Mitha Abdul A 4
4 · CLEAN POWER TECHNOLOGIES INC. · Filed Mar 23, 2009
Insider Transaction Report
Form 4
Mitha Abdul A
DirectorPresident, CEO
Transactions
- Other
Common stock
2009-03-03$0.50/sh+850,000$425,000→ 7,640,581 total
Holdings
- 2,000,000(indirect: By Spouse)
Common Stock
Footnotes (2)
- [F1]These shares were issued to Mr. Mitha at the election of the Company pursuant to a convertible loan agreement between the Company and Mr. Mitha whereby the Company has the sole right to elect to convert Mr. Mitha's debt, or a portion thereof. The Company has made the election to convert a total of $425,000 of debt owed to Mr. Mitha under this convertible loan agreement.
- [F2]These shares are owned by Mr. Mitha's wife, who owns 500,000 shares of common stock, and Mr. Mitha's son and daughter, who each own 750,000 shares of common stock. Mr. Mitha disclaims any beneficial ownership of these shares.