Garfield Jon 4
4 · CLEARANT INC · Filed Oct 2, 2007
Insider Transaction Report
Form 4
CLEARANT INCCLRA
Garfield Jon
Chief Financial Officer
Transactions
- Other
Common stock
2007-08-23$0.01/sh+571,428$2,857→ 714,286 total
Footnotes (1)
- [F1]The stock purchase agreement between the Company and the reporting person, pursuant to which the reporting person purchased shares at $0.025, provided the reporting person with full ratchet antidilution protection for subsequent sales of common stock at a price lower than that paid by the reporting person. The antidilution provision was triggered by a subsequent sale of common stock on August 3, 2007 at a price of $0.005. As a result, the reporting person's investments were re-valued and the reporting person was issued that number of additional shares, which when added to the originally purchased shares reflect a purchase price of $0.005 per share.