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, 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. | 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 | ||||
Non-qualified stock option | 11/01/2014(1) | 10/31/2023 | Common Stock | 2,000,000 (2) | $ 0.51 | D | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
McRee Sandra K 405 STATE HIGHWAY 121, SUITE B-240 LEWISVILLE, TX 75067 |
 |  |  COO |  |
/s/ Sandra K. McRee | 03/28/2014 | |
**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 2,000,000 shares underlying the option vest over three years on the anniversary date of the option; therefore, approximately 666,666 shares are exercisable on each of November 1, 2014, 2015 and 2016. |
(2) | This amendment to Form 3 filed on 01/02/14 is being filed to reduce the number of shares underlying the non-qualified stock option issued as of 11/01/14 due to the discovery that the plan under which the option was issued limits the total ownership of each participant to a maximum of 2 million shares. |