Carlos Agüero and Metalico, Inc.
Mr. Agüero served as a director of the Company from February 7, 2011 until his resignation on June 7, 2012.
Mr. Agüero serves as the Chairman, President and Chief Executive Officer of Metalico, Inc. ("Metalico").
Additionally, Mr. Agüero served as the Chairman of the Board of Beacon from September 2006 to February 2011, and as the President of Beacon from February 2009 to February 2011.
As of September 24, 2013, Mr. Agüero
, collectively, beneficially owned 3,043,864 shares of our common stock.
On February 7, 2011, in connection with the Beacon
Merger, we issued to Mr. Agüero
a subordinated promissory note of Beacon in the principal amount of $350,000, accruing interest at 10% per annum and due and payable on February 7, 2012 (the "Beacon Director Note"), in exchange for $350,000 of advances made prior to the Beacon Merger to pay Beacon's operating expenses.
On March 30, 2012, the Company paid Mr. Agüero
$300,000 in cash as payment in full of the Beacon Director Note, including the outstanding $350,000 unpaid principal and $40,466 accrued but unpaid interest thereon, and the Beacon Director Note was cancelled.
On February 7, 2011, in connection with the Beacon Merger, we issued to Mr. Agüero
a Beacon Merger Note in principal amount of $150,000 and 27,533 shares of common stock in exchange for an Old Beacon Note in the same principal amount and $39,092 of accrued and unpaid interest thereon.
On January 10 , 2013, in connection with the completion of the Biodiesel Transaction, the Company paid Mr. Agüero cash as payment in full of his
Beacon Merger Note, including the outstanding unpaid principal and accrued but unpaid interest thereon, and his
Beacon Merger Note was cancelled.
The amount paid to Mr. Agüero
Beacon Merger Note is presented in the table below.
On May 13, 2011, Mr. Agüero
purchased a May 13 Note in principal amount of $50,000 for $50,000 in cash.