NCT GROUP INC 4
4 · NCT GROUP INC · Filed Jul 12, 2006
Insider Transaction Report
Form 4
NCT GROUP INCNCTI
SALKIND CAROLE
10% Owner
Transactions
- Purchase
8% Convertible Note
2006-07-10+112,000,000→ 112,000,000 totalExercise: $0.01From: 2006-07-10→ Common Stock (112,000,000 underlying) - Purchase
8% Convertible Note
2006-07-10+65,028,576→ 65,028,576 totalExercise: $0.01From: 2006-07-10→ Common Stock (65,028,576 underlying)
Footnotes (6)
- [F1]Note is due to Carole Salkind upon demand, but in no event later than 01/10/07, and is in the principal amount of $1,120,000.
- [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 $510,000 in cash.
- [F5]Note is due to Carole Salkind on 01/10/07 and is in the principal amount of $650,285.76.
- [F6]Consideration paid for the note consisted of the quarterly interest installment due on the $5 million note dated 12/22/04 along with default interest thereon from 07/01/06 and an interest default amount (10% of the then outstanding principal).