SEC Form 4 · accession 0001002014-16-000622
SMARTCHASE CORP. · SCHS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas Lawrence Jones
Officer — Director, CEO · Director
Period of report
Mar 16, 2016
Accepted (ET)
Mar 24, 2016 · 2:53 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001390533
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common stockF3 | Mar 16, 2016 | P | 17,500,000 | $0.0003 | A | 17,500,000 | I | See Note 3 |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Convertible DebenturesF1,F2 | — | Dec 31, 2015 | P | 0 | A | Dec 31, 2015 | Jun 30, 2017 | common stock | 0 | 0 | I |
Explanation of responses
- F1On December 31, 2015 SmartChase Corp. issued 250 Convertible Debentures at a price of $1,000 per Convertible Debenture, to Northern Coast Financial Inc. for an aggregate of $250,000.00. Thomas Jones is the President and Chief Executive Officer of Northern Coast Financial Inc.
- F2The Debentures have a term of eighteen (18) months from December 31, 2015 (the "Maturity Date"), bear 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 following conversion price: $0.07 per share within six (6) months of issuance, $0.10 per share between six (6) to twelve (12) months, and $0.15 per share between twelve (12) to eighteen (18) months.
- F3The shares are owned indirectly by the Reporting Person as President & CEO of Northern Coast Financial Inc.