TOFUTTI BRANDS INC 4
4 · TOFUTTI BRANDS INC · Filed Jan 12, 2016
Insider Transaction Report
Form 4
MINTZ DAVID
DirectorChief Executive Officer10% Owner
Transactions
- Other
$500,000Promissory Note due December 31, 2017
2016-01-06→ 0 totalExercise: $4.01From: 2016-01-07Exp: 2017-12-31→ Common Stock
Footnotes (1)
- [F1]The Reporting Person entered into a loan agreement with the Issuer, evidenced by a promissory note, whereby the Reporting Person agreed to loan the Issuer $500,000 until December 31, 2017. The loan will bear interest at 5% per annum payable quarterly commencing March 31, 2016 without compounding. The loan amount, or any part thereof, including any interest or default interest, is convertible into shares of the Registrant's Common Stock at a conversion price of $4.01 per share at any time between January 6, 2016 and December 31, 2017.