Martelet Francois R. 4
4 · AVAX TECHNOLOGIES INC · Filed Nov 19, 2008
Insider Transaction Report
Form 4
AVAX TECHNOLOGIES INCAVXT.OB
Martelet Francois R.
DirectorPresident and CEO
Transactions
- Purchase
Convertible Promissory Note
2008-10-24$5000.00/sh+55,555$277,775,000→ 55,555 totalExercise: $0.09From: 2008-10-24→ Common Stock (55,555 underlying) - Purchase
Warrant
2008-10-24+50,000→ 50,000 totalExercise: $0.10From: 2008-10-24Exp: 2013-10-24→ Common Stock (50,000 underlying)
Footnotes (3)
- [F1]The Warrant and Convertible Promissory Note (the "Note") were purchased pursuant to a Convertible Note and Warrant Purchase Agreement, dated as of October 24, 2008, by and between AVAX Technologies, Inc. ("the Company") and certain accredited investors, including Dr. Martelet. The Note is convertible into the Company's common stock, $0.004 par value per share, with a conversion price of $0.09 and bears interest at a rate of 6% per annum.
- [F2]The Note is convertible until it is no longer outstanding.
- [F3]The Warrant was issued as additional consideration for the purchase of the Note.