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TAYLOR LESTER E JR 4

Accession 0001209191-10-049899

CIK 0000920317other
View on SEC.govCompany Profile

Filed

Oct 11, 8:00 PM ET

Accepted

Oct 12, 6:16 AM ET

Size

25.5 KB

Accession

0001209191-10-049899

Insider Transaction Report

Form 4
Period: 2008-03-12
US DRY CLEANING CORPUDRY
TAYLOR DIANE M
10% Owner
Transactions
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Trust)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
  • Purchase

    Convertible Promissory Note

    2008-03-12→ 4,381,994 total(indirect: By Setal 2)
    From: 2008-03-12→ Common Stock (899,250 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Setal 2)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
TAYLOR FAMILY TRUST
10% Owner
Transactions
  • Purchase

    Convertible Promissory Note

    2008-03-12→ 4,381,994 total(indirect: By Setal 2)
    From: 2008-03-12→ Common Stock (899,250 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Trust)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Setal 2)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
Park Place Services
10% Owner
Transactions
  • Purchase

    Convertible Promissory Note

    2008-03-12→ 4,381,994 total(indirect: By Setal 2)
    From: 2008-03-12→ Common Stock (899,250 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Setal 2)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Trust)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
SETAL 2 LLC
10% Owner
Transactions
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Setal 2)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
  • Purchase

    Convertible Promissory Note

    2008-03-12→ 4,381,994 total(indirect: By Setal 2)
    From: 2008-03-12→ Common Stock (899,250 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Trust)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
SETAL 4 LLC
10% Owner
Transactions
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Setal 2)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
  • Purchase

    Convertible Promissory Note

    2008-03-12→ 4,381,994 total(indirect: By Setal 2)
    From: 2008-03-12→ Common Stock (899,250 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Trust)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
Setal 6, LLC
10% Owner
Transactions
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Setal 2)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
  • Purchase

    Convertible Promissory Note

    2008-03-12→ 4,381,994 total(indirect: By Setal 2)
    From: 2008-03-12→ Common Stock (899,250 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Trust)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
TAYLOR LESTER E JR
10% Owner
Transactions
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Trust)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
  • Purchase

    Convertible Promissory Note

    2008-03-12→ 4,381,994 total(indirect: By Setal 2)
    From: 2008-03-12→ Common Stock (899,250 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Setal 2)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
SETAL 3 LLC
10% Owner
Transactions
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Trust)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
  • Purchase

    Convertible Promissory Note

    2008-03-12→ 4,381,994 total(indirect: By Setal 2)
    From: 2008-03-12→ Common Stock (899,250 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Setal 2)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
SETAL 5 LLC
10% Owner
Transactions
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Trust)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
  • Purchase

    Convertible Promissory Note

    2008-03-12→ 4,381,994 total(indirect: By Setal 2)
    From: 2008-03-12→ Common Stock (899,250 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Setal 2)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
SETAL 1 LLC
10% Owner
Transactions
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Trust)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
  • Purchase

    Convertible Promissory Note

    2008-03-12→ 4,381,994 total(indirect: By Setal 2)
    From: 2008-03-12→ Common Stock (899,250 underlying)
  • Other

    Warrants

    2008-03-12+500,000→ 4,381,994 total(indirect: By Setal 2)
    Exercise: $0.75From: 2008-03-12Exp: 2011-03-12→ Common Stock (500,000 underlying)
Footnotes (9)
  • [F1]Each Reporting Person may be deemed to be a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. To enable all of the Reporting Persons to gain access to the Securities and Exchange Commission's electronic filing system (which only accepts a maximum of 10 joint filers per report), this report is the first of two identical reports relating to the same transactions being filed with the Securities and Exchange Commission.
  • [F2]As the sole manager of Setal 2, LLC ("Setal 2"), Lester is deemed to beneficially own the securities beneficially owned by the Setal 2.
  • [F3]As the trustees of the Taylor Family Trust (the "Taylor Trust") Lester E. Taylor, Jr. ("Lester") and Diane M. Taylor ("Diane") are deemed to beneficially own the securities beneficially owned by the Taylor Trust.
  • [F4]The first $1,500,000 of principal and accrued interest under the note is convertible into shares of Common Stock at a conversion price equal to 2.50 and any amount of principal and accrued interest in excess of such amount is convertible into shares of Common Stock at a conversion price equal to 0.75.
  • [F5]Based on the outstanding balance of the convertible note eligible for conversion as of March 12, 2008.
  • [F6]Price of derivative equal to monies loaned pursuant to the convertible note.
  • [F7]The Warrants issued to Setal 2 are in connection with the $1,750,000 loan to the Issuer by Setal 2.
  • [F8]The Warrants issued to the Taylor Trust are in exchange for services provided to the Issuer.
  • [F9]N/A

Documents

1 file

Issuer

US DRY CLEANING CORP

CIK 0000920317

→
Entity typeother

Related Parties

1
  • filerCIK 0001455659

Filing Metadata

Form type
4
Filed
Oct 11, 8:00 PM ET
Accepted
Oct 12, 6:16 AM ET
Size
25.5 KB
View on SEC.gov