| FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 10/19/2010 |
3. Issuer Name and Ticker or Trading Symbol
YOUBLAST GLOBAL, INC. [ YBLT.OB ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
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| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Stock, Par Value $0.003 | 666,668 | D | |
| Common Stock, Par Value $0.003 | 1,333,332 | D(1) | |
| Common Stock, Par Value $0.003 | 3,000,000 | D(2) | |
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Explanation of Responses: |
| 1. Pursuant to the Executive Employment Agreement dated as of October 19, 2010 and effective as of July 1, 2010 by and between YouBlast Global, Inc. and Jeffrey D. Forster (the "Employment Agreement"), these shares of Common Stock vest equally per month until June 1, 2011 and are subject to forfeiture to YouBlast Global, Inc. in the event that the employment agreement is terminated for cause or the agreement is terminated due to death or disability. |
| 2. These shares are only issued to Mr. Forster in the event that YouBlast Global, Inc. is able to meet the two milestones described in the Employment Agreement by December 31, 2011 regardless of whether Mr. Forster is employed at such time if he is terminated without cause. If YouBlast Global, Inc. satisfies one milestone, Mr. Forster will receive 500,000 shares and if YouBlast Global, Inc. satisfies both milestones, Mr. Forster will receive 1,000,000 shares. |
| /s/ Jeffrey D. Forster | 10/19/2010 | |
| ** Signature of Reporting Person | Date | |
| 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 5 (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. | ||