SEC Form 3 · accession 0001079974-15-000012
Virtual Sourcing, Inc.
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gallant Acquisitions Corp.
Officer — President · Director · 10% Owner
Period of report
Jan 8, 2015
Accepted (ET)
Jan 8, 2015 · 5:51 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001600103
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 55,000,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A Preferred StockF3,F1,F2 | — | holding | — | — | — | — | — | Common Stock | — | — | D |
| Series B Preferred StockF4,F1,F2 | — | holding | — | — | — | — | — | Common Stock | — | — | D |
Explanation of responses
- F1Any
- F2None
- F3Gallant Acquisitions Corp. holds 999 Series A Preferred Shares, which is equal to 100% of the Series A Preferred Shares outstanding. The Preferred Series A Shares carry voting rights of 50.1% of the common stock able to vote or consent to any action requiring a vote regardless of the amount of common stock outstanding. The Series A Preferred Stock is also convertible at a price of $100 divided by the lowest of the closing bid price for the 20 days prior to the conversion request, but at no time less than $0.001. At no time can the Series A Preferred Shares be converted in a way that would result in the beneficial ownership of more than 9.9% of the outstanding shares of the company.
- F4Gallant Acquisitions Corp. owns 100 Series B Preferred Shares, which is equal to 36.2% of the Series B Preferred Shares outstanding. The Preferred Series B Shares carry no voting rights. The Series B Preferred Stock is convertible at a price of $1,000 divided by $0.01, or 100,000 common shares for every 1 share of Series B Preferred Stock. At no time can the Series B Preferred Stock be converted in a way that would result in the beneficial ownership of more than 9.9% of the outstanding shares of the company.
Remarks
Gallant Acquisitions Corp. is owned solely by Mario Faraone, who is the sole director and the president of Virtual Sourcing, Inc.