Pegasi Energy Resources Corporation. 4
4 · Pegasi Energy Resources Corporation. · Filed Jan 20, 2015
Insider Transaction Report
Form 4
Neufeld Michael H
DirectorChief Executive Officer10% Owner
Transactions
- Purchase
Convertible Note
2015-01-09$100000.00/sh+100,000$10,000,000,000→ 100,000 total(indirect: By Teton, Ltd.)Exercise: $0.12From: 2015-01-09→ Common Stock (833,333 underlying) - Purchase
Warrants
2015-01-09+277,778→ 277,778 total(indirect: By Teton, Ltd.)Exercise: $0.13From: 2015-01-09Exp: 2022-01-09→ Common Stock (277,778 underlying)
Footnotes (5)
- [F1]The conversion price underlying the convertible note shall be equal to the lower of (i) $0.12 or (ii) the higher of (x) $0.05 or (y) the VWAP on the trading day immediately preceding the conversion date, subject to adjustment.
- [F2]Investor holding a majority in interest of the outstanding notes may demand a full payment of the note, provided that such demand cannot be made prior to January 9, 2016.
- [F3]The number of shares is based on the current conversion price. The reporting person may not convert the note if such conversion would result in the reporting person or any of its affiliates would beneficially own more than 4.99% of Common Stock.
- [F4]The exercise price underlying the warrant shall be the lower of (i) $0.132 or (ii) the higher of (x) $0.06 or (y) 110% of the VWAP on the trading day immediately preceding the date of the exercise notice, subject to adjustment.
- [F5]The reporting person may not exercise the warrant if such exercise would result in the reporting person or any of its affiliates would beneficially own more than 4.99% of Common Stock.