SEC Form 4 · accession 0001052918-16-001304
Jayhawk Energy, Inc. · JYHW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Scott Mahoney
Officer — Interim President, CEO, CFO · Director
Period of report
Sep 20, 2016
Accepted (ET)
Sep 29, 2016 · 5:38 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001308710
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Sep 22, 2016 | S | 118,874,159 | $0.0005 | D | 203,228,202 | I | By Vast Exploration LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantsF1,F2 | $0.005 | Sep 20, 2016 | S | 94,333,678 | D | Oct 8, 2015 | Oct 8, 2020 | Common stock | 94,333,678 | 203,228,202 | I |
Explanation of responses
- F1Note 1: Vast Exploration, LLC beneficially owns 203,228,202 shares of common stock and pursuant to the terms of certain Convertible Debentures, a Revolving Credit Note, and Warrants held by Vast Exploration, LLC. 115,510,105 of the shares beneficially owned are in the form of convertible debentures that is unavailable for conversion until such time as the Issuer increases its authorized capital, because the Issuer has insufficient authorized capital to honor a conversion of said convertible debentures.
- F2Note 1, continued: 52,072,225 of the shares beneficially owned are in the form of a convertible line of credit note that is unavailable for conversion until such time as the Issuer increases its authorized capital, because the Issuer has insufficient authorized capital to honor a conversion of said convertible line of credit note. 39,645,872 of the shares beneficially owned are in the form of a common stock purchase warrant that is unavailable for exercise until such time as the Issuer increases its authorized capital, because the Issuer has insufficient authorized capital to honor an exercise of said common stock purchase warrant.
Remarks
Scott Mahoney, as the CEO and Manager of Vast Exploration, LLC, is the natural person with voting and dispositive control over Vast Exploration, LLC and is deemed to be a beneficial owner. Mr. Mahoney disclaims beneficial ownership of the Vast Exploration, LLC shares.