SEC Form 4 · accession 0001414860-15-000001

Applied Minerals, Inc. · AMNL

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

10% Owner

Period of report

Feb 12, 2015

Accepted (ET)

Feb 17, 2015 · 3:59 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000008328

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F2,F1,F3	Feb 12, 2015	A	50,000	$0.66	A	22,381,153	I	See footnotes

No Table II lines on this filing.

F1This Form 4 is being filed on behalf of IBS Capital LLC ("IBS Capital") and The IBS Turnaround Fund (QP) (A Limited Partnership) (the "QP Fund") (IBS Capital and the QP Fund are each a "Reporting Person" and collectively the "Reporting Persons"), each of which has the same business address and may have a pecuniary interest in the securities reported herein. IBS Capital is the general partner of QP Fund and The IBS Turnaround Fund, L.P. (the "LP Fund"). IBS Capital is the investment manager of The IBS Opportunity Fund, Ltd. (the "Opportunity Fund") (the QP Fund, the LP Fund and the Opportunity Fund are hereinafter referred to as the "IBS Capital Funds").
F2David A. Taft ("Taft"), President and a member of IBS Capital, received 50,000 shares of the Issuer's Common Stock (the "Shares") as compensation for his service as a director of the Issuer. The Shares will be allocated to the IBS Capital Funds so that, following such allocation: (i) 13,814,050 shares of the Issuer's Common Stock were directly beneficially owned by QP Fund, (ii) 6,572,509 shares of the Issuer's Common Stock were directly beneficially owned by LP Fund and (iii) 1,994,594 shares of the Issuer's Common Stock were directly beneficially owned by Opportunity Fund (for the avoidance of doubt, the Opportunity Fund was not allocated any of the Shares).
F3The Reporting Persons each disclaim any beneficial ownership of the securities except to the extent of any pecuniary interest.