Peara Tim 4
4 · Siberian Energy Group Inc. · Filed Dec 21, 2010
Insider Transaction Report
Form 4
Siberian Energy Group Inc.SIBN.OB
Peara Tim
Director
Transactions
- Other
Common Stock
2010-10-01$0.11/sh+2,786,009$306,461→ 2,963,578 total
Footnotes (1)
- [F1]In October 2010, the Issuer entered into Debt Conversion Agreements with nine (9) creditors of the Issuer including Alternative Energy Finance (which is an entity controlled by Mr. Peara), which converted $158,924 of debt owed to it by the Issuer into 1,444,767 shares of restricted common stock, which were issued in Mr. Peara's name, and Mr. Peara, who converted $147,537 of debt owed to him by the Issuer into 1,341,242 shares of restricted common stock at the rate of one share for each $0.11 of debt converted (the "Conversion"). The Conversion price of $0.11 per share was calculated based on the average market price of the Issuer's common stock on the Over-The-Counter Bulletin Board for the six months prior to September 30, 2010.