Driftwood Ventures, Inc. 4
4 · Driftwood Ventures, Inc. · Filed Nov 3, 2008
Insider Transaction Report
Form 4
Driftwood Ventures, Inc.DFTW.OB
Wolf Jay
DirectorSecretary
Transactions
- Exercise of In-Money
Common Stock
2008-10-30$4545.45/sh+454,545$2,066,111,570→ 9,551,908 total(indirect: See footnote) - Purchase
Warrant
2008-09-26+454,545→ 454,545 total(indirect: See footnote)Exercise: $0.01From: 2008-09-26Exp: 2013-09-26→ Common Stock (454,545 underlying) - Exercise of In-Money
Warrant
2008-10-30−454,545→ 0 total(indirect: See footnote)Exercise: $0.01From: 2008-09-26Exp: 2013-09-26→ Common Stock (454,545 underlying)
Holdings
- 125,000
Common Stock
Footnotes (2)
- [F1]These shares are held directly by Trinad Capital Master Fund, Ltd., of which Trinad Management, LLC is the manager. Jay Wolf is the managing director of Trinad Management, LLC and managing director of Trinad Advisors II, LLC, the general partner of Trinad Capital, LP, a principal stockholder of Trinad Capital Master Fund, Ltd. 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.
- [F2]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 September 26, 2008, as inducement to purchase the notes referenced therein.