MOT JACQUES 4
4 · Plastinum Polymer Technologies Corp. · Filed Jan 18, 2011
Insider Transaction Report
Form 4
MOT JACQUES
DirectorPresident and CEO10% Owner
Transactions
- Other
Convertible Promissory Note
2011-01-13−1→ 0 totalExercise: $2.50→ Series C Convertible Preferred Stock (108,913.97 underlying) - Other
Series C Convertible Preferred Stock
2011-01-13$2.50/sh+108,913.97$272,285→ 108,913.97 totalExercise: $0.03→ Common Stock (10,891,397 underlying)
Footnotes (4)
- [F1]Pursuant to the terms of an Investment Agreement entered into on January 5, 2011 among the Issuer, the Reporting Person, PPT Holding, B.V., a subsidiary of the Issuer, and certain other parties, on January 13, 2011, the Reporting Person converted a Convertible Promissory Note of the Issuer he owned, in the principal amount of $200,000, plus all accrued but unpaid interest thereon in the amount of $72,285, for a total aggregate value of $272,285, into 108,913.97 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.