SEC Form 4 · accession 0001002014-16-000557
SMARTCHASE CORP. · SCHS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
Reporting owner
Thomas Lawrence Jones
Officer — Interim CEO · Director
Period of report
Dec 31, 2015
Accepted (ET)
Jan 12, 2016 · 4:29 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001390533
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 DebenturesF2,F1 | — | Dec 31, 2015 | P | 250,000 | A | Dec 31, 2015 | Jun 30, 2017 | Common Stock | 250,000 | 250,000 | I |
Explanation of responses
- F1The Debenture has a term of eighteen (18) months from December 31, 2015 (the "Maturity Date"), bears interest at a rate of 14% per annum, payable on the Maturity Date, shall be converted into common shares of the Corporation ("Debenture Shares") at the discretion of the Subscriber on the basis of one Debenture Share convertible at $0.07 per share within six (6) months of issuance, convertible at $0.10 per share between six (6) to twelve (12) months, and convertible at $0.15 per share between twelve (12) to eighteen (18) months.
- F2On December 31, 2015 SmartChase Corp. issued a Convertible Debenture in the principal amount of $250,000, to Northern Coast Financial Inc. Thomas Jones is the President and Chief Executive Officer of Northern Coast Financial Inc.