Paul L. Kessler - 03 May 2023 Form 4/A - Amendment Insider Report for Prairie Operating Co. (PROP)

Role
Director, 10%+ Owner
Signature
/s/ Paul L. Kessler
Issuer symbol
PROP
Transactions as of
03 May 2023
Net transactions value
+$1,252,764
Form type
4/A - Amendment
Filing time
16 Jun 2023, 07:57:34 UTC
Date Of Original Report
09 May 2023
Previous filing
11 Jul 2022
Next filing
29 Aug 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRKR Common stock, par value $0.0001 per share Conversion of derivative security $1,591,627 +9,095,011 +342% $0.1750 11,752,736 03 May 2023 Held by BC F1, F2
transaction CRKR Common stock, par value $0.0001 per share Purchase $599,137 +5,496,669 +47% $0.1090 17,249,405 03 May 2023 Held by BIF F1, F2
transaction CRKR Common stock, par value $0.0001 per share Award $318,750 +1,821,429 +11% $0.1750 19,070,834 03 May 2023 Held by BC F1, F2
transaction CRKR Common stock, par value $0.0001 per share Conversion of derivative security $1,647,426 +9,413,863 +49% $0.1750 28,484,697 03 May 2023 Held by BIF F3
transaction CRKR Common stock, par value $0.0001 per share Award $16,250 +92,857 +0.33% $0.1750 28,577,554 03 May 2023 Direct F8

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 CRKR Series A Preferred Stock Conversion of derivative security $0 -124,236 -100% $0.000000* 0 03 May 2023 Common Stock 9,095,011 $0.1750 Held by BC F6, F7
transaction CRKR Convertible debenture Conversion of derivative security $1,647,426 $3,523,000 03 May 2023 Common Stock 9,413,863 $0.1750 Held by BIF F3
transaction CRKR Convertible debenture Conversion of derivative security $2,523,000 $1,000,000 03 May 2023 Series D Convertible preferred stock 2,523 $0.1750 Held by BIF F3
transaction CRKR Convertible debenture Conversion of derivative security $1,000,000 $0 03 May 2023 Common Stock 5,714,286 $0.1750 Held by BIF F3
transaction CRKR Series D Convertible preferred stock Conversion of derivative security $0 +2,523 $0.000000 2,523 03 May 2023 Common Stock 14,417,143 $0.1750 Held by BIF F3, F7
transaction CRKR Convertible debenture Conversion of derivative security $1,000,000 $1,000,000 03 May 2023 Common Stock 5,714,286 $0.1750 Held by BIF F3
transaction CRKR Series D Convertible Preferred Stock Purchase $1,250,000 +1,250 +50% $1000.00* 3,773 03 May 2023 Common Stock 7,142,857 $0.1750 Held by BIF F5, F7
transaction CRKR A Common Stock Purchase Warrant Purchase $0 +7,142,857 $0.000000 7,142,857 03 May 2023 Common Stock 7,142,857 $0.2100 Held by BIF F5, F6
transaction CRKR B Common Stock Purchase Warrant Purchase $0 +7,142,857 $0.000000 7,142,857 03 May 2023 Common Stock 7,142,857 $0.2100 Held by BIF F5
holding CRKR Options 15,000 03 May 2023 Common Stock 15,000 $0.2500 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares held by Bristol Investment Fund, Ltd., a Cayman Islands exempted company ("BIF") (managed by Bristol Capital Advisors, LLC, a Delaware LLC), Bristol Capital, LLC, a Delaware LLC ("BC"), Paul Kessler IRA Rollover ("PK IRA"), and Bristol Capital Advisors Profit Sharing Plan ("BCA PSP"). Mr. Kessler has voting and dispositive power over the shares beneficially owned by these holders.
F2 The total includes: (i) 2,589,990 shares owned by BIF, (ii) 24,450 shares owned by BC, (iii) 3,935 shares owned by PK IRA, and (iv) 39,350 shares owned by BCA PSP. Numbers reflect the 1-for-20 reverse stock split effectuated by the Issuer on February 27, 2020. (the "Split").
F3 In Dec 2016, BIF purchased $2,500,000 convertible debenture ("Debenture") and warrant to purchase 16,666,667 shares of common stock ("Warrant"). In Dec 2019, conversion and exercise price adjusted to $0.125 and Warrant shares became 20,000,000. BIF transferred 6,000,000 Warrant shares to third party in Dec 2019 and retained 14,000,000 Warrant shares. Following Split and subsequent repricing, conversion and exercise price became $0.175, number of shares underlying Debenture became 14,285,714 and shares underlying Warrant became 10,000,000. In March 2022, BIF converted $3,150 of principal into 18,000 shares which were sold on 3/31/22. On May 3, 2023, Debenture was exchanged for (a) amended debenture of $1,000,000, (b) 9,413,863 shares of Common and (c) 2,523 shares of Series D Preferred (stated value of $1,000/sh and convertible into common at $0.175/sh).
F4 Stock options for 300,000 shares issued to Paul Kessler pursuant to stock award plans, with an exercise price of $0.25. Following the 1-for-20 reverse stock split, the stock options are for 15,000 shares.
F5 The Series D Preferred offering for shares of Series D Preferred Stock featured 100% warrant coverage for each of Series A warrants to purchase shares of Common Stock and Series B warrants to purchase shares of Common Stock.
F6 124,236 shares of Series A Preferred Stock held by Paul Kessler, includes $349,267 of accrued but unpaid dividends converted into shares of Common Stock at $0.175 per share. The shares of Series A Preferred Stock held by Mr. Kessler were issued to BC upon conversion.
F7 Such shares of preferred stock have no expiration date.
F8 The Form 4 filed on May 9, 2023 inadvertently reported the incorrect number of shares of common stock held by Paul Kessler in his individual capacity. The correct number is 92,857 shares of common stock.

Remarks:

This amendment is being filed to correct the number of shares of common stock held by Paul Kessler in his individual capacity.