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Filing Details

Accession Number:: 0001437749-15-002664
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2015-02-13 16:30:52
Reporting Period:: 2013-01-25

Filing Date:: 2015-02-13
Accepted Time:: 2015-02-13 16:30:52
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
894237	Vision Sciences Inc	VSCI	Electromedical & Electrotherapeutic Apparatus (3845)	133430173

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
901507	C Lewis Pell	C/O Vision-Sciences, Inc. 40 Ramland Road South, Suite 1 Orangeburg NY 10962		Yes	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, $0.01 Par Value Per Share	Acquisiton	2015-02-12	15,000	$0.46	8,898,740	No	4	P	Direct
Common Stock, $0.01 Par Value Per Share	Acquisiton	2015-02-11	20,000	$0.46	8,883,740	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	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	Convertible Promissory Note	Acquisiton	2013-01-25	1,000,000	$0.00	833,333	$1.20
Common Stock	Convertible Promissory Note	Acquisiton	2013-03-12	1,000,000	$0.00	833,333	$1.20
Common Stock	Convertible Promissory Note	Acquisiton	2013-04-19	1,000,000	$0.00	833,333	$1.20
Common Stock	Convertible Promissory Note	Acquisiton	2013-06-10	1,000,000	$0.00	833,333	$1.20
Common Stock	Convertible Promissory Note	Acquisiton	2013-07-24	1,000,000	$0.00	833,333	$1.20
Common Stock	Convertible Promissory Note	Acquisiton	2013-10-07	1,000,000	$0.00	1,123,595	$0.89
Common Stock	Convertible Promissory Note	Acquisiton	2013-11-26	1,000,000	$0.00	1,123,595	$0.89
Common Stock	Convertible Promissory Note	Acquisiton	2014-01-21	1,000,000	$0.00	1,123,595	$0.89
Common Stock	Convertible Promissory Note	Acquisiton	2014-03-13	500,000	$0.00	561,797	$0.89
Common Stock	Convertible Promissory Note	Acquisiton	2014-06-16	1,000,000	$0.00	900,900	$1.11
Common Stock	Convertible Promissory Note	Acquisiton	2014-08-12	1,000,000	$0.00	900,900	$1.11
Common Stock	Convertible Promissory Note	Acquisiton	2014-10-24	1,000,000	$0.00	900,900	$1.11

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
15,213,953	2013-01-25	2017-09-19	No	4	J	Direct
16,047,286	2013-03-12	2017-09-19	No	4	J	Direct
16,880,620	2013-04-19	2017-09-19	No	4	J	Direct
17,713,953	2013-06-10	2017-09-19	No	4	J	Direct
18,547,286	2013-07-24	2017-09-19	No	4	J	Direct
19,670,881	2013-10-07	2018-09-25	No	4	J	Direct
20,794,477	2013-11-26	2018-09-25	No	4	J	Direct
21,918,072	2014-01-21	2018-09-25	No	4	J	Direct
22,479,870	2014-03-13	2018-09-25	No	4	J	Direct
23,380,770	2014-06-16	2019-06-16	No	4	J	Direct
24,281,671	2014-08-12	2019-06-16	No	4	J	Direct
25,182,572	2014-10-24	2019-06-16	No	4	J	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, $0.01 Par Value Per Share	50,000	Indirect	By spouse
Common Stock, $0.01 Par Value Per Share	43,500	Indirect	By trust

Footnotes

The Issuer issued a $20.0 million revolving convertible promissory note to the Reporting Person on September 19, 2012 (the "2012 Note"). The Issuer borrowed an additional $1.0 million under the 2012 Note on January 25, 2013, March 12, 2013, April 19, 2013, June 10, 2013 and July 24, 2013, bring the aggregate principal amount outstanding under the 2012 Note to $20.0 million. The outstanding balance under the 2012 Note is convertible, at the Reporting Person's opinion, into shares of the Issuer's common stock at a fixed conversion price of $1.20 per share.
The Issuer issued a $3.5 million revolving convertible promissory note to the Reporting Person on September 23, 2013 (the "2013 Note"). The Issuer borrowed $1.0 million under the 2013 Note on October 7, 2013. November 26, 2013 and January 21, 2014 and $500,000 under the 2013 Note on March 13, 2014, bring the aggregate principal amount outstanding under the 2013 Note to $3.5 million. The outstanding balance under the 2013 Note is convertible, at the Reporting Person's opinion, into shares of the Issuer's common stock at a fixed conversion price of $0.89 per share.
The Issuer issued a $5.0 million revolving convertible promissory note to the Reporting Person on June 16, 2014 (the "2014 Note"). The Issuer borrowed $1.0 million under the 2014 Note on June 16, 2014, August 12, 2014 and October 24, 2014, bring the aggregate principal amount outstanding under the 2014 Note to $3.0 million. The outstanding balance under the 2014 Note is convertible, at the Reporting Person's opinion, into shares of the Issuer's common stock at a fixed conversion price of $1.11 per share