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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
warrants | $ 0.25 (3) | 09/15/2008(4) | A | 156,281 | 09/15/2008 | 07/30/2011 | common | 156,281 | $ 0 (5) | 156,281 | D | ||||
warrants | $ 0.25 (3) | 09/15/2008(6) | A | 191,733 | 09/15/2008 | 01/02/2012 | common | 191,733 | $ 0 (5) | 348,014 | D | ||||
convertible note | $ 0.25 | 09/15/2008 | A | $ 608,668 | 09/15/2008 | 07/01/2010 | common | 2,434,672 | $ 0 (7) | 2,782,686 | D | ||||
warrants | $ 0.25 (8) | 04/13/2005 | 04/13/2009 | common | 114,684 | 114,684 | I | Trustee (1) | |||||||
warrants | $ 0.25 (3) | 09/15/2008(4) | A | 67,730 | 09/15/2008 | 07/30/2011 | common | 67,730 | $ 0 (5) | 182,414 | I | Trustee (1) | |||
warrants | $ 0.25 (3) | 09/15/2008(6) | A | 180,048 | 09/15/2008 | 01/02/2012 | common | 180,048 | $ 0 (5) | 362,462 | I | Trustee (1) | |||
convertible note | $ 0.25 | 09/15/2008 | A | $ 551,598 | 09/15/2008 | 07/01/2010 | common | 2,206,392 | $ 0 (9) | 2,568,854 | I | Trustee (1) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
KIELY JOHN R III 17817 DAVIS ROAD DUNDEE, MI 48131 |
X |
JOHN R. KIELY, III | 09/17/2008 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Trustee means Trustee of the John R. & Margaret Lee Kiely 1979 Trust |
(2) | Custodial relationship lapsed when my two children reached age 21 in May 2003 and October 2007 respectively |
(3) | exercise price of warrants lowered from $1.60 per share to $0.25 per share effective September 15, 2008 |
(4) | warrants issued July 30, 2007 -- but were blocked from exercise until September 15, 2008 |
(5) | warrants were acquired in conjunction with a note of issuer |
(6) | warrants issued January 2, 2008 -- but were blocked from exercise until September 15, 2008 |
(7) | convertible note acquired in exchange for other short term secured notes of issuer (principal value $575,750 plus $32,918 accured interest due thereon) |
(8) | exercise price lowered from $1.00 per share to $0.25 per share September 15, 2008 |
(9) | convertible note acquired in exchange for other short term secured notes of issuer (principal value $524,250 plus $27,348 accrued interest due thereon) |