Boga Cyrus 4
4 · Vican Resources, Inc. · Filed Dec 23, 2011
Insider Transaction Report
Form 4
Boga Cyrus
DirectorChief Executive Officer
Transactions
- Tax Payment
Series C Preferred Stock
2011-12-20$0.01/sh+600,000$6,000(indirect: See footnote)
Footnotes (1)
- [F1]On December 20, 2011, the Company converted a certain promissory note, in the original principal amount of $700,000 held by Cumbria Capital, L.P. ("Cumbria"), into 600,000 shares of Series C Preferred Stock. Each share of Series C Preferred Stock is entitled to share ratably in all dividends and distributions to holders of Common Stock, and is further entitled to one (1) vote per share and is able to be voted together with votes of the Company's Common Stock in respect of all matters to which Common Stock may be voted. In addition, shares of Series C Preferred Stock will automatically convert into shares of Common Stock, on a one-to-one basis, upon FINRA approval of the Reverse-Split. Cumbria is a Texas limited partnership owned and controlled by Cyrus Boga, a member of the Company's Board of Directors.