BOYCE RICHARD G 4
4 · ADAIR INTERNATIONAL OIL & GAS INC · Filed Sep 17, 2003
Insider Transaction Report
Form 4
BOYCE RICHARD G
DirectorPresident10% Owner
Transactions
- Purchase
"Series A" Convertible Preferred Stock
2003-06-27$1.00/sh+27,500$27,500→ 27,500 totalExercise: $0.00→ Common Stock - Purchase
"Series A" Convertible Preferred Stock
2003-06-27$1.00/sh+167,107$167,107→ 167,107 total(indirect: By LLC)Exercise: $0.00→ Common Stock
Footnotes (5)
- [F1]Payment in lieu of cash for directors fees for eleven (11) months, August 2002 thru June 2003.
- [F2]These "Series A" Preferred Shares are convertible into 27,500,000 shares of Common Stock at the option of the holder and at such time as a sufficient number of authorized common shares are available from the Issuer. The shares of "Series A" Convertible Preferred Stock are convertible into shares of Common Stock on a 1:1000 basis, subject to adjustment for stock splits, consolidations and stock dividends.
- [F3]The "Series A" Preferred Convertible Stock carries no expiration date.
- [F4]Payment in lieu of cash for expenses and salaries. Amount reported represents individual's porportionate interest in this transaction.
- [F5]These Preferred shares are convertible into 167,107,000 shares of Common Stock at the option of the holder and at such time as a sufficient number of authorized common shares are available from the Issuer. The shares of "Series A" Convertible Preferred Stock are convertible into shares of Common Stock on a 1:1000 basis, subject to adjustment for stock splits, consolidations and stock dividends.