MONARCH STAFFING, INC. 3
3 · MONARCH STAFFING, INC. · Filed Jun 20, 2007
Insider Transaction Report
Form 3
Monarch Bay Management Company, LLC
10% Owner
Holdings
Series A Preferred Stock
From: 2007-05-11→ Common Stock (2,500,000 underlying)
Footnotes (3)
- [F1]Based on conversion of shares of Series A Preferred Stock at a conversion price of $0.20 per share.
- [F2]Each share of Series A Preferred Stock is convertible into a number of shares of the Issuer's Common Stock determined by dividing (i) the sum of liquidation preference of such share of Series A Preferred Stock ($100), plus any accrued but unpaid dividend thereon, by (ii) a conversion price equal to (a) at any time prior to November 15, 2007, $0.20 and (b) from and after November 15, 2007, the lower of (x) $0.20 or (y) 75% of the average of the three lowest intraday trading prices for the Common Stock on a principal market for the 20 trading days before but not including the conversion date.
- [F3]N/A