MCT HOLDING CORP 4
4 · MCT HOLDING CORP · Filed Dec 19, 2011
Insider Transaction Report
Form 4
MCT HOLDING CORPMTHL
MERRELL DAVID C
Other
Transactions
- Sale
Common Stock
2011-12-15−281,200→ 78,800 total
Footnotes (2)
- [F1]On December 15, 2011, David C. Merrell and Lindsey Hailstone, who were directors and executive officers of the Registrant, collectively sold in a private transaction, 336,200 shares, representing approximately 65.6% of the outstanding common voting securities of the Registrant. The total purchase price of the shares was $214,500. The Stock Purchase Agreement (the "Agreement") regarding this purchase and sale also required that Mr. Merrell and other parties cancel all outstanding debts owed by the Registrant, amounting to $627,472 at September 30, 2011, and any additional liabilities that might have arisen from September 30, 2011 to the date of the Agreement. Approximately 80% of these liabilities were "related party" debt and were owed to Mr. Merrell or his family related entities that had advanced the loans to the Company.
- [F2]There was a 3 for 1 dividend December 4, 2008, increasing Mr. Merrell's ownership to 360,000 post-dividend shares.