Z TRIM HOLDINGS, INC 4

Accession 0001140361-15-001518

CIK 0001052257operating

View on SEC.gov Company Profile

Filed

Jan 11, 7:00 PM ET

Accepted

Jan 12, 8:34 PM ET

Size

24.7 KB

Accession

0001140361-15-001518

Insider Transaction Report

Form 4

Period: 2015-01-08

Z TRIM HOLDINGS, INCZTHO

Hershhorn Mark

Director

Transactions

Other
Warrant
2015-01-08+17,737→ 17,737 total(indirect: See footnotes)
Exercise: $0.64From: 2015-01-08Exp: 2020-01-08→ Common Stock (17,737 underlying)
Other
Warrant
2015-01-08+44,606→ 44,606 total
Exercise: $0.64From: 2015-01-08Exp: 2020-01-08→ Common Stock (44,606 underlying)
Other
Convertible Note
2015-01-08−17,842→ 57,158 total(indirect: See footnotes)
From: 2014-05-12Exp: 2016-05-12→ See footnote (17,842 underlying)
Other
Warrant
2015-01-08+41,712→ 41,712 total(indirect: See footnotes)
Exercise: $0.64From: 2015-01-08Exp: 2020-01-08→ Common Stock (41,712 underlying)
Other
Convertible Preferred Stock
2015-01-08+5,211→ 5,211 total
From: 2015-01-08Exp: 2018-01-08→ Common Stock (59,554 underlying)
Other
Convertible Preferred Stock
2015-01-08+4,873→ 4,873 total(indirect: See footnotes)
From: 2015-01-08Exp: 2018-01-08→ Common Stock (55,690 underlying)
Other
Convertible Note
2015-01-08−19,000→ 0 total
From: 2014-04-30Exp: 2016-04-30→ See footnote (19,000 underlying)
Other
Warrant
2015-01-08+18,968→ 18,968 total
Exercise: $0.64From: 2015-01-08Exp: 2020-01-08→ Common Stock (18,968 underlying)

Footnotes (3)

[F1]Mr. Hershhorn and CKS Warehouse, an entity in which Mr. Hershhorn owns a controlling interest ("CKS"), each exchanged previously reported convertible notes (Mr. Hershhorn's note had a principal amount of $19,000, all of which was exchanged and CKS's note had a principal amount of $75,000, of which $17,842 (plus interest) was exchanged and $57,158 remains outstanding) (together, the "Notes") in the aggregate amount (principal and interest) of $20,844 and $19,491, respectively, for 5,211 units and 4,873 respectively (the "Units"), with each Unit consisting of one (1) share of 12.5% redeemable convertible preferred stock (the "Preferred Stock") and one (1) warrant to acquire 8.56 shares (the "Initial Warrants") of Z Trim Holdings, Inc. (the "Company") common stock, par value $0.00005 per share (the "Common Stock"), at an exercise price of $0.64 per share of Common Stock. Mr. Hershhorn and CKS each received one (1) Unit for every $4.00 of debt exchanged.
[F2]Mr. Hershhorn and CKS were issued additional warrants (the "Additional Warrants") exercisable to acquire an aggregate of 18,968 shares and 41,712 shares, respectively, of Common Stock at an exercise price of $0.64 per share. In connection with the acquisition of the Units, Mr. Hershhorn and CKS acquired an aggregate of (1) 5,211 shares and 4,873 shares, respectively, of Preferred Stock, (2) 44,606 Initial Warrants and 41,712 Initial Warrants, respectively, and (3) 18,968 Additional Warrants and 17,737 Additional Warrants, respectively. The Initial Warrants and Additional Warrants are subject to certain anti-dilution and other adjustments.
[F3]Each share of Preferred Stock (together with any accrued but unpaid dividends thereon) is convertible into shares of Common Stock at the option of the holder at any time at a conversion price per share equal to the sum of the stated value ($4.00 per share) and any accrued but unpaid dividends thereon through the date of notice of conversion divided by the conversion price, which will initially be $0.35 per share of Preferred Stock, subject to certain anti-dilution and other adjustments.

Documents

1 file

4
doc1.xmlPrimary
FORM 4

Issuer

Z TRIM HOLDINGS, INC

CIK 0001052257

→

Entity typeoperating

IncorporatedNV

Related Parties

filerCIK 0001052257

Filing Metadata

Form type: 4
Filed: Jan 11, 7:00 PM ET
Accepted: Jan 12, 8:34 PM ET
Size: 24.7 KB

View on SEC.gov