O DONNELL DANIEL M 4
4 · Banks.com, Inc. · Filed Feb 14, 2012
Insider Transaction Report
Form 4
O DONNELL DANIEL M
DirectorChief Executive Officer10% Owner
Transactions
- Purchase
Convertible Promissory Note
2011-12-28$125000.00/sh+3,281,250$410,156,250,000→ 3,281,250 totalExercise: $0.04From: 2012-06-26→ Common Stock (3,281,250 underlying) - Purchase
Common Stock Purchase Warrant
2011-12-28+2,083,333→ 2,083,333 total(indirect: By Trust)Exercise: $0.06From: 2011-12-28Exp: 2016-12-28→ Common Stock (2,083,333 underlying)
Footnotes (5)
- [F1]On December 28, 2011, the Issuer issued a 10% convertible promissory note of $125,000 to Daniel O'Donnell and Kimberly O'Donnell. The Reporting Persons may convert the outstanding principal and accrued but unpaid interest into common stock commencing on or after the Note's maturity date of June 26, 2012 at a conversion price of $0.04 per share. If the Issuer prepays any portion of the Note, the Reporting Persons may convert all or any portion of the Note prior to such repayment.
- [F2]Date that all of the Note's interest and principal is paid in cash to the Reporting Persons.
- [F3]Convertible Promissory Note is held jointly by the Reporting Persons.
- [F4]Warrant was issued by the Issuer in consideration for the loan pursuant to the convertible promissory note.
- [F5]Shares are held by the Daniel Michael O'Donnell and Kimberly Linn O'Donnell AB Living Trust.