SUTTON JOSEPH 4
4 · CONNECTIVCORP · Filed Apr 15, 2004
Insider Transaction Report
Form 4
CONNECTIVCORPMJSH.OB
SUTTON JOSEPH
EVP10% Owner
Transactions
- Other
Warrant to purchase common stock, par value $.001 per share
2004-04-13+500,000→ 500,000 totalExercise: $1.00From: 2004-04-13Exp: 2007-04-13→ Common Stock (500,000 underlying) - Other
7% convertible preferred stock, par value $.001 per share
2004-04-13+50→ 50 totalExercise: $10000.00From: 2004-04-13→ Common Stock (500,000 underlying)
Footnotes (2)
- [F1]The securities were issued to the reporting person in exchange for the repayment of $500,000 of a $1.8 million loan previously made by the reporting person to Majesco Sales Inc., the wholly-owned subsidiary and sole operating company of the Issuer. The balance of such loan was repaid in full to the reporting person in cash. The Issuer and the reporting person agreed to this exchange in conjunction with the private placement of the Issuer, which closed on February 25, 2004, and after receiving shareholder approval for such exchange, the transaction became effective on April 13, 2004.
- [F2]Not Applicable.