Goyzueta Luis Humberto 4
4 · PURE BIOFUELS CORP · Filed Sep 14, 2007
Insider Transaction Report
Form 4
Goyzueta Luis Humberto
DirectorChief Executive Officer10% Owner
Transactions
- Other
Common Stock
2007-09-12−2,400,000→ 9,002,990 total
Footnotes (1)
- [F1]On February 6, 2007, PBOF, Luis Goyzueta and certain shareholders (Mr. Goyzueta and certain shareholders, collectively, the "Transferring Shareholders") entered into an agreement with ARC Investment Partners ("ARC"), Tapirdo Enterprises, LLC, ("Tapirdo") and SGM Capital, LLC, ("SGM") pursuant to which the Transferring Shareholders will transfer (1) 3,000,000 shares of PBOF's common stock to ARC, (2) 2,000,000 shares of PBOF's common stock to Tapirdo and (3) 1,000,000 shares of PBOF's common stock to SGM (collectively, the "Shares"), upon the completion by PBOF of a financing of no less than $7.5 million by June 30, 2007. On August 30, 2007, PBOF, the Transferring Shareholders, ARC Tapirdo, SGM, and US Bank National Association (the "Escrow Agent") entered into an amendment to the escrow agreement, entered into on June 22, 2007, pursuant to which the Transferring Shareholders will transfer the Shares upon the Company entering into a financing transaction, as referred above, on or before October 31, 2007. On September 12, 2007, PBOF closed a $30.0 million financing entitling ARC, Tapirdo and SGM to their respective portions of 60% of the Shares. Out of the Shares to be transferred by the Transferring Shareholders, Mr. Goyzueta has instructed the Escrow Agent to transfer 2,400,000 shares of common stock accordingly.