LI ALEX 4
4 · Nova Lifestyle, Inc. · Filed Jul 1, 2011
Insider Transaction Report
Form 4
LI ALEX
DirectorPresident & CEO10% Owner
Transactions
- Other
Common Stock, par value $.001 per share
2011-06-30$0.01/sh−10,000,000$80,000→ 0 total
Footnotes (1)
- [F1]Pursuant to the terms of a Return to Treasury Agreement,dated June 30, 2011, by and between the Issuer and the Reporting Person, the Issuer's former Chief Executive Officer and Director, the Reporting Person returned 10,000,000 shares of common stock of the Issuer to the Issuer for cancellation. The Reporting person received an unsecured 90-day promissory note of $80,000 bearing interest at 0.46% per annum in exchange for his shares of common stock. The amount of shares returned for cancellation by the Reporting Person reflects the Issuer's 5-for-1 forward stock split effective June 27, 2011.