SEC Form 4 · accession 0001214782-15-000157
HYDROCARB ENERGY CORP · HECC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
S Chris Herndon
Director
Period of report
Aug 26, 2015
Accepted (ET)
Sep 25, 2015 · 2:50 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001425808
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 Subordinated Promissory NoteF1,F2 | $0.75 | Aug 26, 2015 | J | 1 | A | Aug 26, 2015 | Aug 26, 2018 | Common Stock | 133,333 | 1 | D |
Explanation of responses
- F1On August 26, 2015, Mr. Herndon subscribed for $100,000 in Convertible Subordinated Promissory Notes.
- F2All principal and accrued interest on the Convertible Subordinated Promissory Notes is convertible into common stock at a conversion price of $0.75 per share at any time. Additionally, the Registrant may force the conversion of the Convertible Subordinated Promissory Notes into common stock in the event the trading price of the Registrant's common stock is equal to at least $5.00 per share for at least 20 out of any 30 consecutive trading days. Any shares of common stock issuable upon conversion of the Convertible Subordinated Promissory Notes are subject to a lock-up whereby no shares of common stock can be sold until January 1, 2016, and no more than 2,500 shares of common stock can be sold per day thereafter until the Registrant's common stock is listed on the NASDAQ or NYSE market or the trading volume of the Registrant's common stock is in excess of 100,000 shares per day.