Rutherford Scott Douglas 4
4 · Brekford International Corp. · Filed Nov 20, 2009
Insider Transaction Report
Form 4
Rutherford Scott Douglas
DirectorPresident10% Owner
Transactions
- Award
12% Convertible Note
2009-11-09$250000.00/shExercise: $0.07From: 2009-11-09→ Common Stock
Footnotes (2)
- [F1]The reporting person acquired a 12% convertible promissory note in principal amount of $250,000 issued by the registrant in favor of the reporting person under which outstanding principal, accrued and unpaid interest may convert into shares of the common stock of the registrant at the option of the reporting person at a price of $0.07 per share. The note matures on the earlier of two years from the issue date of the note, or ten business days from the closing by the registrant of any equity financing generating gross proceeds in the aggregate amount of not less than $5,000,000.
- [F2]The 12% convertible promissory note in principal amount of $250,000 is convertible into 3,571,429 shares of common stock as of the date of acquisition.