1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Options (Right to buy)
|
03/14/2008(2)
|
03/27/2013 |
Common stock
|
10,910
|
$
0.23
|
D
|
Â
|
Options (Right to buy)
|
03/14/2008(2)
|
04/18/2016 |
Common stock
|
10,910
|
$
0.46
|
D
|
Â
|
Private call (Obligation to sell)
(3)
|
03/14/2008 |
03/14/2011 |
Common stock
|
310,935
|
$
0.46
|
D
|
Â
|
Private call (Obligation to sell)
(3)
|
03/14/2010 |
03/14/2011 |
Common stock
|
545,500
|
$
0.46
|
D
|
Â
|
Private call (Obligation to sell)
(4)
|
03/14/2008 |
03/14/2011 |
Common stock
|
218,200
|
$
0.46
|
D
|
Â
|
Private call (Obligation to sell)
(5)
|
03/14/2008 |
03/14/2011 |
Common stock
|
92,735
|
$
0.46
|
D
|
Â
|
Private call (Obligation to sell)
(6)
|
03/14/2008 |
03/14/2011 |
Common stock
|
92,735
|
$
0.46
|
D
|
Â
|
* |
If the form is filed by more than one reporting person, see Instruction 5(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) |
Represents shares owned by Ms. Ludlow's spouse as to which she disclaims beneficial ownership. |
(2) |
Options subject to the grant are fully exercisable. |
(3) |
Ms. Ludlow has the obligation to sell said shares pursuant to Grant of Call Right Agreements with Steven Williams, a officer of the company, entered into in April, 2007. |
(4) |
Ms. Ludlow has the obligation to sell said shares pursuant to a Grant of Call Right Agreement with John Paxton, a director of the company, entered into in April 2007. |
(5) |
Ms. Ludlow has the obligation to sell said shares pursuant to a Grant of Call Right Agreement with Claudia Monroe, an employee of the company, entered into in April 2007. |
(6) |
Ms. Ludlow has the obligation to sell said shares pursuant to a Grant of Call Right Agreements with Kenna Pope, an employee of the company, entered into in April, 2007. |