Trent D'Ambrosio - 23 Feb 2023 Form 4 Insider Report for INCEPTION MINING INC. (BSAI)

Role
CEO/CFO, Director, 10%+ Owner
Signature
/s/ Trent D'Ambrosio
Issuer symbol
BSAI
Transactions as of
23 Feb 2023
Net transactions value
+$17,801,130
Form type
4
Filing time
01 Mar 2023, 16:36:03 UTC
Next filing
04 Apr 2025
SEC
View on sec.gov

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
transaction IMII Promissory Note Conversion of derivative security $16,989,100 +485,402,857 +11967% $0.0350 489,458,958 23 Feb 2023 Common shares 485,402,857 $0.0350 Direct F1
transaction IMII Promissory Note Conversion of derivative security $812,030 +23,200,857 +4.7% $0.0350 512,659,815 23 Feb 2023 Common shares 23,200,857 $0.0350 By spouse F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Trent D'Ambrosio was owed $1,698,910 by the Company in debt that was not convertible on its face. He elected to convert the debt into shares of common stock at the rate of $0.0035. This conversion was approved by the Board of Directors.
F2 Trent D'Ambrosio's spouse, Debra D'Ambrosio, was owed $81,203 by the Company in debt that was not convertible on its face. He elected to convert the debt into shares of common stock at the rate of $0.0035. This conversion was approved by the Board of Directors.