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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| 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. | SEC 1474 (9-02) | ||
| 1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction 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 (Month/Day/Year) |
7. Title and Amount of Underlying Securities (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) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Option (right to buy) | $ 8 | (10) | 11/05/2020 | Common Stock | 3,750 | 3,750 | D | ||||||||
| 2010 Class B Warrants (right to buy) | $ 3.08 (11) | 09/09/2010 | 09/09/2015 | Common Stock | 76,991 | 76,991 | I | Pontifax (Cayman) II L.P. (2) | |||||||
| 8% Senior Convertible Debentures | $ 2.4 | 10/29/2013 | C | 203,682 | 12/18/2012 | 12/18/2015 | Common Stock | 203,682 | $ 0 | 0 | I | Pontifax (Cayman) II L.P. (2) | |||
| 2012 Series A Warrants (right to buy) | $ 2.4 (12) | 12/18/2012 | 12/18/2017 | Common Stock | 339,470 (12) | 339,470 (12) | I | Pontifax (Cayman) II L.P. (2) | |||||||
| 2012 Series B Warrants (right to buy) | $ 2.4 | 10/29/2013 | D(13) | 203,682 | 12/18/2012 | 06/18/2014 | Common Stock | 203,682 | $ 0 (13) | 0 | I | Pontifax (Cayman) II L.P. (2) | |||
| 2012 Series B Warrants (right to buy) | $ 2.4 | 10/29/2013 | A(13) | 203,682 | 10/29/2013 | 10/31/2014 | Common stock | 203,682 | $ 0 (13) | 203,682 | I | Pontifax (Cayman) II L.P. (2) | |||
| 2013 Series D Warrants (right to buy) | $ 2.4 | 10/29/2013 | P | 203,682 | 10/29/2013 | 10/29/2018 | Common Stock | 203,682 | $ 0 (4) | 203,682 | I | Pontifax (Cayman) II L.P. (2) | |||
| 2013 Series E Warrants (right to buy) | $ 2.4 | 10/29/2013 | P | 203,682 | 10/29/2013 | 10/31/2014 | Common Stock | 203,682 | $ 0 (4) | 203,682 | I | Pontifax (Cayman) II L.P. (2) | |||
| 2010 Class B Warrants (right to buy) | $ 3.08 (11) | 09/09/2010 | 09/09/2015 | Common Stock | 57,995 | 57,995 | I | Pontifax (Israel) II L.P. (2) | |||||||
| 8% Senior Convertible Debentures | $ 2.4 | 10/29/2013 | C | 153,426 | 12/18/2012 | 12/18/2015 | Common Stock | 153,426 | $ 0 | 0 | I | Pontifax (Israel) II L.P. (2) | |||
| 2012 Series A Warrants (right to buy) | $ 2.4 (12) | 12/18/2012 | 12/18/2017 | Common Stock | 255,710 (12) | 255,710 (12) | I | Pontifax (Israel) II L.P. (2) | |||||||
| 2012 Series B Warrants (right to buy) | $ 2.4 | 10/29/2013 | D(13) | 153,426 | 12/18/2012 | 06/18/2014 | Common Stock | 153,426 | $ 0 (13) | 0 | I | Pontifax (Israel) II L.P. (2) | |||
| 2012 Series B Warrants (right to buy) | $ 2.4 | 10/29/2013 | A(13) | 153,426 | 10/29/2013 | 10/31/2014 | Common Stock | 153,426 | $ 0 (13) | 153,426 | I | Pontifax (Israel) II L.P. (2) | |||
| 2013 Series D Warrants (right to buy) | $ 2.4 | 10/29/2013 | P | 153,426 | 10/29/2013 | 10/29/2018 | Common Stock | 153,426 | $ 0 (8) | 153,426 | I | Pontifax (Israel) II L.P. (2) | |||
| 2013 Series E Warrants (right to buy) | $ 2.4 | 10/29/2013 | P | 153,426 | 10/29/2013 | 10/31/2014 | Common Stock | 153,426 | $ 0 (8) | 153,426 | I | Pontifax (Israel) II L.P. (2) | |||
| 2010 Class B Warrants (right to buy) | $ 3.08 (11) | 09/09/2010 | 09/09/2015 | Common Stock | 22,513 | 22,513 | I | Pontifax (Israel) II - Individual Investors L.P. (2) | |||||||
| 8% Senior Convertible Debenures | $ 2.4 | 10/29/2013 | C | 59,558 | 12/18/2012 | 12/18/2015 | Common Stock | 59,558 | $ 0 | 0 | I | Pontifax (Israel) II - Individual Investors L.P. (2) | |||
| 2012 Series A Warrants (right to buy) | $ 2.4 (12) | 12/18/2012 | 12/18/2017 | Common Stock | 99,263 (12) | 99,263 (12) | I | Pontifax (Israel) II - Individual Investors L.P. (2) | |||||||
| 2012 Series B Warrants (right to buy) | $ 2.4 | 10/29/2013 | D(13) | 59,558 | 12/18/2012 | 06/18/2014 | Common Stock | 59,558 | $ 0 (13) | 0 | I | Pontifax (Israel) II - Individual Investors L.P. (2) | |||
| 2012 Series B Warrants (right to buy) | $ 2.4 | 10/29/2013 | A(13) | 59,558 | 10/29/2013 | 10/31/2014 | Common Stock | 59,558 | $ 0 (13) | 59,558 | I | Pontifax (Israel) II - Individual Investors L.P. (2) | |||
| 2013 Series D Warrants (right to buy) | $ 2.4 | 10/29/2013 | P | 59,558 | 10/29/2013 | 10/29/2018 | Common Stock | 59,558 | $ 0 (14) | 59,558 | I | Pontifax (Israel) II - Individual Investors L.P. (2) | |||
| 2013 Series E Warrants (right to buy) | $ 2.4 | 10/29/2013 | P | 59,558 | 10/29/2013 | 10/31/2014 | Common Stock | 59,558 | $ 0 (14) | 59,558 | I | Pontifax (Israel) II - Individual Investors L.P. (2) | |||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| Kariv Tomer 200 ROUTE 31 NORTH SUITE 104 FLEMINGTON, NJ 08822 |
X | |||
| /s/ Christopher J. Melsha as Attorney-in-Fact for Tomer Kariv pursuant to Power of Attorney previously filed. | 10/31/2013 | |
| **Signature of Reporting Person | Date |
| * | 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). |
| (1) | On October 29, 2013, the Issuer and the holders of Issuer's 2012 8% Senior Convertible Debentures ("Holders"), which included the Reporting Person, entered into a Conversion Agreement ("Conversion Agreement") pursuant to which all Holders agreed to convert all outstanding principal and accrued interest under such debentures at a per share price of $2.40. Shares reflected represent shares issued to Reporting Person upon conversion of $521,318 of principal and accrued interest. |
| (2) | The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. |
| (3) | Pursuant to Conversion Agreement, Issuer also paid to each Holder additional 12 mos. interest for converting the debentures, which amount was satisfied by the issuance of common stock at a price of $2.40 per share. Shares reflected represented issuance in satisfaction of additional interest of $39,107. |
| (4) | The reported securities are included within 203,682 Issuer units purchased by the Reporting Person for $2.40 per unit. Each unit consists of one share of common stock, a 2013 Series D Warrant to purchase one share of common stock, and a 2013 Series E Warrant to purchase one share of common stock. |
| (5) | On October 29, 2013, the Issuer and the holders of Issuer's 2012 8% Senior Convertible Debentures ("Holders"), which included the Reporting Person, entered into a Conversion Agreement ("Conversion Agreement") pursuant to which all Holders agreed to convert all outstanding principal and accrued interest under such debentures at a per share price of $2.40. Shares reflected represent shares issued to Reporting Person upon conversion of $392,689 of principal and accrued interest. |
| (6) | Pursuant to Conversion Agreement, Issuer also paid to each Holder additional 12 mos. interest for converting the debentures, which amount was satisfied by the issuance of common stock at a price of $2.40 per share. Shares reflected represented issuance in satisfaction of additional interest of $29,458. |
| (7) | On October 29, 2013, the Issuer and the holders of Issuer's 2012 8% Senior Convertible Debentures ("Holders"), which included the Reporting Person, entered into a Conversion Agreement ("Conversion Agreement") pursuant to which all Holders agreed to convert all outstanding principal and accrued interest under such debentures at a per share price of $2.40. Shares reflected represent shares issued to Reporting Person upon conversion of $152,437 of principal and accrued interest. |
| (8) | The reported securities are included within 153,426 Issuer units purchased by the Reporting Person for $2.40 per unit. Each unit consists of one share of common stock, a 2013 Series D Warrant to purchase one share of common stock, and a 2013 Series E Warrant to purchase one share of common stock. |
| (9) | Pursuant to Conversion Agreement, Issuer also paid to each Holder additional 12 mos. interest for converting the debentures, which amount was satisfied by the issuance of common stock at a price of $2.40 per share. Shares reflected represented issuance in satisfaction of additional interest of $11,435. |
| (10) | Vesting in three equal annual installments commencing 11/5/11. |
| (11) | As a result of the Issuer's 10/29/13 private placement of common stock at $2.40/share, the exercise price subject to the 2010 Class B Warrants was automatically adjusted to the exercise price reflected, pursuant to anti-dilution adjustment provisions. |
| (12) | As a result of the Issuer's 10/29/13 private placement of common stock at $2.40/share, the exercise price and number of shares subject to the 2012 Series A Warrants were automatically adjusted to the exercise price and shares reflected, pursuant to anti-dilution adjustment provisions. |
| (13) | The two reported transactions involved an amendment of an outstanding warrant extending the expiration date from 5/26/14 to 10/31/14, resulting in the deemed cancellation of the "old" warrant and the issuance of a replacement warrant. The "old" warrant was originally granted on 11/26/12. |
| (14) | The reported securities are included within 59,558 Issuer units purchased by the Reporting Person for $2.40 per unit. Each unit consists of one share of common stock, a 2013 Series D Warrant to purchase one share of common stock, and a 2013 Series E Warrant to purchase one share of common stock. |
| Remarks: ON 10/29/13, THE COMPANY COMPLETED A ONE-FOR-EIGHT REVERSE STOCK SPLIT. ALL COMMON STOCK, WARRANT AND DEBENTURE AMOUNTS AND EXERCISE PRICES IN THE FILING RELATING TO SECURITIES ACQUIRED PRIOR TO 10/29/13 HAVE BEEN ADJUSTED TO REFLECT THE ONE-FOR-EIGHT REVERSE STOCK SPLIT. | |