Plastinum Polymer Technologies Corp. 4
4 · Plastinum Polymer Technologies Corp. · Filed Jan 18, 2011
Insider Transaction Report
Form 4
SCHRODER & CO BANQUE SA
10% Owner
Transactions
- Other
Series B-1 Convertible Preferred Stock
2011-01-13−38,600→ 0 totalExercise: $2.50→ Series C Convertible Preferred Stock (1,605,570.79 underlying) - Other
Series C Convertible Preferred Stock
2011-01-13$2.50/sh+1,605,590.79$4,013,977→ 1,605,590.79 totalExercise: $0.03→ Common Stock (160,559,079 underlying)
Footnotes (4)
- [F1]On January 13, 2011, the Reporting Person converted 38,600 shares of the Issuer's Series B-1 Convertible Preferred Stock plus $153,977 in accrued but unpaid dividends thereon, for an aggregate value of $4,013,977, into 1,605,570.79 newly issued shares of the Issuer's Series C Convertible Preferred Stock ("Series C Shares") at a conversion price of $2.50 per Series C Share.
- [F2]Immediately.
- [F3]Not applicable.
- [F4]Each Series C Share will be automatically converted into shares of the Company's Common Stock at $.025 per share, or 100 shares of Common Stock per Series C Share, at such time as there are a sufficient number of authorized shares of Common stock available to permit the conversion of all Series C Shares and, until such time, has the same voting, dividend and distribution rights as the number of shares of Common Stock into which it would automatically convert.