4//SEC Filing
TORCHLIGHT ENERGY RESOURCES INC 4
Accession 0001140361-15-026628
CIK 0001431959operating
Filed
Jul 1, 8:00 PM ET
Accepted
Jul 2, 6:32 PM ET
Size
8.2 KB
Accession
0001140361-15-026628
Insider Transaction Report
Form 4
Shockey Eunis Lorance Jr
Director
Transactions
- Award
Warrants
2015-05-04+400,000→ 400,000 totalExercise: $0.50From: 2015-05-04Exp: 2018-05-04→ Common Stock (400,000 underlying) - Award
Warrants
2015-06-30+50,000→ 50,000 totalExercise: $2.29From: 2015-06-30Exp: 2018-06-30→ Common Stock (50,000 underlying)
Footnotes (2)
- [F1]The issuer issued a promissory note (the "Note") to Mr. Shockey on November 4, 2014 to evidence his loan of $500,000, which Note was due on December 4, 2014. As consideration for defaulting on the Note and for Mr. Shockey agreeing to extend the Note, the issuer's Board of Directors authorized issuing the 400,000 warrants to Mr. Shockey on May 4, 2015.
- [F2]On June 30, 2015, the issuer's Board of Directors authorized issuing the 50,000 warrants to Mr. Shockey as consideration for agreeing to extend the Note to December 31, 2015. Under the terms of the extension, if the Note is not earlier prepaid, the issuer must issue Mr. Shockey an additional 50,000 warrants on September 30, 2015 with an exercise price equal to the closing market price on that date plus $0.05 and an additional 50,000 warrants on December 31, 2015 with an exercise price equal to the closing market price on that date plus $0.05.
Documents
Issuer
TORCHLIGHT ENERGY RESOURCES INC
CIK 0001431959
Entity typeoperating
IncorporatedNV
Related Parties
1- filerCIK 0001431959
Filing Metadata
- Form type
- 4
- Filed
- Jul 1, 8:00 PM ET
- Accepted
- Jul 2, 6:32 PM ET
- Size
- 8.2 KB