Henry Carl Nisser - Mar 6, 2023 Form 4/A - Amendment Insider Report for Ecoark Holdings, Inc. (BNMV)

Role: President, Director
Signature: /s/ Henry Nisser
Stock symbol: BNMV
Transactions as of: Mar 6, 2023
Transactions value $: $0
Form type: 4/A - Amendment
Date filed: 3/8/2023, 06:35 PM
Date Of Original Report: Mar 7, 2023
Previous filing: Jan 11, 2023
Next filing: Apr 7, 2023

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	BNMV	Series C Convertible Preferred Stock	Award		+150			150	Mar 6, 2023	Common Stock	6M	$0.25	Direct	F1, F2, F3, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to a Share Exchange Agreement, as amended, by and among the Issuer and Ault Alliance, Inc. as majority shareholder of BiNile.com, Inc., and certain minority shareholders of BiNile.com, Inc. including the Reporting Person, the Reporting Person acquired 150 shares of the Issuer's Series C Convertible Preferred Stock (the "Series C") in exchange for 150,000 shares of BitNile.com, Inc. Each share of the Issuer's Series C is convertible by dividing the stated value of $10,000 by $0.25, subject to a 4.99% beneficial ownership limitation.
F2	The Series C Convertible Preferred Stock is not convertible until one day after the record date for shareholder approval of the Share Exchange Agreement, as amended. The conversion rights are also subject to certain beneficial ownership limitations contained in the Certificate of Designation for the Series C and the 19.9% beneficial ownership limitation imposed by the Rules of the Nasdaq Stock Market without shareholder approval. The voting rights of the Series C are also subject to certain limitations so that prior to conversion the Series C votes on a less than one to one as converted basis.
F3	The Series C has no expiration date.
F4	On March 7, 2023, the Reporting Person filed a Form 4 which inadvertently transposed the number of derivative securities beneficially owned and the total number of shares of common stock underlying the derivative securities. In addition, the price of derivative security was inadvertently listed as the conversion price, rather than disclosing the consideration paid, which was other than cash. Other than revising the foregoing and inserting footnotes 4 and 5, no other changes are being made to the original Form 4 hereby.
F5	Taking into account the 4.99% beneficial ownership limitation, the Reporting Person's beneficial ownership would be 49.4572 shares of the Series C, which are convertible into 1,978,288 shares of common stock.