MEHL BIOPHILE INTERNATIONAL CORP 3
3 · MEHL BIOPHILE INTERNATIONAL CORP · Filed Aug 28, 1997
Insider Transaction Report
Form 3
No transactions or holdings reported in this filing.
Footnotes (2)
- [1]The shares are owned by Clearwater Fund IV Ltd. which is wholly owned by the Reporting Person.
- [2]The Reporting Person directly owns 8,000 shares of 5% Cumulative Convertible Preferred Stock, Series E ("Series E Preferred Stock") and indirectly owns 2,231 shares of Series E Preferred Stock owned by Clearwater Fund IV Ltd. by virtue of the Reporting Person's 100% ownership of Clearwater Fund IV Ltd. The Series E Preferred Stock is convertible into the Common Stock, par value $.01 per share, of the issuer ("Common Stock") at any time at 80% of the average market price of the Common Stock for the five trading days prior to conversion, subject to certain limitations. If the 8,000 shares of Series E Preferred Stock directly owned by the Reporting Person were converted as of August 23, 1997, said Series E Preferred Stock would be converted into 3,703,704 shares of Common Stock. If the 2,231 shares of Series E Preferred Stock indirectly owned by the Reporting Person were converted as of August 23, 1997, said Series E Preferred Stock would be converted into 1,032,870 shares of Common Stock. CLEARWATER FUND IV, LLC By