Zaikin David D 4
4 · Siberian Energy Group Inc. · Filed Jan 3, 2011
Insider Transaction Report
Form 4
Siberian Energy Group Inc.SIBN.OB
Zaikin David D
DirectorChief Executive Officer
Transactions
- Other
Common Stock
2010-10-01$0.11/sh+10,483,895$1,153,228→ 11,243,895 total - Purchase
Common Stock
2010-11-26$0.04/sh+30,000$1,200→ 11,273,895 total
Footnotes (1)
- [F1]In October 2010, the Issuer entered into Debt Conversion Agreements with nine (9) creditors of the Issuer including Mr. Zaikin, the Issuer's Chief Executive Officer and Director, who converted $1,153,228 of debt owed to him by the Issuer into 10,483,895 shares of restricted common stock at the rate of one share for each $0.11 of debt converted (the "Conversion"). The Conversion price of $0.11 per share was calculated based on the average market price of the Issuer's common stock on the Over-The-Counter Bulletin Board for the six months prior to September 30, 2010.