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Filing Details

Accession Number:: 0001580695-17-000004
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-01-05 17:56:10
Reporting Period:: 2017-01-03

Filing Date:: 2017-01-05
Accepted Time:: 2017-01-05 17:56:10
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1309082	Lucas Energy Inc.	CEI	Crude Petroleum & Natural Gas (1311)	980417780

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1682851	Nathan Richard Ii Azar	Po Box 6172 San Antonio TX 78209	Yes	No	Yes	No
1683885	Segundo Resources, Llc	Po Box 6172 San Antonio TX 78209	No	No	No	Yes
1683886	Rad2 Management, Llc	Po Box 6172 San Antonio TX 78209	No	No	No	Yes
1683887	Rad2 Minerals, Ltd	Po Box 6172 San Antonio TX 78209	No	No	No	Yes

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	2017-01-03	760,997	$0.00	3,409,385	No	4	S	Indirect	See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Footnotes

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series B Redeemable Convertible Preferred Stock	Acquisiton	2017-01-05	106,508	$25.00	760,467	$3.50

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
364,508	2016-08-25		No	4	P	Indirect

Footnotes

Richard N. Azar II, may be deemed to beneficially own: RAD2 Minerals, Ltd. ("RAD2", which directly owns 3,409,385 shares of the common stock, par value $0.001 per share of the Issuer ("Common Stock"), and 200,000 shares of the Series B Redeemable Convertible Preferred Stock (the "Series B Preferred Stock") of the Issuer); and Segundo Resources, LLC ("Segundo", which, following the transactions contemplated by this Form 4, directly owns 58,000 shares of Series B Preferred Stock of the Issuer) and as such indirectly beneficially owns the Common Stock held by RAD2 and the Series B Preferred Stock held by RAD2 and Segundo. RAD2 Management, LLC ("RAD2 LLC") as general partner of RAD2, may be deemed to beneficially own the securities held by RAD2. Mr. Azar is the manager of RAD2 LLC and is the managing member of Segundo.
RAD2 and RAD2 LLC, which are also reporting their ownership on this Form 4, do not have a pecuniary interest in the securities owned by Mr. Azar or Segundo.
Segundo, which is also reporting its ownership on this Form 4, does not have a pecuniary interest in the securities owned by Mr. Azar, RAD2 LLC or RAD2.
The Series B Preferred Stock has a face value of $25 per share and is convertible into Common Stock at a conversion price of $3.50 per share, at the option of the holder thereof, or automatically as to 25% of the Series B Preferred Stock shares if the Common Stock trades above $6.125 per25 share for at least 20 consecutive trading days, and trades with at least 75,000 shares of average volume per day (the "Trading Requirements"); an additional 50% if the Common Stock trades above $7.00 per share and meets the Trading Requirements; and as to the remaining Series B Preferred Stock shares, if the Common Stock trades above $7.875 per share and meets the Trading Requirements.
Each outstanding share of Series B Preferred Stock is entitled to one vote per share on all stockholder matters. The Series B Preferred Stock is redeemable at any time by the Issuer upon the payment by the Issuer of the face amount of the Series B Preferred Stock ($25 per share) plus any and all accrued and unpaid dividends thereon.
In connection with the Issuer's entry into a $40 million Loan Agreement on August 25, 2016, RAD2 pledged 3,120,606 shares of Common Stock to the lender in order to secure amounts owed under the Loan Agreement. RAD2 also agreed to pledge 288,779 shares of common stock to the Issuer pursuant to the terms of a Letter Agreement, described in greater detail in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on August 31, 2016.