SEC Form 4 · accession 0001415889-15-003770
SPENDSMART NETWORKS, INC. · SSPC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph Proto
Director
Period of report
Nov 16, 2015
Accepted (ET)
Nov 17, 2015 · 7:09 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 Promissory Note (Right to Buy)F1,F2 | $0.75 | Nov 16, 2015 | A | 32,000 | A | Nov 16, 2015 | May 16, 2016 | Common Stock | 32,000 | 32,000 | I |
Explanation of responses
- F1The number of shares represents a Convertible Promissory Note in principal amount of $48,000 of which reporting person represents $24,000 and has a maturity date of 5/16/16 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 or on a mandatory basis into a qualified financing.
- F2This figure represents the number of shares into which the aggregate principal amounts of the Note may be converted. Additional shares may be issued upon conversion as a result of interest accumulated on the Note.