Swapan Kakumanu - Jan 28, 2022 Form 4 Insider Report for CurrencyWorks Inc. (MWRK)

Role
Chief Financial Officer
Signature
/s/ Swapan Kakumanu
Stock symbol
MWRK
Transactions as of
Jan 28, 2022
Transactions value $
$16,500
Form type
4
Date filed
1/31/2022, 08:00 AM
Previous filing
Dec 30, 2021
Next filing
Aug 29, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MWRK Common Stock Purchase $16.5K +80.6K +140.63% $0.20 138K Jan 28, 2022 Direct
holding MWRK Common Stock 50K Jan 28, 2022 Red to Black Inc. F1
holding MWRK Common Stock 57.3K Jan 28, 2022 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding MWRK Stock Options 75K Jan 28, 2022 Common Stock 75K $0.60 Red to Black Inc. F1, F2
holding MWRK Stock Options 175K Jan 28, 2022 Common Stock 100K $0.10 Red to Black Inc. F1, F3
holding MWRK Stock Options 400K Jan 28, 2022 Common Stock 400K $1.17 Direct F4
holding MWRK Stock Options 1.15M Jan 28, 2022 Common Stock 750K $1.16 Direct F5
holding MWRK Warrants 250K Jan 28, 2022 Common Stock 250K $0.55 Fogdog Energy Solutions Inc. F6, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Swapan Kakumanu has the sole power to vote or direct the vote, and to dispose or direct the disposition, of the shares held by Red to Black Inc.
F2 The stock options vest as to 1/3 on June 8, 2018, 1/3 on June 8, 2019 and 1/3 on June 8, 2020.
F3 The stock options vest as to 1/3 on October 15, 2018, 1/3 on October 15, 2019 and 1/3 on October 15, 2020.
F4 The options vest as follows: (i) 1/3 on date of grant, (ii) 1/3 on the first anniversary of date of grant and (iii) 1/3 on the second anniversary of date of grant.
F5 The options vest to 1/3 on June 15, 2021, 1/3 on June 15, 2022 and 1/3 on June 15, 2023.
F6 The warrants were issued to Fogdog Energy Solutions Inc. ("Fogdog") pursuant to a services agreement dated August 20, 2021 (the "Agreement") with Fogdog, whereby Fogdog will provide CurrencyWorks Inc. (the "Issuer") with free of charge access to the electricity power generated from any clean electricity power generation thermal units built and operated by Fogdog in Canada or the United States of America for a period of five (5) years from the date that the Issuer provides an advance of $850,000 to Fogdog (the "Loan") pursuant to a loan agreement with Fogdog dated August 20, 2021, provided that the Issuer is using such power to develop and operate cryptocurrency mining operations.
F7 The Warrants will vest and become exercisable only upon repayment in full of the Loan.
F8 Swapan Kakumanu is the chief financial officer and director of Fogdog and also owns 50% of the shares of Fogdog.