XENONICS HOLDINGS, INC. 4
4 · XENONICS HOLDINGS, INC. · Filed Sep 12, 2014
Insider Transaction Report
Form 4
Magerman Alan
DirectorChairman
Transactions
- Award
13% Convertible Note due 2017
2014-09-10$50000.00/shExercise: $0.07From: 2014-09-10Exp: 2017-09-10→ Common Stock
Footnotes (1)
- [F1]The Reporting Person purchased a Convertible Secured Promissory Note of the Issuer in the principal amount of $50,000 ("Note"). The Note accrues simple interest at the rate of 13% per annum. The Reporting Person has the right to convert the principal amount, and any accrued and unpaid interest thereon, of the Note into shares of common stock of the Issuer at a conversation rate of $0.07 per share (subject to adjustment in the event of stock splits, stock dividends and reclassifications). Subject to certain exceptions, the Reporting Person may exercise such conversion right at any time and from time to time prior to the maturity date. The Note is due and payable, to the extent not converted, on or before September 10, 2017.