4//SEC Filing
Kanavos Paul 4
Accession 0001209191-10-025476
CIK 0001410402other
Filed
May 4, 8:00 PM ET
Accepted
May 5, 5:01 PM ET
Size
10.7 KB
Accession
0001209191-10-025476
Insider Transaction Report
Form 4
Kanavos Paul
DirectorPresident10% Owner
Transactions
- Award
Common Stock Warrants (right to buy)
2010-05-03+50→ 50 totalExercise: $0.26From: 2010-05-03Exp: 2015-05-03→ Common Stock (572,410 underlying) - Award
Series A Convertible Preferred Stock
2010-05-03+50→ 433 totalExercise: $0.21→ Common Stock
Footnotes (4)
- [F1]The reported securities are included within 50 Units purchased by the Reporting Person and his spouse, Dayssi Olarte de Kanavos, as joint tenants, from the Issuer for $50,000 in a private placement. Each Unit consists of one share of Series A Convertible Preferred Stock and one warrant to purchase up to 11,448.19 shares of common stock at $0.2621 per share.
- [F2]The shares of Series A Convertible Preferred Stock are convertible, at the option of the Reporting Person, into shares of Issuer common stock at the above conversion price if at any time the closing price of the shares of Issuer common stock is at least the conversion price for ten (10) consecutive trading days. Each time, for a period of 60-days thereafter, the shares of Series A Convertible Preferred Stock are convertible into the number of shares of Issuer common stock equal to the then current stated value (initially $1,000, subject to increase periodically to include any accrued and unpaid dividends) divided by the conversion price.
- [F3]Upon the earlier of: (x) consummation of the Issuer's sale (or series of related sales) of its capital stock (or securities convertible into its capital stock) from which the Issuer generates net proceeds of at least $25 million or (y) May 3, 2015 the Series A Convertible Preferred Stock shall automatically convert into the number of shares of Issuer common stock equal to the then current stated value divided by the conversion price. If at any time the closing price of the shares of Issuer common stock is at least $1.74 for fifteen (15) consecutive trading days, the Issuer may redeem the outstanding Series A Convertible Preferred Stock at the then current stated value. The Series A Preferred Shares are redeemable each time in whole or in part for a period of 120-days thereafter.
- [F4]Reference is made to the Reporting Person's Form 4 dated 2/17/10 for the conversion price, the automatic conversion date and the minimum closing share price for redemption of 33 of the Series A Convertible Preferred Stock reported in this column. Reference is made to the Reporting Person's Form 4 dated 3/5/10 for the conversion price, the automatic conversion date and the minimum closing share price for redemption of 60 of the Series A Convertible Preferred Stock reported in this column. Reference is made to the Reporting Person's Form 4 dated 3/11/10 for the conversion price, the automatic conversion date and the minimum closing share price for redemption of 200 of the Series A Convertible Preferred Stock reported in this column.Reference is made to the Reporting Person's Form 4 dated 4/5/10 for the conversion price, the automatic conversion date and the minimum closing share price for redemption of 90 of the Series A Convertible Preferred Stock reported in this column.
Documents
Issuer
FX Real Estate & Entertainment Inc.
CIK 0001410402
Entity typeother
Related Parties
1- filerCIK 0001373244
Filing Metadata
- Form type
- 4
- Filed
- May 4, 8:00 PM ET
- Accepted
- May 5, 5:01 PM ET
- Size
- 10.7 KB