SEC Form 4 · accession 0001617950-16-000001
CANNASYS INC · MJTK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brandon Chad Jennewine
Director
Period of report
Jul 10, 2015
Accepted (ET)
Aug 16, 2016 · 2:26 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001417028
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jul 8, 2016 | J | 1,515,000 | — | D | 0 | I | By F-Squared Enterprises, LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock GrantF3 | $0.00 | Jul 10, 2015 | A | 500,000 | A | — | Dec 31, 2017 | Common Stock | 500,000 | 500,000 | D |
| Restricted Stock GrantF3 | $0.00 | Dec 24, 2015 | D | 500,000 | D | — | — | Common Stock | 500,000 | 0 | D |
| WarrantF3 | $0.05 | Dec 24, 2015 | A | 500,000 | A | — | Dec 31, 2018 | Common Stock | 500,000 | 500,000 | D |
| Series A Preferred StockF2,F4 | $0.00 | Jul 29, 2016 | A | 1,515,000 | A | — | — | Common Stock | 1,515,000 | 1,515,000 | I |
Explanation of responses
- F1On July 8, 2016, reporting person agreed to exchange 1,515,000 shares of common stock for 1,515,000 shares of Series A Preferred Stock, and the common stock was returned to the issuer for cancellation.
- F2Reporting person is the sole member of F-Squared Enterprises, LLC.
- F3Reporting person received a grant of restricted stock for 500,000 shares of common stock, to vest in equal increments of 1/10th each quarter, beginning on 07/10/15 for the quarter ended 06/30/15, and thereafter, on the first day of each subsequent quarter, until fully vested. No shares were issued and on 12/24/15, the grant of restricted stock and the shares vested were cancelled in exchange for a warrant to purchase 500,000 shares of common stock, at an exercise price of $0.05 per share, with 100,000 shares of common stock vested on date of issuance and the remaining shares to vest 1/10th on the last day of each subsequent quarter beginning 03/31/16 until fully vested.
- F4Upon issuer's filing an amendment to its articles of incorporation effecting a reverse stock split and an increase in its authorized shares of common stock, all the outstanding shares of Series A Preferred Stock will immediately and automatically convert into shares of common stock, without any notice or action required on the part of the issuer or the reporting person.
- F5K - Transaction in equity swap or instrument with similar characteristics.