4//SEC Filing
Carey Michael Douglas 4
Accession 0001214782-12-000155
CIK 0001321516other
Filed
Dec 25, 7:00 PM ET
Accepted
Dec 26, 5:18 PM ET
Size
15.2 KB
Accession
0001214782-12-000155
Insider Transaction Report
Form 4
United American Petroleum Corp.OTCBB:UAPC
Carey Michael Douglas
DirectorCEO, President10% Owner
Transactions
- Other
COMMON STOCK
2012-11-28−500,000→ 7,000,000 total - Other
COMMON STOCK
2012-12-26−5,000,000→ 2,000,000 total - Other
COMMON STOCK
2012-12-26−100,000→ 1,900,000 total - Other
COMMON STOCK
2012-12-26+5,000,000→ 5,000,000 total(indirect: THROUGH CAREY PARTNERS LTD) - Other
RIGHT OF REPURCHASE
2012-11-28+0→ 500,000 totalExercise: $0.00From: 2013-04-01Exp: 2013-04-01→ COMMON STOCK (500,000 underlying) - Other
SERIES B PREFERRED STOCK
2012-12-26+500→ 500 total
Footnotes (5)
- [F1]On November 28, 2012, the Reporting Person agreed to transfer 500,000 shares of the Issuer's common stock which he held to a third party in consideration for the third party dismissing a law suit against the Reporting Person and another officer and Director of the Issuer, which lawsuit was not in connection with and did not affect the Issuer. The transfer of the shares included a right to repurchase (see footnote 5, below).
- [F2]Effective December 26, 2012, the Issuer issued the Reporting Person 500 shares of its Series B Preferred Stock in consideration for services rendered. The Series B Preferred Stock voting together as a class (totaling 1,000 shares) have the right to vote on all shareholder matters (including, but not limited to at every meeting of the stockholders of the Issuer and upon any action taken by stockholders of the Issuer with or without a meeting) equal to fifty-one percent (51%) of the total vote.
- [F3]Effective December 26, 2012, the Reporting Person transferred 5,000,000 shares of the Issuer's common stock to a family limited partnership which the Reporting Person beneficially owned. As such there was no change in beneficial ownership in connection with such transfer.
- [F4]Effective December 26, 2012, the Reporting Person transferred 100,000 shares to a third party to settle a personal debt.
- [F5]The Reporting Person, along with another officer and Director of the Issuer, has the right to repurchase for $0.0001 per share, that number of shares of common stock of the Issuer as equals (a) the total number of shares transferred (1,000,000 shares, including 500,000 transferred by the Reporting Person, see also footnote 1), minus (b) the balance owed on a note payable issued in connection with the settlement of the lawsuit, divided by the closing price of the Issuer's common stock on the Over-The-Counter Bulletin Board on March 29, 2013.
Documents
Issuer
United American Petroleum Corp.
CIK 0001321516
Entity typeother
Related Parties
1- filerCIK 0001508772
Filing Metadata
- Form type
- 4
- Filed
- Dec 25, 7:00 PM ET
- Accepted
- Dec 26, 5:18 PM ET
- Size
- 15.2 KB