UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 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. | SEC 1473 (7-02) | ||
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. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Call Option (right to buy) | 12/02/2013 | 12/02/2021 | Common Stock | 534,000 | $ (2) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Gerretzen Fred 16767 N PERIMETER DRIVE SUITE 240 SCOTTSDALE, AZ 85260 |
X |
/s/ Robin C. Friedman | 11/10/2014 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(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 Joint Franchise Co., LLC is wholly-owned by The Joint Interest Holder Trust, of which Dr. Gerretzen is the trustee. |
(2) | Exercise price per share increases each year over an 8-year period, beginning on December 2, 2013 and on December 2 each year thereafter as follows: Year 1: $0.56, Year 2: $0.68, Year 3: $0.84, Year 4: $1.03. Year 5: $1.28, Year 6: $1.59, Year 7 $1.97:, Year 8 $: $2.46 |