4//SEC Filing
ROSS LOU 4
Accession 0001076542-03-000050
CIK 0001022505other
Filed
Jun 12, 8:00 PM ET
Accepted
Jun 13, 11:19 AM ET
Size
5.5 KB
Accession
0001076542-03-000050
Insider Transaction Report
Form 4
NATIONAL SCIENTIFIC CORP/AZNSCT.OB
No transactions or holdings reported in this filing.
Footnotes (1)
- [F1]As part of its program to lower debt without expending cash resources, the Company issued 288,334 restricted common shares, valued at approximately $0.15 per share, to Mr. Ross in exchange for the forgiveness of $43,250 of debt, or one half of the total debt owed by the Company to Mr. Ross of approximately $86,500, which included various disclosed notes, salary deferred in 2002, and board fees deferred in 2002 (see the Company's Form10-KSB filing for fiscal year ending September 30, 2002, for additional information on this debt). Mr. Ross has accepted a three-year interest free note for the remainder of the debt owed to him by the Company of $43,250, payable at the end of the three-year period. NSC also issued 50,000 restricted shares to Mr. Ross for reduced Director's fees for February 2003 through the end of the fiscal year ending September 2003.
Documents
Issuer
NATIONAL SCIENTIFIC CORP/AZ
CIK 0001022505
Entity typeother
IncorporatedTX
Related Parties
1- filerCIK 0001164510
Filing Metadata
- Form type
- 4
- Filed
- Jun 12, 8:00 PM ET
- Accepted
- Jun 13, 11:19 AM ET
- Size
- 5.5 KB