SEC Form 4 · accession 0001553350-16-001672
ECOSPHERE TECHNOLOGIES INC · ESPH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William Brisben
10% Owner
Period of report
Mar 2, 2016
Accepted (ET)
Mar 4, 2016 · 6:29 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 May 29, 2016F3,F1 | $0.115 | Mar 2, 2016 | P | — | A | Mar 2, 2016 | May 29, 2016 | Common Stock | 1,739,131 | — | I |
| 10% Convertible Note Due April 17, 2016F3,F2 | $0.115 | Mar 2, 2016 | A | — | A | Mar 2, 2016 | Apr 17, 2016 | Common Stock | 1,304,348 | — | I |
Explanation of responses
- F1In connection with a $200,000 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 do not include additional shares issuable upon conversion of accrued interest.
- F2In connection with a $150,000 loan on January 18, 2016, the issuer entered into an agreement with the reporting person on March 2, 2016, to amend a convertible promissory note bearing interest at 10% annually which was originally convertible into shares of the issuer's subsidiary. The amended note is solely convertible into shares of the issuer's common stock at $0.115 per share. The number of shares reported do not include additional shares issuable upon conversion of accrued interest.
- F3If either of these advances are not paid when due, the issuer will issue the reporting person warrants and the due date will automatically extend to September 12, 2016.