Gad Morris 5

5 · BEST ENERGY SERVICES, INC. · Filed Feb 9, 2011

Form 5

Period: 2010-12-31

10% Owner

Transactions

Purchase
Common Stock
2010-12-16+2,713,667→ 5,151,167 total
Other
Common Stock Purchase Warrant
2009-11-27+1→ 1 total
Exercise: $0.10From: 2009-11-27Exp: 2014-11-26→ Common Stock (600,000 underlying)
Other
Series A Preferred Stock
2010-03-31+16,474→ 324,830 total
From: 2010-03-31→ Common Stock (41,185 underlying)
Other
Common Stock Purchase Warrant
2011-01-13+1→ 1 total
Exercise: $0.10From: 2011-01-13Exp: 2016-01-12→ Common Stock (5,427,334 underlying)
Other
Series A Preferred Stock
2009-12-31+15,638→ 308,356 total
From: 2009-12-31→ Common Stock (39,093 underlying)

Footnotes (3)

[F1]The Company issued the shares and the common stock purchase warrant in lieu of paying accrued interest of $271,367 on a certificate of deposit posted by the Reporting Person with a financial institution which provided credit to the company.
[F2]Received from the Company, together with a 20% interest in one of its subsidiaries and an assignment of a short term lease, in consideration of Reporting Person advancing $50,000 for the benefit of the Company.
[F3]Granted by the Company as a payment in kind to holders of Series A Preferred Stock. The Series A Preferred Stock has a stated value of $10 per share, and is to be redeemed by the Company using not less than 25% of its net income each year. The unredeemed face value may be converted by the holder at $4.00 per share, or by the Company at $4.00 per share if the common stock closes at $9.60 or higher for more than twenty consecutive days.

Documents

1 file