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 |
Stock Option (right to buy)
|
Â
(1)
|
01/10/2018 |
Common Stock
|
150,000
|
$
0.23
|
D
|
Â
|
Stock Option (right to buy)
|
Â
(2)
|
01/10/2018 |
Common Stock
|
450,000
|
$
0.23
|
D
|
Â
|
Stock Option (right to buy)
|
Â
(3)
|
01/10/2018 |
Common Stock
|
450,000
|
$
0.5
|
D
|
Â
|
Stock Option (right to buy)
|
Â
(4)
|
01/10/2018 |
Common Stock
|
450,000
|
$
0.75
|
D
|
Â
|
Stock Option (right to buy)
|
Â
(5)
|
01/10/2018 |
Common Stock
|
300,000
|
$
0.3
|
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) |
Option to purchase 150,000 shares vested and became exercisable on January 10, 2008 at an exercise price of $0.23 per share. |
(2) |
Option to purchase 450,000 shares will vest and become exercisable in equal monthly installments of 37,500 shares per month on the last day of each calendar month beginning January 31, 2008 through December 31, 2008 at an exercise price of $0.23 per share. |
(3) |
Option to purchase 450,000 shares will vest and become exercisable in equal monthly installments of 37,500 shares per month on the last day of each calendar month beginning January 31, 2009 through December 31, 2009 at an exercise price of $0.50 per share. |
(4) |
Option to purchase 450,000 shares will vest and become exercisable in equal monthly installments of 37,500 shares per month on the last day of each calendar month beginning January 31, 2010 through December 31, 2010 at an exercise price of $0.75 per share. |
(5) |
Option to purchase 300,000 shares will vest and become exercisable in an amount based upon the ratio of the 2005 private placement warrants that have been exercised as of April 18,2008 at $0.30 per share to the total of 2005 private placement warrants outstanding as of April 18, 2008 at an exercise price of $0.30 per share. |