SEC Form 4 · accession 0001553350-16-001974
ECOSPHERE TECHNOLOGIES INC · ESPH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William Brisben
10% Owner
Period of report
May 4, 2016
Accepted (ET)
May 6, 2016 · 4:05 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.
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 December 15, 2016F1 | $0.115 | May 4, 2016 | P | — | A | May 4, 2016 | Dec 15, 2016 | Common Stock | 3,730,435 | — | I |
| Common Stock WarrantsF1 | $0.115 | May 4, 2016 | P | 13,547,826 | A | May 4, 2016 | May 4, 2021 | Common Stock | 13,547,826 | 13,547,826 | I |
| 10% Convertible Note Due September 12, 2016F2 | $0.115 | May 4, 2016 | D | — | D | Feb 29, 2016 | Sep 12, 2016 | Common Stock | 21,521,739 | — | I |
| 10% Convertible Note Due December 15, 2016F2 | $0.115 | May 4, 2016 | A | — | A | May 4, 2016 | Dec 15, 2016 | Common Stock | 21,521,739 | — | I |
Explanation of responses
- F1In connection with a $429,000 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 $2,475,000, bearing interest at 10% annually, and convertible into shares of the issuer's common stock at $0.115 per share, previously was due to mature on September 12, 2016, but as amended, matures December 15, 2016. The number of shares reported as securities underlying the convertible note do not include additional shares issuable upon conversion of accrued interest.