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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 | ||||||||
Stock options | $ 0.2 | 01/12/2005 | A | 1,000,000 | 01/12/2006(3) | 01/12/2015 | Common stock | 1,000,000 | $ 0 (2) | 1,000,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
SCHORMANN CHRISTIAN 550 W. CYPRESS CREEK ROAD SUITE 410 FORT LAUDERDALE, FL 33309 |
Vice President |
Christian Schormann, by Gerard Herlihy, Attorney-in-Fact | 01/26/2005 | |
**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) | Reperesents shares issued in connection with employment agreement that are subject to a lapsing right of forfeiture with respect to 62,500 shares on January 12, 2006, and at a rate of 5,208 shares per month for each of the succeeding 36 months commencing February 12, 2006. |
(2) | Granted pursuant to an Employment Agreement dated January 12, 2005 between the Issuer and the Reporting Person. |
(3) | On January 12, 2006, options to purchase 250,000 shares will vest. Options to purchase 20,833 shares shall vest each month for 36 months commencing February 12, 2006. |