ROSENE ROBERT B JR 4

4 · GREYSTONE LOGISTICS, INC. · Filed Aug 30, 2005

Form 4

Period: 2004-11-30

Director10% Owner

Transactions

Other
Warrants (right to buy)
2004-11-30+372,947→ 372,947 total
From: 2004-11-30Exp: 2009-11-30→ Common Stock (372,947 underlying)
Other
Warrants (right to buy)
2005-03-08+1,500,000→ 1,500,000 total
Exercise: $0.50From: 2005-03-08Exp: 2010-03-08→ Common Stock (1,500,000 underlying)
Purchase
Series 2003 Cumulative Convertible Senior Preferred Stock
2005-03-04$100.00/sh+50,000$5,000,000→ 50,000 total(indirect: By LLC)
Exercise: $1.50From: 2005-03-04→ Common Stock (3,333,333 underlying)
Other
Common Stock
2004-11-30$0.35/sh+2,770,951$969,833→ 2,770,951 total

Holdings

Footnotes (7)

[F1]Shares, and warrants to acquire 372,947 shares of common stock, issued through a private offering by Issuer in exchange for cancellation of debt and accrued interest owed by Issuer to the Reporting Person in the amount of $969,833, using a conversion rate of $0.35 per share.
[F2]The exercise prices of the warrants are as follows: 146,390 warrants at $0.6625; 121,992 warrants at $0.7950; and 104,565 warrants at $0.9275.
[F3]The warrants expire on the earlier to occur of (i) November 30, 2009, or (ii) 180 days after any consecutive 30-day period during which the closing bid price of the Issuer's shares exceeds the exercise price for any of the warrants.
[F4]The warrants were acquired through a private offering by the Issuer of up to 9,428,571 shares of its common stock, and warrants to purchase up to 1,269,002 shares of common stock, at a purchase price of $0.35 per share. No separate consideration was allocated to the warrants.
[F5]Not applicable.
[F6]The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all the reported securities for purposes of Section 16 or for any other purpose.
[F7]Warrants received in consideration of the Reporting Person's Pledge and Security Agreement and Limited Guaranty of a $2,500,000 Term Loan to the Issuer.

Documents

1 file