4//SEC Filing
PASSPORT POTASH INC 4
Accession 0001144204-14-071809
CIK 0001508128operating
Filed
Dec 1, 7:00 PM ET
Accepted
Dec 2, 2:29 PM ET
Size
20.0 KB
Accession
0001144204-14-071809
Insider Transaction Report
Form 4
Frost Gamma Investments Trust
10% Owner
Transactions
- Disposition to Issuer
15% Convertible Debenture
2013-02-19$250000.00/sh→ 0 total(indirect: By Trust)Exercise: $0.19From: 2013-02-19Exp: 2014-02-19→ Common Stock - Award
9.5% Convertible Debenture
2014-02-06(indirect: By Trust)Exercise: $0.12From: 2014-02-19Exp: 2016-08-19→ Common Stock - Award
Warrant
2014-02-06+625,000→ 625,000 total(indirect: By Trust)Exercise: $0.12From: 2014-02-19Exp: 2016-08-19→ Common Stock (625,000 underlying) - Disposition to Issuer
Warrant
2013-02-19−1,250,000→ 0 total(indirect: By Trust)Exercise: $0.19From: 2013-02-19Exp: 2014-02-19→ Common Stock (1,250,000 underlying)
FROST PHILLIP MD ET AL
10% Owner
Transactions
- Disposition to Issuer
Warrant
2013-02-19−1,250,000→ 0 total(indirect: By Trust)Exercise: $0.19From: 2013-02-19Exp: 2014-02-19→ Common Stock (1,250,000 underlying) - Disposition to Issuer
15% Convertible Debenture
2013-02-19$250000.00/sh→ 0 total(indirect: By Trust)Exercise: $0.19From: 2013-02-19Exp: 2014-02-19→ Common Stock - Award
9.5% Convertible Debenture
2014-02-06(indirect: By Trust)Exercise: $0.12From: 2014-02-19Exp: 2016-08-19→ Common Stock - Award
Warrant
2014-02-06+625,000→ 625,000 total(indirect: By Trust)Exercise: $0.12From: 2014-02-19Exp: 2016-08-19→ Common Stock (625,000 underlying)
Footnotes (5)
- [F1]On February 6, 2014 the 15% debenture note and warrants (the "Original Note and Warrants") were amended to extend the maturity date from February 19, 2014 to August 19, 2016. The Original Note interest rate changed from 15% to 9.5% payable in 50% cash and 50% shares, at the end of each year from the issue date. At the sole option of the holder, holder may elect to receive interest payments entirely in shares of common stock. Additionally the conversion price of the Original Note and Warrants exercise price changed from $0.19 to $0.12 given effect to a 2 for 1 reverse stock split effectuated on March 13, 2014. The amended debenture note is convertible into 2,395,834 shares of common stock at any time before maturity without giving effect to accrued interest.
- [F2]The Original Note had an aggregate principal amount of $250,000 and bore interest at a rate of 15% per annum, maturing one year from the date of issuance. The Original Note was convertible into 1,315,790 shares of common stock at any time before maturity at $0.19 per share without giving effect to accrued interest. The Original Note was amended as provided in Note 1 above.
- [F3]Frost Gamma Investments Trust purchased the Original Note and Warrants for an aggregate purchase price of $250,000.
- [F4]Includes interest on February 19, 2014 of $37,500 which was reinvested into the amended debenture note.
- [F5]These securities are held by Frost Gamma Investments Trust, of which the Reporting Person is the trustee and Frost Gamma Limited Partnership is the sole and exclusive beneficiary. The Reporting Person is one of two limited partners of Frost Gamma, L. P. The general partner of Frost Gamma, L.P. is Frost Gamma, Inc., and the sole shareholder of Frost Gamma, Inc. is Frost-Nevada Corporation. The Reporting Person is also the sole shareholder of Frost-Nevada Corporation.
Issuer
PASSPORT POTASH INC
CIK 0001508128
Entity typeoperating
IncorporatedBritish Columbia, Canada
Related Parties
1- filerCIK 0001508128
Filing Metadata
- Form type
- 4
- Filed
- Dec 1, 7:00 PM ET
- Accepted
- Dec 2, 2:29 PM ET
- Size
- 20.0 KB