Moretti John M 4
4 · DAYSTAR TECHNOLOGIES INC · Filed Jan 27, 2012
Insider Transaction Report
Form 4
Moretti John M
10% Owner
Transactions
- Purchase
Convertible Note
2012-01-25$0.25/sh+900,000$225,000→ 900,000 totalExercise: $0.25From: 2012-01-25Exp: 2014-01-24→ Common Stock (900,000 underlying) - Purchase
Warrant
2012-01-25$0.40/sh+1,350,000$540,000→ 1,350,000 totalExercise: $0.40From: 2012-01-25Exp: 2014-01-24→ Common Stock (1,350,000 underlying)
Footnotes (1)
- [F1]On January 25, 2012, Mr. Moretti entered into a Securities Purchase Agreement, pursuant to which he agreed to loan the Company money (the "Loan") for working capital purposes. In connection with the Loan, the Company issued Mr. Moretti a secured promissory note (the "Note") and a warrant to purchase shares of the Company's common stock. The exercise price of the Warrant is $0.40 per share during the first six months, $0.45 per share during months seven through twelve and $0.50 per share beginning month thirteen and through the expiration of the Warrant. The Note is convertible into shares of common stock based on a conversion price of $0.25 per share.