SEC Form 4 · accession 0001553350-15-000939

ECOSPHERE TECHNOLOGIES INC · ESPH

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

10% Owner

Period of report

Aug 28, 2015

Accepted (ET)

Sep 1, 2015 · 5:40 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001071760

Table I — non-derivative securities

No Table I lines on this filing.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
10% Convertible Note Due September 12, 2016^F1	$0.115	Aug 28, 2015	P	—	A	Aug 28, 2015	Sep 12, 2016	Common Stock	2,391,304	—	I
Common Stock Warrants^F1	$0.115	Aug 28, 2015	P	2,173,913	A	Aug 28, 2015	Aug 28, 2020	Common Stock	2,173,913	2,173,913	I
10% Convertible Note Due September 12, 2015^F2	$0.115	Aug 28, 2015	D	—	D	—	Sep 12, 2015	Common Stock	17,391,304	—	I
10% Convertible Note Due September 12, 2016^F2	$0.115	Aug 28, 2015	A	—	A	—	Sep 12, 2016	Common Stock	17,391,304	—	I

F1In connection with a $275,000 loan, the issuer issued the reporting person a convertible promissory note bearing interest at 10% annually which is convertible into shares of the issuer's common stock at $0.115 per share. The number of shares reported as securities underlying the convertible note do not include additional shares issuable upon conversion of accrued interest. As additional consideration, the issuer issued the reported warrants to the reporting person.
F2The two reported transactions involved the amendment of a convertible promissory note, resulting in the deemed cancellation of the "old" note and the grant of a replacement note. The note, in the original principal amount of $2,000,000, bearing interest at 10% annually, and convertible into shares of the issuer's common stock at $0.115 per share, previously matured on September 12, 2015, but as amended, matures September 12, 2016. The number of shares reported as securities underlying the convertible note do not include additional shares issuable upon conversion of accrued interest.