Gary Marino benefically owns 942,339 shares (3/02/11)
Controls 26.2 percent.
Based solely on information provided by the Company, there are currently 3,045,856 shares of Common Stock outstanding. Mr. Marino beneficially owns 942,339 shares of Common Stock, including 386,783 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, 8,000 shares of Series B Convertible Preferred Stock, that will become convertible into 355,556 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 26.2% 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 892,339 shares of Common Stock, including 386,783 shares of Common Stock, 3,000 shares of Series A Preferred Stock currently convertible into 150,000 shares of Common Stock and 8,000 shares of Series B Preferred Stock that will become convertible into 355,556 shares of Common Stock on October 15, 2013 or sooner upon the occurrence of certain events, or 25.1% of the Company’s outstanding Common Stock assuming conversion of the Series A and B Preferred Stock owned by Patriot Rail.
On March 2, 2011 Patriot Rail purchased 1,000 shares of Series B Convertible Preferred Stock of the Company in a private transaction at a price of $100 per share, or an aggregate purchase price of $100,000. These shares of preferred stock will become convertible into 44,444 shares of Common Stock on October 15, 2013 or sooner upon the occurrence of certain events. Mr. Marino and Patriot Rail have not effected any other unreported transactions in the Company’s Common Stock in the past 60 days.
Gary Marino benefically owns 1,713,497 shares (12/28/11)
Controls 42.8 percent.
Based solely on information provided by the Company, there are currently 3,045,856 shares of Common Stock outstanding. Mr. Marino beneficially owns 1,763,497 shares of Common Stock, including 686,283 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, 10,000 shares of Series B Convertible Preferred Stock, that will become convertible into 444,444 shares of Common Stock on October 15, 2013 or sooner upon the occurrence of certain events, and 7,850 shares of Series C Convertible Preferred Stock that will become convertible into 432,770 shares of Common Stock on June 30, 2014 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 42.8% of the Company’s outstanding Common Stock, assuming exercise of the options owned by Mr. Marino and conversion of the Series A, B and C Preferred Stock owned by Patriot Rail. Mr. Marino disclaims beneficial ownership of the shares held by Patriot Rail. Patriot Rail beneficially owns 1,713,497 shares of Common Stock, including 686,283 shares of Common Stock, 3,000 shares of Series A Preferred Stock currently convertible into 150,000 shares of Common Stock, 10,000 shares of Series B Preferred Stock that will become convertible into 444,444 shares of Common Stock on October 15, 2013 or sooner upon the occurrence of certain events, and 7,850 shares of Series C Convertible Preferred Stock that will become convertible into 432,770 shares of Common Stock on June 30, 2014 or sooner upon the occurrence of certain events, or 42.1% of the Company’s outstanding Common Stock assuming conversion of the Series A, B and C Preferred Stock owned by Patriot Rail.
On December 28, 2011, Patriot Rail purchased 1,000 shares of newly issued Series C Convertible Preferred Stock from the Company for $100 per share, or an aggregate purchase price of $100,000. Mr. Marino and Patriot Rail have not effected any other unreported transactions in the Company’s Common Stock in the past 60 days.
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