SEC Form 4 · accession 0001140361-15-016848
GB SCIENCES INC · GBLX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
LAZARUS INVESTMENT PARTNERS LLLP
10% Owner
Justin B Borus
10% Owner
Lazarus Management Co LLC
10% Owner
Period of report
Apr 27, 2015
Accepted (ET)
Apr 29, 2015 · 5:07 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001165320
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrant (right to buy)F2,F3 | $2.00 | Apr 27, 2015 | S | 3,000,000 | D | May 29, 2014 | May 29, 2019 | Common Stock | 3,000,000 | 0 | I |
| Warrant (right to buy)F2,F3 | $2.00 | Apr 27, 2015 | S | 1,000,000 | D | Jun 2, 2014 | Jun 2, 2019 | Common Stock | 1,000,000 | 0 | I |
Explanation of responses
- F1The reported transactions involve the repurchase by the Issuer of warrants at a purchase price of $0.01 per warrant share.
- F2This form is filed jointly by Lazarus Management Company LLC ("Lazarus Management"), Justin B. Borus, Lazarus Investment Partners LLLP ("Lazarus Partners") and Lazarus Israel Opportunities Fund LLLP ("Lazarus Israel" and together with Lazarus Partners, the "Funds"). The securities reported herein were owned directly by Lazarus Partners (warrants to purchase 3,000,000 shares) and Lazarus Israel (warrants to purchase 1,000,000 shares). Lazarus Management is the investment adviser and general partner of Lazarus Partners and Mr. Borus is the managing member of Lazarus Management.
- F3Each of Lazarus Management and Mr. Borus expressly disclaims beneficial ownership of the securities held by the Funds, in each case, except to the extent of his or its pecuniary interest therein. Each of the Funds expressly disclaims beneficial ownership of the shares held by the other Fund. The filing of this Form 4 shall not be construed as an admission that either Lazarus Management or Mr. Borus, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, are the beneficial owner of any of the securities reported herein.