Driftwood Ventures, Inc. 4
4 · Driftwood Ventures, Inc. · Filed Jul 9, 2008
Insider Transaction Report
Form 4
Driftwood Ventures, Inc.DFTW.OB
Wolf Jay
DirectorSecretary
Transactions
- Purchase
Warrant
2008-07-07+2,272,727→ 2,272,727 total(indirect: See footnote)Exercise: $0.01From: 2008-07-07Exp: 2013-07-07→ Common Stock (2,272,727 underlying) - Purchase
Warrant
2008-07-07+681,818→ 681,818 total(indirect: See footnote)Exercise: $0.01From: 2008-07-07Exp: 2013-07-07→ Common Stock (681,818 underlying)
Footnotes (3)
- [F1]These warrants exercisable into shares of common stock were issued in connection with a certain Note Purchase Agreement between Driftwood Ventures, Inc. and the purchasers signatory thereto dated July 7, 2008, as inducement to purchase the notes referenced therein.
- [F2]Jay Wolf is the managing director of Trinad Management, LLC and managing director of Trinad Advisors GP, LLC. In such capacity, Mr. Wolf may be deemed to be the beneficial owner of these shares of common stock. Mr. Wolf disclaims beneficial ownership of these shares of common stock, except to the extent of any pecuniary interest therein.
- [F3]These warrants exercisable into shares of common stock were issued as partial satisfaction of a termination fee pursuant to a certain Management Agreement between Trinad Management, LLC and Driftwood Ventures, Inc. dated as of October 24, 2007, as subsequently amended on July 7, 2008.