Kronos Advanced Technologies Inc - Statement of Changes in Beneficial Ownership (4)
15 Febbraio 2008 - 5:07PM
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).
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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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January 31, 2008
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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(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
SILVER JACK
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2. Issuer Name
and
Ticker or Trading Symbol
KRONOS ADVANCED TECHNOLOGIES INC
[
KNOS.OB
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director
__
X
__ 10% Owner
_____ Officer (give title below)
__
X
__ Other (specify below)
Member 13(d) group owning +10%
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(Last)
(First)
(Middle)
C/O SIAR CAPITAL LLC, 660 MADISON AVENUE
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3. Date of Earliest Transaction
(MM/DD/YYYY)
12/31/2007
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(Street)
NEW YORK, NY 10021
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
___ Form filed by One Reporting Person
_
X
_ 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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Common Stock
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12/31/2007
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C
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97525360
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A
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$.003
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97525360
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I
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See footnote.
(1)
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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)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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See footnote.
(2)
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$.003
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12/31/2007
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C
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0
(3)
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(4)
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6/19/2010
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Common Stock
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(4)
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$.003
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0
(5)
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I
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See footnote.
(1)
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Explanation of Responses:
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(
1)
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By Hilltop Holding Company, LP, a limited partnership of which Jack Silver is the general partner.
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(
2)
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Secured Convertible Promissory Note due June 19, 2010 (the "Note").
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(
3)
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$292,576.08
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(
4)
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Immediately.
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(
5)
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The number of shares of Common Stock the Note is convertible into is determined by dividing (x) that portion of the
outstanding principal balance under the Note being converted as of the date of conversion by (y) the then applicable
Conversion Price. The current outstanding principal balance of $1,047,423.92 is convertible into 349,141,307 shares of
Common Stock. The holder of the Note may fund an additional $5,140,000 under the Note, which principal amount would be
convertible into an additional 1,713,333,333 shares of Common Stock.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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SILVER JACK
C/O SIAR CAPITAL LLC
660 MADISON AVENUE
NEW YORK, NY 10021
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X
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Member 13(d) group owning +10%
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HILLTOP HOLDING CO LP
C/O SIAR CAPITAL LLC
660 MADISON AVENUE
NEW YORK, NY 10021
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X
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Member 13(d) group owning +10%
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Signatures
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/s/ Jack Silver
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2/14/2008
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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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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