Long Island Iced Tea Corp. 4
4 · Long Island Iced Tea Corp. · Filed Aug 1, 2016
Insider Transaction Report
Form 4
WATSON E J
10% Owner
Transactions
- Other
Common Stock
2016-07-28+261,834→ 261,834 total(indirect: by Brentwood LIIT (NZ) Ltd) - Other
Convertible Promissory Note
2016-07-28(indirect: by Brentwood LIIT (NZ) Ltd)Exercise: $4.00From: 2015-11-23→ Common Stock (258,962 underlying) - Other
Warrant
2016-07-28−689,444→ 0 total(indirect: by Brentwood LIIT (NZ) Ltd)Exercise: $4.50From: 2015-11-23Exp: 2018-11-23→ Common Stock (689,444 underlying) - Other
Common Stock
2016-07-28+301,632→ 563,466 total(indirect: by Brentwood LIIT (NZ) Ltd)
Holdings
- 754,355(indirect: by Cullen Inc. Holdings Ltd.)
Common Stock
Footnotes (4)
- [F1]Pursuant to a reclassification exempt under Rule 16b-7, the Convertible Promissory Note and the Warrant were exchanged for 261,834 and 301,632 shares of the Issuer's common stock, respectively.
- [F2]These securities are held by Brentwood LIIT (NZ) Ltd, an entity controlled by the reporting person. The reporting person 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.
- [F3]These securities are held by Cullen Inc. Holdings Ltd., an entity controlled by the reporting person. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F4]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.