Amended Statement of Changes in Beneficial Ownership (4/a)
08 Junio 2020 - 12:07PM
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
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3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
NICHOL GARETH |
2. Issuer Name and Ticker or Trading Symbol
DYNARESOURCE INC
[
DYNR
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below)
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(Last)
(First)
(Middle)
5 GREENRIDGE ROAD |
3. Date of Earliest Transaction
(MM/DD/YYYY)
5/14/2020 |
(Street)
GREENWOOD VILLAGE, CO 80111
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
12/5/2017 |
6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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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 |
Convertible Promissory Note | $0.01 (1)(2)(3) | 5/14/2020 | | A | | 500000 (1)(2)(3) | | (1)(2)(3) | (1)(2)(3) | Series D Senior Convertible Preferred Stock | 500000 (1)(2)(3) | (1)(2)(3) | 500000 (1)(2)(3) | D | |
Common Stock purchase warrant | $0.01 (4) | 5/14/2020 | | A | | 313591 (4) | | (4) | 5/14/2030 (4) | Common Stock | 313591 (4) | $0.01 | 313591 (4) | D | |
Explanation of Responses: |
(1) | The convertible promissory note (the "Note") is payable by the Issuer to Mr. Nichol in the aggregate principal amount of $1,000,000, bearing an interest rate of 10% per annum, and maturing on the two-year anniversary of the date of issuance. The outstanding principal amount of the Note and any accrued and unpaid interest thereon is immediately convertible, at the option of Mr. Nichol, into shares of Series D Senior Convertible Preferred Stock (the "Series D Preferred"), at a conversion price of $2.00 per share of Series D Preferred. |
(2) | (continued from footnote 1) Any subsequent increase or decrease in the number of shares of Series D Preferred issuable upon conversion of the Note as a result of any subsequent increase or decrease in the outstanding principal amount of indebtedness under the Note and any accrued and unpaid interest thereon,is exempt from Section 16 of the Securities Exchange Act of 1934, pursuant to Rule 16a-9(a) under such Act. |
(3) | Although the Note matures two years from the date of issuance, the Note is convertible into Series D Preferred Stock for so long as there is any principal amount outstanding under the Note. If converted into Series D Preferred, the shares of Series D Preferred are convertible into shares of common stock, at the holder's option, initially on a 1:1 basis. The conversion price of the Series D Preferred and the number of shares of common stock issuable upon conversion, are subject to anti-dilution adjustments. |
(4) | In connection with the issuance of the Note to Mr. Nichol, the issuer also issued a common stock purchase warrant (the "Warrant") representing the right to purchase 313,591 shares of common stock of the issuer. The Warrant has an exercise price of $0.01 per share, is immediately exercisable, and expires on the 10-year anniversary of the date of issuance. The Warrant is subject to anti-dilution adjustments. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
NICHOL GARETH 5 GREENRIDGE ROAD GREENWOOD VILLAGE, CO 80111 |
| X |
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Signatures
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Gareth Nichol | | 6/8/2020 |
**Signature of Reporting Person | Date |
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