FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
ECO2 PLASTICS INC [ ECOO.OB ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 06/04/2008 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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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) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 07/01/2006 | A | 2,500,000 | A | $0 | 2,500,000 | D | |||
Common Stock | 02/29/2008 | J(1) | 900,000 | A | $0 | 3,400,000 | D | |||
Common Stock | 03/31/2008 | A | 11,994,231 | A | $0 | 15,394,231 | I | Principal, The Otto Law Group PLLC | ||
Common Stock | 08/12/2004 | A | 3,321,085 | A | $0 | 18,625,316 | I | Principal, The Otto Law Group PLLC | ||
Common Stock | 02/29/2008 | J(2) | 4,002,925 | A | $0 | 22,628,241 | I | Member, Cambridge Partners LLC | ||
Common Stock | 02/29/2008 | J(3) | 6,372,037 | A | $417,623 | 29,000,278 | I | Member, Saratoga Capital Partners LLC | ||
Common Stock | 02/29/2008 | J(4) | 4,973,357 | A | $0 | 33,973,635 | I | Member, Saratoga Capital Partners LLC | ||
Series A Convertible Preferred Stock | 06/04/2008 | J(5) | 7,216,071 | A | $275,562 | 41,189,706 | I | Member, Saratoga Capital Partners LLC | ||
Series B-1 Convertible Preferred Stock | 06/04/2008 | P | 12,500,000 | A | $250,000 | 53,689,706 | I | Member, Saratoga Capital Partners LLC |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Explanation of Responses: |
1. The common stock warrant for 900,000 shares was converted as part of a combined note/warrant conversion, offered as an incentive by the issuer. |
2. The common stock warrant for 4,002,925 shares was converted as part of a combined note/warrant conversion, offered as an incentive by the issuer. |
3. The 10% convertible note for 6,372,037 shares was converted as part of a combined note/warrant conversion, offered as an incentive by the issuer. |
4. The common stock warrant for 4,973,357 shares was converted as part of a combined note/warrant conversion, offered as an incentive by the issuer. |
5. In exchange for the conversion of outstanding promissory notes, Saratoga Capital Partners LLC loaned to the Company in the total aggregate amount of $275,562 as an incentive offered by the Issuer, Saratoga Capital Partners LLC received and was issued 7,216,071 shares of Series A Convertible Preferred stock at an average price of $0.0382 per share. |
David M. Otto | 06/16/2008 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |