Virtual Sourcing, Inc. 3
3 · Virtual Sourcing, Inc. · Filed Jan 8, 2015
Insider Transaction Report
Form 3
Gallant Acquisitions Corp.
DirectorPresident10% Owner
Holdings
Series A Preferred Stock
→ Common StockSeries B Preferred Stock
→ Common Stock- 55,000,000
Common Stock
Footnotes (4)
- [F1]Any
- [F2]None
- [F3]Gallant Acquisitions Corp. holds 999 Series A Preferred Shares, which is equal to 100% of the Series A Preferred Shares outstanding. The Preferred Series A Shares carry voting rights of 50.1% of the common stock able to vote or consent to any action requiring a vote regardless of the amount of common stock outstanding. The Series A Preferred Stock is also convertible at a price of $100 divided by the lowest of the closing bid price for the 20 days prior to the conversion request, but at no time less than $0.001. At no time can the Series A Preferred Shares be converted in a way that would result in the beneficial ownership of more than 9.9% of the outstanding shares of the company.
- [F4]Gallant Acquisitions Corp. owns 100 Series B Preferred Shares, which is equal to 36.2% of the Series B Preferred Shares outstanding. The Preferred Series B Shares carry no voting rights. The Series B Preferred Stock is convertible at a price of $1,000 divided by $0.01, or 100,000 common shares for every 1 share of Series B Preferred Stock. At no time can the Series B Preferred Stock be converted in a way that would result in the beneficial ownership of more than 9.9% of the outstanding shares of the company.