HPIL HOLDING 5/A
5/A · HPIL HOLDING · Filed Feb 24, 2014
Insider Transaction Report
Form 5/AAmended
HPIL HOLDINGHPIL
Bertoli Louis
DirectorPresident & CEO10% Owner
Transactions
- Other
Common Stock
2013-04-12−50,000,000→ 53,260,000 total(indirect: Owned Directly and Indirectly through GIOTOS Limited) - Other
Common Stock
2012-06-28+100,000,000→ 53,260,000 total(indirect: Owned Directly and Indirectly through GIOTOS Limited)
Footnotes (5)
- [F1]On June 28, 2012, the Issuer entered into a Stock Purchase Agreement with GIOTOS Limited in exchange for 100,000,000 shares of the Company's common stock at a per share price of $0.25 in return for certain patents that the parties initially valued at $25,000,000, subject to adjustment based on a third-party valuation.
- [F2]On April 12, 2013, the parties executed a Closing Agreement to close the June 28, 2012 Stock Agreement, based on a third-party valuation of the patents in the amount of $12,500,000. As a result of the closing of the agreement, GIOTOS Limited returned 50,000,000 shares of the Company's common stock at a price of $0.25 per share.
- [F3]3,260,000 shares owned directly and 50,000,000 shares owned indirectly through GIOTOS Limited (100% controlled by Louis Bertoli)
- [F4]This transaction should have been reported on Form 5 for fiscal year 2012.
- [F5]This transaction should have been reported on a timely Form 5 for fiscal year 2013.