Amended Statement of Changes in Beneficial Ownership (4/a)

Date : 07/12/2019 @ 3:02PM
Source : Edgar (US Regulatory)
Stock : Acura Pharmaceuticals, Inc. (QB) (ACUR)
Quote : 0.34  0.0 (0.00%) @ 5:54PM

Amended Statement of Changes in Beneficial Ownership (4/a)

FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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OMB Number: 3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Schutte John
2. Issuer Name and Ticker or Trading Symbol

ACURA PHARMACEUTICALS, INC [ ACUR ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

333 EAST MAIN STREET, SUITE 200
3. Date of Earliest Transaction (MM/DD/YYYY)

6/28/2019
(Street)

LOUISVILLE, KY 40202
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

7/11/2019 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock                  8912655   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant to Purchase Common Stock   $0.528                    7/24/2017   7/23/2022   Common Stock   1782531     1782531   D    
Warrant to Purchase Common Stock   $0.01                    6/28/2019   6/28/2024   Common Stock   10000000     10000000   I   By Abuse Deterrent Parma, LLC   (1)
Convertible Promissory Note   $0.16                    6/28/2019     (2) Common Stock   37500000   (3)   37500000   (3) I   By Abuse Deterrent Parma, LLC   (4)

Explanation of Responses:
(1)  The Reporting Person is the manager and indirect 61.1% owner of Abuse Deterrent Pharma, LLC ("AD Pharma"). The Reporting Person hereby disclaims beneficial ownership of the warrant, except to the extent of any pecuniary interest therein, and this report shall not be deemed an admission that such person is the beneficial owner of the warrant for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
(2)  The note is convertible, at the election of AD Pharma, at any time prior to repayment of the note and matures on July 1, 2023.
(3)  Does not include interest on the note, which accrues at the rate of 7.5% per annum. At the election of AD Pharma, all principal and accrued interest under the note may be converted into the Issuer's common stock. For each $0.16 converted, AD Pharma will receive one share of common stock.
(4)  The Reporting Person is the manager and indirect 61.1% owner of AD Pharma. The Reporting Person hereby disclaims beneficial ownership of the note, except to the extent of any pecuniary interest therein, and this report shall not be deemed an admission that such person is the beneficial owner of the note for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Remarks:
This amendment is being filed to correct the number of shares reported as beneficially owned in respect of the note in Boxes 7 and 9.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Schutte John
333 EAST MAIN STREET, SUITE 200
LOUISVILLE, KY 40202

X


Signatures
/s/ John Schutte 7/12/2019
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

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