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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
317340	Mikros Systems Corp	MKRS.OB	Measuring & Controlling Devices, Nec (3829)	141598200

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1279889	J Thomas Meaney	12 Fairhill Drive Chadds Ford PA 19317	President And Cfo	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Redeemable Series C Preferred Stock	Disposition	2016-06-16	5,000	$0.00	0	No	4	S	Direct
Series D Preferred Stock	Disposition	2016-06-16	138,000	$0.00	0	No	4	S	Direct
Common Stock	Acquisiton	2016-06-16	2,533,168	$0.00	6,045,235	No	4	P	Direct

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

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Convertible Preferred Stock	Convertible Preferred Stock	Disposition	2016-06-16	50,000	$0.00	50,000	$0.00
Series B Convertible Preferred Stock	Series B Convertible Preferred Stock	Disposition	2016-06-16	649,925	$0.00	649,925	$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	S	Direct

Footnotes

The reporting person entered into an Exchange Agreement with the Issuer on June 16, 2016 (the "Exchange Agreement"). Under the Exchange Agreement, certain shares of preferred stock were exchanged for cash and shares of common stock as follows: (i) each share of Convertible Preferred Stock was exchanged for $0.165 in cash and 1.95 shares of common stock; (ii) each share of Series B Convertible Preferred Stock was exchanged for $0.0825 in cash and 2.43 shares of common stock; (iii) each share of Redeemable Series C Preferred Stock was exchanged for $2.708 in cash and 31.27 shares of common stock; and (iv) each share of Series D Preferred Stock was exchanged for $0.36232 in cash and 5.072464 shares of common stock.
Each share of Convertible Preferred Stock was convertible at any time into one share of common stock, and had no expiration date.
Each share of Series B Convertible Preferred Stock was convertible at any time into three shares of common stock, and had no expiration date.