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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 | |||||||||
Stock Option (Right to Buy) | $ 1.14 | Â | Â | Â | Â | Â | 06/16/2009 | 04/26/2014 | Common Stock, $.01 par value per share | Â | 250,000 | Â | ||
Stock Option (Right to Buy) | $ 1.78 | Â | Â | Â | Â | Â | 12/31/2009 | 06/07/2014 | Common Stock, $.01 par value per share | Â | 500,000 | Â | ||
Stock Option (Right to Buy) | $ 1.14 | Â | Â | Â | Â | Â | Â (4) | 04/26/2014 | Common Stock, $.01 par value per share | Â | 250,000 | Â | ||
Stock Option (Right to Buy | $ 1.78 | Â | Â | Â | Â | Â | Â (4) | 06/07/2019 | Common Stock, $.01 par value per share | Â | 1,000,000 | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
BERNSTEIN JOSEPH E 6663 CASA GRANDE WAY DELRAY BEACH, FL 33446 |
 |  |  CEO |  |
/s/ Joseph E. Bernstein | 01/06/2010 | |
**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) | On December 30, 2009, Mr. Bernstein made a gift of 60,000 shares of the Company to his six children: 50,000 of these shares are held by Mr. Bernstein's wife, Nora Bernstein, as custodian for Mr. Bernstein's children and 10,000 are held by an emancipated adult child of Mr. Bernstein. Mr. Bernstein disclaims beneficial ownership of these shares. |
(2) | These shares are held by Mr. Bernstein's wife, Nora Bernstein, as custodian for Mr. Bernstein's children, including the gift of 50,000 shares referenced in footnote 1 above. |
(3) | These shares are held by Bernstarz LLC. Mr. Bernstein is the sole member of and holds 100% of the membership interests of Bernstarz LLC. |
(4) | The Company has disputed the vesting of these options and Mr. Bernstein subsequently filed notice of his claims against the Company on December 31, 2009. |