Lustgarten Shai Shalom 4
4 · Quest Solution, Inc. · Filed Nov 7, 2019
Insider Transaction Report
Form 4
Lustgarten Shai
DirectorChief Executive Officer10% Owner
Transactions
- Award
Common Stock
2019-11-05+317,796→ 16,576,111 total(indirect: See Footnote)
Footnotes (2)
- [F1]On October 5, 2018, Quest Solution, Inc. (the "Company") entered into a purchase agreement (the "Purchase Agreement") with Walefar Investments Ltd. ("Walefar"), Pursuant to the Purchase Agreement, the Company issued to Walefar a convertible promissory note with a principal amount of $700,000 and an interest rate of six percent (6%) per annum (the "Note"). Pursuant to the Note, Walefar may convert any and all accrued and unpaid principal and interest into shares of the Company's common stock at an exercise price of $0.236 per share (the "Exercise Price"). As of November 4, 2019, the accrued and unpaid balance under the Note was $150,000 (the "Balance"). On November 5, 2019, the Company and Walefar entered into a conversion agreement, pursuant to which Walefar agreed to convert $75,000 of the Balance at the Exercise Price and into 317,796 shares of the Company's common stock.
- [F2]The shares are held by Walefar Investments Ltd., which is beneficially owned by Mr. Lustgarten.