UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)
NEWLEAD HOLDINGS, LTD
(Name of Issuer)
Common Stock, $.01 Par Value
(Title of Class of Securities)
G64626305
(CUSIP Number)
May 12, 2016
(Date of Event Which Requires Filing of This Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Newlead Holdings, Ltd.
Item 1(b). Address of Issuer’s Principal Executive Offices:
83 Akti Miaouli & Flessa Street
185 38 Piraeus Greece
Item 2(a). Names of Persons Filing:
This Statement is filed by Perian Salviola (the “Reporting Person”).
Item 2(b). Addresses of Principal Business Offices or, if none, Residences:
The address of the principal business office for Perian Salviola is 595 S. Federal Highway, Suite 300, Boca Raton, FL 33432.
Item 2(c). Citizenship:
United States
Item 2(d). Title of Class of Securities:
Common Stock, $.01 Par Value
Item 2(e). CUSIP Number:
G64626305
Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
None apply.
Item 4. Ownership:
| (a) | The Reporting Person may be deemed to have beneficially owned 3,950,000 shares of Common Stock through her ownership of Pallas Holdings, LLC. The Reporting Person is a member and the sole manager of Pallas Holdings, LLC. |
The shares owned by the Reporting Person were issued in connection with the sale to a subsidiary of the Issuer by Pallas Highwall Mining LLC of Viking Prep Plant, LLC.
In the Viking Prep Plant transaction, as part of the consideration, the Issuer issued a convertible note in the original principal amount of $24,000,000. In May 2015, the Company issued the Reporting Person 3,450,000 shares toward payment of such note. From January 5, 2016 through May 6, 2016, the Reporting Person sold 2,665,213 shares previously held. The Company has the option to pay the principal and interest in cash or shares of common stock. The acquisition agreement also includes a true-up of the proceeds from such shares, but the amount cannot be calculated until such time as all shares issued as consideration of the purchase price have been sold.
| (b) | Percent of class of Common Stock beneficially owned by the Reporting Persons: | 6.3% |
| | (c) | Number of shares of Common Stock to which each Reporting Person has: |
| | (i) | sole power to vote or to direct the vote: |
See Item 5 of cover page, which is incorporated herein by reference.
| | (ii) | shared power to vote or to direct the vote: |
See Item 6 of cover page, which is incorporated herein by reference.
| | (iii) | sole power to dispose or to direct the disposition of: |
See Item 7 of cover page, which is incorporated herein by reference.
| | (iv) | shared power to dispose or to direct the disposition of: |
See Item 8 of cover page, which is incorporated herein by reference.
Item 5. Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following £.
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
Not applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company:
Not applicable.
Item 8. Identification and Classification of Members of the Group:
Not applicable.
Item 9. Notice of Dissolution of Group:
Not applicable.
Item 10. Certification:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
