ADELSTEIN STEVEN 4/A
4/A · MEDIANET GROUP TECHNOLOGIES INC · Filed Aug 5, 2004
Insider Transaction Report
Form 4/AAmended
ADELSTEIN STEVEN
Director
Transactions
- Other
Common Stock
2004-06-30−440,000→ 775,000 total - Other
Common Stock
2004-06-30$0.93/sh+750,000$695,025→ 1,215,000 total
Holdings
- 220,000(indirect: AUW, Inc.)
Common Stock
Footnotes (2)
- [F1]750,000 shares were acquired pursuant to the conversion of a promissory note (the Note), of which the Reporting Person is acting as the Holder of the Note, which includes other beneficiaries. Of the 750,000 shares, the Reporting Person acquired 310,000 shares net. The principal amount of the note, $675,000, and the accrued, unpaid interest through June 30, 2004 amounting to $20,000, aggregating a total debt of $695,000 was converted into 750,000 shares of common stock pursuant to the terms of the Note.
- [F2]440,000 shares were disposed of pursuant to the terms of the Note, whereby the Reporting Person is acting as the Holder of the Note to collect the proceeds of the Note and to make the proper distributions to other beneficiaries.