SOLOMON STEVEN B 4
4 · CT HOLDINGS INC · Filed May 26, 2004
Insider Transaction Report
Form 4
CT HOLDINGS INCCITN
SOLOMON STEVEN B
DirectorCEO10% Owner
Transactions
- Other
Convertible Note
2004-05-24+23,666,667→ 23,666,667 total(indirect: By CITN Investment Inc.)→ Common Stock (23,666,667 underlying) - Award
Right to buy options
2001-04-01$0.20/sh+0$0→ 2,000,000 totalExercise: $0.20From: 2001-04-01Exp: 2011-04-01→ Common Stock (2,000,000 underlying)
Footnotes (2)
- [F1]Options previously reported on Form 4s.
- [F2]Mr. Solomon is a 50% owner of CITN Investment, Inc. (CII), which loaned $200,000 to the Company pursuant to a convertible note. If the note is converted, CII would own 23,666,667 shares of CT Holdings common stock. The note was issued pursuant to a loan and security agreement, which provides for advances of up to $600,000 (including the $200,000 already advanced) at the discretion of CII. If all funds are advanced, and the notes converted, CII would own 71,000,000 shares of the CT Holdings common stock.