Ross Stanton E 4
4 · INFINITY ENERGY RESOURCES, INC · Filed Jun 8, 2021
Insider Transaction Report
Form 4
Ross Stanton E
DirectorChairman and CEO10% Owner
Transactions
- Other
Warrant to purchase Common Stock
2021-03-31+1,051,416→ 1,691,930 totalExercise: $0.50From: 2021-03-31Exp: 2026-03-31→ common stock (1,051,416 underlying) - Award
Common Stock Purchase Option
2021-06-04+500,000→ 630,000 totalExercise: $0.50From: 2022-06-04Exp: 2031-06-04→ common stock (500,000 underlying) - Other
Convertible Promissory Note Payable
2021-03-31→ 640,514 totalExercise: $0.50From: 2021-03-31Exp: 2026-03-31→ common stock (10,514 underlying)
Footnotes (2)
- [F1]On March 31, 2021 the Reporting Person agreed to exchange accrued but unpaid compensation totaling $525,708 for a 3% convertible promissory note payable with a principal balance of $5,257 which is convertible into 10,514 shares of common stock and maturity date of March 31, 2026. In addition, the Reporting person was issued detachable warrants to purchase a total of 1,051,416 shares of common stock at $0.50 per share. The Reporting Person has agreed to not exercise his right to convert the promissory note or exercise the common stock purchase warrants at anytime whereby the Reporting Person would beneficially own more than 4.99% or with prior notice 9.99% of the Company's outstanding common stock.
- [F2]On June 4, 2021 the Reporting Person was granted options to purchase 500,000 shares of common stock at an exercise price of $0.50 per share with a termination date of June 4, 2031. Such common stock purchase options vest on June 4, 2022 contingent upon the Reporting Person continued service to the Company at such point in time.