0001415889-20-003041.txt : 20201228 0001415889-20-003041.hdr.sgml : 20201228 20201228200306 ACCESSION NUMBER: 0001415889-20-003041 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20201223 FILED AS OF DATE: 20201228 DATE AS OF CHANGE: 20201228 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: HERSHEY ADAM CENTRAL INDEX KEY: 0001440975 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-54457 FILM NUMBER: 201419803 MAIL ADDRESS: STREET 1: 140 RIVERSIDE BOULEVARD STREET 2: APT 2302 CITY: NEW YORK STATE: NY ZIP: 10069 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL CANNABIS CORP CENTRAL INDEX KEY: 0001477009 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-DETECTIVE, GUARD & ARMORED CAR SERVICES [7381] IRS NUMBER: 208096131 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 6565 EAST EVANS AVENUE CITY: DENVER STATE: CO ZIP: 80224 BUSINESS PHONE: 303-759-1300 MAIL ADDRESS: STREET 1: 6565 EAST EVANS AVENUE CITY: DENVER STATE: CO ZIP: 80224 FORMER COMPANY: FORMER CONFORMED NAME: Advanced Cannabis Solutions, Inc. DATE OF NAME CHANGE: 20131023 FORMER COMPANY: FORMER CONFORMED NAME: Promap Corp DATE OF NAME CHANGE: 20091117 4 1 form4-12282020_051256.xml X0306 4 2020-12-23 0001477009 GENERAL CANNABIS CORP CANN 0001440975 HERSHEY ADAM 6 POMPANO ROAD RUMSON NJ 07760 true false true false Senior Convertible Promissory Note 0.65 2020-12-23 4 P 0 76923 A 2020-12-23 2023-12-23 Common stock 76923 76923 D Warrants 0.56 2020-12-23 4 P 0 35715 A 2020-12-23 2025-12-23 Common stock 35715 35715 D Pursuant to a Securities Purchase Agreement ("SPA") entered into on December 23, 2020 by the Reporting Person and the Issuer, each Senior Convertible Promissory Note (the "Note") accrues interest at a rate of 10% per annum. The Reporting Person purchased a Note in the principal amount of $100,000 and has the option to convert up to 50% of the outstanding unpaid principal and accrued interest of the Note into the Issuer's Common Stock at a variable price of 80% of the market price but no less than $0.65 per share and no more than $1.00 per share. In connection with the SPA, the Reporting Person also received Warrants to purchase the number of shares of the Issuer's Common Stock equal to 20% of the principal amount of the Note divided by the exercise price of $0.56. /s/ Adam Hershey 2020-12-28