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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, Section 17(a) of the Public Utility Holding Company Act of 1935 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 | ||||||||
convertible promissory note | (1) | 01/15/2016 | P | $ 115,000 | (1) | (1) | common stock | $ 115,000 | $ 0 | $ 115,000 | D | ||||
convertible promissory note | $ 0.247 | 05/03/2016(2) | C | $ 115,000 | 05/03/2016(2) | 05/03/2016(2) | common stock | 465,587 | $ 0 | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
JACKSON MANNIE L ALFRED P SLOAN FOUNDATION 630 FIFTH AVENUE SUITE 2550 NEW YORK, NY 10111-0242 |
X |
Mannie L. Jackson | 05/11/2016 | |
**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 convertible promissory note was convertible into shares of the issuer's common stock at a conversion price equal to the closing price of the issuer's common stock on the trading day immediately preceding the earlier of (i) the third business day following the date of receipt by the issuer of proceeds from its sale of a portion of its shares in its DSIT Solutions Ltd. subsidiary or (ii) September 1, 2016. |
(2) | May 3, 2016 was the third business day following the date of receipt by the issuer of proceeds from its sale of a portion of its shares of its DSIT Solutions Ltd. subsidiary. |