SEC Form 3 · accession 0001571049-15-008368

InsPro Technologies Corp · ITCC

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Dec 13, 2011

Accepted (ET)

Oct 23, 2015 · 11:24 am EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001309442

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Series B Convertible Preferred Stock^F1	holding	—	—		—	283,333	I	Footnote
Series B Convertible Preferred Stock^F2	holding	—	—		—	150,000	I	Footnote

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Warrant to Purchase Common Stock^F1	$0.15	holding	—	—	—	Nov 20, 2012	Jan 20, 2017	Common Stock	833,330	—	I
Warrant to Purchase Series B Convertible Preferred Stock	$3.00	holding	—	—	—	May 22, 2014	May 22, 2019	Common Stock	600,000	—	D
Warrant to Purchase Common Stock^F2	$0.15	holding	—	—	—	Sep 18, 2015	Nov 20, 2017	Common Stock	1,500,000	—	I

F1Azeez Investors, LLC purchased 200,000 Units and 83,333 Units (each Unit consisting of (i) 1 share of Series B Convertible Preferred Stock (which are convertible into 20 shares of common stock, subject to certain adjustments) and (ii) a 5-year Warrant to purchase 10 shares of common stock of the Issuer) in private placements on September 30, 2010 and November 20, 2012, respectively. The purchase price per Unit was $3.00. There is no expiration date for the conversion of the Series B Convertible Preferred Stock. Mr. Azeez is the managing member of Azeez Investments, LLC. Mr. Azeez disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.
F2Azeez Enterprises, L.P. purchased 150,000 Units (each Unit consisting of (i) 1 share of Series B Convertible Preferred Stock (which are convertible into 20 shares of common stock, subject to certain adjustments) and (ii) a Warrant to purchase 10 shares of common stock of the Issuer) that expires on November 20, 2017, in a private placement on September 18, 2015. The purchase price per Unit was $3.00. There is no expiration date for the conversion of the Series B Convertible Preferred Stock. Mr. Azeez is the general partner of Azeez Enterprises, L.P. Mr. Azeez disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.