4//SEC Filing
GHERMEZIAN SYD 4
Accession 0000914121-10-000586
CIK 0001329605other
Filed
Mar 8, 7:00 PM ET
Accepted
Mar 9, 5:18 PM ET
Size
11.6 KB
Accession
0000914121-10-000586
Insider Transaction Report
Form 4
Transactions
- Other
Common Stock, par value $0.0001 per share.
2010-03-05+933,130→ 12,715,263 total(indirect: See footnotes) - Purchase
Common Stock, par value $0.0001 per share.
2010-03-05+933,130→ 12,715,263 total
GHERMEZIAN SYD
10% Owner
Transactions
- Other
Common Stock, par value $0.0001 per share.
2010-03-05+933,130→ 12,715,263 total(indirect: See footnotes) - Purchase
Common Stock, par value $0.0001 per share.
2010-03-05+933,130→ 12,715,263 total
Footnotes (5)
- [F1]This is a joint filing by Pacific International Group Holdings LLC ("Pacific") and Syd Ghermezian (collectively, the "Reporting Persons"). (continued in footnote 2)
- [F2](continued from footnote 1) On March 5, 2010, Pacific agreed to acquire 933,130 shares of Common Stock from Barry Kostiner in exchange for a cash payment in the amount of $115,000 and a mutual release of all claims arising from previous agreements between Mr. Kostiner, on the one hand, and Pacific and certain of its affiliates, on the other hand, pursuant to a Mutual Release and Settlement Agreement. (continued in footnote 3)
- [F3](continued from footnote 2) The released claims against Mr. Kostiner included claims related to disputed indebtedness of Mr. Kostiner under a promissory note in the amount of $1.5 million. However, the Reporting Persons believe that the value of such indebtedness was significantly less than the principal amount thereof as it was highly unlikely that any of the principal amount could have been collected. (continued in footnote 4)
- [F4](continued from footnote 3) The ultimate economic interest in Pacific is held by certain members of the Ghermezian family through their direct or indirect ownership of various entities that own Pacific. Syd Ghermezian is the Manager of Pacific. As such, Mr. Ghermezian may be deemed to be the indirect beneficial owner with shared voting and dispositive power of the shares of Common Stock that Pacific may be deemed to directly beneficially own. Therefore, Mr. Ghermezian may be deemed to be the indirect beneficial owner with shared voting and dispositive power of the 933,130 shares of Common Stock that Pacific has agreed to acquire. (continued in footnote 5)
- [F5](continued from footnote 4) Pacific and Mr. Ghermezian may be regarded as a group. However, Pacific and Mr. Ghermezian disclaim beneficial ownership of the securities owned directly or indirectly by each other, except for their respective pecuniary interests therein. Pacific and Mr. Ghermezian also disclaim membership in any group. This filing shall not constitute an acknowledgement that either Pacific or Mr. Ghermezian is part of any group.
Documents
Issuer
PLATINUM ENERGY RESOURCES INC
CIK 0001329605
Entity typeother
Related Parties
1- filerCIK 0001429082
Filing Metadata
- Form type
- 4
- Filed
- Mar 8, 7:00 PM ET
- Accepted
- Mar 9, 5:18 PM ET
- Size
- 11.6 KB