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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option | $ 5.4 | 03/29/2018 | H | 20,833 | (1) | 09/29/2027 | Common Stock | 20,833 | $ 0.0263 (1) | 150,000 | D | ||||
Stock Option | $ 2.4 | 03/29/2018 | H | 125,000 | (1) | 02/21/2023 | Common Stock | 125,000 | $ 3.1763 (1) | 25,000 | D | ||||
Stock Option | $ 8.04 | 03/29/2018 | H | 25,000 | (1) | 10/30/2020 | Common Stock | 25,000 | $ 0 (1) | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Sandford Frederick J 3609 S WADSWORTH BLVD. SUITE 250 LAKEWOOD, CO 80235 |
Former CEO & Director |
/s/Frederick J Sandford | 04/20/2018 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | (1) Pursuant to the settlement agreement dated March 28, 2018, the Issuer paid to the reporting owner an amount equal to 105% of the value of unexercised options, whether vested or not. Such options were then cancelled. The value of the unexercised options was determined as follows: From the average of the Bid and Asked prices of the Company's common stock quoted on the OTCOB system at the close of business on March 29, 2018, the option exercise price contained in the relevant Stock Option Grant Agreements was subtracted, then the result (not less than zero) was multiplied by the number of unexercised options. |