SEC Form 4 · accession 0001185185-15-000121
Pegasi Energy Resources Corporation. · PGSI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jay Moorin
Director
Period of report
Jan 9, 2015
Accepted (ET)
Jan 20, 2015 · 8:55 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001363254
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Convertible NoteF1,F2,F3 | $0.12 | Jan 9, 2015 | P | 250,000 | A | Jan 9, 2015 | — | Common Stock | 2,083,333 | 250,000 | D |
| WarrantsF4,F5 | $0.132 | Jan 9, 2015 | P | 694,444 | A | Jan 9, 2015 | Jan 9, 2022 | Common Stock | 694,444 | 694,444 | D |
Explanation of responses
- F1The conversion price underlying the convertible note shall be equal to the lower of (i) $0.12 or (ii) the higher of (x) $0.05 or (y) the VWAP on the trading day immediately preceding the conversion date, subject to adjustment.
- F2Investor holding a majority in interest of the outstanding notes may demand a full payment of the note, provided that such demand cannot be made prior to January 9, 2016.
- F3The number of shares is based on the current conversion price. The reporting person may not convert the note if such conversion would result in the reporting person or any of its affiliates would beneficially own more than 4.99% of Common Stock.
- F4The exercise price underlying the warrant shall be the lower of (i) $0.132 or (ii) the higher of (x) $0.06 or (y) 110% of the VWAP on the trading day immediately preceding the date of the exercise notice, subject to adjustment.
- F5The reporting person may not exercise the warrant if such exercise would result in the reporting person or any of its affiliates would beneficially own more than 4.99% of Common Stock.