Long Island Iced Tea Corp. 4
4 · Long Island Iced Tea Corp. · Filed Nov 25, 2015
Insider Transaction Report
Form 4
WATSON E J
10% Owner
Transactions
- Purchase
Warrant
2015-11-23+689,444→ 689,444 total(indirect: by Brentwood LIIT Inc.)Exercise: $4.50From: 2015-11-23Exp: 2018-11-23→ Common Stock (689,444 underlying) - Purchase
Convertible Promissory Note
2015-11-23$271468.00/sh(indirect: by Brentwood LIIT Inc.)Exercise: $4.00From: 2015-11-23→ Common Stock (67,867 underlying)
Footnotes (3)
- [F1]All or any portion of the outstanding principal amount of the Convertible Promissory Note, and all accrued and unpaid interest thereon, are convertible, at the option of Brentwood LIIT Inc., into shares of the issuer's common stock. The loan matures on November 23, 2018.
- [F2]These securities were issued in consideration of a loan made by Brentwood LIIT Inc. to Long Island Brand Beverages LLC, the issuer's wholly owned subsidiary.
- [F3]Brentwood LIIT Inc. is an entity controlled by Mr. Watson. Mr. Watson disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.