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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 | ||||||||
Common Stock Warrant | $ 1.18 | 10/11/2006 | A | 441,501 (1) | 04/12/2007 | 10/11/2011 | Common Stock | 441,501 (2) | $ 0.125 | 635,430 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
FORBES CHRISTOPHER 303 GEORGE STREET NEW BRUNSWICK, NJ 08901 |
X | X |
Christopher Forbes | 10/13/2006 | |
**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) | Mr. Forbes participated in a private placement of the Company's securities, which closed on October 11, 2006. Pursuant to the terms of the private placement, the securities were sold to each purchaser in units, at a purchase price of $1.1325 per unit. Each unit consists of one share of common stock and one warrant to purchase shares of common stock in an amount equal to 50% of the shares of common stock sold to each purchaser. |
(2) | Includes the following warrants: 89,053 issued on 12/3/2001 at an exercise price of $2.00; 89,053 issued on 12/3/2001 at an exercise price of $3.25; 15,823issued on 2/02/2004 at an exercise price of $3.79; and 441,501 issued on 10/11/2006 at an exercise price of $1.18. |