DAVI SKIN, INC. 3
3 · DAVI SKIN, INC. · Filed Apr 5, 2010
Insider Transaction Report
Form 3
DAVI SKIN, INC.DAVN
Zenith Global Enterprises Ltd
10% Owner
Holdings
Series A Preferred Stock
Exercise: $0.01→ Common Stock (25,000,000 underlying)
Footnotes (1)
- [F1]Exercisable at any time. No expiration date. The number of shares into which one share of Series A Preferred Stock is convertible is determined by dividing the Original Issue Price of $1.00 per share by $0.01, provided that the holder does not at any time beneficially own more than 4.99% of the Issuer's Common Stock then outstanding. Since the holder provided 61 days notice to the issuer, Davi Skin, Inc., to waive the 4.99% limitation, as of March 24, 2010, the reporting person was entitled to convert some or all of the Series A Preferred Stock within 60 days. As a result of the waiver of the 4.99% limitation, the reporting person will be entitled to convert up to 250,000 shares of the Series A Preferred into 25,000,000 shares of Common Stock.