TAYLOR LESTER E JR 4

4 · US DRY CLEANING CORP · Filed Oct 12, 2010

Form 4

Period: 2008-06-26

10% Owner

Transactions

Purchase
Convertible Promissory Note
2008-06-26→ 20,158,099 total(indirect: By Setal 4)
Exercise: $0.75From: 2008-06-26→ Common Stock (3,378,200 underlying)
Other
Warrants
2008-06-26+500,000→ 20,158,099 total(indirect: By Setal 5)
Exercise: $0.75From: 2008-06-26Exp: 2013-06-26→ Common Stock (500,000 underlying)
Other
Warrants
2008-06-26+666,667→ 20,158,099 total(indirect: By Setal 4)
Exercise: $0.75From: 2008-06-26Exp: 2013-06-26→ Common Stock (666,667 underlying)
Purchase
Convertible Promissory Note
2008-06-26→ 20,158,099 total(indirect: By Setal 5)
Exercise: $0.75From: 2008-06-26→ Common Stock (2,294,250 underlying)

Footnotes (7)

[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 4, LLC ("Setal 4") and Setal 5, LLC ("Setal 5"), Lester Taylor is deemed to beneficially own the securities beneficially owned by the Setal4 and Setal 5.
[F3]Based on the outstanding balance of the convertible note eligible for conversion as of June 26, 2008.
[F4]Price of derivative equal to monies loaned pursuant to the convertible note.
[F5]The Warrants issued to Setal 4 are in connection with the $2,540,000 loan to Issuer by Setal 4.
[F6]The Warrants issued to Setal 5 are in connection with the $1,725,000 loan to Issuer by Setal 5.
[F7]N/A

Documents

1 file