SEC Form 4 · accession 0001186676-17-000002
Zero Gravity Solutions, Inc. · ZGSI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael T Smith
Director
Period of report
Mar 1, 2017
Accepted (ET)
Mar 9, 2017 · 5:57 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001574186
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.001 per shareF1 | Mar 1, 2017 | M | 350,000 | $1.50 | A | 1,050,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantF1 | $1.50 | Mar 1, 2017 | X | 350,000 | D | Jul 20, 2015 | Jul 20, 2020 | Common Stock, Par Value $0.001 per share | 350,000 | 200,000 | D |
| WarrantF1 | $4.50 | Mar 1, 2017 | J | 350,000 | A | Mar 2, 2017 | Mar 2, 2022 | Common Stock, Par Value $0.001 per share | 350,000 | 550,000 | D |
Explanation of responses
- F1As referenced in Mr. Smith's Form 4 filed on 07/21/2015, Mr. Smith had originally been issued a warrant to purchase 350,000 shares of the Company's common stock ("Original Warrant") as additional consideration for a loan made by Mr. Smith to the Company. The Original Warrant was then amended to reduce the exercise price to $1.50, as reflected in the Amended Form 4 filed on 03/09/2017. The Company and Mr. Smith agreed that Mr. Smith would exercise the Original Warrant upon the reduction of the exercise price of the Original Warrant. Further, the Company and Mr. Smith agreed that the Company would then issue a new warrant to Mr. Smith with an exercise price of $4.50 per share.