July 15, 2025 · Form 4 insider transaction
ELLIN ROBERT S sold 2,250 shares of LVO, a transaction worth N/A. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 2 days after the transaction.
On July 15, 2025, Issuer entered into a letter agreement (the "Letter Agreement") with Trinad Capital Master Fund Ltd. ("Trinad Capital"), a fund controlled by the Reporting Person, Issuer's Chief Executive Officer, Chairman, director and principal stockholder, and a holder of Issuer's Series A Perpetual Convertible Preferred Stock (the "Series A Preferred Stock"). Pursuant to the Letter Agreement, Trinad Capital converted 2,250 shares of Series A Preferred Stock into 1,500,000 shares of Issuer's common stock at a price of $1.50 per share; The Series A Preferred Stock is convertible at any time at Trinad Capital's option into shares of Issuer's common stock at a price of $2.10 per share of common stock, bears a dividend of 12% per annum, which initially shall be paid in kind as provided in the Certificate of Designation, is perpetual and has no expiration date. The Series A Preferred Stock has a stated value of $1,000 per share.; The Reporting Person is the Managing Director and Portfolio Manager of Trinad Capital and is deemed to have sole voting and dispositive power over, and accordingly is deemed to have beneficial ownership of, the reported securities.