Wolf Jay 4
4 · Lateral Media, Inc. · Filed Jun 30, 2009
Insider Transaction Report
Form 4
Lateral Media, Inc.LTLM.OB
Wolf Jay
DirectorSecretary10% Owner
Transactions
- Other
Warrant
2009-06-26+350,000→ 350,000 total(indirect: See footnote)Exercise: $0.01From: 2009-06-26Exp: 2011-06-26→ Common Stock (350,000 underlying)
Footnotes (2)
- [F1]On June 26, 2009, the warrant to purchase common stock (the "Warrant") in this Form 4 was issued by Lateral Media, Inc. (the "Company") to Trinad Capital Master Fund, Ltd. ("Trinad"), in connection with a letter agreement between the Company and Trinad, pursuant to which the parties agreed to convert $350,000 of the current principal plus accrued but unpaid interest outstanding under a loan agreement between the Company and Trinad into the Warrant and a convertible promissory note.
- [F2]The Warrant is held directly by Trinad, of which Trinad Management, LLC is the manager. Jay A. Wolf is a director and officer of the Company, a managing member of Trinad Management LLC and a managing member of Trinad Advisors II, LLC, the general partner of Trinad Capital, LP, a principal stockholder of Trinad. In such capacity, Mr. Wolf may be deemed to be the beneficial owner of the shares of common stock. Mr. Wolf disclaims beneficial ownership of the shares of common stock, except to the extent of any pecuniary interest therein.