SEC Form 4 · accession 0001437749-18-013609
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
Jul 19, 2018
Accepted (ET)
Jul 23, 2018 · 3:36 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001574186
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantF1 | $1.00 | Jul 19, 2018 | P | 250,000 | A | Jul 19, 2018 | Jul 19, 2020 | Common Stock, par value $0.001 per share | 250,000 | 250,000 | D |
Explanation of responses
- F1On or about July 19, 2018, Mr. Smith loaned $250,000 to the Issuer, and in exchange received (a) a 10% secured convertible promissory note, payable quarterly in cash and maturing on July 19, 2020, which will convert into the Issuer's common stock automatically, if not repaid and if and when the Issuer issues securities at a price per share of less than $3.00 per share, at a conversion price per share equal to such lower price; and (b) a 2 year warrant dated July 19, 2018, exercisable into shares of the Issuer's common stock at $1.00 per share.