OCTAGON 88 RESOURCES, INC. 5
5 · OCTAGON 88 RESOURCES, INC. · Filed Oct 27, 2014
Insider Transaction Report
Form 5
Zentrum Energie Trust AG
10% Owner
Transactions
- Award
Warrant (Right to Buy)
2013-10-03+200,000→ 200,000 totalExercise: $3.00From: 2013-10-03Exp: 2016-10-03→ Common Stock (200,000 underlying) - Exercise of In-Money
Common Stock
2013-10-03$3.00/sh+50,505$151,515→ 14,250,505 total - Purchase
Warrant (Right to Buy)
2013-10-03−50,505→ 149,495 totalExercise: $3.00From: 2012-10-03Exp: 2013-10-03→ Common Stock (50,505 underlying) - Purchase
Common Stock
2013-10-03$2.50/sh+200,000$500,000→ 14,200,000 total
Holdings
- 14,000,000
Common Stock
- 200,000
Warrant (Right to Buy)
Exercise: $3.00From: 2012-10-03Exp: 2013-10-03→ Common Stock (200,000 underlying)
Footnotes (4)
- [F1]The reporting person beneficially owned 14,000,000 shares of common stock of Octagon 88 Resources, Inc. (the "Issuer") and a warrant to purchase 200,000 shares of common stock of the Issuer on December 21, 2012, the date on which the reporting person became a 10% owner of the Issuer.
- [F2]The securities were acquired in connection with an equity draw sown request made on October 3, 2013 under a Financing Commitment and Credit Facility Agreement (the "Agreement")between the reporting person and the Issuer. In connection with the equity draw down request, and as required by the terms of the Agreement, the reporting person received (a) on October 3, 2013, a warrant to purchase 200,000 shares of the Issuer's common stock and (b) on January 15, 2014, 200,000 shares of common stock, which was determined by dividing the $500,000 equity draw down amount by $2.50 per share, the price specified in the Agreement
- [F3]The reporting person delivered an exercise notice to the issuer on October 3, 2013 requesting a partial exercise of the warrant for 50,505 shares. These shares were delivered to the reporting person on January 15, 2014.
- [F4]149,495 shares remained underlying the warrant immediately following the partial exercise of the warrant and prior to the warrant's expiration on October 3, 2013.