J. Steven Beabout, a director of TransBiotec, Inc., has just filed an initial statement of beneficial ownership where 25,482 shares of TransBiotec, Inc. were declared. This form is usually filed as a prelude to receiving options or buying company shares, so there may be more to come from Beabout. Beabout operates out of Boulder, CO. Some additional info was provided as follows:
The promissory note does not expire.
The Reporting Person owns 94.242% of Sky Startups, LLC. Sky Startups, LLC can convert its promissory note into 120,000 shares of the Issuer's common stock. The entire amount of shares that could be issued to Sky Startups, LLC is listed on this Form 3.
The 8% Series A-1 Convertible Preferred Stock does not have an expiration date.
The number of shares is variable based on the average closing price of the Issuer's common stock. The 118,909 shares is estimated based on the closing stock price of $2.75 on December 18, 2020.
Siena Properties, LLC, an entity owned by the Reporting Person, owns 5% of SOBR Safe, LLC, which owns the 8% Series A-1 Convertible Preferred Stock of the Issuer. The number of shares shown on the Form 3 is only the estimated number of shares of the Issuer's common stock Siena Properties, LLC would be entitled to upon conversion of the 8% Series A-1 Convertible Preferred Stock.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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