Strauss Andrew R. 4
4 · Marine Drive Mobile Corp. · Filed Oct 4, 2011
Insider Transaction Report
Form 4
Strauss Andrew R.
Chief Technical Officer
Transactions
- Other
Common Stock
2011-10-03+500,000→ 500,000 total - Award
Common Stock Purchase Warrant (Right to Buy)
2011-10-03+50,000→ 50,000 totalFrom: 2011-10-03Exp: 2013-10-03→ Common Stock (50,000 underlying)
Footnotes (2)
- [F1]Received in exchange for membership interests of I Like A Deal, LLC, a Nevada limited liability company ("ILAD"), in connection with the acquisition of ILAD's outstanding membership interests by the Issuer through a voluntary exchange with the members of ILAD (the "Selling Members"), pursuant to a Membership Interests Purchase Agreement (the "Agreement"), by and among the Issuer, on the one hand, and ILAD and the Selling Members, on the other hand.
- [F2]The exercise price of the Warrant is as follows: (i) during the period from the Commencement Date of October 3, 2011 through the date one year after the Commencement Date (the "Anniversary Date"), a price per warrant share equal to 60% of the closing price of the Issuer's Common Stock as reported on Nasdaq on October 3, 2011 ("Closing Market Price") and (ii) during the period beginning with the day following the Anniversary Date through the Termination Date of October 3, 2013, a price per warrant share equal to the Closing Market Price, in each case as adjusted from time to time for any stock dividends, combinations, splits, recapitalizations, etc.