4//SEC Filing
Dietrich Isaac 4
Accession 0001213900-19-021016
CIK 0001589149other
Filed
Oct 23, 8:00 PM ET
Accepted
Oct 24, 6:39 PM ET
Size
9.2 KB
Accession
0001213900-19-021016
Insider Transaction Report
Form 4
MassRoots, Inc.MSRT
Dietrich Isaac
DirectorChief Executive Officer10% Owner
Transactions
- Other
Series C Convertible Preferred Stock
2019-10-21+1,000→ 1,000 total→ Common Stock (1,000,000 underlying) - Other
Warrants
2019-07-01−173,333→ 0 totalExercise: $0.05→ Common Stock (173,333 underlying)
Footnotes (5)
- [F1]On October 1, 2019, the Reporting Person forfeited the warrants that the Reporting Person received on July 21, 2017.
- [F2]Each share of Series C Convertible Preferred Stock (the "Series C Preferred Stock") shall automatically convert into 1,000 shares of the Issuer's common stock upon the earlier to occur of: (i) the listing the Issuer's securities on a national securities exchange and (ii) a Change in Control (as defined in the Certificate of Designations, Preferences and Rights of the Series C Preferred Stock) of the Issuer. If there is no listing on a national securities exchange and if there is no Change in Control, the Series C Preferred Stock shall not convert into shares of the Issuer's common stock.
- [F3]On July 16, 2019, the Issuer's Board approved the issuance of the Series C Preferred Stock to the Reporting Person for the Reporting Person's service associated with the merger (the "Merger") of MassRoots Supply Chain, Inc., a wholly-owned subsidiary of the Issuer, with and into Cowa Science Corporation ("Cowa"), with Cowa surviving the Merger. The Series C Preferred Stock were to be issued upon closing of the Merger. On October 21, 2019, the Issuer's Board approved the acceleration of the issuance of the Series C Preferred Stock in recognition of the Reporting Peron's service to the Issuer and work associated with the pending Merger.
- [F4]The Series C Preferred Stock is perpetual and therefore has no expiration date.
- [F5]Collectively, the shares of Series C Preferred Stock are entitled to cast such number of votes equal to 40% of the issued and outstanding shares of common stock of the Issuer.
Documents
Issuer
MassRoots, Inc.
CIK 0001589149
Entity typeother
Related Parties
1- filerCIK 0001614904
Filing Metadata
- Form type
- 4
- Filed
- Oct 23, 8:00 PM ET
- Accepted
- Oct 24, 6:39 PM ET
- Size
- 9.2 KB