Oberle David 4
4 · Residential Income Properties, Inc. · Filed Jun 30, 2009
Insider Transaction Report
Form 4
Oberle David
Other
Transactions
- Other
Common Stock, $0.0001 par value per share
2009-06-30−750,000→ 0 total
Footnotes (1)
- [F1]On the transaction date, the Reporting Person submitted his voluntary resignation to the Issuer's Chief Executive Officer. The reasons for the Reporting Person's resignation were (i) that he was occupied by his other unrelated personal business ventures, (ii) that he was incapable of dedicating his time required by the Issuer to fulfill his duties, and (iii) that he was uncertain as to his desire to incur substantial pecuniary obligations related to the Issuer's ongoing development. Consequently, as the Issuer issued its shares to the Reporting Person as compensation for his services to it, the Issuer and the Reporting Person agreed the Issuer would cancel and rescind the issuance of said 750,000.0000 shares of the Issuer's stock to becomne effective as of the transaction date and reported on this Form 4.