xG TECHNOLOGY, INC. 4
4 · xG TECHNOLOGY, INC. · Filed Feb 27, 2015
Insider Transaction Report
Form 4
MB Technology Holdings, LLC
10% Owner
Transactions
- Other
Common Stock
2015-02-24$0.46/sh+2,400,222$1,104,102→ 8,655,322 total - Other
Common Stock
2015-02-24$0.46/sh+1,590,909$731,818→ 10,246,231 total
Footnotes (2)
- [F1]For services rendered and loans outstanding, the Registrant, prior to this transaction, was indebted to MB Technology Holdings, LLC ("MBTH") in the amount of $1,839,239.04. The Registrant and MBTH agreed, as of the date of this transaction, that payment of $1,106,098.00 of the outstanding debt owed by the Registrant to MBTH would be made in a number of shares of common stock of the Registrant of value equal to this portion of the total outstanding debt.
- [F2]For services rendered and loans outstanding, in contemplation of the transaction referenced by footnote (1) above, prior to this transaction, the Registrant remained indebted to MBTH in the amount of $733,141.04. The Registrant and MBTH agreed, as of the date of this transaction, that payment of the balance of this remaining outstanding debt would be made in a number of shares of common stock of the Registrant of value equal to the remaining balance of the outstanding debt.