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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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. | SEC 1474 (9-02) |
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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Convertible Redeemable Subordinated Note (right to buy) | $ 1 | 03/06/2008 | 03/06/2008 | J | 50,000 | (1) | (1) | Common Stock | 50,000 | (1) | 50,000 | I | Family Trust |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
POWERS JAMES M JR 2999 N. 44TH STREET, SUITE 650 PHOENIX,, AZ 85018 |
X | Chairman, President & CEO |
/s/ James L. Dunn, Jr., Attorney-in-Fact for James M. Powers, Jr. | 03/10/2008 | |
**Signature of Reporting Person | Date |
* | 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). |
(1) | On March 6, 2008, Mr. Powers purchased the Convertible Redeemable Subordinated Note originally issued by iLinc Communications, Inc. and with an original principal balance of $50,000 (the "Note"), from a private investor. The Note is convertible into 50,000 shares of Common Stock. The Note is convertible at the option of the holder unless earlier redeemed until March 29, 2012. The Note was acquired for $38,666.66 and the Note's terms were not modified as a part of the transaction. The Note was purchased for his mother's trust account (Helen H. Powers Revocable Living Trust) of which he is an advisor and a beneficiary. |