5//SEC Filing
EMEX CORP 5
Accession 0000891554-02-000895
CIK 0000015678operating
Filed
Feb 14, 7:00 PM ET
Accepted
—
Size
16.8 KB
Accession
0000891554-02-000895
Insider Transaction Report
Form 4
No transactions or holdings reported in this filing.
Footnotes (4)
- [1]Thorn Tree Resources LLC, a Delaware limited liability company ("Thorn Tree") loaned to Emex Corporation (the "Issuer") the principal amount of $225,000 in May 2001. The outstanding principal of the loan accrues interest at the rate of 7 percent per annum. The outstanding principal and interest are due on July 31, 2002. From and after May 21, 2001, Thorn Tree had the right to convert the outstanding principal and interest to the Issuer's Common Stock at $10.00 per share. The number of underlying shares in item 7 above represents the number of shares of the Issuer's Common Stock that Thorn Tree would receive upon conversion of the entire principal amount, as adjusted to reflect a 2.5% dividend declared by the Issuer on December 31, 2001. The number does not take into account shares that would be received upon conversion of accrued interest.
- [2]Thorn Tree loaned to the Issuer the principal amount of $860,040 in June 2001. The outstanding principal of the loan accrues interest at a rate of 7 percent per annum. The outstanding principal and interest are due on July 31, 2002. From and after June 1, 2001, Thorn Tree had the right to convert the outstanding principal and interest to the Issuer's Common Stock at $10.00 per share. The number of underlying shares in item 7 above represents the number of shares of the Issuer's Common Stock that Thorn Tree would receive upon conversion of the entire principal amount, as adjusted to reflect a 2.5% dividend declared by the Issuer on December 31, 2001. The number does not take into account shares that would be received upon conversion of accrued interest.
- [3]Thorn Tree loaned to the Issuer the principal amount of $6,000,000 in October 2001. The outstanding principal of the loan accrues interest at the rate of the Prime Rate at J.P. Morgan Chase & Co. as of October 17, 2001 plus three percent per annum. The outstanding principal and interest are due on December 31, 2002. From and after October 17, 2001, Thorn Tree had the right to cause the outstanding debt to be converted to the Issuer's Common Stock at $7.00 per share. The number of underlying shares in item 7 above represents the number of shares of the Issuer's Common Stock that Thorn Tree would receive upon conversion of the entire principal amount, as adjusted to reflect a 2.5% dividend declared by the Issuer on December 31, 2001. The number does not take into account shares that would be received upon conversion of accrued interest.
- [4]In consideration of the loan in the principal amount of $6,000,000, Thorn Tree was granted warrants to purchase 500,000 shares of the Issuer's Common Stock at $7.00 per share. The warrants are exercisable at any time and expire on October 17, 2006. The number of underlying shares in item 7 above represents the number of shares of the Issuer's Common Stock that Thorn Tree would receive upon exercise of the warrants, as adjusted to reflect a 2.5% dividend declared by the Issuer on December 31, 2001. /s/ David H. Peipers February 15, 2002 - --------------------------------------------- ----------------------- **
Documents
Issuer
EMEX CORP
CIK 0000015678
Entity typeoperating
IncorporatedNV
Related Parties
1- filerCIK 0000015678
Filing Metadata
- Form type
- 5
- Filed
- Feb 14, 7:00 PM ET
- Size
- 16.8 KB