INFINITY ENERGY RESOURCES, INC 4
4 · INFINITY ENERGY RESOURCES, INC · Filed Dec 31, 2013
Insider Transaction Report
Form 4
Amegy Bank National Association /GFN
10% Owner
Transactions
- Sale
Series A Preferred Stock
2013-12-30−130,000→ 0 totalExercise: $0.07From: 2013-01-01→ Common Stock (2,000,000 underlying) - Purchase
Common Stock
2013-12-30+3,591,250→ 5,591,250 total
Footnotes (3)
- [F1]On December 30, 2013, pursuant to a Stock Exchange Agreement dated December 13, 2013, by and between the Reporting Person and the Issuer, the Issuer issued and transferred 3,591,250 shares of Common Stock to the Reporting Person, 3,250,000 of which were in exchange for the 130,000 shares of Series A Preferred Stock then owned by the Reporting Person and 341,250 of which were in lieu of and as settlement for $1,365,000 of accrued and unpaid dividends then owing to the Reporting Person in respect of such Series A Preferred Stock. The shares of Common Stock issued by the Issuer in this transaction were valued at $4.00 per share. The shares of Series A Preferred Stock exchanged by the Reporting Person in this transaction were valued at $100.00 per share.
- [F2]The Series A Preferred Stock was convertible initially at a price of $0.065 per share of Common Stock (the Series A Preferred Stock was acquired by the Reporting Person at $100.00 per share and has an initial conversion price of $6.50 per share). The conversion price is subject to certain anti-dilution and conversion price adjustment rights set forth in the Issuer's certificate of incorporation.
- [F3]The Series A Preferred Stock had no expiration date.