4//SEC Filing
Skyline Medical Inc. 4
Accession 0001104659-15-065805
$AGPUCIK 0001446159operating
Filed
Sep 16, 8:00 PM ET
Accepted
Sep 17, 5:28 PM ET
Size
17.7 KB
Accession
0001104659-15-065805
Insider Transaction Report
Form 4
Kornberg Joshua
DirectorCEO and President10% Owner
Transactions
- Other
Common Stock, $.01 par value
2015-08-31+2,778→ 6,961 total - Other
Series A Convertible Preferred Stock, $.01 par value
2015-08-31−250→ 0 total→ Common Stock - Other
Series A Warrants
2015-08-31+11,112→ 11,112 totalExercise: $4.95Exp: 2020-08-31→ Common Stock (11,112 underlying) - Other
Series B Convertible Preferred Stock
2015-08-31+2,778→ 2,778 totalFrom: 2016-02-28→ Common Stock (2,778 underlying) - Other
Senior Convertible Note
2015-08-31→ 0 total(indirect: By LLC)Exercise: $11.25From: 2014-07-23Exp: 2015-07-23→ Common Stock
Holdings
- 805,982(indirect: By SOK Partners)
Common Stock, $.01 par value
- 615,281(indirect: By LLC)
Common Stock, $.01 par value
Footnotes (9)
- [F1]Pursuant to an Exchange Agreement with the majority holders of Series A Convertible Preferred Stock (the "Series A Shares"), one of which is the Reporting Person, the holders agreed to exchange their Series A Shares for Units under the same terms as the Issuer's public offering which closed on 8-31-2015. Each Unit consists of 1 share of Common Stock, 1 share of Series B Convertible Preferred Stock and 4 Series A Warrants. The reporting person exchanged 250 Series A Shares for 2,778 Units.
- [F2]A limited liability company of which the Reporting Person is one of the managers. The Reporting Person disclaims beneficial ownership of such shares, except for those as which he may have a pecuniary interest therein.
- [F3]A limited liability company, of which the Reporting Person is a member. The Reporting Person disclaims beneficial ownership of such shares, except for those as which he may have a pecuniary interest therein.
- [F4]The Series A Preferred Stock was convertible into shares of common stock.
- [F5]No expiration date.
- [F6]The Series B Convertible Preferred stock is convertible into Common Stock on a one-for-one basis.
- [F7]The warrants are exercisable upon the separation of the Units provided that all Series A Warrants in a given Unit may be exercised for cash at any time commencing 30 days after the issuance date.
- [F8]On July 23, 2014, the Issuer issued a senior convertible note in the original amount of $122,195.60 (the "Note") to SOK Partners, LLC ("SOK Partners"). The Note was convertible at any time after issuance, at the holder's option, into shares of the company's common stock, par value $0.01 per share (the "Common Stock"), at a conversion price equal to the lesser of (i) 72.5% (or if an event of default has occurred and is continuing, 70%) of the average of the lowest three volume weighted average prices of the Common Stock during the ten consecutive trading days prior to the conversion date, and (ii) $11.25 (as adjusted for stock splits, stock dividends, recapitalizations or similar events). On August 31, 2015, in consideration of the payment by the Issuer of $167,694.12, the outstanding principal, accrued interest and penalities payable under the Note were repaid and the Note was canceled.
- [F9]The Note was due on September 1, 2015, as extended by agreement of the holder.
Documents
Issuer
Skyline Medical Inc.
CIK 0001446159
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001446159
Filing Metadata
- Form type
- 4
- Filed
- Sep 16, 8:00 PM ET
- Accepted
- Sep 17, 5:28 PM ET
- Size
- 17.7 KB