VITAL LIVING INC 4

4 · VITAL LIVING INC · Filed Jun 15, 2006

Form 4

Period: 2006-06-13

10% Owner

Transactions

Other
Series D Convertible Preferred Stock
2006-06-13→ 0 total
Exercise: $1.00From: 2003-08-18→ Common Stock (1,000,000 underlying)
Other
Common Stock
2006-06-13+12,500,000→ 29,493,599 total
Other
12% Senior Secured Convertible Notes
2006-06-13→ 0 total
Exercise: $0.25From: 2003-12-17Exp: 2008-12-17→ Common Stock (4,000,000 underlying)

Footnotes (3)

[F1]Pursuant to an agreement between the Issuer, SkyePharma and VTLV LLC dated June 13, 2006, SkyePharma received 12,500,000 shares of Common Stock from the Issuer in exchange for the termination of certain outstanding debts owed by the Issuer to SkyePharma. Also under this agreement as of June 13, 2006, VTLV LLC purchased the Senior Secured Convertible Notes and the shares of Series D Convertible Stock from SkyePharma for $416,666.
[F2]The Issuer and a majority of the holders of the Notes agreed to adjust effective October 15, 2004 the conversion price of the Notes from $0.95 to $0.25, resulting in an increase in the number of shares issuable upon conversion of $1,000,000 aggregate principal amount of the Notes from 1,052,632 shares to 4,000,000 shares of Common Stock. As a result of standard anti-dilution adjustments in June and July 2004, the conversion price of the Notes had previously been reset to $0.95 from $1.00.
[F3]None.

Documents

1 file