SOLOMON STEVEN B 4
4 · CT HOLDINGS ENTERPRISES INC · Filed Mar 6, 2007
Insider Transaction Report
Form 4
SOLOMON STEVEN B
DirectorCEO10% Owner
Transactions
- Award
Common Stock
2007-03-02$0.01/sh+507,143$5,071→ 1,004,547 total(indirect: By CITN Investment Inc.) - Exercise of In-Money
Option Exercise
2007-03-02$0.01/sh+507,143$5,071→ 28,572 total(indirect: By CITN Investment Inc.)Exercise: $0.01From: 2007-02-28Exp: 2007-04-28→ Common Stock (507,143 underlying) - Award
Common Stock
2007-03-02$0.40/sh+250,000$100,000→ 497,404 total - Conversion
Exercise of Right to Common Stock
2007-03-02$0.40/sh+250,000$100,000→ 537,715 totalExercise: $0.40From: 2007-02-28Exp: 2017-02-28→ Common Stock (250,000 underlying)
Footnotes (3)
- [F1]On March 2, 2007 Mr. Solomon exercised his right to acquire 250,000 (post 70 to 1 reverse split shares) of CT Holdings Enterprises, Inc. common stock for providing up to $100,000 of cash to fund operating expenses of the Company.
- [F2]Adjusted for the effect of a 70 to 1 reverse stock split effective February 28, 2007.
- [F3]Mr. Solomon is a 50% owner of CITN Investment Inc. (CII) which loaned $277,447 to the Company in 2005 pursuant to a amended convertible note. In connection with the settlement of the note in May 2006, CII option to purchase 1,014,286 shares (71,000,000 pre 70 to 1 reverse split shares) of CT Holdings Enterprises common stock became exercisable at an exercise price of par value or $0.01 per share. The option would have expired on April 28, 2007, 60 days following the effectiveness of the reverse stock split.