GROWLIFE, INC. 4/A
4/A · GROWLIFE, INC. · Filed Oct 20, 2014
Insider Transaction Report
Form 4/AAmended
GROWLIFE, INC.PHOT
Scott Sterling C.
DirectorCEO, President, and Secretary10% Owner
Transactions
- Sale
Common Stock
2014-10-09$0.05/sh−2,446,900$122,345→ 50,633,506 total
Footnotes (3)
- [F1]Excludes the Note, the Jordan Note, and the Andrew Note (as defined below). On 09-10-2014, Sterling Scott ("Sterling") sold his entire interest in that certain 6% Senior Secured Convertible Note ("Note") to Jordan Wedam Scott ("Jordan") and Andrew J. Gentile ("Andrew") in a private transaction for $413,680, which Note was originally issued by GrowLife, Inc. ("Company") to Sterling on 04-05-2012. As of 09-10-2014, the Note and all accrued and unpaid interest on the Note was convertible into 68,247,565 shares of Company common stock. Jordan is Sterling's independent adult son.
- [F2]As a result of that sale, the Note was split up so that in its place the Company issued to (i) Jordan a new 6% Senior Secured Convertible Note in the principal amount of $263,680 with the original issue date of 03-16-2013, amended 09-10-2014 ("Jordan Note"), and (ii) Andrew a new 6% Senior Secured Convertible Note in the principal amount of $150,000 with the original issue date of 03-16-2013, amended 09-10-2014 ("Andrew Note"). As a result of that transaction, Sterling holds -0- derivative securities in the Company.
- [F3]Following that transaction, Sterling Scott still beneficially owns 50,633,506 shares of common stock, of which Sterling Scott's wife owns 3,632,988 shares, representing 5.4% of the outstanding stock of the Company.