SEC Form 4 · accession 0001617819-15-000078
BRIGHTLANE CORP. · BTLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brightlane Acquisition Corp
10% Owner
Period of report
Dec 9, 2015
Accepted (ET)
Dec 14, 2015 · 1:42 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001425289
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Series A Preferred Voting StockF1,F2 | Dec 9, 2015 | J | 1 | — | A | 1 | D | |
| Series B Preferred Voting StockF1,F3 | Dec 9, 2015 | J | 1 | — | A | 1 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Each Share of Series A Preferred Voting Stock and Series B Preferred Voting Stock is issued pursuant to the rights, preferences and limitations of such instruments and shall automatically be redeemed/cancelled by (a) repayment of or conversion of a $250,000 promissory note dated December 9, 2015; or (b) failure to meet its best effort obligation to provide and/or facilitate additional monies to be utilized by the Company in an amount of not less than $3 million prior to January 1, 2017.
- F2Each Series A Preferred Voting Stock shall be entitled to cast a number of votes equal to 20,000,000 Common Shares.
- F3Each Series B Preferred Voting Stock shall be entitled to cast a number of votes equal to 20,000,000 Common Shares.