Tran Van Thuy 4
4 · VERITEC INC · Filed Jan 7, 2005
Insider Transaction Report
Form 4
VERITEC INCVRTC
Tran Van Thuy
Director10% Owner
Transactions
- Conversion
Common Stock
2004-12-31$0.10/sh+5,595,358$559,536→ 9,204,296 total(indirect: By Entity) - Conversion
Common Stock
2004-12-31$0.73/sh+750,000$547,500→ 9,204,296 total(indirect: By Entity) - Conversion
Common Stock
2004-12-31$0.25/sh+1,622,391$405,598→ 9,204,296 total(indirect: By Entity) - Conversion
Convertible Promissory
2004-12-31$0.10/sh→ 0 total(indirect: By Entity)Exercise: $0.10→ Common Stock (5,595,358 underlying) - Conversion
Series H Preferred Stock
2004-12-31$0.73/sh−75,000$54,750→ 0 total(indirect: By Entity)Exercise: $0.73→ Common Stock (750,000 underlying)
Footnotes (5)
- [F1]Includes all transactions on December 31, 2004. Includes 297,960 shares owned directly by reporting person.
- [F2]Immediately.
- [F3]All convertible promissory notes were in default.
- [F4]None
- [F5]Original consideration was a promissory note for $2,000,000 in exchange for 275,000 shares of Series H Stock, 200,000 Series H shares were converted in 1999. The effective per share conversion price was $.73. At December 31, 2004, the unpaid principal balance of the note was $759,259.32. The note is payable in monthly installments through 2008 and is current.