SEC Form 4 · accession 0001553350-16-002143

ECOSPHERE TECHNOLOGIES INC · ESPH

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

Reporting owner

William Brisben

10% Owner

Period of report

Jun 3, 2016

Accepted (ET)

Jun 7, 2016 · 5:22 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, 2017^F1	$0.115	Jun 3, 2016	P	—	A	Jun 3, 2016	Dec 15, 2017	Common Stock	4,347,826	—	I
10% Convertible Note Due December 15, 2016^F2	$0.115	Jun 3, 2016	D	—	D	Feb 29, 2016	Dec 15, 2016	Common Stock	21,521,739	—	I
10% Convertible Note Due December 15, 2017^F2	$0.115	Jun 3, 2016	A	—	A	Jun 3, 2016	Dec 15, 2017	Common Stock	21,521,739	—	I
10% Convertible Note Due December 15, 2016^F3,F1	$0.115	Jun 3, 2016	D	—	D	May 4, 2016	Dec 15, 2016	Common Stock	3,730,435	—	I
10% Convertible Note Due December 15, 2017^F3,F1	$0.115	Jun 3, 2016	A	—	A	Jun 3, 2016	Dec 15, 2017	Common Stock	3,730,435	—	I
Common Stock Warrants^F1	$0.045	Jun 3, 2016	P	8,695,652	A	Jun 3, 2016	Jun 3, 2021	Common Stock	8,695,652	8,695,652	I
Common Stock Warrants^F4	$0.115	Jun 3, 2016	D	562,500	D	Sep 15, 2014	Sep 12, 2019	Common Stock	562,500	0	D
Common Stock Warrants^F4	$0.045	Jun 3, 2016	A	562,500	A	Jun 3, 2016	Jun 3, 2021	Common Stock	562,500	562,500	I
Common Stock Warrants^F4	$0.115	Jun 3, 2016	D	17,391,304	D	Sep 15, 2014	Sep 12, 2019	Common Stock	17,391,304	0	I
Common Stock Warrants^F4	$0.045	Jun 3, 2016	A	17,391,304	A	Jun 3, 2016	Jun 3, 2021	Common Stock	17,391,304	17,391,304	I
Common Stock Warrants^F4	$0.115	Jun 3, 2016	D	4,347,826	D	Feb 10, 2015	Feb 10, 2020	Common Stock	4,347,826	0	I
Common Stock Warrants^F4	$0.045	Jun 3, 2016	A	4,347,826	A	Jun 3, 2016	Jun 3, 2021	Common Stock	4,347,826	4,347,826	I
Common Stock Warrants^F4	$0.115	Jun 3, 2016	D	4,347,826	D	Mar 20, 2015	Mar 20, 2020	Common Stock	4,347,826	0	I
Common Stock Warrants^F4	$0.045	Jun 3, 2016	A	4,347,826	A	Jun 3, 2016	Jun 3, 2021	Common Stock	4,347,826	4,347,826	I
Common Stock Warrants^F4	$0.115	Jun 3, 2016	D	4,347,826	D	May 8, 2015	May 8, 2020	Common Stock	4,347,826	0	I
Common Stock Warrants^F4	$0.045	Jun 3, 2016	A	4,347,826	A	Jun 3, 2016	Jun 3, 2021	Common Stock	4,347,826	4,347,826	I
Common Stock Warrants^F4	$0.115	Jun 3, 2016	D	4,347,826	D	Jun 19, 2015	Jun 19, 2020	Common Stock	4,347,826	0	I
Common Stock Warrants^F4	$0.045	Jun 3, 2016	A	4,347,826	A	Jun 3, 2016	Jun 3, 2021	Common Stock	4,347,826	4,347,826	I
Common Stock Warrants^F4	$0.115	Jun 3, 2016	D	2,173,913	D	Aug 28, 2015	Aug 28, 2020	Common Stock	2,173,913	0	I
Common Stock Warrants^F4	$0.045	Jun 3, 2016	A	2,173,913	A	Jun 3, 2016	Jun 3, 2021	Common Stock	2,173,913	2,173,913	I
Common Stock Warrants^F4	$0.115	Jun 3, 2016	D	13,547,826	D	May 4, 2016	May 4, 2021	Common Stock	13,547,826	0	I
Common Stock Warrants^F4	$0.045	Jun 3, 2016	A	13,547,826	A	Jun 3, 2016	Jun 3, 2021	Common Stock	13,547,826	13,547,826	I

Explanation of responses

F1In connection with a $500,000 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 December 15, 2016, but as amended, matures December 15, 2017. The number of shares reported as securities underlying the convertible note do not include additional shares issuable upon conversion of accrued interest.
F3The 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 $429,000, 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 December 15, 2016, but as amended, matures December 15, 2017. The number of shares reported as securities underlying the convertible note do not include additional shares issuable upon conversion of accrued interest.
F4The reported transactions involved the amendment of warrants, resulting in the deemed cancellation of the "old" warrants and the grant of replacement warrants. The original warrants which were all exercisable at $0.115 per share have been amended to be exercisable at $0.045 per share. Additionally, the expiration dates of the original warrants have been amended to June 3, 2021.