SEC Form 4 · accession 0001185185-16-005475
Quadrant 4 System Corp · QFOR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dhru Desai
Officer — Chairman of the Board and CFO · Director · 10% Owner
Period of report
May 20, 2010
Accepted (ET)
Sep 22, 2016 · 5:08 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000878802
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 20, 2010 | P$0 | 1,000,000 | — | A | 1,000,000 | D | |
| Common StockF1 | May 20, 2010 | P$0 | 1,000,000 | — | A | 1,000,000 | I | By Spouse |
| Common StockF1,F2 | May 20, 2010 | P$0 | 3,000,000 | — | A | 3,000,000 | I | By Trust |
| Common StockF1,F3 | May 20, 2010 | P$0 | 750,000 | — | A | 750,000 | I | By Corp. |
| Common StockF4 | Jan 13, 2014 | P | 4,246,916 | $0.78 | A | 4,246,916 | I | By Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrants (right to buy)F5 | $0.10 | Jul 1, 2013 | A | 1,250,000 | A | Jul 1, 2013 | Jul 1, 2018 | Common Stock | 1,250,000 | 1,250,000 | D |
| Warrants (right to buy)F6 | $0.01 | Oct 9, 2015 | A | 1,153,847 | A | Oct 9, 2015 | Oct 8, 2020 | Common Stock | 1,153,847 | 1,153,847 | D |
Explanation of responses
- F1Shares acquired by the reporting person pursuant to a Share Exchange Agreement between the Issuer and Stonegate Holdings, Inc. (no price indicated).
- F2Shares acquired by a trust for the benefit of the reporting person's children. The reporting person's spouse is trustee of the trust. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
- F3Shares acquired by a trust for the benefit of the reporting person's children in a private transaction. The reporting person's spouse is trustee of the trust. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
- F4Shares acquired by the reporting person, indirectly via Congruent Ventures, a corporation of which the reporting person is the sole shareholder, pursuant to a Share Exchange Agreement between the Issuer and Stonegate Holdings, Inc. (no price indicated).
- F5Grant in connection with service as a director of the Issuer.
- F6Grant in connection with service as an executive officer of the Issuer.
Remarks
The reporting person inadvertently failed to timely file Form 4 in connection with the transactions reported above. See also the Form 3 filing made by the reporting person as of the date of this filing, which, together with this Form 4, collectively report all of the Reporting Person's holdings of, and transactions in, the Issuer's equity securities.