Kantrowitz Ian sold BRQL
June 26, 2025 · Form 4 insider transaction
Kantrowitz Ian sold 6,243,300 shares of Dynamic Aerospace Systems Corporation at $0.00 per share, a transaction worth N/A. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 29 days after the transaction.
Footnotes
AS NOTED, ACP ACQUIRED THE SHARES OF SERIES A PREFERRED STOCK PURSUANT TO THE TERMS OF CONVERTIBLE PROMISSORY NOTES ISSUED BY THE ISSUER IN FEBRUARY AND MARCH, 2025. FOLLOWING THE ISSUANCE OF THE SERIES A PREFERRED STOCK TO ACP ON JUNE 25, 2025, ACP SUBSEQUENTLY DISTRIBUTED AN AGGREGATE OF 6,246,300 SHARES TO CERTAIN INVESTORS IN ACP IN EXCHANGE FOR CANCELLATION OF OBLIGATIONS TOTALING $749,556, AT A PER SHARE CONVERSION PRICE OF $0.12.; THE SHARES OF SERIES A PREFERRED STOCK MAY BE CONVERTED INTO SHARES OF THE ISSUER'S COMMON STOCK AT ANY TIME AT THE DISCRETION OF THE HOLDER (ACP). THERE IS NO EXPIRATION OF THE RIGHT TO CONVERT INTO THE ISSUER'S COMMON STOCK.; THE REPORTING PERSON IS A MEMBER OF AEROSPACE CAPITAL PARTNERS, LLC, WHICH OWNS THE SHARES. THE REPORTING PERSON'S BENEFICIAL AND PECUNIARY OWNERSHIP OF ACP IS 15%. THE REPORTING PERSON DISCLAIMS BENEFICIAL OWNERSHIP OF THESE SERIES A PREFERRED SHARES EXCEPT TO THE EXTENT OF HIS PECUNIARY INTEREST THEREIN.