CHINA BROADBAND CORP 4
4 · CHINA BROADBAND CORP · Filed Aug 29, 2003
Insider Transaction Report
Form 4
MILNE TOM G
DirectorChief Financial Officer
Transactions
- Other
Common Stock
2003-08-27$0.09/sh+682,802$60,769→ 692,802 total(indirect: Precise Details, Inc.)
Footnotes (2)
- [F1]Mr. Milne is a director and officer of Precise Details, Inc. and as such has voting power over it's shareholdings.
- [F2]On August 23, 2003, Precise Details, Inc. exercised it's right under the Alternative Compensation Plan to convert it's debt owed into shares of China Broadband Corp. Precise Details, Inc. was owed $60,443. Under the Alternative Compensation Plan, officers, directors, employees and consultants are eligible to receive two times the amount of unpaid compensation owed to them by the Company in Common Shares. The conversion price for the shares to be issued are calculated using the weighted average trading price for the last five trading days of the month in which compensation is earned. If no trading has taken place during the last five trading days, then the average of the bid and offer price for the last trading day is used, as posted on www.otcbb.com.