ULTRASTRIP SYSTEMS INC 4

4 · ULTRASTRIP SYSTEMS INC · Filed Oct 28, 2005

Form 4

Period: 2005-10-20

Pres & Chief Financial Officer10% Owner

Transactions

Award
Warrants (Right to Buy)
2004-11-30+1,000,000→ 5,000,000 total
Exercise: $1.00Exp: 2014-11-30→ Common Stock (1,000,000 underlying)
Award
Stock Option (Right to Buy)
2005-10-20+3,000,000→ 9,100,000 total
Exercise: $1.00Exp: 2010-10-20→ Common Stock (3,000,000 underlying)
Award
Stock Option (Right to Buy)
2005-02-28+100,000→ 6,100,000 total
Exercise: $1.10From: 2005-02-28Exp: 2014-12-31→ Common Stock (100,000 underlying)
Award
Stock Option (Right to Buy)
2001-01-01+1,000,000→ 1,000,000 total
Exercise: $3.00From: 2001-01-01Exp: 2007-06-30→ Common Stock (1,000,000 underlying)
Award
Stock Option (Right to Buy)
2003-10-03+3,000,000→ 4,000,000 total
Exercise: $1.30From: 2003-10-03Exp: 2013-10-03→ Common Stock (3,000,000 underlying)

Footnotes (6)

[F1]Held by Dennis McGuire.
[F2]Not Applicable.
[F3]Held jointly by Dennis and Jacqueline McGuire.
[F4]Exercisable upon the earlier of (i) November 30, 2005 or (ii) one year from the effective date of a registration statement covering the public sale of shares of common stock issuable upon exercise of the warrants.
[F5]Held by Jacqueline McGuire.
[F6]1/3 of the options were immediately vested, 1/3 will vest on December 31, 2006, and 1/3 will vest on December 31, 2007, subject to continued employment with the issuer on the applicable vesting date.

Documents

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