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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 | ||||||||
Option (right to sell) (1) | $ 2.83 (2) | 12/22/2008 | O | 14,676,815 | 05/03/2007 | 05/03/2014 | Common Stock | 14,676,815 | $ 0 | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
AKAZAWA HISASHI #301 TAKESHIRODAI 1-1-3 MINAMI-KU SAKAI- SHI OSAKA, MO, F4 590-0105 |
X |
/s/ Hisashi Akazawa | 12/23/2008 | |
**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) | Pursuant to an Option Agreement between the Reporting Person and Mr. Si Chen, dated May 3, 2007, the Reporting Person granted an option to Mr. Chen to purchase 627,897 shares of the Issuer's Series B Voting Convertible Preferred Stock held by the Reporting Person along with any shares of Common Stock that such Series B Voting Convertible Preferred Stock may be converted into. On July 17, 2007, the shares of Series B Voting Convertible Preferred Stock automatically converted on the basis of 767.635 shares of Common Stock for each one share of Series B Voting Convertible Preferred Stock and all shares of Common Stock were subsequently subject to a 1-for-32.84 reverse split by the Issuer. |
(2) | Payment of the exercise price was waived. |