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Filing Details

Accession Number:: 0001209191-17-026444
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-04-10 18:16:59
Reporting Period:: 2017-03-31

Accepted Time:: 2017-04-10 17:16:59
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1168220	Uluru Inc.	ULUR	Pharmaceutical Preparations (2834)	412118656

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1703243	Velocitas Partners Llc	2113 Duck Hunter Point Florence SC 29501		No	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	Acquisiton	2017-03-31	13,375,000	$0.00	13,375,000	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
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	Secured Convertible Promissory Note	Acquisiton	2017-03-31	500,000	$500,000.00	12,500,000	$0.04
Common Stock	Warrant (Right to Buy)	Acquisiton	2017-03-31	57,055,057	$0.00	57,055,057	$0.04
Common Stock	Series B Convertible Preferred Stock	Acquisiton	2017-03-31	1,250	$4,000.00	125,000,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
1,000,000	2017-03-31	2019-02-27	No	4	P	Direct
57,055,057	2017-03-31	2027-03-31	No	4	P	Direct
125,000,000			No	4	P	Indirect

Footnotes

The Reporting Person acquired shares of the Issuer's Common Stock in consideration for the assignment to the Issuer by an affiliate of the Reporting Person of certain distributor agreements that the entities related to the Reporting Person has entered into with third parties to distribute Altrazeal on an exclusive basis in certain markets.
The principal amount of, and accrued interest on, the Secured Convertible Promissory Note (the "Note") is convertible into shares of Common Stock of the Issuer at the conversion price: (i) at the option of the Reporting Person at any time; or (ii) automatically on February 27, 2019 (the "Maturity Date") unless an Event of Default (as defined in the Note) is occurring and continuing as of the Maturity Date.
The warrant was issued for no additional consideration in connection with the offer and sale of the Note on the same day.
Each share of Series B Convertible Preferred Stock has no expiration date and is currently convertible into 100,000 shares of the Issuer's common stock, provided that no holder of shares of Series B Preferred Stock shall be entitled to convert such share to the extent that the conversion of such share of Series B Preferred Stock would require the issuance of a number of shares of Common Stock of the Issuer that then exceed the number of authorized but unissued shares of Common Stock of the Issuer as of the date of such conversion.
The shares of Series B Convertible Preferred Stock were purchased by Velocitas I LLC, an affiliate of the Reporting Person. The Reporting Person is the sole member of Velocitas Manager LLC, the manager of Velocitas I LLC. As a result, the Reporting Person shares the power to vote, acquire, hold and dispose of the shares owned by the Velocitas I LLC. The Reporting Person disclaims beneficial ownership of the securities owned by Velocitas I LLC except to the extent of its pecuniary interest therein.