NCT GROUP INC 4
4 · NCT GROUP INC · Filed Jun 28, 2006
Insider Transaction Report
Form 4
NCT GROUP INCNCTI
SALKIND CAROLE
10% Owner
Transactions
- Purchase
8% Convertible Note
2006-06-23+55,000,000→ 55,000,000 totalExercise: $0.01From: 2006-06-23→ Common Stock (55,000,000 underlying) - Purchase
8% Convertible Note
2006-06-23+515,000,000→ 515,000,000 totalExercise: $0.01From: 2006-06-23→ Common Stock (515,000,000 underlying)
Footnotes (7)
- [F1]Note is due to Carole Salkind upon demand, but in no event later than 12/23/06, and is in the principal amount of $550,000.
- [F2]Note along with accrued interest is convertible into shares of common stock at any time between note issuance and date of note discharge.
- [F3]The conversion price is the greater of: (a) the lowest last sale price of NCT's common stock during the five-day period comprised of the date of the note, date preceding and three dates following; or (b) the par value of NCT's common stock on the date the conversion notice is delivered to NCT.
- [F4]Consideration paid for the note consisted of $300,000 in cash.
- [F5]Note is due to Carole Salkind on 12/23/06 and is in the principal amount of $5,150,000.
- [F6]The conversion price is the greater of: (a) $0.0018; or (b) the par value of NCT's common stock on the date the conversion notice is delivered to NCT.
- [F7]Consideration paid for the note consisted of the cancellation and surrender of two notes dated 12/22/05 in the aggregate principal amount of $2,452,979.13 (including interest and other charges arising from such notes) and original issue discount of approximately 83% of this aggregate amount.