MCAFEE ERIC A 4
4 · BLAST ENERGY SERVICES, INC. · Filed Feb 17, 2012
Insider Transaction Report
Form 4
BLAST ENERGY SERVICES, INC.BESV.OB
MCAFEE ERIC A
10% Owner
Transactions
- Award
Convertible Promissory Note
2012-01-13+56,000,000→ 56,000,000 total(indirect: By LLC)Exercise: $0.02From: 2012-01-13Exp: 2013-02-27→ Common Stock (56,000,000 underlying)
Footnotes (4)
- [F1]On January 13, 2012, Berg McAfee Companies, LLC ("BMC") and Clyde Berg entered into a Debt Conversion Agreement (the "BMC Debt Conversion Agreement"). The BMC Debt Conversion Agreement modified the conversion rate of a Convertible Promissory Note held by BMC to provide that all principal and accrued interest under the Convertible Note shall be converted into shares of the Company's common stock at a conversion price of Two Cents ($0.02) per share (the "Conversion"), subject to certain requirements and conditions as set forth in the BMC Debt Conversion Agreement.
- [F2]Represents common stock issuable upon conversion of the principal amount of the Convertible Promissory Note and does not factor in accrued interest thereon, which is also convertible.
- [F3]Represents the date the Convertible Note is due.
- [F4]Clyde Berg and Eric McAfee are deemed to beneficially own the securities held by Berg McAfee Companies, LLC.