Steckel William 5
5 · DAYSTAR TECHNOLOGIES INC · Filed Feb 14, 2011
Insider Transaction Report
Form 5
Steckel William
Chief Financial Officer
Transactions
- Purchase
Convertible Promissory Note
2010-04-06$30000.00/sh+33,333$999,990,000→ 33,333 totalExercise: $0.90From: 2011-01-22→ Common Stock (33,333 underlying) - Purchase
Warrant
2010-04-06$1.25/sh+11,112$13,890→ 11,112 totalExercise: $1.25From: 2010-10-06Exp: 2017-04-05→ Common Stock (11,112 underlying)
Footnotes (2)
- [F1]On April 6, 2010, Mr.Steckel and the Company entered into a Purchase Agreement, under which Mr.Steckel agreed to loan the Company money (the "Loan") to fund ongoing research and development and related business operations. In connection with the Loan, the Company issued Mr. Steckel a secured convertible promissory note in the principal amount of $30,000 and a warrant to purchase shares 11,112 of the Company's common stock. On July 22, 2010, Mr. Steckel and the Company amended the Note's maturity date to January 22, 2011 and lowered the original conversion price of $2.70 per share (post reverse split basis) to $0.90 per share. On January 14, 2011, Mr. Steckel and the Company entered into an amendment to extend the Note's maturity date to April 22, 2011.
- [F2]This note has no expiration date and may be converted at any time prior to payment.