4//SEC Filing
DEFAULT PROOF CREDIT CARD SYSTEM INC /FL/ 4
Accession 0001091818-06-000225
CIK 0000803260operating
Filed
Jun 20, 8:00 PM ET
Accepted
Jun 21, 1:54 PM ET
Size
14.9 KB
Accession
0001091818-06-000225
Insider Transaction Report
Form 4
CUERVO VINCENT
DirectorCEO10% Owner
Transactions
- Award
Stock Option
2003-06-18$1.85/sh+150,000$277,500→ 600,000 totalExercise: $1.85From: 2003-06-18Exp: 2013-06-18→ Common Stock (150,000 underlying) - Exercise/Conversion
Stock Option
2006-06-16$0.15/sh−225,000$33,750→ 455,000 totalExercise: $0.15From: 1999-02-11Exp: 2009-02-11→ Common Shares (225,000 underlying) - Sale
Common Stock
2006-05-30$0.35/sh−2,800$980→ 830,791 total(indirect: By Spouse) - Purchase
Common Stock
2006-06-16$0.15/sh+225,000$33,750→ 1,055,791 total - Award
Stock Option
1999-02-11$1.00/sh+300,000$300,000→ 300,000 totalExercise: $1.00From: 1999-02-11Exp: 2009-02-11→ Common Stock (300,000 underlying)
Footnotes (6)
- [F1]On, 02/11/1999, the Company Default Credit Card System granted stock options to reporter in the amount of 225000 shares @ 0.15 shares, exercisable upon the issue and receipt of US patent No. 6,105,009 and for 10 years thereafter. The US Patent No. 6,105,009 was issued by the US Patent Office on August 15, 2000. Reporter elected to convert options shares in to common stock for a total aggregate price of $33,700.
- [F2]On 06/16/2003, the Company, Default Credit Card Systems, granted a stock option to the reporter in the amount of 150,000 common shares @ $1.85, exercisable upon patent application No. 10/342,991 receipt of the related US Patent and Trademark Office. If this application No. 10/342,991 is rejected by the US Patent Office and the US Patent not issued, the application will be considered abandoned and this stock option will automatically expire and void. As of this date, reporter has yet to hear from the US PATENT OFFICE issuance of the related patent.
- [F3]On 02/11/1999, the Company Default Credit Card System grant stock option to the reporter in the amount of 300,000 shares @ 1.00, exercisable upon the receipt of related patent for application No.9/207,854 from the US Patent Office. This stock option will expire and void if the US Patent and Trademark Office rejects application No. 9/207.854 and doesn't issue the related patent.
- [F4]Refer to Footnote # 1.
- [F5]Reporter has direct control of 864,129 shares and indirect control of 191,573 share held in his wife's name. Thus, total direct/indirect control of 1,055,791 shares.
- [F6]Refer to indirect sale on Form 4 filed 05/30/2006.
Documents
Issuer
DEFAULT PROOF CREDIT CARD SYSTEM INC /FL/
CIK 0000803260
Entity typeoperating
IncorporatedFL
Related Parties
1- filerCIK 0000803260
Filing Metadata
- Form type
- 4
- Filed
- Jun 20, 8:00 PM ET
- Accepted
- Jun 21, 1:54 PM ET
- Size
- 14.9 KB