-----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, RIao3H/Q4Vq1SPvSmayp9hptl4crKXuTLynkCp/Qzn9+nh+tlMLfR34/pnh29hT9 DXUqWaARYY0T1zkCsb/mZw== 0001201800-08-000075.txt : 20080716 0001201800-08-000075.hdr.sgml : 20080716 20080716110131 ACCESSION NUMBER: 0001201800-08-000075 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080714 FILED AS OF DATE: 20080716 DATE AS OF CHANGE: 20080716 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: DIRECT INSITE CORP CENTRAL INDEX KEY: 0000879703 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 112895590 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 80 ORVILLE DR CITY: BOHEMIA STATE: NY ZIP: 11716 BUSINESS PHONE: 631-873-2900 MAIL ADDRESS: STREET 1: 80 ORVILLE DRIVE CITY: BOHEMIA STATE: NY ZIP: 11716 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER CONCEPTS CORP /DE DATE OF NAME CHANGE: 19930328 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: CANNAVINO JAMES A CENTRAL INDEX KEY: 0001220686 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-20660 FILM NUMBER: 08954446 BUSINESS ADDRESS: STREET 1: DIRECT INSITE CORP STREET 2: 80 ORVILLE DR CITY: BOHEMIA STATE: NY ZIP: 11716 BUSINESS PHONE: 6312441500 4 1 edgar.xml PRIMARY DOCUMENT X0303 4 2008-07-14 0000879703 DIRECT INSITE CORP DIRI.OB 0001220686 CANNAVINO JAMES A 6501 RED HOOK PLAZA SUITE 201 - PMB RED HOOK, ST. THOMAS, U.S.V.I. VI 00802 VIRGIN ISLANDS, U.S. 1 1 0 0 Chairman of the Board & CEO Common Stock 1063817 D Common Stock 2008-07-14 4 X 0 360000 1.16 A 1423.817 D Series C Redeemable Preferred Stock 200 D 2003 and 2003A Stock Option Plans Right to Buy 1.16 2008-07-14 4 X 0 360000 1.16 D 2003-01-27 2008-12-31 Common Stock 360000 613950 D 2004 Stock Issuance/Stk Option Plan 1.50 2008-03-25 4 A 0 50000 1.50 A 2008-03-25 2013-03-24 Common Stock 50000 973950 D 2005 Employee Option Plan .62 2005-12-30 4 A 0 350000 .62 A 2005-12-30 2012-12-29 Common Stock 350000 923950 D Common Stock Purchase Warrants .9348 2003-12-18 4 P 0 149765 .9348 A 2005-12-18 2008-12-18 Common Stock 149765 573950 D Common Stock Purchase Warrants .9348 2003-12-15 4 P 0 64185 .9348 A 2005-12-15 2008-12-15 Common Stock 64185 424185 D Warrants to purchase common stock are exercisable at the rate of no less than 500 shares at a time during the term of the Warrants. 37,500 vest 12/5/03; 322,500 shares vest at the rate of 7,500 per month commencing on the 5th day of each month commencing 1/5/04 for 43 months. Shares vest 50% on March 25, 2008 and 50% on March 25, 2009. /s/ James A. Cannavino 2008-07-16 -----END PRIVACY-ENHANCED MESSAGE-----