SEC Form 4 · accession 0001012975-15-000791
SPENDSMART NETWORKS, INC. · SSPC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Isaac Blech
Director · 10% Owner
Period of report
Nov 13, 2015
Accepted (ET)
Nov 17, 2015 · 6:46 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001062273
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Convertible Promissary Note (right to buy)F1,F3 | $0.75 | Nov 13, 2015 | A | 45,333 | A | Nov 13, 2015 | May 13, 2016 | Common Stock | 45,333 | 45,333 | D |
| Convertible Promissary Note (right to buy)F2,F3 | $0.75 | Nov 13, 2015 | A | 231,111 | A | Nov 13, 2015 | May 13, 2016 | Common Stock | 231,111 | 231,111 | I |
| Warrant (right to buy)F4 | $6.00 | Nov 13, 2015 | D | 125,000 | D | — | Nov 16, 2015 | Common Stock | 125,000 | 0 | D |
| Warrant (right to buy)F4 | $6.00 | Nov 13, 2015 | A | 125,000 | A | — | Dec 16, 2015 | Common Stock | 125,000 | 125,000 | D |
Explanation of responses
- F1The number of shares represents a Convertible Promissory Note in principal amount of $34,000 and has a maturity date of 5/13/2016 and an annual interest rate of 9%. The outstanding principal and interest may be converted at any time at a conversion rate of $0.75 per share of Common Stock.
- F2The aggregate number of shares represents three Convertible Promissory Notes in principal amounts of $80,000, $53,333.28, and $40,000. Each Note has a maturity date of 5/13/2016 and an annual interest rate of 9%. The outstanding principal and interest may be converted at any time at a conversion rate of $0.75 per share of Common Stock.
- F3This figure represents the number of shares into which the aggregate principal amounts of the Notes may be converted. Additional shares may be issued upon conversion as a result of interest accumulated on the Notes.
- F4The two reported transactions involved an amendment of an outstanding warrant, resulting in a deemed cancellation of the "old" warrant and a grant of a replacement warrant. The warrant was originally granted on November 16, 2010 and was fully exercisable at the time of the transactions.