5//SEC Filing
TIDELANDS OIL & GAS CORP/WA 5
Accession 0001010549-07-000094
CIK 0001107104operating
Filed
Feb 4, 7:00 PM ET
Accepted
Feb 5, 4:04 PM ET
Size
15.0 KB
Accession
0001010549-07-000094
Insider Transaction Report
Form 5
SMITH JAMES B
DirectorPresident
Transactions
- Other
Non-recourse note with cap feature
2006-12-31−1→ 2 total(indirect: By Partnership)Exercise: $0.88From: 2006-12-31Exp: 2006-12-31→ Common Stock (130,600 underlying) - Other
Common Stock
2006-12-31−500,000→ 0 total(indirect: By Partnership)
Holdings
- 39,000(indirect: By IRA)
Common Stock
- 360,000(indirect: By Trust)
Common Stock
- 1,150,000
Common Stock
Footnotes (2)
- [F1]A limited partnership holding 500,000 shares of the issuer previously pledged such shares in connection with a non-recourse loan in the aggregate amount of $289,000. The loan was funded in three separate advances at 85% of the market value of the shares on the date of each advance. The per-share loan amounts were $0.6214 (for the advance made on 11/10/2004), $0.5695 (for the advance made on 11/17/2004), and $0.5588 (for the advance made on 11/27/2004). The non-recourse loan included a "cap" feature which is described in more detail in the Reporting Person's Form 5/A filed on June 20, 2006 for the period ended December 31, 2004. On December 31, 2006, the liquidation price of the pledged shares was below each of the respective loan amounts, and therefore, the limited partnership chose to surrender the pledged shares to the lender with no further obligation.
- [F2]The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, if any.
Documents
Issuer
TIDELANDS OIL & GAS CORP/WA
CIK 0001107104
Entity typeoperating
IncorporatedNV
Related Parties
1- filerCIK 0001107104
Filing Metadata
- Form type
- 5
- Filed
- Feb 4, 7:00 PM ET
- Accepted
- Feb 5, 4:04 PM ET
- Size
- 15.0 KB