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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549ANNUAL STATEMENT 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 2270 (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 at End of Issuer's Fiscal Year (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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(A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | |||||||||
Common Stock Purchase Options | $ 0.6 | 05/01/2012 | 05/01/2012 | A4 | 50,000 | Â | Â (3) | Â (3) | Common Stock | $ 0.6 | 50,000 | Â | ||
Common Stock Purchase Warrants | $ 0.5 | Â | Â | Â | Â | Â | Â (4) | Â (4) | Common Stock | Â | 2,625,000 | Member of Associated Private Equity, LLC (2) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
BRAVERMAN NEIL K 4454 WAYSIDE DR NAPLES, FL 34119 |
 X |  |  |  |
/s/ Charles E Coppa, attorney in fact | 10/15/2012 | |
**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) | Associated Private Equity, LLC of which Mr. Braverman is a member received 24,869 shares of the Issuer's Common Stock as a payment-in-kind dividend on 105 shares of the Issuer's 10% Convertible Preferred Stock owned at the time of the dividend payment date. Mr. Braverman disclaims beneficial ownership of the reported securities except to the extend of his pecuniary interest therein. |
(2) | The reported securities are owned directly by Associated Private Equity, LLC, of which Mr. Braverman is a member. Mr Braverman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. |
(3) | Options vest equally over a term 5 years from date of grant and have a term of 10 years from date of grant. |
(4) | Common Stock Purchase Warrants are exercisable 5 months after issuance and have a term of 65 months from date of grant. |