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Filing Details

Accession Number:: 0001181431-12-051780
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-09-21 18:40:21
Reporting Period:: 2012-09-12

Filing Date:: 2012-09-21
Accepted Time:: 2012-09-21 18:40:21
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1410056	Greenhunter Energy Inc.	GRH	Industrial Organic Chemicals (2860)	204864036

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1276537	West Coast Asset Management Inc	1205 Coast Village Road Montecito CA 93108	No	No	Yes	No
1405965	West Coast Opportunity Fund Llc	1205 Coast Village Road Montecito CA 93108	No	No	Yes	No
1407604	Atticus R Lowe	1205 Coast Village Road Montecito CA 93108	No	No	Yes	No
1407605	W Lance Helfert	1205 Coast Village Road Montecito CA 93108	No	No	Yes	No
1407606	J Paul Orfalea	1205 Coast Village Road Montecito CA 93108	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2012-09-12	2,450,500	$0.00	2,450,500	No	4	C	Direct
Series C Preferred Stock	Acquisiton	2012-09-12	345,000	$0.00	345,000	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Direct
No	4	P	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series A Preferred Stock	Disposition	2012-09-12	5,978	$0.00	1,711,832	$0.00
Common Stock	Series B Preferred Stock	Disposition	2012-09-12	9,802	$0.00	2,450,500	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0			No	4	S	Direct
0			No	4	C	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Warrant	$1.50		2014-01-31	772,500	772,550	Direct
Common Stock	Warrant	$2.50		2014-01-31	772,500	772,550	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2014-01-31	772,500	772,550	Direct
2014-01-31	772,500	772,550	Direct

Footnotes

Reporting Person entered into a Securities Exchange Agreement with Issuer, whereby Reporting Person (i) exchanged all of its shares of Series A Preferred Stock into 345,000 shares of 10% Series C Cumulative Preferred Stock, and (ii) exchanged all of its Series B Preferred Stock for 2,450,500 shares of Common Stock, which represented the number of such shares that would have been received by Reporting Person if Reporting Person had exercised its option to convert all of the Series B Preferred Stock on the Closing Date in accordance with Section 5(c) of the Series B Certificate of Designations at a conversion price of $4.00 per share.
May be converted at any time.
The Certificate of Designations for each of the Series A Preferred Stock and Series B Preferred Stock contained a "Blocker" provision preventing the Reporting Person from converting any shares of such stock into shares of common stock if and to the extent that such conversion would result in Reporting Person acquiring beneficial ownership of more than 9.99% of the outstanding shares of common stock.
The 5,978 shares of Series A Preferred Stock had a stated value of $1,000 per share, plus an aggregate of $2,581,162 of Series A added stated value (accrued interest added to the stated value pursuant to the certificate of designations of Series A Preferred Stock), for an aggregate stated value of $8,559,162, convertible into common stock at a conversion price of $5.00 per share. Therefore, the 5,978 shares of Series A Preferred Stock, with an aggregate stated value of $8,559,162, were convertible into 1,711,832 shares of common stock prior to execution of the Securities Exchange Agreement referred to in footnote 1.
The 9,802 shares of Series B Preferred Stock had a stated value of $1,000 per share and prior to the execution of the Securities Exchange Agreement referred to in footnote 1 were convertible into common stock at a conversion price of $7.50 per share. Pursuant to the Securities Exchange Agreement, the conversion price was amended to $4.00 per share. Therefore, the 9,802 shares of Series B Preferred Stock were convertible into 1,306,933 shares of common stock prior to execution of the Securities Exchange Agreement, and 2,450,000 shares immediately thereafter and upon conversion.