4//SEC Filing
iDNA, Inc. 4
Accession 0001144204-08-041968
CIK 0001004981operating
Filed
Jul 24, 8:00 PM ET
Accepted
Jul 25, 5:09 PM ET
Size
8.1 KB
Accession
0001144204-08-041968
Insider Transaction Report
Form 4
iDNA, Inc.IDAI
Transactions
- Other
Common Stock
2008-07-07$0.01/sh−375,000$2,888→ 1,125,000 total
Footnotes (3)
- [F1]On November 21, 2007, Silar Advisors, L.P. a Delaware Partnership ("Silar"), entered into a Master Loan and Security Agreement (the "Loan Agreement") with iDNA Cinemas Holdings Inc., a Delaware Corporation, whereby Silar provided a Term Loan in the amount of $4,250,000 (the "Loan") to the IDNA Holdings and such financing was arranged by Gottbetter Capital Group, Inc. ("Gottbetter"). The Loan was guaranteed by iDNA, Inc., a Delaware Corporation, ("IDNA") and evidenced by a Guaranty And Pledge Agreement, dated as of November 19, 2007 with Silar. In connection therewith IDNA issued to Silar a Common Stock Purchase Warrant to purchase 1,500,000 shares of it's Common Stock par value $0.05 per share, at an exercise price of $0.27 per share which constituted 15.06% of 9,954,614 shares of the total common stock then issued and outstanding of IDNA as of the filing of the 10Q with the SEC on December 14, 2007.
- [F2]Silar received the Common Stock Purchase Warrant on behalf of its on-shore fund, Silar Special Opportunities Fund, L.P. ("Silar Fund"). To compensate Gottbetter for arranging the Loan, Silar and Silar Fund agreed to transfer 375,000 shares or 25% of the 1,500,000 shares of IDNA to Gottbetter, thereby reducing Silar's then aggregate ownership from 15.06% to 11.30%. However the actual transfer of the 375,000 shares or 3.76% of the then issued and outstanding Common Stock of IDNA to Gottbetter was never finalised administratively and no Warrant Certificate and or Stock Certificates representing Gottbetter's 3.76% was ever issued or delivered to Gottbetter.
- [F3]Subsequently, Silar Special Opportunities Fund, Ltd. ("Silar Ltd.")and Gottbetter entered into a Warrant Sale Agreement on May 27, 2008, whereby Silar Ltd. agreed to purchase from Gottbetter, all rights, title and interest of that entire fraction of the original Warrant and or shares comprising 375,000 shares of the then issued and outstanding Common Stock of IDNA. As such per the 10Q filed on June 16, 2008, there were 10,585,864 shares of Common Stock issued and outstanding of IDNA. Hence, with the purchase of the Warrant from Gottbetter, Silar Ltd. will now own, 375,000 shares or 3.54% of IDNA and Gottbetter will no longer own the 375,000 shares of IDNA.
Documents
Issuer
iDNA, Inc.
CIK 0001004981
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001004981
Filing Metadata
- Form type
- 4
- Filed
- Jul 24, 8:00 PM ET
- Accepted
- Jul 25, 5:09 PM ET
- Size
- 8.1 KB