Passen Selvin 4
4 · NEW WORLD BRANDS INC · Filed Oct 13, 2006
Insider Transaction Report
Form 4
NEW WORLD BRANDS INCNWBD:OB
Passen Selvin
Director10% Owner
Transactions
- Purchase
Common Stock, par value $.01 per share
2006-08-28$1500000.00/sh+7,500,000$11,250,000,000,000→ 19,250,000 total(indirect: See Footnote) - Award
Employee Stock Option
2006-09-14+1,000,000→ 1,750,000 totalExercise: $0.18From: 2006-09-14Exp: 2011-10-15→ Common Stock (1,000,000 underlying)
Footnotes (3)
- [F1]Includes (i) 10,000,000 shares of Common Stock held by Dr. Passen and his wife, Sylvia Passen, as tenants by the entirety; (ii) 750,000 shares of Common Stock subject to currently exercisable warrants; (iii) 1,000,000 shares subject to currently exercisable options; and (iv) 7,500,000 shares of Common Stock held by Oregon Spirit, LLC, as described in Footnote 2 herein.
- [F2]The shares of Common Stock reported herein were acquired by Oregon Spirit, LLC, a Nevada limited liability company. Passen Enterprises, LLC owns 100% of the membership interests in Oregon Spirit, LLC. There are several members of this entity but Selvin Passen is the managing member. As a result, Selvin Passen could be deemed to beneficially own these 7,500,000 shares of Common Stock.
- [F3]Includes (i) 750,000 shares of Common Stock subject to currently exercisable warrants; and (ii) 1,000,000 shares subject to currently exercisable options.