ILINC COMMUNICATIONS INC 4
4 · ILINC COMMUNICATIONS INC · Filed Mar 10, 2008
Insider Transaction Report
Form 4
POWERS JAMES M JR
DirectorChairman, Pres. & CEO
Transactions
- Other
Convertible Redeemable Subordinated Note (right to buy)
2008-03-06+50,000→ 50,000 total(indirect: By Trust)Exercise: $1.00→ Common Stock (50,000 underlying)
Footnotes (1)
- [F1]On March 6, 2008, Mr. Powers purchased the Convertible Redeemable Subordinated Note originally issued by iLinc Communications, Inc. and with an original principal balance of $50,000 (the "Note"), from a private investor. The Note is convertible into 50,000 shares of Common Stock. The Note is convertible at the option of the holder unless earlier redeemed until March 29, 2012. The Note was acquired for $38,666.66 and the Note's terms were not modified as a part of the transaction. The Note was purchased for his mother's trust account (Helen H. Powers Revocable Living Trust) of which he is an advisor and a beneficiary.