Sprectrum Networks Group, LLC 4
4 · IOTA COMMUNICATIONS, INC. · Filed Jul 23, 2020
Insider Transaction Report
Form 4
Sprectrum Networks Group, LLC
10% Owner
Transactions
- Other
Common Stock, par value $0.0001
2019-10-30−36,864,715→ 97,729,429 total - Award
Common Stock, par value $0.0001
2018-09-05+134,594,144→ 134,594,144 total
Footnotes (3)
- [F1]These shares were received in connection with the merger (the "Merger") of Iota Networks, LLC into M2M Spectrum Networks, LLC, a former wholly-owned subsidiary of the Reporting Person, and includes 129,555,432 shares of common stock issued in connection with the Merger and 5,038,712 shares of common stock issued as a result of a conversion of $5 million plus accrued interest of convertible debt held by the Reporting Person. On the effective date of the Merger, the closing price of the Issuer's common stock was $0.99 per share.
- [F2]The securities reported as directly beneficially owned by the Reporting Person may be deemed to be indirectly beneficially owned by Ms. Carole Downs, who is a managing member of the Reporting Person. Ms. Downs disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
- [F3]These shares were distributed to James B. Knapp, a member of the Reporting Person, and director of the Issuer.