SEC Form 4 · accession 0001437749-16-042303
SALON MEDIA GROUP INC · SLNM.OB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William R Hambrecht
Director · 10% Owner
Period of report
Nov 14, 2016
Accepted (ET)
Nov 17, 2016 · 6:59 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001084332
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Nov 14, 2016 | J | 29,130,000 | $0.10 | A | 56,622,732 | I | Trust |
Table II — derivative securities
No Table II lines on this filing.
Remarks
On November 14, 2016, Salon Media Group, Inc. received $400,000 in the form of a Demand Promissory Note. As a condition to issuance of the Demand Promissory Note, all advances from related parties were converted into common stock. Mr. Hambrecht's advances equaled $2,913,000 and were converted to 29,130,000 shares of common stock.