GLOBAL INTELLICOM INC 3
3 · GLOBAL INTELLICOM INC · Filed Mar 25, 1999
Insider Transaction Report
Form 3
No transactions or holdings reported in this filing.
Footnotes (1)
- [1]Reporting Person owns 25 shares of Series 10 Convertible Preferred Stock, having a liquidation preference of $1,000 per share. The number of shares of Common Stock is determined by dividing the liquidation preference of the shares being converted (plus any accrued by unpaid dividends) by a conversion price, which is 75% of the average closing bid price of the Common Stock for the five trading days immediately preceding the date of conversion. As of March 17, 1999, for example, the conversion rate was $0.3101 (75% of $0.4135), and the 25 shares of Convertible Preferred Stock would have converted into 80,613 shares of Common Stock. The exact conversion price and the number shares of Common Stock into which the Convertible Preferred Stock can be converted, however, can not be specified until the conversion date. /s/ Daniel Pickett 3/25/99 --------------------------------------- -------------------------- Daniel Pickett, Secretary of Southridge Capital Management, LLC, GP of Sovereign Partners, LP **