SALIH ABBAS ABDELSALAM 4

4 · STRATEGIC INTERNET INVESTMENTS INC · Filed Oct 17, 2003

Form 4

Period: 2003-03-05

DirectorCEO, President10% Owner

Transactions

Sale
common shares
[F3][F1][F2]
2003-03-28$0.10/sh−350,000$35,000→ 7,003,310 total(indirect: Owned by Canarab Acquisitions Corp)
Expiration (Short)
Options
[F4]
2003-09-05$0.50/sh−95,000$47,500→ 0 total
Exercise: $0.50From: 2000-10-23Exp: 2005-10-23→ common shares (95,000 underlying)
Award
options
[F5]
2003-09-05$0.25/sh+600,000$150,000→ 600,000 total
Exercise: $0.25From: 2003-09-05Exp: 2008-09-05→ common shares (600,000 underlying)

Footnotes (5)

[F1]Deemed price of collateral shares proided as security for loan
[F2]Abbas Salih is a director of, plus indirectly controls the majority of, the common shares of Canarab Acquicitions Corp., a private Canadian company that beneficially ownes approximately 44% of the issued common shares of the Issuer.
[F3]The 350,000 Rule 144 restricted shares were provided on March 28, 2003 as collateral on a loan provided to Canarab Acquisition Corp. The loan defaulted during Sept 2003 and the collateral shares were realized by the lender upon default of the loan such that Canarab Acquisition Corp. has no further ownership interest in the 350,000 shares.
[F4]95000 options mutually cancelled as of Sept 5, 2003
[F5]600,000 Options acquired vest as to 20% upon date of grant and 20% every three months thereafter such that the total grant will be exercisable one year after granting (Sept 5, 2004)

Signature

Abbas Salih|2003-10-17

Documents

1 file