SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
West Benjamin B

(Last) (First) (Middle)
3405 W DR MARTIN LUTHER KING JR BLVD
SUITE 101

(Street)
TAMPA FL 33607

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
COMPREHENSIVE CARE CORP [ CHCR ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
04/14/2010
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common stock 4,000,000 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Convertible promissory note(1) $0.25 04/14/2010 P 400,000 04/14/2010 04/14/2011 Common 400,000 $0.25 400,000 D
Warrant to purchase common stock(2) $0.25 04/14/2010 P 50,000 04/14/2010 04/14/2015 Common 50,000 $0.25 50,000 D
Explanation of Responses:
1. On April 14, 2010, Mr. West purchased a Convertible Promissory Note in the amount of $100,000 issued by Comprehensive Care Corporation. The Note matures April 14, 2011, and accrues interest payable quarterly in arrears at the rate of 24.0% per annum. At any time prior to the maturity date of the Note, Mr. West may elect to convert the outstanding balance of the Note plus any accrued interest into shares of the Company's common stock at $0.25 per share. Comprehensive Care Corporation has the right to prepay all or part of the Note after thirty days from the issue date upon providing Mr. West with five days written notice during which time Mr. West may exercise all or any portion of his conversion rights previously described.
2. In conjunction with Mr. West's purchase of a convertible promissory note on April 14, 2010, Mr. West was issued a warrant by Comprehensive Care Corporation. The warrant was issued April 14, 2010 and allows Mr. West to purchase 50,000 shares of the Issuer's common stock at $0.25 per share at any time prior to the April 14, 2015 expiration date of the warrant.
Remarks:
/s/ Scott Bates as attorney-in-fact for Benjamin B. West 06/10/2010
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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