SEC Form 4 · accession 0001255294-15-000087
SKINVISIBLE INC · SKVI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Terry Howlett
Officer — CEO & CFO · Director · 10% Owner
Period of report
Dec 30, 2014
Accepted (ET)
Feb 17, 2015 · 5:55 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001085277
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt Conversion RightsF1 | $0.04 | Dec 30, 2014 | C | 852,308 | A | Dec 30, 2014 | Dec 30, 2019 | Common stock | 852,308 | 47,749,063 | D |
| Debt Conversion Rights (Warrant)F1 | $0.05 | Dec 30, 2014 | C | 426,154 | A | Dec 30, 2014 | Dec 30, 2022 | Common stock | 426,154 | 48,175,217 | D |
Explanation of responses
- F1On December 30, 2014 the Issuer entered into a Debt Conversion Agreement with Mr. Howlett totaling $34,092.30. Under the terms of the Debt Conversion Agreement, Mr. Howlett has the right to convert the debt amount into common stock of the Issuer as well as a warrant agreement to purchase one share for every two shares acquired. The expiration date on the warrant is 3 years from the date of conversion.