-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Bxy3U84/0R/VJtiwjzEvxHUdZ6LIcwSrc+tkoZEL1Sg83biW/gM2+JswKeytjtGM 4KDbr+lL1nJD0m4q3K8GRA== 0001204049-07-000003.txt : 20070913 0001204049-07-000003.hdr.sgml : 20070913 20070913101845 ACCESSION NUMBER: 0001204049-07-000003 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070912 FILED AS OF DATE: 20070913 DATE AS OF CHANGE: 20070913 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: DAVIS GEORGE M CENTRAL INDEX KEY: 0001204049 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-31265 FILM NUMBER: 071114652 BUSINESS ADDRESS: STREET 1: 11460 CRONRIDGE DRIVE CITY: OWINGS MILLS STATE: MD ZIP: 21117 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: AVATECH SOLUTIONS INC CENTRAL INDEX KEY: 0000852437 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 841035353 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 BUSINESS ADDRESS: STREET 1: 11403 CRONHILL DRIVE STREET 2: SUITE A CITY: OWING MILLS STATE: MD ZIP: 21117 BUSINESS PHONE: 4109026900 MAIL ADDRESS: STREET 1: 11403 CRONHILL DRIVE STREET 2: SUITE A CITY: OWING MILLS STATE: MD ZIP: 21117 FORMER COMPANY: FORMER CONFORMED NAME: PLANETCAD INC DATE OF NAME CHANGE: 20001117 FORMER COMPANY: FORMER CONFORMED NAME: SPATIAL TECHNOLOGY INC DATE OF NAME CHANGE: 19960708 4 1 primary_doc.xml PRIMARY DOCUMENT X0202 4 2007-09-12 0 0000852437 AVATECH SOLUTIONS INC AVSO.OB 0001204049 DAVIS GEORGE M 1 1 0 0 President and CEO Common stock purchase option 0.87 2007-09-12 4 A 0 75000 0 A 2017-09-12 Common Stock 75000 75000 D Common stock purchase option 0.87 2007-09-12 4 A 0 200000 0 A 2017-09-12 Common Stock 200000 200000 D One third of the award (25,000) shares are immediately vested and exercisable and one-third become vested and exercisable on July 1, 2008 and July 1, 2009. The award will vest on September 11, 2017 but acceleration of the vesting will occur if reported net income of Avatech Solutions, Inc. for the year ended June 30, 2008 is greater than $2 million. If the net income target is met and revenues from Services exceed $15.48 million, there is an additional acceleration of shares. The amount of accelerated vesting ranges from 20,000 shares if net income is $2 million to a total of 175,0000 shares if net income is greater than or equal to $5 million and the Services revenue target has been met. Lawrence Rychlak, Attorney-in-fact 2007-09-13 -----END PRIVACY-ENHANCED MESSAGE-----