DigitalPost Interactive, Inc. 4
4 · DigitalPost Interactive, Inc. · Filed Jun 25, 2008
Insider Transaction Report
Form 4
Dong Steven
CFO
Transactions
- Award
Warrant to purchase $.001 Par Value Common Stock
2008-06-25+29,335→ 2,563,080 totalExercise: $0.18Exp: 2013-06-25→ $.001 Par Value Common Stock (29,335 underlying)
Footnotes (3)
- [F1]On May 29, 2008, the Company entered into a convertible promissory note which required the subordination of all previously issued convertible promissory note holders. As a result, Mr. Dong agreed to subordinate his convertible note in the amount of $45,000, entered into in October 2007, in exchange for a warrant to purchase 29,335 sharess of common stock at an exercise price of $.18 per share.
- [F2]2,563,080 includes previously granted options to purchase 980,985 shares of common stock granted to a consulting firm owned by Mr. Dong from when Mr. Dong was a consultant of the Company prior to his employment. It also includes 112,500 shares of common stock underlying a warrant and approximately 365,260 shares of common stock underlying a convertible note purchased by Mr. Dong pursuant to a convertible note offering by the Company in October 2007.
- [F3]The warrant vests 50% immediately and the other 50% vests upon conversion pro-rata of the convertible promissory note in the amount of $45,000. The warrant expires 6/25/13.