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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 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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1. Title of Derivative Security | 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 | 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 Securities Underlying Derivative Security (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) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| $1.25 | 06/30/2022 | C | 510,000 | 09/13/2019 | 09/13/2029 | Common Stock | 510,000 | (3) | 0 (4) | D | |||||
| $4 | 06/30/2022 | C | 204,000 | 06/30/2022 | 09/30/2029 | Common Stock | 204,000 | (3) | 1,441,500 (5) | D | |||||
The 2,992,354 common shares includes shares owned directly by Dr. Salkind, the doctor and his wife and through a trust in which Dr. Salkind is the trustee. The derivative securities listed in Table II are derivative securities owned directly by Dr. Salkind and his wife and by the trust. | |
The board of directors of the issuer accepted Dr. Salkind's offer to convert $510,000 of convertible notes at a reduced conversion price of $1.25 per share into 408,000 common shares and warrants to purchase 204,000 shares at an exercise price of $4.00 per share through September 30, 2029. | |
Not applicable. | |
Left blank intentionally. | |
1,441,500 derivative securities include the following: (i) 390,625 common stock purchase warrants exercisable at $4.00 per share through September 2023; (ii) 10-year options to purchase 35,000 shares granted on December 8, 2021; and (iii) warrants to purchase 1,015,875 shares exercisable through September 30, 2029 which were issuable on June 30, 2022 as a result of the note conversion. |
| Signatures | ||
/s/ Gene Salkind | 07/05/2022 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * 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). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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