4//SEC Filing
Iveda Solutions, Inc. 4
Accession 0001144204-14-073458
$IVDACIK 0001397183operating
Filed
Dec 10, 7:00 PM ET
Accepted
Dec 11, 4:53 PM ET
Size
17.2 KB
Accession
0001144204-14-073458
Insider Transaction Report
Form 4
Kuo Alex
See remarks
Transactions
- Purchase
Series A Preferred Stock
2014-12-09+38,000→ 38,000 total(indirect: See Footnote)Exercise: $1.00From: 2014-12-09→ Common Stock (38,000 underlying) - Expiration (Short)
Warrant to purchase Common Stock
2014-05-30−3,455→ 0 total(indirect: See Footnote)Exercise: $1.65From: 2014-05-30Exp: 2019-05-30→ Common Stock (3,455 underlying) - Expiration (Short)
9.5% Senior Convertible Debenture
2014-12-09−25,333→ 0 total(indirect: See Footnote)Exercise: $1.50From: 2014-05-30Exp: 2017-05-30→ Common Stock (25,333 underlying) - Purchase
Warrant to purchase Common Stock
2014-12-09+2,303→ 2,303 total(indirect: See Footnote)Exercise: $1.00From: 2014-12-09Exp: 2019-12-09→ Common Stock (2,303 underlying) - Purchase
Warrant to purchase Common Stock
2014-12-09+3,455→ 5,758 total(indirect: See Footnote)Exercise: $1.00From: 2014-12-09Exp: 2019-05-30→ Common Stock (3,455 underlying)
Footnotes (5)
- [F1]On May 30, 2014, Vannogate Consulting Ltd. purchased a 9.5% Senior Convertible Debenture (the "Debenture") in the principal amount of $38,000. The Debenture was originally due and payable three years after the date of issuance and the principal and unpaid interest thereunder was convertible into shares of Common Stock of the issuer ("Common Stock") at the election of the holder any time prior to the maturity date at a conversion price equal to $1.50 per share, subject to adjustment upon the occurrence of certain events as provided in the Debenture. (continue with footnote 2)
- [F2]The terms of the Debenture were subsequently amended effective on December 1, 2014 (the "Debenture Amendment"), and as a result of such amendment, on December 9, 2014, the outstanding principal amount of $38,000 was converted into shares of Series A Preferred stock of the issuer ("Series A Preferred") at a conversion price equal to $1.00 per share. The Series A Preferred receive an automatically accruing dividend at a rate of 9.5% per annum and are convertible into shares of Common Stock at the election of the holder at any time, or automatically on June 30, 2017, at a conversion ratio of one share of Common Stock for one share of Series A Preferred, subject to adjustment upon the occurrence of certain events as provided in the Articles of Incorporation of the Company.
- [F3]The securities are held by Vannogate Consulting Ltd. The reporting person together with members of his immediate family own 100% of Vannogate Consulting Ltd.
- [F4]In connection with the Debenture Amendment, Vannogate Consulting Ltd. received a warrant to purchase 2,303 shares of Common Stock. The warrant has a term of five years from date of issuance and the exercise price is subject to adjustment upon the occurrence of certain events as provided in the warrant.
- [F5]In connection with the Debenture Amendment, the exercise price of an outstanding warrant to purchase 3,455 shares of Common Stock held by Vannogate Consulting Ltd. was reduced from $1.65 to $1.00 per share. The warrant has a term of five years from date of issuance and the exercise price is subject to adjustment upon the occurrence of certain events as provided in the warrant.
Documents
Issuer
Iveda Solutions, Inc.
CIK 0001397183
Entity typeoperating
IncorporatedNV
Related Parties
1- filerCIK 0001397183
Filing Metadata
- Form type
- 4
- Filed
- Dec 10, 7:00 PM ET
- Accepted
- Dec 11, 4:53 PM ET
- Size
- 17.2 KB