SEC Form 4 · accession 0001553350-15-000124
ECOSPHERE TECHNOLOGIES INC · ESPH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William Brisben
10% Owner
Period of report
Feb 10, 2015
Accepted (ET)
Feb 11, 2015 · 6:55 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001071760
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 10% Convertible Note Due September 12, 2015F1 | $0.115 | Feb 10, 2015 | P | 2,500,000 | A | Feb 10, 2015 | Sep 12, 2015 | Common Stock | — | 250,000 | I |
| Common Stock WarrantsF1 | $0.115 | Feb 10, 2015 | P | 4,347,826 | A | Feb 10, 2015 | Feb 10, 2020 | Common Stock | 4,347,826 | 4,347,826 | I |
| 10% Convertible Note Due September 12, 2015F2 | $0.115 | holding | — | — | — | Sep 15, 2014 | Sep 12, 2015 | Common Stock | 8,695,652 | 1,000,000 | I |
Explanation of responses
- F1In connection with a $250,000 loan made on identical terms as a $1,000,000 loan made in September 2014, the issuer amended a Convertible Note solely to increase the principal by the additional invested amount. The number of additional shares issuable on the conversion of the Convertible Note is 2,173,913 shares. As additional consideration, the issuer issued the reported warrants to the reporting person.
- F2Amount of shares issuable upon conversion of $1,000,000 principal only. Up to an additional 869,565 shares issuable upon conversion of accrued interest.