Frohman Scott 4
4 · Upstream Worldwide, Inc. · Filed Mar 30, 2011
Insider Transaction Report
Form 4
Frohman Scott
Director
Transactions
- Award
Series C Convertible Preferred Stock
2011-03-28+10,000→ 10,000 total→ Common Stock (1,000,000 underlying) - Purchase
Series B Convertible Preferred Stock
2011-02-11+40,000→ 40,000 totalExercise: $0.02→ Common Stock (2,000,000 underlying) - Purchase
Common Stock Warrants (Right to Buy)
2011-02-11+1,000,000→ 1,000,000 totalExercise: $0.06From: 2011-02-11Exp: 2014-02-11→ Common Stock (1,000,000 underlying) - Exercise/Conversion
Common Stock Warrants (Right to Buy)
2011-03-28−1,000,000→ 0 totalExercise: $0.06From: 2011-02-11Exp: 2014-02-11→ Common Stock (1,000,000 underlying)
Footnotes (4)
- [F1]These securities are convertible into the issuer's common stock at any time after the issuer increases its authorized capital. At such time, each share of the Series B Preferred Stock will be convertible into 50 shares of the issuer's common stock. The securities have no expiration date.
- [F2]The securities are included within one Unit purchased by the reporting person for $100,000 per Unit. Each Unit consists of 100,000 shares of Series B Convertible Preferred Stock and 2,500,000 warrants to purchase shares of common stock. The reporting person purchased 0.4 Units.
- [F3]The reporting person exercised the warrants at a reduced price of $0.015 per share of Series C Preferred Stock.
- [F4]The securities automatically convert into the issuer's common stock after the issuer increases its authorized capital. At such time, each share of Series C Preferred Stock will be convertible into 100 shares of the issuer's common stock. The securities have no expiration date.