Eos Petro, Inc. - 4 filing on 2013-05-21

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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

1. Name and Address of Reporting Person^*

Mitola John P

(Last)

(First)

(Middle)

1750 S. UNION AVE

(Street)

CHICAGO

60616

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Cellteck Inc. [ EOPT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Corporate Secretary

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2013

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock⁽⁶⁾	05/20/2013		C		50,000	A	⁽¹⁾⁽²⁾	50,000	I	By Quantum Advisors, LLC
Common Stock⁽⁶⁾	05/20/2013		C		50,000	A	⁽¹⁾⁽²⁾	100,000	I	By Quantum Advisors, LLC

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Series B convertible stock⁽⁴⁾	⁽⁴⁾	05/20/2013		C			50,000	⁽⁴⁾	⁽⁴⁾	Common Stock	50,000	⁽⁴⁾	0	I	By Quantum Advisors, LLC
Series B convertible stock⁽⁴⁾	⁽⁴⁾							⁽⁴⁾	⁽⁴⁾	Common Stock	50,000		0	I	By Quantum Advisors, LLC
Options to acquire Series B convertible preferred stock⁽³⁾	⁽¹⁾⁽²⁾							12/31/2012	⁽¹⁾⁽²⁾	Common Stock	50,000		0	I	By Quantum Advisors, LLC
Options to acquire Series B convertible preferred stock⁽⁵⁾	⁽¹⁾⁽²⁾	05/20/2013		C			100,000	⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Common Stock	100,000	⁽²⁾	0	I	By Quantum Advisors, LLC
Options to acquire common stock⁽⁶⁾	⁽¹⁾⁽²⁾	05/20/2013		C		100,000		⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Common Stock	100,000	⁽²⁾	100,000	I	By Quantum Advisors, LLC
Options to acquire Series B convertible preferred stock⁽⁵⁾	⁽¹⁾⁽²⁾							⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Common Stock	50,000		0	I	By Quantum Advisors, LLC
Series B convertible preferred stock⁽⁷⁾	⁽⁷⁾	05/20/2013		C			50,000	⁽⁷⁾	⁽⁷⁾	Common Stock	50,000	⁽⁷⁾	0	I	By Quantum Advisors, LLC
Series B convertible preferred stock⁽⁷⁾	⁽⁷⁾							⁽⁷⁾	⁽⁷⁾	Common Stock	50,000		0	I	By Quantum Advisors, LLC
Options to purchase common stock⁽⁵⁾⁽⁶⁾	$2.5	05/20/2013		C		25,000		05/01/2012	05/01/2012	Common Stock	25,000	⁽²⁾	25,000	D
Options to purchase Series B convertible preferred stock⁽⁸⁾	$2.5	05/20/2013		C			25,000	05/01/2012	05/01/2012	Common Stock	25,000	⁽²⁾	0	D

Explanation of Responses:

1. On July 1, 2012, Quantum Advisors, LLC ("Quantum"), of which Mr. Mitola is the managing member, entered into a Services Agreement with Eos Petro Inc.'s ("Eos") wholly owned subsidiary Eos Global Petro, Inc. ("Eos Global Petro") in order to provide consulting services to Eos Global Petro, pursuant to which Quantum was granted options to acquire 200,000 shares of common stock of Eos Global Petro. Such options were converted into options to acquire 200,000 shares of Series B convertible preferred stock of Eos in connection with the merger of Eos Global Petro and Eos.

2. The options detailed in footnote 1 did not have an exercise price or expiration date. Instead, 50,000 options were to vest automatically and convert into shares of Series B convertible preferred stock on each of the following dates: July 1, 2012; December 31, 2012; July 1, 2013; and December 31, 2013, provided that the Services Agreement was still in effect as of each such date. If the Services Agreement is terminated, any options that have not yet vested by that date will expire.

3. Consisted of options to acquire 50,000 shares of Series B convertible preferred stock which automatically vested and converted on December 31, 2012 pursuant to the Services Agreement detailed in footnote 1 above.

4. Consisted of 50,000 shares of Series B convertible preferred stock issued upon the automatic conversion of the options reported in footnote 1 above. Series B Convertible preferred stock was automatically convertible upon the filing of a certain amendment to Eos' Articles of Incorporation. Series B convertible preferrred stock had no exercise date, exercise price or expiration date.

5. Consisted of options to acquire 100,000 shares of Series B convertible preferred stock pursuant to the Services Agreement detailed above in footnote 1. Options to acquire 50,000 shares will automatically vest and convert on both July 1, 2013 and December 31, 2013, provided that the Services Agreement is still in effect as of each such date.

6. On May 20, 2013, Eos filed an amendment to its Articles of Incorporation which effectuated an 800-for-1 reverse stock split of all outstanding shares of its common stock. Upon the filing of such amendment to its Articles of Incorporation, a provision governing the automatic conversion of each share of Series B preferred stock into common stock was triggered, and each share of Series B preferred stock automatically converted on a 1:1 ratio into a share of common stock of Eos. Now that the provision governing the automatic conversion of all shares of Series B preferred stock of Eos has been triggered, any outstanding options which previously were to purchase shares of Series B preferred stock, including the options referenced above, have converted into options to purchase an equal number of shares of common stock. The exercise prices, vesting conditions and expiration dates remain unchanged for all such converted options.

7. Consisted of 50,000 shares of Series B convertible preferred stock issued upon the automatic conversion of options to acquire 50,000 shares of Series B convertible preferred stock on July 1, 2012 pursuant to the Services Agreement detailed in footnote 1 above. Series B convertible preferred stock was automatically convertible upon the filing of a certain amendment to Cellteck's Articles of Incorporation. Series B convertible preferred stock had no exercise date, exercise price or expiration date.

8. The options to purchase up to 25,000 shares of Series B convertible preferred stock were originally granted to Mr. Mitola on May 1, 2012 as options to purchase up to 25,000 shares of common stock of Eos Global Petro for Mr. Mitola's services as a non-employee director of Eos Global Petro. Such options were converted into options to purchase up to 25,000 shares of Series B convertible preferred stock of Eos on October 12, 2012 in connection with the merger of Eos Global Petro and Eos. The options vested immediately on the grant date, were set to expire on May 1, 2015, and had an exercise price of $2.50.

	/s/ John Mitola	05/21/2013
	** Signature of Reporting Person	Date
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