SBS INTERACTIVE CO 4
4 · SBS INTERACTIVE CO · Filed Aug 14, 2006
Insider Transaction Report
Form 4
SBS INTERACTIVE COSBSS.OB
Cohn Arthur
10% Owner
Transactions
- Purchase
Convertible Loan
2006-07-17Exercise: $0.03From: 2006-07-17→ Common Stock (25,393,998 underlying)
Footnotes (2)
- [F1]The Reporting Person loaned the Issuer $253,940.00 pursuant to a demand convertible promissory note that is immediately convertible at the option of the Reporting Person into shares of Common Stock at a conversion price of $0.03 per share, an immediately exercisable three-year warrant to purchase 8,464,666 shares of Common Stock at an exercise price of $1.00 per share, and an immediately exercisable three-year warrant to purchase 8,464,666 shares of Common Stock at an exercise price of $1.25 per share.
- [F2]Following the transaction reported by this report, the Reporting Person holds demand convertible promissory notes totaling $855,045.76, plus accrued interest, that are immediately convertible at the option of the Reporting Person, as of the date hereof, into shares of Common Stock at a conversion price of $0.03 per shares, immediately exercisable three-year warrants to purchase 33,419,886 shares of Common Stock at an exercise price of $1.00 per share, and immediately exercisable three-year warrants to purchase 27,154,867 shares of Common Stock at an exercise price of $1.25 per share.