4//SEC Filing
STANFORD INTERNATIONAL BANK LTD 4
Accession 0001181431-11-021441
CIK 0001352819other
Filed
Mar 31, 8:00 PM ET
Accepted
Apr 1, 8:41 PM ET
Size
13.3 KB
Accession
0001181431-11-021441
Insider Transaction Report
Form 4
ELANDIA INTERNATIONAL INC.ELAN.OB
STANFORD INTERNATIONAL BANK LTD
10% Owner
Transactions
- Conversion
Common Stock
2011-03-30+1,801,704→ 14,166,117 total - Disposition to Issuer
Common Stock
2011-03-30−1,801,704→ 12,364,377 total - Deposit Into/Withdrawal From Voting Trust
Common Stock
2011-03-30+12,364,377→ 12,364,377 total - Conversion
Series B Convertible Preferred Stock
2011-03-30−4,118,263→ 0 totalExercise: $0.00→ Common Stock (1,801,704 underlying) - Deposit Into/Withdrawal From Voting Trust
Series B Convertible Preferred Stock
2011-03-30+4,118,263→ 4,118,263 totalExercise: $0.00→ Common Stock (1,801,704 underlying)
Footnotes (4)
- [F1]On March 30, 2011, eLandia International, Inc., a Delaware corporation ("eLandia"), Ralph S. Janvey as Receiver for the assets of SIBL, and Pete R. Pizarro as Trustee, entered into an agreement to terminate the Voting Trust Agreement, dated February 6, 2009, as amended, thereby releasing 12,364,377 shares of eLandia Common Stock and 4,118,263 shares of Series B Convertible Preferred Stock.
- [F2]Pursuant to the terms of that certain Additional Modification Agreement (the "Additional Modification Agreement") dated as of February 6, 2009, by and between eLandia and SIBL, effective March 30, 2011, 4,118,263 shares of Series B Convertible Preferred Stock with a stated value of $6.75 per share held by SIBL were converted into 1,801,704 shares of eLandia Common Stock without the payment of any additional consideration by SIBL.
- [F3]Pursuant to the terms of the Additional Modification Agreement, SIBL agreed to surrender to eLandia for cancellation 1,801,704 shares of eLandia Common Stock, without the payment of any additional consideration.
- [F4]Shares of eLandia's Series B Convertible Preferred Stock are convertible into shares of eLandia's Common Stock at the ratio of 3.5 shares of Common Stock for each eight shares of Series B Convertible Preferred Stock. Each share is convertible as long as such share is outstanding and has no expiration date.
Documents
Issuer
ELANDIA INTERNATIONAL INC.
CIK 0001352819
Entity typeother
Related Parties
1- filerCIK 0001073171
Filing Metadata
- Form type
- 4
- Filed
- Mar 31, 8:00 PM ET
- Accepted
- Apr 1, 8:41 PM ET
- Size
- 13.3 KB