HPIL HOLDING 4
4 · HPIL HOLDING · Filed Dec 15, 2015
Insider Transaction Report
Form 4
HPIL HOLDINGHPIL
Bertoli Louis
DirectorPresident & CEO10% Owner
Transactions
- Other
Common Stock
2015-12-14+10,040,000→ 43,220,000 total(indirect: Footnote)
Footnotes (3)
- [F1]On December 9th, 2015, the Issuer entered into an Asset Purchase and Sale Agreement (the "Agreement") with Giotos Limited ("Giotos"). Pursuant to the Agreement, the Issuer sold to Giotos certain patents and related assets in consideration of Giotos returning to Issuer 10,040,000 shares of the common stock of Issuer for cancellation.
- [F2]The Issuer determined that the aggregate value of the patents and assets sold to Giotos pursuant to the Agreement was approximately $13,052,000. The parties agreed to use the quoted price on OTC Markets of the Issuer's common stock as of the date of the Agreement, December 9th, 2015, to determine the amount of shares cancelled.
- [F3]3,260,000 shares owned directly and 39,960,000 shares owned indirectly through Giotos Limited (majority owned by L. Bertoli).