Sec Form 4/A Filing - Savage Mark S @ KonaTel, Inc. - 2018-04-24

Insider filing report for Changes in Beneficial Ownership
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FORM 4/A
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
Savage Mark S
2. Issuer Name and Ticker or Trading Symbol
KonaTel, Inc. [ KTEL]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
13911 RIDGEDALE DRIVE, SUITE 375
3. Date of Earliest Transaction (MM/DD/YY)
04/24/2018
(Street)
MINNETONKA, MN55305
4. If Amendment, Date Original Filed (MM/DD/YY)
12/18/2017
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ 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 04/24/2018 J( 1 ) 12,100,000 D $ 0 0 I M2 Equity Partners LLC
Common Stock 04/24/2018 J( 2 ) 3,950,000 A $ 0 3,950,000 D
Common Stock 06/08/2018 P 50,000 A $ 0.2 4,000,000 D
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
Options $ 0.22 03/18/2018 03/18/2023 Common Stock 31,250 31,250 D
Options $ 0.22 06/18/2018 06/18/2023 Common Stock 31,250 62,500 D
Options $ 0.22 09/18/2018 09/18/2023 Common Stock 31,250 93,750 D
Options $ 0.22 12/18/2018 12/18/2023 Common Stock 31,250 125,000 D
Options $ 0.22 03/18/2019 03/18/2024 Common Stock 31,250 156,250 D
Options $ 0.22 06/18/2019 06/18/2024 Common Stock 31,250 187,500 D
Options $ 0.22 09/18/2019 09/18/2024 Common Stock 31,250 218,750 D
Options $ 0.22 12/18/2019 12/18/2024 Common Stock 31,250 250,000 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Savage Mark S
13911 RIDGEDALE DRIVE, SUITE 375
MINNETONKA, MN55305
X X
Signatures
/s/ Mark Savage 06/21/2018
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On April 24, 2018, the 12,100,000 shares of our common stock that were acquired by M2 Equity Partners, LLC, under a Common Stock Purchase Agreement were distributed to its members, pro rata, in accordance with their respective membership interests. This action was approved by the requisite members to M2 Equity Partners, LLC, on April 9, 2018. All of these transferred shares remain subject to the Shareholder Voting Agreement and the Lock-Up/Leak-Out Agreement, see Exhibit 9 to the Amended Current Report on Form 8-K/A dated November 15, 2017, and filed with the Securities and Exchange Commission on December 20, 2017.
( 2 )Number of shares Mr. Savage received in the M2 Equity Partners LLC distribution on April 24, 2018. See Footnote 1.

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