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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (Right to Buy) | $ 0.5533 | 01/15/2013 | A | 450,000 | 01/15/2014 | 01/14/2023 | Common Stock | 450,000 | (3) | 450,000 | D | ||||
Stock Option (Right to Buy) | $ 0.8333 | 01/15/2013 | A | 450,000 | (1) | 01/14/2023 | Common Stock | 450,000 | (3) | 450,000 | D | ||||
Stock Option (Right to Buy) | $ 1.11 | 01/15/2013 | A | 450,000 | (2) | 01/14/2023 | Common Stock | 450,000 | (3) | 450,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Isaac Jon 3525 DEL MAR HEIGHTS ROAD, SUITE 765 SAN DIEGO,, CA 92130 |
X | X | CEO, CFO and President |
/s/ Jon Isaac | 10/23/2014 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The option vests and becomes exercisable on January 26, 2015. |
(2) | The option vests and becomes exercisable on January 26, 2016. |
(3) | The options were issued under the Company's incentive plan. There was no consideration paid for the issuance. |
Remarks: The transaction reported in this Table I was effected by Mr. Jon Isaac for his own personal account. The amount of securities beneficially owned in Column 5, includes those 4,706,460 shares of common stock and 3,496,788 warrants beneficially owned by Mr. Isaac, as the sole member of Isaac Capital Group LLC. For the purposes of this form, "beneficial ownership" has the referred to such term in Rule 16a-1(a)(2) of the Securities Exchange Act Rules of 1934, as amended. In Table II, the exercise price and number of securities acquired reflects a 3-for-1 forward stock split effected by the Company on February 11, 2014 |