4//SEC Filing
Sorensen Betina 4
Accession 0001144204-10-035186
CIK 0001097792other
Filed
Jun 24, 8:00 PM ET
Accepted
Jun 25, 5:12 PM ET
Size
16.8 KB
Accession
0001144204-10-035186
Insider Transaction Report
Form 4
Sorensen Betina
Head of Marketing10% Owner
Transactions
- Expiration (Short)
Series A Convertible Preferred Stock
2009-12-24−1,221,500→ 0 total(indirect: See Note)→ Common Stock (65,744,762 underlying) - Disposition to Issuer
Series A Convertible Preferred Stock
2010-05-24−278,974→ 942,526 total(indirect: See Note)→ Common Stock (15,266,287 underlying) - Purchase
Series A Convertible Preferred Stock
2009-12-24+1,221,500→ 1,221,500 total(indirect: See Note)→ Common Stock (66,844,112 underlying) - Purchase
Series A Convertible Preferred Stock
2010-05-24+942,526→ 942,526 total(indirect: See Note)→ Common Stock (52,323,917 underlying) - Expiration (Short)
Series A Convertible Preferred Stock
2010-05-24−942,526→ 0 total(indirect: See Note)→ Common Stock (51,577,812 underlying)
Footnotes (5)
- [F1]The shares of Series A Convertible Preferred Stock (the "Preferred Stock") are automatically convertible without additional consideration into shares of Common Stock of MediaNet Group Technologies, Inc. (the "Company") upon the Company's amendment of its Articles of Incorporation to increase the authorized number of shares of its Common Stock to 500 million. The Series A Preferred Stock does not have an expiration date.
- [F2]On December 24, 2009, the rate at which the Preferred Stock was convertible into Common Stock was amended from 53.8229736 shares of Common Stock for each share of Preferred stock (the "Original Conversion Ratio") to 54.7229736 shares of Common Stock for each share of Preferred Stock (the "December 2009 Conversion Ratio"). The amendment is being reported above as the cancellation of the shares of Preferred Stock with the Original Conversion Ratio and the acquisition of new shares of Preferred Stock with the December 2009 Conversion Ratio.
- [F3]As of December 24, 2009, the date of the amendment of the Certificate of Designation to provide for the December 2009 Conversion Ratio, Mr. Michael Hansen, who lives with Ms. Sorensen and may be deemed to be her common-law spouse, had a 24.43% pecuniary interest in the assets of Zen Holding Group Limited ("Zen"). As of such date, Zen held of record 5 million shares of the Preferred Stock. Mr. Hansen has the indirect shared right to vote and make investment decisions with respect to Zen.
- [F4]As of May 24, 2010, Mr. Hansen had a 24.43% pecuniary interest in the assets of Zen. As of such date, Zen transferred to the Company 1,141,933 shares of Preferred Stock and, accordingly, Zen held of record 3,858,067 shares of the Preferred Stock.
- [F5]On May 24, 2010, the rate at which the Preferred Stock was convertible into Common Stock was amended from the December 2009 Conversion Ratio to 55.514574 shares of Common Stock for each share of Preferred Stock (the "May 2010 Conversion Ratio"). The amendment is being reported above as the cancellation of the shares of Preferred Stock with the December 2009 Conversion Ratio and the acquisition of new shares of Preferred Stock with the May 2010 Conversion Ratio.
Documents
Issuer
MEDIANET GROUP TECHNOLOGIES INC
CIK 0001097792
Entity typeother
Related Parties
1- filerCIK 0001495117
Filing Metadata
- Form type
- 4
- Filed
- Jun 24, 8:00 PM ET
- Accepted
- Jun 25, 5:12 PM ET
- Size
- 16.8 KB