SEC Form 5 · accession 0001144204-15-007974
GILLA INC. · GLLA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ashish Kapoor
Officer — Chief Financial Officer
Period of report
Dec 31, 2013
Accepted (ET)
Feb 11, 2015 · 4:48 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001004411
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unsecured Subordinated Convertible DebenturesF1 | $0.07 | Sep 3, 2013 | P | 50,000 | A | Sep 3, 2013 | Jan 31, 2016 | Common Stock | 714,286 | 50,000 | D |
Explanation of responses
- F1On September 3, 2013, Mr. Ashish Kapoor, the Chief Financial Officer of Gilla Inc. (the "Company") purchased $50,000, of Unsecured Subordinated Convertible Debentures (the "Debentures") from the Company. The Debentures had a maturity date of January 31, 2016 and bore interest at a rate of 12% per annum, which was payable quarterly in arrears. The Debentures were convertible into the Company's Common Stock at a fixed conversion rate of $0.10 per share at any time prior to the maturity date. On October 28, 2013, the conversion price of the Debentures was reduced to $0.07 per share.