QORUS COM INC 4
4 · QORUS COM INC · Filed Jun 20, 2006
Insider Transaction Report
Form 4
QORUS COM INCQRUS
Kall Richard
DirectorChief Executive Officer10% Owner
Transactions
- Other
Series A Convertible Preferred Stock
2006-06-15+41,674→ 41,674 total(indirect: By Spouse)→ Common Stock - Other
Series A Convertible Preferred Stock
2006-06-15+395,397→ 395,397 total(indirect: By Trust)→ Common Stock
Footnotes (2)
- [F1]The Richard Kall Family Trust obtained the securities pursuant to the closing of transactions contemplated under an Exchange Agreement dated May 23, 2006. The securities are convertible at a rate of 1,024.340735 shares of common stock for each share of preferred stock, or an aggregate of 412,138,400 shares of common stock (pre reverse-split), automatically upon the filing and acceptance of an amendment to the Issuer's Articles of Incorporation increasing the authorized number of shares of common stock and effecting a 1-for-50 reverse stock split of the common stock. Upon the effectiveness of the reverse split the securities shall be convertible into 8,242,768 shares of common stock. As the Trustee of The Richard Kall Family Trust the Reporting Person may be deemed to beneficially own such shares, but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- [F2]The Reporting Person's Spouse obtained the securities pursuant to the closing of transactions contemplated under an Exchange Agreement dated May 23, 2006. The securities are convertible at a rate of 1,024.340735 shares of common stock for each share of preferred stock, or an aggregate of 43,438,508 shares of common stock (pre reverse-split), automatically upon the filing and acceptance of an amendment to the Issuer's Articles of Incorporation increasing the authorized number of shares of common stock and effecting a 1-for-50 reverse stock split of the common stock. Upon the effectiveness of the reverse split the securities shall be convertible into 868,771 shares of common stock. The Reporting Person may be deemed to beneficially own shares held by his spouse, but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.