John Francis Possumato - Feb 24, 2022 Form 3 Insider Report for Driveitaway Holdings, Inc. (CLCN)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ John Possumato, Individually
Stock symbol
CLCN
Transactions as of
Feb 24, 2022
Transactions value $
$0
Form type
3
Date filed
4/29/2022, 03:58 PM
Next filing
Apr 29, 2022

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 CLCN Series A Convertible Preferred Stock Feb 24, 2022 Common Stock 1.91M Direct F1, F2
holding CLCN Series A Convertible Preferred Stock Feb 24, 2022 Common Stock 34.9M DriveItAway, LLC F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Series A Convertible Preferred Stock has no expiration date, and is convertible immediately into 33.94971 shares of common stock at the option of the holder, and mandatorily at the option of the company under certain circumstances. Each share of Series A Convertible Preferred Stock is entitled to receive dividends and vote on an "as converted" basis with the common stock.
F2 Based on 56,250 shares of Series A Convertible Preferred Stock owned by John Possumato.
F3 Based on 1,028,929 shares of Series A Convertible Preferred Stock owned by DriveItAway, LLC.
F4 John Possumato is the manager of DriveItAway, LLC, and voting control over shares owned by DriveItAway, LLC, and may be deemed to have indirect beneficial ownership of all or a portion of the securities owned directly by DriveItAway, LLC, but disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.