-----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, ExI1rEzcos1cWSmvKaiN6/fXkLTuvJb3iU8vgtZsUKBvR/a/p3NF5ge/Gkij9nYZ 9b0GDR4vlFrW3oxbj/pSFw== 0000940863-04-000007.txt : 20041210 0000940863-04-000007.hdr.sgml : 20041210 20041210115340 ACCESSION NUMBER: 0000940863-04-000007 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041008 FILED AS OF DATE: 20041210 DATE AS OF CHANGE: 20041210 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: MACE SECURITY INTERNATIONAL INC CENTRAL INDEX KEY: 0000912607 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL ORGANIC CHEMICALS [2860] IRS NUMBER: 030311630 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1000 CROWFORD PLACE STREET 2: SUITE 400 CITY: MOUNT LAUREL STATE: NJ ZIP: 08054 BUSINESS PHONE: 8567782300 MAIL ADDRESS: STREET 1: 160 BENMONT AVE CITY: BENNINGTON STATE: VT ZIP: 05201 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: PAOLINO LOUIS D JR CENTRAL INDEX KEY: 0000940863 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-22810 FILM NUMBER: 041195186 BUSINESS ADDRESS: STREET 1: 1000 CROWFORD PLACE STREET 2: SUITE 400 CITY: MT LAUREL STATE: NJ ZIP: 08054 BUSINESS PHONE: 8567782300 MAIL ADDRESS: STREET 1: 1000 CRAWFORD PLACE STREET 2: SUITE 400 CITY: MT LAUREL STATE: NJ ZIP: 08054 4 1 primary_doc.xml PRIMARY DOCUMENT X0202 4 2004-10-08 0 0000912607 MACE SECURITY INTERNATIONAL INC MACE 0000940863 PAOLINO LOUIS D JR 1000 CRAWFORD PLACE SUITE 400 MT LAUREL NJ 08054 1 1 0 0 CEO, Chairman & President Common Stock 2004-12-08 4 J 0 0 D 2980640 D On April 21, 2004 Mr. Paolino borrowed $4,105,500 on a limited non-recourse basis (under certain circumstances the loan was recourse) and secured the loan with a pledge of 1,190,000 shares of Mace Security International, Inc. common stock. On November 3, 2004, Mr. Paolino received a notice dated November 2, 2004 from the lender that asserted that (i) Mr. Paolino was in default of the loan, and (ii) the lender would exercise its purported rights under the loan agreements. The lender has asserted that its purported rights under the loan agreement include the right to (i) terminate the loan agreement and (ii) take possession of the pledged stock. Mr. Paolino does not believe that the lender is entitled to terminate the loan and take possession of the pledged stock. The lender maintains that Mr. Paolino defaulted on the loan by failing to pay an interest payment when due, although Mr. Paolino tendered the interest payment to the lender upon receiving the notice dated November 2, 2004 and the lender accepted the payment. The value of the pledged stock at the close of market on December 8, 2004 was $5,961,900, which exceeds the loan by $1,856,400. Mr. Paolino intends to contest the lender's actions. Mr. Paolino and the lender had agreed to a standstill agreement while negotiating their dispute. The standstill agreement expired on December 8, 2004. During the standstill agreement the Lender had agreed that it would not sell or otherwise dispose of the pledged shares. As of the date of this Form 4, Mr. Paolino does not know whether the Lender has sold the pledged shares and the Lender has declined to provide any information regarding the current disposition of the shares. This amount is the number of shares beneficially owned by Mr. Paolino without deduction of the 1,190,000 pledged shares. Louis D. Paolino, Jr. 2004-12-10 -----END PRIVACY-ENHANCED MESSAGE-----