Sec Form 4 Filing - Slipstream Communications, LLC @ CREATIVE REALITIES, INC. - 2022-02-17

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person Slipstream Communications, LLC 2. Issuer Name and Ticker or Trading Symbol CREATIVE REALITIES, INC. [ CREX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O PEGASUS CAPITAL ADVISORS, L.P., 750 EAST MAIN STREET, SUITE 600 3. Date of Earliest Transaction (MM/DD/YY) 02/17/2022 (Street) STAMFORD, CT06902 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Common Stock Warrant (right to buy) $ 2 02/17/2022 A 5,194,495 08/17/2022 02/10/2027 Common Stock 5,194,495 ( 1 ) 5,194,495 I See footnotes( 2 )( 3 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Slipstream Communications, LLC C/O PEGASUS CAPITAL ADVISORS, L.P. 750 EAST MAIN STREET, SUITE 600 STAMFORD, CT06902 X Business Services Holdings, LLC C/O PEGASUS CAPITAL ADVISORS, L.P. 750 EAST MAIN STREET, SUITE 600 STAMFORD, CT06902 X Slipstream Funding, LLC C/O PEGASUS CAPITAL ADVISORS, L.P. 750 EAST MAIN STREET, SUITE 600 STAMFORD, CT06902 X BCOM GP LLC C/O PEGASUS CAPITAL ADVISORS, L.P. 750 EAST MAIN STREET, SUITE 600 STAMFORD, CT06902 X BCOM Holdings, LP C/O PEGASUS CAPITAL ADVISORS, LP 750 EAST MAIN STREET, SUITE 600 STAMFORD, CT06902 X COGUT CRAIG M C/O PEGASUS CAPITAL ADVISORS, L.P. 750 EAST MAIN STREET, SUITE 600 STAMFORD, CT06902 X PEGASUS CAPITAL LLC C/O PEGASUS CAPITAL ADVISORS, L.P. 750 EAST MAIN STREET, SUITE 600 STAMFORD, CT06902 X Pegasus Investors IV GP, LLC C/O PEGASUS CAPITAL ADVISORS, L.P. 750 EAST MAIN STREET, SUITE 600 STAMFORD, CT06902 X Pegasus Investors IV, L.P. C/O PEGASUS CAPITAL ADVISORS, L.P. 750 EAST MAIN STREET, SUITE 600 STAMFORD, CT06902 X Signatures Slipstream Funding, LLC, By: /s/ Brian Friedman, Name: Brian Friedman, Title: General Counsel 12/16/2022 Signature of Reporting Person Date Slipstream Communication, LLC, By: /s/ Brian Friedman, Name: Brian Friedman, Title: General Counsel 12/16/2022 Signature of Reporting Person Date BCOM Holdings, LP, By: /s/ Brian Friedman, Name: Brian Friedman, Title: General Counsel 12/16/2022 Signature of Reporting Person Date BCOM GP LLC, By: /s/ Brian Friedman, Name: Brian Friedman, Title: General Counsel 12/16/2022 Signature of Reporting Person Date Business Services Holdings, LLC, By: /s/ Brian Friedman, Name: Brian Friedman, Title: General Counsel 12/16/2022 Signature of Reporting Person Date Pegasus Investors IV, L.P., By: Pegasus Investors IV GP, L.L.C., its general partner, By: /s/ Brian Friedman, Name: Brian Friedman, Title: General Counsel 12/16/2022 Signature of Reporting Person Date Pegasus Investors IV GP, L.L.C., By: /s/ Brian Friedman, Name: Brian Friedman, Title: General Counsel 12/16/2022 Signature of Reporting Person Date Pegasus Capital, LLC, By: /s/ Craig Cogut, Name: Craig Cogut, Title: Managing Member 12/16/2022 Signature of Reporting Person Date /s/ Craig Cogut, Craig Cogut 12/16/2022 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The reported securities were received in connection with the Reporting Persons entry into certain debt financing arrangements to fund the Issuer's acquisition of Reflect Systems, Inc. on February 17, 2022 as disclosed in the Issuer's Form 8-K filed on February 18, 2022. ( 2 )The reported securities were acquired and are held directly by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Pegasus Investors IV, L.P. ("Pegasus Investors") directly and indirectly holds 100% of the interests in Business Services Holdings. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors. ( 3 )Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital"). Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaim beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.