4/A//SEC Filing
Nakash Avi 4/A
Accession 0001214659-07-000841
CIK 0000351917other
Filed
Apr 18, 8:00 PM ET
Accepted
Apr 19, 4:02 PM ET
Size
6.8 KB
Accession
0001214659-07-000841
Insider Transaction Report
Form 4/AAmended
Nakash Avi
10% Owner
Transactions
- Other
Common Stock
2007-03-26−1,515,700→ 1,000,000 total(indirect: See footnote)
Footnotes (2)
- [F1]As of February 21, 2007, Nakash Energy entered into a Loan Agreement with Henry Schneider, pursuant to which Nakash Energy loaned $4,731,388 to Mr. Schneider (the "Loan"). In order to induce Nakash Energy to enter into the Loan Agreement, Mr. Schneider entered into a Pledge Agreement with Nakash Energy, pursuant to which he pledged 1,575,700 shares of his Common Stock of the Issuer (the "Pledged Shares") as collateral security for his obligation to repay the Loan. Pursuant to the Loan Agreement, Nakash Energy was granted the right to vote the Pledged Shares so long as they are held in escrow under the Pledge Agreement. On March 26, 2007, Nakash Energy appointed and granted an unrelated third party an irrevocable proxy to vote the Pledged Shares so long as they are held in escrow under the Pledge Agreement.
- [F2]Nakash Holding, LLC is the Sole Member of Nakash Energy, LLC. The Reporting Person is a Managing Member of Nakash Holding, LLC, and, therefore, may be deemed to be the a beneficial owner of any securities of the Issuer ("Securities") which are held by Nakash Energy, LLC, by virtue of his voting and/or investment control over such Securities. The Reporting Person disclaims any beneficial ownership of any such Securities, except for his pecuniary interest therein.
Documents
Issuer
U S ENERGY SYSTEMS INC
CIK 0000351917
Entity typeother
Related Parties
1- filerCIK 0001394383
Filing Metadata
- Form type
- 4/A
- Filed
- Apr 18, 8:00 PM ET
- Accepted
- Apr 19, 4:02 PM ET
- Size
- 6.8 KB