4//SEC Filing
Kanavos Paul 4
Accession 0001209191-10-043208
CIK 0001410402other
Filed
Aug 17, 8:00 PM ET
Accepted
Aug 18, 4:23 PM ET
Size
9.6 KB
Accession
0001209191-10-043208
Insider Transaction Report
Form 4
Kanavos Paul
DirectorPresident10% Owner
Transactions
- Award
Series B Convertible Preferred Stock
2010-08-17+50→ 50 totalExercise: $0.19→ Common Stock - Award
Common Stock Warrants (right to buy)
2010-08-17+50→ 50 totalExercise: $0.24From: 2010-08-17Exp: 2015-08-17→ Common Stock (625,390 underlying)
Footnotes (3)
- [F1]The reported securities are included within 50 Units purchased by the Reporting Person and his spouse, Dayssi Olarte de Kanavos, as joint tenants, from the Issuer for $50,000 in a private placement. Each Unit consists of one share of Series B Convertible Preferred Stock and one warrant to purchase up to 12,507.8 shares of common stock at $0.2399 per share.
- [F2]The shares of Series B Convertible Preferred Stock are convertible, at the option of the Reporting Person, into shares of Issuer common stock at the above conversion price if at any time the closing price of the shares of Issuer common stock is at least the conversion price for ten (10) consecutive trading days. Each time, for a period of 60-days thereafter, the shares of Series B Convertible Preferred Stock are convertible into the number of shares of Issuer common stock equal to the then current stated value (initially $1,000, subject to increase periodically to include any accrued and unpaid dividends) divided by the conversion price.
- [F3]Upon the earlier of: (x) consummation of the Issuer's sale (or series of related sales) of its capital stock (or securities convertible into its capital stock) from which the Issuer generates net proceeds of at least $25 million or (y) August 17, 2015 the Series B Convertible Preferred Stock shall automatically convert into the number of shares of Issuer common stock equal to the then current stated value divided by the conversion price. If at any time the closing price of the shares of Issuer common stock is at least $1.59 per share for fifteen (15) consecutive trading days, the Issuer may redeem the outstanding Series B Convertible Preferred Stock at the then current stated value. Series B Convertible Preferred Stock is redeemable each time in whole or in part for a period of 120-days thereafter..
Documents
Issuer
FX Real Estate & Entertainment Inc.
CIK 0001410402
Entity typeother
Related Parties
1- filerCIK 0001373244
Filing Metadata
- Form type
- 4
- Filed
- Aug 17, 8:00 PM ET
- Accepted
- Aug 18, 4:23 PM ET
- Size
- 9.6 KB