MORRISON ROBERT A 4
4 · HS3 TECHNOLOGIES INC. · Filed Jul 14, 2011
Insider Transaction Report
Form 4
MORRISON ROBERT A
DirectorPresident10% Owner
Transactions
- Conversion
Common Shares
2011-06-24$0.04/sh+3,902,800$173,284→ 15,749,082 total - Conversion
Convertible Note
2011-06-24$0.04/sh−3,902,800$173,284→ 0 totalExercise: $0.04→ Common Shares (3,902,800 underlying)
Holdings
- 11,846,282
Common Shares
- 1,460,000
Convertible Note
Exercise: $0.05From: 2009-11-06→ Common Shares (1,460,000 underlying)
Footnotes (2)
- [F1]The Convertible Note was issued pursuant to the balance of a debt conversion agreement dated November 6, 2009 in the amount of $73,000. The proceeds are payable on demand.
- [F2]On June 24, 2011, the Issuer and Mr. Morrison entered into a debt settlement and subscription agreement wherein Mr. Morrison agreed to subscribe for 3,902,800 shares of common stock of the Issuer at a purchase price of $0.04445 per share, or $173,479.55, exercisable on demand. In lieu of a cash payment to the Issuer, the shares of common stock were issued to Mr. Morrison as payment of an outstanding debt owed to Mr. Morrison in the amount of $173,479.55 as full payment of the debt owed.