Filing Details

BioRestorative Therapies, Inc.

(Name of Issuer)

Common Stock, $.0001 Par Value

(Title of Class of Securities)

090655408

(CUSIP Number)

Lance Alstodt 40 Marcus Drive Suite One Melville, New York  11747 (631) 760-8100

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

March 18, 2021

(Date of Event which Requires Filing of this Statement)

 

 

ITEM 1.  SECURITY AND ISSUER.

 

This statement relates to shares of Common Stock, par value $.0001 per share (the “Common Stock”), of BioRestorative Therapies, Inc., a Delaware corporation (the “Company”).  The address of the principal executive offices of the Company is 40 Marcus Drive, Suite One, Melville, New York 11747.

 

ITEM 2.  IDENTITY AND BACKGROUND.

 

(a)          Name of Reporting Person:

 

Lance Alstodt

 

(b)          Residence or business address:

 

40 Marcus Drive, Suite One

Melville, New York 11747

 

(c)          The Reporting Person is employed as the Chief Executive Officer, President and Chairman of the Board of the Company.

 

(d)          The Reporting Person has not been convicted in a criminal proceeding in the last five years.

 

(e)          The Reporting Person has not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

(f)           The Reporting Person is a citizen of the United States of America.

 

ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

 

N/A

 

ITEM 4.    PURPOSE OF TRANSACTION.

 

On March 18, 2021, the Company granted to the Reporting Person a ten year option for the purchase of 1,173,917,974 shares of Common Stock of the Company at an exercise price of $0.0119 per share.  The option is exercisable to the extent of (a) 586,958,987 shares effective as of the date of grant, (b) 293,479,494 shares effective as of March 18, 2022 and (c) 293,479,493 shares effective as of March 18, 2023.

Reference is made to the Non-Qualified Stock Option Award Agreement incorporated herein by reference to the Company’s Current Report on Form 8-K for an event dated March 18, 2021 (wherein such document is filed as Exhibit 99.4) for a complete description of the option granted to the Reporting Person.

ITEM 5.   INTEREST IN SECURITIES OF THE ISSUER.

 

(a)  As of the date hereof, the Reporting Person is the beneficial owner of 605,670,653 shares of Common Stock of the Company (or approximately 16.8% of the outstanding Common Stock of the Company based upon there being 3,016,743,991 shares of Common Stock of the Company outstanding as of March 17, 2021, as set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission on March 18, 2021).  Of such number, 586,958,987 shares of Common Stock are issuable upon the exercise of options that are exercisable currently.

 

(b)   The Reporting Person has sole voting and dispositive power over the 605,670,653 shares beneficially owned.

 

(c)   During the past 60 days, the Reporting Person has not effected any transactions in the Common Stock of the Company, except as reported in Item 4 hereof, and except that, on March 18, 2021, the Company granted to the Reporting Person 586,958,987 restricted stock units which vest in three equal annual installments commencing one year from the date of grant.

See Item 5 hereof with respect to options held by the Reporting Person.

 

ITEM 7.  MATERIAL TO BE FILED AS EXHIBITS.

 

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement with respect to myself is true, complete and correct.

 

 

 

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