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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 | ||||||||
Option | $ 0.06 | 09/23/2015 | P | 1,000,000 (1) | 01/01/2016 | 12/31/2018 | Common Stock | 1,000,000 | $ 0.06 | 1,466,667 (3) | D | ||||
Option | $ 0.06 | 03/17/2016 | P | 1,000,000 (2) | 03/17/2016 | 03/17/2019 | Common Stock | 1,000,000 | $ 0.06 | 2,466,667 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
WOMACK LEO B 710 N. POST OAK ROAD SUITE 400 HOUSTON, TX 77024 |
X | X |
/s/ Leo B Womack | 04/04/2016 | |
**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) | On September 23, 2015, the reporting person was granted qualified stock options to purchase 1,000,000 shares of common stock of the issuer as part of the 2015 Director's Compensation Plan. |
(2) | On March 17, 2016, the reporting person was granted an option to acquire 1,000,000 shares of the Corporation's common stock at a strike price of .06 cents per share, exercisable for a period of 36 months from March 17, 2016. This grant is part of the 2016 Director's Compensation Plan and in the event a Director resigns or is removed for due cause during 2016 the option shares shall be reduced by a pro-rata amount based on the period of non-service. |
(3) | On June 26, 2015, the reporting person reported the acquisition of a Warrant for 300,000 shares of the issuer's common stock, which such transaction was previously reported on Form 4. As a result of that transaction, the number of derivative securities beneficially owned following that reported transaction should have indicated a total of 466,667 shares of common stock of the issuer, including the Warrants reported on May 13, 2015. |