Paul L. Kessler - Oct 11, 2023 Form 4 Insider Report for Prairie Operating Co. (CRKR)

Role
Director, 10%+ Owner
Signature
/s/ Paul L. Kessler
Stock symbol
CRKR
Transactions as of
Oct 11, 2023
Transactions value $
$0
Form type
4
Date filed
10/13/2023, 01:59 PM
Previous filing
Sep 27, 2023
Next filing
Jan 2, 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRKR Common Stock Conversion of derivative security $1M +5.71M +18.39% $0.18 36.8M Oct 11, 2023 By affiliate F1, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CRKR Convertible Debenture Conversion of derivative security -$1M 0 Oct 11, 2023 Common Stock 5.71M $0.18 By affiliates
holding CRKR Series D Preferred Stock 22.8M Oct 11, 2023 Series Preferred Stock 22.8M By affiliates F2
holding CRKR Warrant 2.43M Oct 11, 2023 Warrant 2.43M By affiliates F2
holding CRKR Warrant 14.3M Oct 11, 2023 Warrant 14.3M By affiliates F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On 10/11/23, Bristol Investment Fund, Ltd. ("BIF") converted the principal amount of $1,000,000 of an amended and restated convertible debenture issued by the Issuer on 5/3/23 at $0.175 per share into 5,714,286 shares of common stock of the Issuer.
F2 BIF holds 3,985.36 shares of Series D Preferred Stock (with stated value of $1,000 per share), convertible at $0.175 per share, a Series D "A" warrant for 1,231,483 shares (expires May 2028) and a Series D "B" warrant for 1,213,483 shares (expires May 2024).
F3 Mr. Kessler has voting and dispositive control over the following securities: (i) 25,810,197 shares of common stock held by Bristol Investment Fund, Ltd., a Cayman Islands exempted company ("BIF") (managed by Bristol Capital Advisors, LLC, a Delaware LLC), (ii) 10,976,011 shares of common stock held by Bristol Capital, LLC, a Delaware LLC ("BC"), (iii) 3,985.36 shares of Series D Preferred Stock held by BIF, (iv) a Series D "A" warrant for 1,231,483 shares of common stock and a Series D "B" warrant for 1,213,483 shares of common stock held by BIF, and (v) a warrant to purchase a total of 14,285,714 shares of common stock of the Issuer, half of which expire in May 2024 with the other half expiring in May 2028, held by BIF.