4//SEC Filing
Zeitoun Andre 4
Accession 0001140361-09-010343
CIK 0000008328other
Filed
Apr 26, 8:00 PM ET
Accepted
Apr 27, 5:17 PM ET
Size
8.1 KB
Accession
0001140361-09-010343
Insider Transaction Report
Form 4
ATLAS MINING COALMI
Zeitoun Andre
DirectorPresident and CEO
Transactions
- Purchase
10% PIK-Election Convertible Note
2009-04-09$25000.00/sh+71,428$1,785,700,000→ 214,285 total(indirect: By LLC)Exercise: $0.35Exp: 2018-12-15→ Common Stock (71,428 underlying)
Footnotes (3)
- [F1]Pursuant to a series of note issuances, Atlas Mining Company ("Company") issued to Material Advisors LLC ("Material Advisors") a 10% PIK-Election Convertible Note ("Note") in the principal amount of $25,000. Reporting Person is the manager and an owner of membership interests in Material Advisors. This filing will not be deemed an admission that reporting person is a beneficial owner of the Note or the Common Stock into which the Note is convertible and because voting and investment decisions of Material Advisors require and are made by three or more individuals the ownership of the Note and all of the Common Stock into which the Note is convertible is expressly disclaimed.
- [F2]Note Maturity date is December 15, 2018. At Noteholder's option, amounts outstanding under Note may be converted into Common Stock at any time after Company has authorized sufficient shares to convert amounts outstanding under all notes of the series into Common Stock at conversion price of $.35 per share ("Conversion Price"). Amounts outstanding under Note are mandatorily convertible into Company Common Stock when: (i) Company has authorized a sufficient number of shares to convert amounts outstanding under all notes of the series into Common Stock; (ii)average closing bid or market price of Common Stock for preceding five trading days exceeds Conversion Price; and (iii) either (a) Company has filed a registration statement for resale of the number of shares of Common Stock into which outstanding amount under Note is convertible, or (b) the shares are resalable under Rule 144.
- [F3]Principal amount of $25,000 now outstanding under Note would convert into 71,428 shares of Common Stock. Reporting person owns a note in same series in principal amount of $50,000, convertible into 142,857 shares of Common Stock as reported on the Form 3 filed by reporting person on January 9, 2009.
Documents
Issuer
ATLAS MINING CO
CIK 0000008328
Entity typeother
Related Parties
1- filerCIK 0001453391
Filing Metadata
- Form type
- 4
- Filed
- Apr 26, 8:00 PM ET
- Accepted
- Apr 27, 5:17 PM ET
- Size
- 8.1 KB