Gene Salkind, a major owner of Mobiquity Technologies, Inc. and a director of the company, recently acquired 408,000 shares of the company. The buys took place at $1.25 per share, on June 30, 2022. Salkind now owns 2,992,354 shares of the company. Salkind operates out of Shoreham, NY. Some additional info was provided as follows:
The 2,992,354 common shares includes shares owned directly by Dr. Salkind, the doctor and his wife and through a trust in which Dr. Salkind is the trustee. The derivative securities listed in Table II are derivative securities owned directly by Dr. Salkind and his wife and by the trust.
The board of directors of the issuer accepted Dr. Salkind's offer to convert $510,000 of convertible notes at a reduced conversion price of $1.25 per s hare into 408,000 common shares and warrants to purchase 204,000 shares at an exercise price of $4.00 per share through September 30, 2029.
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1,441,500 derivative securities include the following: (i) 390,625 common stock purchase warrants exercisable at $4.00 per share through September 2023; (ii) 10-year options to purchase 35,000 shares granted on December 8, 2021; and (iii) warrants to purchase 1,015,875 shares exercisable through September 30, 2029 which were issuable on June 30, 2022 as a result of the note conversion.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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