Followers | 240 |
Posts | 12044 |
Boards Moderated | 1 |
Alias Born | 04/05/2009 |
Thursday, January 27, 2011 11:56:45 PM
Controls 24.3 percent.
Based solely on information provided by the Company, there are currently 3,045,856 shares of Common Stock outstanding. Mr. Marino beneficially owns 853,443 shares of Common Stock, including 386,776 shares of Common Stock owned by Patriot Rail, 3,000 shares of Series A Convertible Preferred Stock, currently convertible into 150,000 shares of Common Stock, owned by Patriot Rail, 6,000 shares of Series B Convertible Preferred Stock, that will become convertible into 266,667 shares of Common Stock on October 15, 2013 or sooner upon the occurrence of certain events, owned by Patriot Rail, and 50,000 options to purchase shares of Common Stock, or in total 24.3% of the Company’s outstanding Common Stock, assuming exercise of the options owned by Mr. Marino and conversion of the Series A and B Preferred Stock owned by Patriot Rail. Mr. Marino disclaims beneficial ownership of the shares held by Patriot Rail. Patriot Rail beneficially owns 803,443 shares of Common Stock, including 386,776 shares of Common Stock, 3,000 shares of Series A Preferred Stock currently convertible into 150,000 shares of Common Stock and 6,000 shares of Series B Preferred Stock that will become convertible into 266,667 shares of Common Stock on October 15, 2013 or sooner upon the occurrence of certain events, or 23.2% of the Company’s outstanding Common Stock assuming conversion of the Series A and B Preferred Stock owned by Patriot Rail.
http://sec.gov/Archives/edgar/data/764897/000114420411003876/v208905_sc13da.htm
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