SEC Form 4 · accession 0001520138-17-000330
GREY CLOAK TECH INC. · GRCK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Fred Covely
Officer — CEO · Director · 10% Owner
Period of report
Oct 17, 2017
Accepted (ET)
Oct 23, 2017 · 5:16 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001630176
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A Covertible Preferred StockF1,F3 | $0.00 | Oct 17, 2017 | A | 41,403 | A | Oct 17, 2017 | — | Common Stock | 6,555,322 | 41,403 | D |
| Convertible Promissory NoteF2 | — | Oct 17, 2017 | P | — | A | Oct 17, 2017 | Oct 17, 2018 | Common Stock | 4,285,715 | — | D |
| Warrrants | $0.25 | Oct 17, 2017 | P | 1,200,000 | A | Oct 17, 2017 | Oct 17, 2020 | Common Stock | 1,200,000 | 1,200,000 | D |
Explanation of responses
- F1Each share of the Series A Convertible Preferred Stock is convertible into the number of shares equal to 0.00006% of the Company's outstanding common stock immediately after conversion. As of October 20, 2017, the reporting person's Series A Convertible Preferred Stock was convertible into 6,555,322 shares of common stock.
- F2The Note has a $30,000 principal amount, bears interest at a rate of five percent per annum, and is convertible into shares of common stock at a conversion price equal to fifty percent (50%) of the average of the closing trading price for the Company's common stock during the three trading day period ending on the last trading day prior to the conversion date. As of October 20, 2017, that three day average was $0.014 per share, and the conversion price (50%) was $0.007 per share, for a total of 4,285,715 shares of common stock.
- F3Security does not expire.