VIAVID BROADCASTING INC 4
4 · VIAVID BROADCASTING INC · Filed Sep 29, 2003
Insider Transaction Report
Form 4
GAMON ROBERT
Director10% Owner
Transactions
- Other
CONVERTIBLE DEBENTURE
2002-03-11$0.50/sh+100,000$50,000→ 100,000 total(indirect: SEE NOTE)Exercise: $0.50From: 2002-03-11Exp: 2004-12-31→ COMMON SHARES (100,000 underlying) - Purchase
COMMON SHARES
2003-09-25$0.05/sh+45,000$2,363→ 1,875,000 total(indirect: SEE NOTE)
Holdings
- 1,830,000(indirect: SEE NOTE)
COMMON SHARES
Footnotes (3)
- [F1]The principal & accrued interest on the Note is convertible at any time into shares of common stock at a conversion price equal to the lesser of $0.50 & 80% of the Fair Market Value ("FMV") of a share of common stock, subject to adj. in the event of stock splits or combinations. FMV is defined as the price per share of Common Stock equal to the average of the closing bid and asked prices of the Co.'s Common Stock as appearing on the OTC Bulletin Board (or such other principal trading system or securities exchange as the Co.'s shares may then be quoted or traded) for the twenty trading days immediately prior to a date of determination or, if no quotations for the Co.'s Common Stock appear during that period, the FMV as determined in good faith by the Co.'s BOD. Under Rule 16a-1(c)(6), an option with a floating exercise price is not considered a derivative security until the exercise price is fixed & accordingly the aquisition of this security has been voluntarily reported at this time.
- [F2]The shares are held by 549419 BC Ltd., a private company, which Mr. Gamon is the sole shareholder.
- [F3]The shares are held by 595871 BC Ltd., a private company, which Mr. Gamon is the sole shareholder.