NCT GROUP, INC. 4

4 · NCT GROUP, INC. · Filed Apr 9, 2007

Form 4

Period: 2007-04-04

10% Owner

Transactions

Purchase
8% Convertible Note
2007-04-04+60,000,000→ 60,000,000 total
Exercise: $0.01From: 2007-04-04→ Common Stock (60,000,000 underlying)
Purchase
Warrant - right to acquire common stock
2007-04-04+5,200,000→ 5,200,000 total
Exercise: $0.01From: 2007-04-04Exp: 2012-04-04→ Common Stock (5,200,000 underlying)

Footnotes (6)

[F1]Note is in the principal amount of $600,000 and is due to Carole Salkind on 10/04/07.
[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 $275,000 in cash.
[F5]The exercise 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 exercise notice is delivered to NCT.
[F6]Warrant was issued to Carole Salkind in connection with the issuance of the note outlined in footnote (1) above.

Documents

1 file