SEC Form 4 · accession 0001630761-17-000002
SKYX Platforms Corp. · SKYX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dov Shiff
Director · 10% Owner
Period of report
Aug 15, 2016
Accepted (ET)
Mar 31, 2017 · 10:57 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001598981
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Secured Convertible Promissory NoteF1 | $0.25 | Aug 15, 2016 | C | 2,600,000 | D | — | — | Common Stock, no par value | 2,600,000 | 0 | D |
| Series A Convertible Preferred Stock, no par valueF1 | — | Aug 15, 2016 | C | 2,600,000 | A | — | — | Common Stock, no par value | 2,600,000 | 2,600,000 | D |
Explanation of responses
- F1Prior to the Company's registration of its Common Stock under Section 12(g) of the Securities Exchange Act of 1934, as amended, on April 6, 2015, Mr. Shiff had purchased from the Company a two-year 12% Secured Convertible Promissory Note (the "Note"). Per the terms of the Note, it was convertible into 2,600,000 shares of the Company's Common Stock. On August 15, 2016, the Company and Mr. Shiff amended the Note such that it would instead be convertible into 2,600,000 shares of the Company's Series A Convertible Preferred Stock, no par value (the "Preferred Stock") and on the same date, the Note was converted in full. The Preferred Stock is convertible into the Company's Common Stock on a 1:1 basis.