4//SEC Filing
Eos Petro, Inc. 4
Accession 0001144204-13-040416
CIK 0001419583operating
Filed
Jul 21, 8:00 PM ET
Accepted
Jul 22, 1:06 PM ET
Size
10.6 KB
Accession
0001144204-13-040416
Insider Transaction Report
Form 4
Eos Petro, Inc.EOPT
Mitola John P
DirectorCorporate Secretary
Transactions
- Conversion
Options to acquire common stock
2013-07-01−50,000→ 50,000 total(indirect: By LLC)→ Common Stock (50,000 underlying) - Conversion
Common Stock
2013-07-01+50,000→ 150,000 total(indirect: By LLC)
Holdings
- 50,000(indirect: By LLC)
Options to acquire common stock
→ Common Stock (50,000 underlying)
Footnotes (3)
- [F1]On July 1, 2012, Quantum Advisors, LLC ("Quantum"), of which John Mitola is the managing member, entered into a Services Agreement (the "Agreement") with a wholly-owned subsidiary of Eos Petro, Inc. ("Eos"), in order to provide consulting services to Eos and its subsidiaries. Pursuant to the Agreement, Quantum was granted an option to acquire 200,000 shares of common stock of Eos (the "Option").
- [F2]None of the shares in the Option have an exercise price or expiration date. Instead, 50,000 shares in the Option vest and automatically convert into shares of common stock of Eos on each of the following dates, so long as the Agreement is still in effect on each such date: (i) July 1, 2012; (ii) December 31, 2012; (iii) July 1, 2013; and (iv) December 31, 2013. If the Agreement is terminated, any part of the Option that has not yet vested by the date of termination will expire. As of July 1, 2013, the Agreement is still in full force and effect, and Quantum has acquired all 150,000 shares of common stock that have vested and automatically converted from the Option through July 1, 2013.
- [F3]When first issued, the Option was to acquire 200,000 shares of common stock of Eos Global Petro, Inc., a wholly-owned subsidiary of Eos (the "Subsidiary"). The Option was converted into an option to acquire 200,000 shares of Series B Preferred Stock of Eos on October 12, 2012 in connection with the merger of Eos and the Subsidiary. The Option was again converted on May 20, 2013 into an option to acquire 200,000 shares of common stock of Eos (the "Option" described in footnote one above) after Eos filed an amendment to its articles of incorporation which triggered the automatic conversion of all shares of Eos' Series B Preferred Stock into shares of common stock. Any shares of common stock of the Subsidiary, as well as any shares of Series B Preferred Stock of Eos, that were issued to Quantum from the Option prior to May 20, 2013 have likewise been converted into an equal number of shares of Eos' common stock.
Documents
Issuer
Eos Petro, Inc.
CIK 0001419583
Entity typeoperating
IncorporatedNV
Related Parties
1- filerCIK 0001419583
Filing Metadata
- Form type
- 4
- Filed
- Jul 21, 8:00 PM ET
- Accepted
- Jul 22, 1:06 PM ET
- Size
- 10.6 KB