Kinsey E Wayne 4
4 · INTEGRATED ENVIRONMENTAL TECHNOLOGIES, LTD. · Filed Aug 23, 2012
Insider Transaction Report
Form 4
Kinsey E Wayne
Director
Transactions
- Purchase
Common Stock, par value $.001 per share
2012-08-17+6,250,000→ 47,442,128 total - Purchase
Warrant (Right to Buy)
2012-08-17+3,125,000→ 3,125,000 totalExercise: $0.20From: 2012-08-17Exp: 2015-08-17→ Common Stock, $.001 par value (3,125,000 underlying) - Conversion
8% Convertible Debenture
2012-08-17→ 0 totalExercise: $0.10Exp: 2014-07-07→ Common Stock, $.001 par value - Conversion
8% Convertible Secured Promissory Note
2012-08-17→ 0 totalExercise: $0.10Exp: 2014-09-23→ Common Stock, $.001 par value - Conversion
Common Stock, par value $.001 per share
2012-08-17+1,693,895→ 36,711,395 total - Conversion
Common Stock, par value $.001 per share
2012-08-17+4,480,733→ 41,192,128 total
Footnotes (4)
- [F1]Mr. Kinsey elected to convert the entire principal amount ($150,000) of the 8% convertible debenture issued to him on July 7, 2011 (the "Convertible Debenture") into 1,500,000 shares of common stock at a conversion price of $0.10 per share, pursuant to the terms of the Convertible Debenture. In addition, the Company issued 193,895 shares of common stock (171,429 shares at $0.07 per share and 22,466 shares at $0.06 per share) to Mr. Kinsey as payment of $13,348 of accrued interest due on the Convertible Debenture, pursuant to the terms of the Convertible Debenture.
- [F2]Mr. Kinsey elected to convert the entire principal amount ($400,000) of the 8% secured promissory note issued to him on September 23, 2011 (the "Secured Note") into 4,000,000 shares of common stock at a conversion price of $0.10 per share, pursuant to the terms of the Secured Note. In addition, the Company issued 480,733 shares of common stock ($0.06 per share) to Mr. Kinsey as payment of $28,844 of accrued interest due on the Secured Note, pursuant to the terms of the Secured Note.
- [F3]Mr. Kinsey purchased common stock units that in aggregate consisted of 6,250,000 shares of common stock and a warrant to purchase 3,125,000 shares of common stock for an aggregate purchase price of $500,000. The warrant has a three year term, is exercisable at $0.20 per share and was fully vested at the date of issuance.
- [F4]Each of the Convertible Debenture and the Secured Note was convertible at any time after issuance to Mr. Kinsey on July 7, 2011 and September 23, 2011, respectively.