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ZGSI Zero Gravity Solutions Inc (CE)

0.000001
0.00 (0.00%)
11 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Zero Gravity Solutions Inc (CE) USOTC:ZGSI 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% 0.000001 0.00 00:00:00

Statement of Changes in Beneficial Ownership (4)

13/07/2018 2:48pm

Edgar (US Regulatory)


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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

SMITH MICHAEL T
2. Issuer Name and Ticker or Trading Symbol

Zero Gravity Solutions, Inc. [ ZGSI ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

1049 CAMINO DOS RIOS
3. Date of Earliest Transaction (MM/DD/YYYY)

5/3/2018
(Street)

THOUSAND OAKS, CA 91360
(City)        (State)        (Zip)
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
Warrant   (1) $3   5/3/2018     P      30000       5/3/2018   5/3/2023   Common Stock, par value $0.001 per share   30000     (1) 30000   D    
Warrant   (2) $1   7/2/2018     P      250000       7/2/2018   7/2/2020   Common Stock, par value $0.001 per share   250000     (2) 250000   D    

Explanation of Responses:
(1)  On or about May 3, 2018, Mr. Smith loaned $300,000 to the Issuer, and in exchange received (a) a 10% promissory note, payable quarterly in cash and maturing on May 1, 2020, which will become convertible within 30 days of the Issuer making a payment on principal of such note, at a conversion price of $3.00 per share or the lowest price per share of any sale of common stock by the Issuer from the date of the note through conversion; and (b) a 5 year warrant dated May 3, 2018, exercisable into shares of the Issuer's common stock at $3.00 per share.
(2)  On or about July 2, 2018, Mr. Smith loaned $250,000 to the Issuer, and in exchange received (a) a 10% secured convertible promissory note, payable quarterly in cash and maturing on July 2, 2020, which will convert into the Issuer's common stock automatically, if not repaid and if and when the Issuer issues securities at a price per share of less than $3.00 per share, at a conversion price per share equal to such lower price; and (b) a 2 year warrant dated July 2, 2018, exercisable into shares of the Issuer's common stock at $1.00 per share.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
SMITH MICHAEL T
1049 CAMINO DOS RIOS
THOUSAND OAKS, CA 91360
X



Signatures
/s/ MICHAEL T SMITH 7/13/2018
** 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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