WAGGONER J VIRGIL 4
4 · GULFWEST ENERGY INC · Filed Mar 3, 2005
Insider Transaction Report
Form 4
WAGGONER J VIRGIL
10% Owner
Transactions
- Other
Series A Cumulative Exchangeable Preferred Stock
2005-02-28−3,000→ 0 totalExercise: $0.35From: 2005-03-02→ Common Stock (4,285,714 underlying) - Other
Series H Convertible Preferred Stock
2005-02-28+3,000→ 4,285,714 totalExercise: $0.35From: 2005-03-02→ Common Stock (4,285,714 underlying)
Footnotes (4)
- [F1]Series A Cumulative Exchangeable Preferred Stock is issued by GulfWest Oil and Gas Company, a subsidiary of GulfWest Energy Inc.
- [F2]Series A Cumulative Exchangeable Preferred Stock is exchangeable into GulfWest Energy Inc. Common Stock.
- [F3]Pursuant to the Statement of Resolution of the Series A Cumulative Exchangeable Preferred Stock, holders have the option to exchange preferred shares for Series H Convertible Preferred Stock or exchange preferred shares for the common stock of GulfWest Energy Inc. by March 15, 2005, and if the holders do not make such election, each holders' shares will automatically exchange into the common stock of GulfWest Energy Inc. Holder elected to exchange his Series A Cumulative Exchangeable Preferred Stock into Series H Convertible Preferred Stock. The exchange of preferred shares for Series H Convertible Preferred Stock occurred simultaneously and, as a result, the holder did not have a profit from the exchange pursuant to Exchange Act Rule 16b-6(c)(2).
- [F4]The Series H Convertible Exchangeable Preferred Stock does not have an expiration date.