MEHL BIOPHILE INTERNATIONAL CORP 3
3 · MEHL BIOPHILE INTERNATIONAL CORP · Filed May 19, 1998
Insider Transaction Report
Form 3
No transactions or holdings reported in this filing.
Footnotes (2)
- [2]Clearwater Fund IV, LLC ("Clearwater LLC"), an entity of which the Reporting Person is the Managing Member, owns 8,000 shares of 5% Cumulative Convertible Preferred Stock, Series G ("Series G Preferred Stock") and Clearwater Fund IV Ltd. ("Clearwater Ltd."), which is wholly owned by Clearwater LLC, owns 2,231 shares of Series G Preferred Stock. The Series G Preferred Stock is convertible into Common Stock, par value $0.01 per share of the Issuer ("Common Stock") at any time, at 69.3% of the average market price of the Common Stock for the five trading days prior to conversion, subject to certain limitations. The 8,000 shares of Series G Preferred Stock owned by Clearwater LLC would be convertible into 17,429,193 shares of Common Stock as of May 5, 1998. The 2,231 shares of Series G Preferred Stock owned by Clearwater Ltd. would be convertible into 4,860,566 shares as of May 5, 1998. The Reporting Person disclaims beneficial ownership of all such shares.
- [3]The Warrants are owned by the Clearwater Fund IV, LLC, an entity with respect to which the Reporting Person is the Managing Member. The Reporting Person disclaims beneficial ownership of all such shares. /s/ Hans Frederic Heye May 6, 1998 --------------------------------------------- ----------------------- **