SEC Form 4 · accession 0001185185-18-000247
Petrolia Energy Corp · BBLS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Quinten Beasley
Director
Period of report
Apr 18, 2016
Accepted (ET)
Feb 14, 2018 · 7:05 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001368637
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock (Restricted)F1 | Dec 13, 2016 | J | 3,624,030 | $0.18 | A | 4,084,030 | I | Critical Communication LLC |
| Common Stock (Restricted)F2 | May 30, 2017 | J | 1,038,529 | $0.21 | A | 5,122,559 | I | Critical Communication LLC |
| Common Stock (Restricted)F3 | Jul 21, 2017 | J | 1,483,613 | $0.14 | A | 6,606,172 | I | Critical Communication LLC |
| Common Stock (Restricted)F4 | Jul 21, 2017 | M | 1,100,000 | $0.14 | A | 7,716,172 | I | Critical Communication LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantF5 | $0.12 | Apr 18, 2016 | A | 500,000 | A | May 23, 2017 | May 23, 2020 | Common Stock | 500,000 | 610,000 | D |
| WarrantF5 | $0.12 | May 23, 2017 | A | 500,000 | A | May 23, 2017 | May 23, 2020 | Common Stock | 500,000 | 1,100,000 | D |
| WarrantF6,F4 | — | Feb 1, 2018 | C | 1,100,000 | D | — | — | Common Stock | 1,100,000 | 0 | I |
Explanation of responses
- F1Shares received through the acquisition of 10% net WI in the SUDS Field. This represents the ownership interest in which Critical Communication LLC held through its position held in the property.
- F2Shares received through the additional acquisition by Petrolia of 40% net WI in the SUDS Field. This represents the ownership interest in which Critical Communication LLC held through its position held in the property.
- F3Shares received through the settlement of the $3 million Debt owed to Jovian for the acquisition of the remaining 50% WI in SUDS. This represents the ownership interest in which Critical Communication LLC held through its position held in the property.
- F4Mr. Beasley has agreed to exercise all the warrants that he holds at this time, to settle a significant portion of the outstanding invoices issued through Critical Communication LLC. The exercising of warrants was approved by the Board.
- F5Warrants issued through the Directors Compensation package for annual service on Petrolia's Board of Directors.
- F6varies