SMITH JAMES B 4
4 · TIDELANDS OIL & GAS CORP/WA · Filed Feb 7, 2007
Insider Transaction Report
Form 4
SMITH JAMES B
DirectorPresident
Transactions
- Disposition to Issuer
Common Stock
2007-01-22$0.23/sh−500,000$115,000→ 650,000 total
Holdings
- 39,000(indirect: By IRA)
Common Stock
- 360,000(indirect: By Trust)
Common Stock
Footnotes (2)
- [F1]On September 14, 2004, the Reporting Person acquired 500,000 shares of common stock of the issuer pursuant to a promissory note as described in the Reporting Person's Form 4 filed on November 17, 2004. On January 22, 2007, the Reporting Person transferred the 500,000 shares to the issuer in consideration for the cancellation of the promissory note. As of January 22, 2007, the outstanding principal and interest under the note was $117,458.90.
- [F2]The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, if any.