5//SEC Filing
VENTURES NATIONAL INC 5
Accession 0001196126-04-000001
CIK 0000770471operating
Filed
Jan 5, 7:00 PM ET
Accepted
Jan 6, 5:42 PM ET
Size
13.5 KB
Accession
0001196126-04-000001
Insider Transaction Report
Form 5
MARKS DAVID M
Director10% Owner
Transactions
- Other
Common Stock
2003-08-19−150,000→ 8,879,352 total(indirect: See footnote) - Award
Common Stock Warrant
2002-12-18+50,000→ 50,000 totalExercise: $1.50From: 2002-12-18Exp: 2007-12-18→ Warrant (50,000 underlying) - Other
Common Stock
2003-11-20−100,000→ 8,879,352 total(indirect: See footnote) - Purchase
Common Stock $0.001 par value ("Common Stock")
2002-12-09+1,229,431→ 8,879,352 total(indirect: See footnote)
Footnotes (5)
- [F1]On December 9, 2002, Ohio Investors of Wisconsin, LLC ("Ohio Investors") received an additional 1,160,764 shares of Common Stock and ICT received an additional 68,667 shares of Common Stock, in each case to reflect a repricing of the conversion price (from $1.50 to $0.75 per share) at which these entities converted certain indebtedness into Common Stock effective August 30, 2002.
- [F2]Includes (i) 8,676,630 shares held by Irrevocable Children's Trust ("ICT"); (ii) 72,232 shares held by Irrevocable Children's Trust2 ("ICT2"); (iii) 123,823 shares held by Phoenix Business Trust ("Phoenix Trust") and (iv) 6,667 shares held by Forest Home Partners I, LLC ("Forest Home"). Mr. Marks is a trustee with sole dispositive power over the shares of Common Stock held by ICT and ICT2. ICT becamse the direct holder of 2,321,296 shares and 668,000 shares upon the distribution on April 15, 2003 of the holdings of Ohio Investors and SVPC Partners, LLC, respectively, each of which entities was formerly controlled by ICT. ICT2 received its shares upon distributions by the same entities, in which it held an interest. These distributions did not impact the net beneficial ownership of Mr. Marks. Each of Phoenix Trust and Forest Home is controlled by ICT.
- [F3]On August 19, 2003, ICT transferred 150,000 shares of Common Stock to Trilogy Capital Partners, Inc. in consideration of consulting services rendered to Issuer. ICT did not receive any consideration for such transfer.
- [F4]On November 20, 2003, ICT transferred 100,000 shares of Common Stock to a third party as a finder's fee in connection with a financing transaction by Issuer. ICT did not receive any consideration for such transfer.
- [F5]Represents options issued to Mr. Marks in compensation for his services as a Director of Issuer.
Documents
Issuer
VENTURES NATIONAL INC
CIK 0000770471
Entity typeoperating
IncorporatedUT
Related Parties
1- filerCIK 0000770471
Filing Metadata
- Form type
- 5
- Filed
- Jan 5, 7:00 PM ET
- Accepted
- Jan 6, 5:42 PM ET
- Size
- 13.5 KB