4//SEC Filing
NORPAC TECHNOLOGIES, INC. 4
Accession 0001284834-05-000004
CIK 0001067286operating
Filed
May 30, 8:00 PM ET
Accepted
May 31, 2:17 PM ET
Size
13.4 KB
Accession
0001284834-05-000004
Insider Transaction Report
Form 4
LEITCH BRUCE THOMAS
Other
Transactions
- Conversion
10% Convertible Notes
2005-05-26$70000.00/sh−70,000$4,900,000,000→ 0 totalExercise: $0.00From: 2003-01-06Exp: 2005-12-31→ Common Shares (4,095,435 underlying) - Conversion
10% Convertible Notes
2005-05-26$6490.00/sh−6,490$42,120,100→ 0 totalExercise: $0.00From: 2003-02-14Exp: 2005-12-31→ Common Shares (376,403 underlying) - Conversion
Common Stock
2005-05-26+376,403→ 5,481,589 total - Conversion
Common Stock
2005-05-26+4,095,435→ 5,481,589 total
Footnotes (3)
- [F1]Mr. Leitch acquired 10% convertible notes (the "Notes") in the principal amount of $90,000 and $6,490 on Jan. 6, 2003 and Feb. 14, 2003, respectively, from Norpac Technologies, Inc. (the "Company") in consideration of amounts owed by the Company to Mr. Leitch. On May 26, 2005, Mr. Leitch received 4,095,435 shares of common stock upon conversion of $70,000 of the principal amount owing on the Notes held by Mr. Leitch, and an additional 376,403 shares of common stock upon conversion of $6,490 of the principal amount owing on the Notes held by Mr. Leitch. These amounts include 595,434 shares and 51,903 shares issued respectively to Mr. Leitch in consideration of interest owed on the convertible notes to May 26, 2005.
- [F2]The Notes bear interest at a rate of 10% per annum subject to any adjustments in accordance with the terms of the Notes. The Notes are convertible at the lesser of $0.001 or 50% of the average trading price of the Company's stock for the 10 trading days preceding the date of conversion. The Company may, at its option, elect to pay interest on the Notes by the issuance of shares of its common stock, the number of which will be determined by dividing the amount of the interest payment by the number which is 70% of the average market price of the Company's common shares for the 10 trading days immediately prior to the interest payment date.
- [F3]Based on the trading price of the Company's shares as of May 26, 2005.
Documents
Issuer
NORPAC TECHNOLOGIES, INC.
CIK 0001067286
Entity typeoperating
IncorporatedNV
Related Parties
1- filerCIK 0001067286
Filing Metadata
- Form type
- 4
- Filed
- May 30, 8:00 PM ET
- Accepted
- May 31, 2:17 PM ET
- Size
- 13.4 KB