MONARCH STAFFING, INC. 3
3 · MONARCH STAFFING, INC. · Filed Jul 6, 2007
Insider Transaction Report
Form 3
Szot Matthew K
Chief Financial Officer
Holdings
- 207,083
Common Stock
Series A Preferred Stock
From: 2007-06-29→ Common Stock (125,000 underlying)
Footnotes (4)
- [F1]Restricted stock award which vests on June 29, 2008.
- [F2]Based on conversion of shares of Series A Preferred Stock at a conversion price of $0.20 per share.
- [F3]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.
- [F4]N/A