Barfresh (NASDAQ: BRFH) director adds shares via interest-paid stock and retains options, warrant, note
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
BARFRESH FOOD GROUP INC. director Joseph M. Cugine reported an update to his holdings in company securities. He received 2,657 shares of Common Stock with a reported price of $1.88 per share as payment of interest on a convertible note, bringing his directly held common shares to 257,146.
Alongside this, he continues to hold several derivative positions on Common Stock: stock options over 19,231 shares at $7.15 expiring on December 31, 2026, options over 5,724 shares at $5.46 expiring on May 7, 2029, and options over 19,231 shares at $6.76 also expiring on December 31, 2026. He also holds a Series R Warrant for 62,500 shares at $3.20 expiring on March 6, 2030 and a 10% Series A Convertible note convertible into 68,966 shares at $2.90 expiring on March 6, 2028.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Cugine Joseph M.
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 2,657 | $0.00 | -- |
| holding | 10% Series A Convertible note | -- | -- | -- |
| holding | Series R Warrant (Right to Buy) | -- | -- | -- |
| holding | Stock options | -- | -- | -- |
| holding | Stock options | -- | -- | -- |
| holding | Stock options | -- | -- | -- |
Holdings After Transaction:
Common Stock — 257,146 shares (Direct, null);
10% Series A Convertible note — 68,966 shares (Direct, null);
Series R Warrant (Right to Buy) — 62,500 shares (Direct, null);
Stock options — 19,231 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
New shares received: 2,657 shares
Interest share value: $1.88 per share
Common shares held: 257,146 shares
+5 more
8 metrics
New shares received
2,657 shares
Common Stock issued as interest payment on convertible note
Interest share value
$1.88 per share
Valuation used for shares issued as interest
Common shares held
257,146 shares
Direct Common Stock holding after transaction
Options at $7.15
19,231 underlying shares
Stock options expiring December 31, 2026
Options at $5.46
5,724 underlying shares
Stock options expiring May 7, 2029
Options at $6.76
19,231 underlying shares
Stock options expiring December 31, 2026
Series R Warrant
62,500 underlying shares at $3.20
Warrant expiring March 6, 2030
10% Series A Convertible note
68,966 underlying shares at $2.90
Convertible note expiring March 6, 2028
Key Terms
10% Series A Convertible note, Series R Warrant (Right to Buy), Stock options, Other acquisition or disposition, +1 more
5 terms
10% Series A Convertible note financial
"10% Series A Convertible note convertible into 68,966 shares at $2.90 expiring on March 6, 2028"
Series R Warrant (Right to Buy) financial
"Series R Warrant (Right to Buy) for 62,500 shares at $3.20 expiring on March 6, 2030"
Stock options financial
"Stock options over 19,231 shares at $7.15, 5,724 shares at $5.46, and 19,231 shares at $6.76 on Common Stock"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
Other acquisition or disposition financial
"Common Stock entry coded J with description "Other acquisition or disposition" for 2,657 shares"
convertible note financial
"Shares issued as payment of interest on a convertible note, valued at $1.88 per share"
A convertible note is a type of loan that a company gets from investors, which can later be turned into company shares instead of being paid back in cash. It matters because it helps startups raise money quickly without setting a fixed value for the company right away, making it easier to grow and attract investors.
FAQ
What did Joseph M. Cugine report in this Form 4 for BRFH?
He reported receiving additional BRFH common shares. The filing shows 2,657 shares of Common Stock issued to him as payment of interest on a convertible note, increasing his directly held common shares to 257,146 according to the reported post-transaction balance.
What is Joseph M. Cugine’s reported BRFH common stock holding after this transaction?
He is reported to hold 257,146 BRFH common shares directly. The Form 4 lists 2,657 new shares issued as interest on a convertible note and shows a post-transaction total common stock holding of 257,146 shares under direct ownership.
What derivative securities on BRFH stock does Joseph M. Cugine hold?
He holds several option, warrant, and note positions. These include stock options over 19,231 shares at $7.15, 5,724 shares at $5.46, 19,231 shares at $6.76, a Series R Warrant for 62,500 shares at $3.20, and a 10% Series A Convertible note into 68,966 shares at $2.90.
What does the J code "Other acquisition or disposition" mean in this BRFH Form 4?
It indicates an "other" type of transaction, not a standard buy or sell. Here, the J-coded entry reflects shares issued as payment of interest on a convertible note, so it records receipt of shares through interest settlement rather than an open-market purchase or sale.
Did the BRFH Form 4 show any open-market buying or selling by Joseph M. Cugine?
No open-market buys or sells are reported. The summary data shows zero buy and sell transactions. The only new common share entry is coded as an "other" transaction, representing interest paid in stock, with the rest of entries describing existing derivative holdings.