ROYALTY MANAGEMENT INC 4
4 · REGENCY AFFILIATES INC · Filed Jul 9, 2003
Insider Transaction Report
Form 4
REGENCY AFFILIATES INCRAFI.OB
No transactions or holdings reported in this filing.
Footnotes (1)
- [F1]This statement is filed by Royalty Holdings LLC ("Holdings"), Royalty Management, Inc. ("Management") and Laurence S. Levy. On July 3, 2003, Holdings converted the full $2,004,098 principal amount (and $71,378 accrued interest thereon) of its 5% Convertible Note of the Issuer into 1,037,738 shares of the Company's Common Stock at an exercise price of $2.00 per share, in accordance with the terms of the Note. Mr. Levy disclaims beneficial ownership of such securities for purposes of Section 16 of the Act to the extent in excess of his pecuniary interest therein. Management does not beneficially own any securities of the Issuer for purposes of Section 16 of the Act.