Re: VOW !!! EXERCISABLE OPTION TO BUY , BY FRED FALK & SON/Gil
in response to
by
posted on
Feb 07, 2009 02:03PM
I think some of you are not understanding this form that was filed correctly. It is called "INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES".
Because he was just named President and CEO this is a required filing to show exactly how many and in what way he owns shares or options.
This filing shows that he has a direct beneficial ownership of 993,300 shares. He has an indirect beneficial ownership in 550 shares that are oned by his son.
In addition, on 3/30/2006 he was granted an option to buy 750,000 shares at $ .145 which expires 3/30/2010 and on 7/1/2004 he was granted an option to buy 400,000 shares at a price of $ .23. None have been exercised so far.
This document says nothing about, nor has anything to do with where the company might feel the share price will be in July.
In fact, at the time the options were given, the hope would have been that the share price would have been much, much higher than it currently is. That is afterall, the purpose of stock options, to reward the owner of the options at a discount in the future for performance today.
Jay
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
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OMB APPROVAL OMB Number: 3235-0104 Expires: February 28, 2011 Estimated average burden hours per response... 0.5 |
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
1. Name and Address of Reporting Person *
FALK ALFRED |
2. Date of Event Requiring Statement (MM/DD/YYYY) 1/20/2009 |
3. Issuer Name and Ticker or Trading Symbol
E DIGITAL CORP [EDIG] |
(Last) (First) (Middle)
16770 WEST BERNARDO DRIVE |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable) __ X __ Director _____ 10% Owner |
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(Street)
SAN DIEGO, CA 92127 (City) (State) (Zip) |
5. If Amendment, Date Original Filed (MM/DD/YYYY) |
6. Individual or Joint/Group Filing (Check Applicable Line)
_ X _ Form filed by One Reporting Person |
Table I - Non-Derivative Securities Beneficially Owned |
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1.Title of Security (Instr. 4) |
2. Amount of Securities Beneficially Owned (Instr. 4) |
3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) |
4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 993300 | D | |
Common Stock | 550 | I | by son (1) |
Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) |
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1. Title of Derivate Security (Instr. 4) |
2. Date Exercisable and Expiration Date (MM/DD/YYYY) |
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) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Option to Buy | 3/30/2006 | 3/30/2010 | Common Stock | 750000 | $0.145 | D | |
Option to Buy | 7/1/2004 | 7/1/2009 | Common Stock | 400000 | $0.23 | D |
Explanation of Responses: | |
( 1) | The reporting person disclaims beneficial ownership in these shares. |
Reporting Owners |
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Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
FALK ALFRED 16770 WEST BERNARDO DRIVE SAN DIEGO, CA 92127 |
X | President and CEO |
Signatures |
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/s/ ALFRED FALK | 1/21/2009 | |
** 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 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). |
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 control number. |