Sec Form 4 Filing - Jackson Investment Group, LLC @ Staffing 360 Solutions, Inc. - 2018-11-15

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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
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1. Name and Address of Reporting Person
Jackson Investment Group, LLC
2. Issuer Name and Ticker or Trading Symbol
Staffing 360 Solutions, Inc. [ STAF]
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)
2655 NORTHWINDS PARKWAY
3. Date of Earliest Transaction (MM/DD/YY)
11/15/2018
(Street)
ALPHARETTA,, GA30009
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
Common Stock 11/15/2018 J( 1 ) 300,000 A $ 0 ( 1 ) 2,374,204 ( 2 ) ( 5 ) ( 6 ) D ( 5 )
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
Series E Convertible Preferred Stock $ 1.78 ( 3 ) 11/15/2018 J( 3 ) 13,000 10/31/2020( 3 ) ( 3 ) Common Stock 7,293,000 ( 3 ) $ 1,000 ( 3 ) 13,000 D ( 5 )
Series E-1 Convertible Preferred Stock $ 1.66 ( 4 ) 11/15/2018 J( 4 ) 650 ( 4 ) 11/15/2020( 4 ) ( 4 ) Common Stock 391,566 ( 4 ) ( 4 ) 650 ( 4 ) D ( 5 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Jackson Investment Group, LLC
2655 NORTHWINDS PARKWAY
ALPHARETTA,, GA30009
X
Jackson Richard Lee
2655 NORTHWINDS PARKWAY
ALPHARETTA,, GA30009
X
Signatures
/s/ Jackson Investment Group, LLC, by Richard L. Jackson, CEO 11/16/2018
Signature of Reporting Person Date
/s/ Richard L. Jackson 11/16/2018
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On November 15, 2018, Jackson Investment Group, LLC ("JIG LLC") acquired 300,000 shares of Common Stock as a commitment fee in connection with a transaction whereby JIG LLC exchanged $13,000,000 in outstanding principal (such outstanding principal amount, the "Debt Exchange Amount") of the total outstanding principal amount under that certain 12% Senior Secured Promissory Note due September 15, 2020, dated September 15, 2017 (the "Secured JIG Note") for the Company's issuance to JIG LLC of 13,000 shares of a new senior series of convertible Preferred Stock of the Company ("Series E Preferred Stock") (the "Debt Exchange").
( 2 )In connection with the Debt Exchange, JIG LLC and the Issuer amended that certain Amended and Restated Warrant, dated April 25, 2018, as amended by Amendment No. 1 to the Amended and Restated Warrant Agreement, dated August 27, 2018, by entering into that certain Amendment No. 2 to the Amended and Restated Warrant Agreement, dated November 15, 2018 between the Company and JIG LLC (the "A&R Warrant"). The A&R Warrant entitles JIG LLC to acquire up to 905,508 shares of Common Stock at $1.66 per share and may be exercised subject to the terms and conditions thereof, at any time before January 26, 2024. These shares are included as being beneficially owned in Table 1.
( 3 )Series E Preferred Stock is convertible into Common Stock of the Company at the holder's option at any time from and after the earlier of October 31, 2020 or the occurrence of certain events of default as set forth in the Series E Certificate of Designation. Each share of Series E Preferred Stock is initially convertible into 561 shares of the Company's common stock, which reflects a conversion price of $1.78.
( 4 )Holders of Series E Preferred Stock are also entitled to receive in-kind dividends (the "PIK Dividends") payable in shares of Series E-1 Preferred Stock of the Company (the "Series E-1 Preferred Stock") which have the same terms and preferences as Series E Preferred Stock except that they are subject to mandatory redemption by the Company under certain circumstances at par plus accrued and unpaid dividends and they will be cancelled if the Company completes the redemption of all shares of Series E Preferred Stock on or prior to October 31, 2020. The PIK Dividends accrue at a rate of 5% per annum, resulting in 650 shares of Series E-1 Preferred Stock being accrued in each full year, which would have a stated value of $650,000 and would be convertible into 391,566 shares of Common Stock at the $1.66 conversion price, subject to the forfeiture and cancelation provision described above.
( 5 )Richard L. Jackson, the sole manager and controlling owner of JIG LLC, may be deemed the indirect beneficial owner, but he disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
( 6 )Total does not include 144 shares of common stock personally owned by Richard L. Jackson, the chief executive officer of JIG LLC. These shares are directly and beneficially owned by Richard L. Jackson, one of the Reporting Persons; however, they are not owned by JIG LLC, the designated Reporting Person.

Remarks:
This form is filed by both JIG LLC and Richard L. Jackson, the sole manager and controlling owner of JIG LLC.

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