4//SEC Filing
AIRLINE COMMUNICATIONS LTD 4
Accession 0001139020-05-000006
CIK 0001103406other
Filed
Jan 2, 7:00 PM ET
Accepted
Jan 3, 1:34 PM ET
Size
8.4 KB
Accession
0001139020-05-000006
Insider Transaction Report
Form 4
AIRLINE COMMUNICATIONS LTD
10% Owner
Transactions
- Other
Series D Convertible Preferred Stock
2004-12-30+155,512→ 155,512 totalFrom: 2005-12-30→ Common Stock (155,512 underlying) - Other
Common Stock
2004-12-30−11,567,560→ 0 total
Footnotes (2)
- [F1]On or about December 30, 2004, Airline Communications, Ltd. ("Airline"), an entity controlled by Douglas G. Gregg and Paramco Financial Group, Inc. (the "Company") completed a transaction whereby Airline converted 11,567,560 shares of the Company's Common Stock into 155,512 shares of the Company's Series D Convertible Stock. This transaction was made pusuant to that certain Settlement and Release Agreement by and between Mr. Gregg and the Company dated November 30, 2004.
- [F2]The Conversion Price for the Series D Convertible Preferred Stock of the Company is volume weighted average Closing Bid Price of the underlying Common Stock for the ten-day period preseding conversion. The number of shares of Common Stock into which the Series D Convertible Preferred Stock may be converted into is determined by dividing the total Purchase Price for the Series D Convertible Stock ($1.00 per share) by the Conversion Price. The resulting number shall be increased by 25% to reflect a conversion premium.
Documents
Issuer
PARAMCO FINANCIAL GROUP INC
CIK 0001103406
Entity typeother
IncorporatedNV
Related Parties
1- filerCIK 0001177205
Filing Metadata
- Form type
- 4
- Filed
- Jan 2, 7:00 PM ET
- Accepted
- Jan 3, 1:34 PM ET
- Size
- 8.4 KB