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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Emtec Inc (CE) | USOTC:ETEC | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.15 | 0.00 | 01:00:00 |
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
|
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
|
OMB APPROVAL
OMB Number: 3235-0287 Expires: February 28, 2011 Estimated average burden hours per response... 0.5 |
|
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 |
|
1. Name and Address of Reporting Person
*
Desai Dinesh |
2. Issuer Name
and
Ticker or Trading Symbol
EMTEC INC/NJ [ ETEC.OB ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__ X __ Director __ X __ 10% Owner __ X __ Officer (give title below) _____ Other (specify below) Chairman, CEO and President |
11 DIAMOND RD |
3. Date of Earliest Transaction
(MM/DD/YYYY)
|
|
SPRINGFIELD, NJ 07081 |
4. If Amendment, Date Original Filed
(MM/DD/YYYY)
|
6. Individual or Joint/Group Filing
(Check Applicable Line)
_ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person |
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
||||||||||
1.Title of Security
(Instr. 3) |
2. Trans. Date | 2A. Deemed Execution Date, if any |
3. Trans. Code
(Instr. 8) |
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) |
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) |
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price |
Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) |
|||||||||||||||
1. Title of Derivate Security
(Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any |
4. Trans. 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 |
7. Title and Amount of Securities Underlying Derivative Security
(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) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Common Stock Warrant (right to buy) | (1) | 8/2/2010 | D | 1.0000 (1) | 8/5/2005 | 8/5/2010 | Common Stock | 1401733.0000 | (2) | 0.0000 | I | By DARR Westwood LLC (3) | |||
Common Stock Warrant (right to buy) | $2.1100 | 8/2/2010 | A | 1.0000 (1) | 8/2/2010 | 8/2/2015 | Common Stock | 1401733.0000 | (2) | 1401733.0000 | I | By DARR Westwood LLC (3) |
Explanation of Responses: | |
( 1) | The exercise price was $2,956,601.60 divided by that number of shares of common stock of Emtec, Inc. as would have equaled 8% of Emtec, Inc. common stock outstanding at the time of and after giving effect to the exercise of the warrant on a fully diluted basis. |
( 2) | Represents an exchange of warrants with the issuer pursuant to a letter agreement dated August 2, 2010, between Emtec, Inc. and DARR Westwood LLC, which was approved by the board of directors of the issuer. A copy of the letter agreement is filed as Exhibit 10.1 to the Current Report of Emtec, Inc. on Form 8-K filed with the SEC on August 6, 2010. |
( 3) | The reporting person is the sole member of DARR Westwood LLC. The reporting person disclaims beneficial ownership of any securities, and any proceeds thereof, that exceed his pecuniary interest therein. |
Reporting Owners
|
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Reporting Owner Name / Address |
|
||||
Director | 10% Owner | Officer | Other | ||
Desai Dinesh
11 DIAMOND RD SPRINGFIELD, NJ 07081 |
X | X | Chairman, CEO and President |
|
Signatures
|
||
/s/ Dinesh Desai | 8/20/2010 | |
** Signature of Reporting Person |
Date
|
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |
* | 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). |
Note: | File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. |
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. |
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