4//SEC Filing
ROCHON WILLIAM JOHN PHILIP 4
Accession 0001104659-12-084417
CIK 0001403085other
Filed
Dec 13, 7:00 PM ET
Accepted
Dec 14, 9:42 PM ET
Size
7.4 KB
Accession
0001104659-12-084417
Insider Transaction Report
Form 4
ROCHON WILLIAM JOHN PHILIP
Director10% Owner
Transactions
- Other
Convertible Subordinated Unsecured Promissory Note
2012-12-12$20000000.00/sh+0$0→ 0 total(indirect: See Footnote)Exercise: $0.33→ Common Stock
Footnotes (3)
- [F1]The Convertible Subordinated Unsecured Promissory Note in the original principal amount of $20,000,000, bearing interest at the annual rate of 4% (the "Note"), was purchased by Richmont Capital Partners V LP (the "Partnership") from the issuer for $20,000,000. John Rochon Jr. is the 100% owner, and is in control, of Richmont Street LLC, the sole general partner of the Partnership. The full amount of the Note (including any and all accrued interest thereon, whether previously converted to principal as payment-in-kind interest or otherwise) will be converted into shares of the issuer's common stock at a price of $0.33 per share, except that the Note may not be converted into more than 64,000,000 shares of the issuer's common stock.
- [F2]The outstanding principal amount of, and all accrued and unpaid interest on, the Note is mandatorily convertible into shares of the issuer's common stock within 15 days of the date that the shares of the issuer's common stock become available to the issuer for issuance.
- [F3]As of the date hereof, the issuer does not have sufficient authorized shares of common stock to issue to the Partnership upon such conversion of the Note. Rochon Capital Partners, Ltd., the holder of approximately 90% of the issuer's outstanding common stock, has agreed to surrender to the issuer the requisite number of shares of the issuer's common stock held by it to permit the full conversion of the Note. Those shares have not yet been surrendered, and no date for such surrender has been set.
Documents
Issuer
Computer Vision Systems Laboratories Corp.
CIK 0001403085
Entity typeother
Related Parties
1- filerCIK 0001564025
Filing Metadata
- Form type
- 4
- Filed
- Dec 13, 7:00 PM ET
- Accepted
- Dec 14, 9:42 PM ET
- Size
- 7.4 KB