BOYCE KIM 4
4 · REFLECT SCIENTIFIC INC · Filed Jun 21, 2007
Insider Transaction Report
Form 4
BOYCE KIM
DirectorCEO10% Owner
Transactions
- Other
Common Stock
2007-06-20−820,000→ 17,918,250 total
Footnotes (1)
- [F1]820,000 shares of common stock owned by Kim Boyce were transferred to SCS, Inc. to compromise, settle and release all claims which either Mr. Boyce, the Company, Karl Smith or SCS, Inc., has or ever had against the other arising out of, or related to a Consulting Agreement dated August 8, 2002, by and between the Company and SCS, Inc., and specifically, Section 6 thereof titled "Right of First Refusal", or otherwise. The shares are "restricted securities" and valued at $41,000 in the Release and will be held in an escrow that will prohibit their resale or disposition in any manner until on or after December 31, 2007.