Milovanovic Aleksandar sold GMGI
January 13, 2025 · Form 4 insider transaction
Milovanovic Aleksandar sold an undisclosed number of shares of GMGI 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.
Footnotes
The Deferred Cash Convertible Promissory Note ("Convertible Note"), is convertible into shares of common stock of the Issuer, at any time, from time to time, at the option of the Reporting Person, based on a conversion price, determined at the option of the Reporting Person of either (A) (i) the average closing sales price of the Issuer's common stock on the Nasdaq market over the thirty trading day period ending on the trading day immediately preceding the date of the conversion notice; (ii) minus a discount of 15%; or (B) $3.00, subject to a floor of $2.00 per share (the "Conversion Price").; On January 13, 2025, the Reporting Person agreed to convert $501,591 of the Deferred Cash Convertible Promissory Note into shares of common stock of the Company.; The maturity date of the Convertible Note is December 17, 2025.