SEC Form 4 · accession 0001445866-15-000480
BioSolar Inc · NEWH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Donghie Lee
Officer — CEO, Acting CFO · Director
Period of report
Mar 5, 2014
Accepted (ET)
Apr 24, 2015 · 11:14 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001371128
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 5, 2014 | J | 378,650 | — | A | 2,028,651 | D | |
| Common StockF2 | Apr 20, 2015 | J | 1,093,846 | — | A | 3,122,497 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options to purchase Common StockF3 | $0.09 | Mar 24, 2015 | A | 2,000,000 | A | — | Mar 24, 2022 | Common Stock | 2,000,000 | 2,000,000 | D |
| Convertible NoteF4 | — | Dec 18, 2014 | A | 663,367 | A | Dec 18, 2014 | Dec 18, 2016 | Common Stock | 663,367 | 663,367 | D |
| Convertible NoteF5 | — | Jun 5, 2013 | A | 137,500 | A | Jun 5, 2013 | Jun 5, 2015 | Common Stock | 137,500 | 137,500 | D |
Explanation of responses
- F1Issued to Reporting person upon the conversion of $30,000 of a convertible promissory note granted to the Reporting Person by the Issuer for unpaid salary.
- F2Issued to Reporting person upon the conversion of $65,000 of a convertible promissory note granted to the Reporting Person by the Issuer for unpaid salary.
- F3Issued directly to the Reporting Person by the Issuer as compensation for services provided. Such options shall vest in 25 equal monthly installments beginning on April 24, 2015.
- F4Issued directly to Reporting Person by the Issuer in satisfaction of unpaid salary. The balance of the Promissory Note is convertible into shares of the Issuer's common stock at a conversion price equal to the lesser of (i) $0.101 per share, or (ii) the closing prices of the Issuer's common stock on the last complete trading day immediately preceding the date of conversion. The original balance of the Promissory Note was $67,000. The number of shares represents the number of shares that may be issuable assuming a conversion price of $0.101. The actual number of shares may vary depending on the actual conversion price at the date of conversion
- F5Issued directly to Reporting Person by the Issuer in satisfaction of unpaid salary. The balance of the Promissory Note is convertible into shares of the Issuer's common stock at a conversion price equal to the lesser of (i) $0.24 per share, or (ii) the closing prices of the Issuer's common stock on the last complete trading day immediately preceding the date of conversion. The original balance of the Promissory Note was $128,000, however, only $33,000 of such balance remains. The number of shares represents the number of shares that may be issuable assuming a conversion price of $0.24. The actual number of shares may vary depending on the actual conversion price at the date of conversion