SEC Form 4 · accession 0001654954-18-014260
QUOTEMEDIA INC · QMCI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Shworan
Officer — CEO of QuoteMedia, Ltd. · Director · 10% Owner
Period of report
Dec 20, 2018
Accepted (ET)
Dec 21, 2018 · 5:53 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001101433
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A Preferred StockF2,F1,F3,F4 | $25.00 | Dec 20, 2018 | J | 600 | D | — | — | Common Stock | — | 104,500 | I |
Explanation of responses
- F1The Series A Preferred Stock is owned by Bravenet Web Services Inc.The reporting person is a control person of Bravenet Web Services, Inc. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- F2Series A Redeemable Convertible Preferred Stock, par value $0.001 per share ("Series A Preferred Stock")
- F3Within fifteen (15) days following the Company's filing of its quarterly or annual reports (the "SEC Reports") with the U.S. Securities and Exchange Commission (the "SEC") covering each of the four (4) fiscal quarters, if the cash balance of the Company as reported in any such SEC Reports at the end of any such fiscal quarter exceeds certain targets, the Debt Holders may request that a prescribed amount of Series A Preferred Shares be repurchased at their Liquidation Value ($25.00).
- F4Holders of Series A Preferred Stock shall have the right to convert their shares of Series A Preferred Stock, at any time following the date of the closing price of a share of Common Stock on a securities exchange or actively traded over-the-counter market has exceeded $0.30 for ninety (90) consecutive trading days, into shares of Common Stock at the rate of 83.33 shares of Common Stock for one share of Series A Preferred Stock.