SPENDSMART NETWORKS, INC. 4
4 · SPENDSMART NETWORKS, INC. · Filed Nov 17, 2015
Insider Transaction Report
Form 4
Proto Joseph
Director
Transactions
- Award
Convertible Promissory Note (Right to Buy)
2015-11-16$24000.00/sh+32,000$768,000,000→ 32,000 total(indirect: By Investment Co.)Exercise: $0.75From: 2015-11-16Exp: 2016-05-16→ Common Stock (32,000 underlying)
Footnotes (2)
- [F1]The number of shares represents a Convertible Promissory Note in principal amount of $48,000 of which reporting person represents $24,000 and has a maturity date of 5/16/16 and an annual interest rate of 9%. The outstanding principal and interest may be converted at any time at a conversion rate of $0.75 per share of Common Stock or on a mandatory basis into a qualified financing.
- [F2]This figure represents the number of shares into which the aggregate principal amounts of the Note may be converted. Additional shares may be issued upon conversion as a result of interest accumulated on the Note.