
Warrant | $ 0.45 | 09/25/2017 | D(3) | 166,666 | 11/23/2015 | 11/23/2020 | Common Stock | 166,666 | (3) | 0 | I | By Wife | |||
Warrant | $ 0.4 | 09/25/2017 | A(3) | 166,666 | 11/23/2015 | 09/25/2017 | Common Stock | 166,666 | (3) | 166,666 | I | By Wife | |||
Warrant | $ 0.4 | 09/25/2017 | M(4) | 166,666 | 11/23/2015 | 09/25/2017 | Common Stock | 166,666 | (4) | 0 | I | By Wife |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Lee Tom Y 1807 SAN GABRIEL BLVD. SAN GABRIEL, CA 91776 |
X |
/s/ Tom Lee | 09/27/2017 | |
**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) | On September 25, 2017, the Issuer completed the initial closing of a tender offer in which the Issuer offered to amend the terms of the outstanding warrants the Issuer issued to investors participating in private placement financings the Issuer completed on August 29, 2014 (the "2014 Warrants"), on November 23, 2015 (the "2015 Warrants") and on January 23, 2017 (the "2017 Warrants"). As part of the tender offer and in order to raise funds to support its continued operations, the Issuer offered to reduce the respective exercise prices of the 2014, 2015 and 2017 Warrants if the holders agreed to exercise their Warrants in cash by September 25, 2017. The Reporting Person holds a 2014 Warrant and elected to participate in the Issuer's tender offer. As a result, the exercise price and the expiration date, among other terms, of the 2014 Warrant held by the Reporting Person were amended. |
(2) | In accordance with the terms of the Issuer's tender offer, the Reporting Person exercised his 2014 Warrant in full and in cash on September 25, 2017. |
(3) | On September 25, 2017, the Issuer completed the initial closing of a tender offer in which the Issuer offered to amend the terms of the outstanding warrants the Issuer issued to investors participating in private placement financings the Issuer completed on August 29, 2014 (the "2014 Warrants"), on November 23, 2015 (the "2015 Warrants") and on January 23, 2017 (the "2017 Warrants"). As part of the tender offer and in order to raise funds to support its continued operations, the Issuer offered to reduce the respective exercise prices of the 2014, 2015 and 2017 Warrants if the holders agreed to exercise their Warrants in cash by September 25, 2017. The Reporting Person holds a 2015 Warrant and elected to participate in the Issuer's tender offer. As a result, the exercise price and the expiration date, among other terms, of the 2015 Warrant held by the Reporting Person were amended. |
(4) | In accordance with the terms of the Issuer's tender offer, the Reporting Person exercised her 2015 Warrant in full and in cash on September 25, 2017. |