CVF LLC 4
4 · MEDIS TECHNOLOGIES LTD · Filed Nov 17, 2003
Insider Transaction Report
Form 4
CVF, LLC
10% OwnerOther
Transactions
- Other
Common Stock
2003-11-13$4.43/sh+136,316$603,880→ 2,249,801 total(indirect: See ftn.) - Other
Warrants
2003-11-13−136,316→ 0 total(indirect: See ftn.)Exercise: $4.92From: 2002-10-11Exp: 2004-12-31→ Common Stock (136,316 underlying) - Other
Warrants
2003-11-13+68,158→ 68,158 total(indirect: See ftn.)Exercise: $9.60From: 2003-11-13Exp: 2004-11-12→ Common Stock (68,158 underlying)
Footnotes (2)
- [F1]Richard Goodman is the Executive Manager of CVF, LLC, which beneficially owns the securities reported on this Form 4. Longview Management Group, LLC ("Longview") manages investment accounts for CVF, LLC, exercises voting and dispositive control over the securities held by CVF, LLC, and, accordingly, is deemed to beneficially own the securities reported on this Form 4. As President of Longview, James A. Star is deemed to beneficially own the securities reported on this Form 4. As the majority equity owner of Longview, the Edward Memorial Trust and its trustee, Geoffrey F. Grossman, are deemed to beneficially own the securities reported on this Form 4. Except for such deemed ownership, neither Mr. Goodman, Longview, Mr. Star, the Edward Memorial Trust, nor Mr. Grossman own any securities of the Issuer and each of them disclaim beneficial ownership of such securities.
- [F2]CVF, LLC exchanged 136,316 warrants issued pursuant to the Issuer's 2002 shareholder loyalty program (the "Shareholder Loyalty Warrants") for the same number of warrants exercisable at $4.43 per share (the "New Warrants") pursuant to an offer made by the Issuer to the holders of the Shareholder Loyalty Warrants. As a condition to the exchange, CVF, LLC was required to exercise all of the New Warrants immediately upon receipt. Each New Warrant was exercisable into one share of Common Stock and a warrant to purchase an additional share of Common Stock for $9.60 for every two New Warrants exercised.