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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 | ||||||||
Common Stock Warrants (right to buy) | $ 0.85 | 11/14/2014 | A | 24,545,455 | (3) | (3) | Common Stock | 24,545,455 | (1) | 24,545,455 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
HYDE JOSEPH R III 175 TOYOTA PLAZA 7TH FLOOR MEMPHIS, TN 38103 |
X | X |
/s/ Henry P. Doggrell, by Power of Attorney | 11/18/2014 | |
**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) | The reported securities are included within 24,545,455 immediately separable Units purchased by the reporting person directly from the Issuer for $0.675 per Unit. Each Unit consists of one share of Common Stock and one Warrant to purchase one share of Common Stock. |
(2) | The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in his report shall not be deemed an admission of beneficial ownership of the reported shares for the purpose of Section 16 or any other purpose. |
(3) | The Warrant is exercisable at any time and from time to time from and after the earlier of (i) the date the Issuer obtains the approval of its stockholders of an amendment to the Issuer's charter to increase the Issuer's authorized Common Stock to an amount necessary to effect the share settlement of the Warrant and all other warrants the Issuer issued and sold in the reported transaction or (ii) the trading day immediately prior to the occurrence of certain fundamental transactions involving the Issuer, but in no event later than June 1, 2015, and will continue to be exercisable for four years thereafter. |