Form 4 Jennings Kenneth W.

4 - Statement of changes in beneficial ownership of securities

Published: 2015-12-09 12:46:42
Submitted: 2015-12-09
Period Ending In: 2015-11-24
form4.html FORM 4


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SEC FORM 4

SEC Form 4
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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OMB Number: 3235-0287
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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*
Jennings Kenneth W.

(Last) (First) (Middle)
2233 ARGENTIA ROAD
SUITE 306

(Street)
MISSISSAUGA A6 L5N 2X7

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Skkynet Cloud Systems, Inc. [ SKKY ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
11/24/2015
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)
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 (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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options $0.001 11/24/2015 J(1) 31,000 11/24/2015 11/24/2020 Common Stock 31,000 $32,500 88,500 D
Explanation of Responses:
1. On November 24, 2015, Mr. Jennings entered into a Settlement and Release Agreement with the Company whereby Mr. Jennings agreed to forgive $32,500 in accrued and unpaid salary in exchange for 31,000 options.
/s/ Kenneth W. Jennings 12/09/2015
** 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 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.
1
form4.xml FORM 4
Schema Version:
X0306
Document Type:
4
Period Of Report:
2015-11-24-07:00
Not Subject To Section16:
false

Issuer

Issuer Cik
0001546853
Issuer Name
Skkynet Cloud Systems, Inc.
Issuer Trading Symbol
SKKY

Reporting Owner

Reporting Owner Id

Rpt Owner Cik
0001598309
Rpt Owner Name
Jennings Kenneth W.

Reporting Owner Address

Rpt Owner Street1
2233 ARGENTIA ROAD
Rpt Owner Street2
SUITE 306
Rpt Owner City
MISSISSAUGA
Rpt Owner State
A6
Rpt Owner Zip Code
L5N 2X7
Rpt Owner State Description
ONTARIO, CANADA

Reporting Owner Relationship

Is Director
true
Is Officer
false
Is Ten Percent Owner
false
Is Other
false

Derivative Transaction

Security Title
Options
Conversion Or Exercise Price
0.001
Transaction Date
2015-11-24-07:00

Transaction Coding

Transaction Form Type
4
Transaction Code
J
Equity Swap Involved
false
@attributes Id
F1

Transaction Amounts

Transaction Shares
31000
Transaction Price Per Share
32500
Transaction Acquired Disposed Code
A
Exercise Date
2015-11-24-07:00
Expiration Date
2020-11-24-07:00

Underlying Security

Underlying Security Title
Common Stock
Underlying Security Shares
31000
Shares Owned Following Transaction
88500
Direct Or Indirect Ownership
D
Footnotes Footnote
On November 24, 2015, Mr. Jennings entered into a Settlement and Release Agreement with the Company whereby Mr. Jennings agreed to forgive $32,500 in accrued and unpaid salary in exchange for 31,000 options.

Owner Signature

Signature Name
/s/ Kenneth W. Jennings
Signature Date
2015-12-09-07:00
Additional Files
FileSequenceDescriptionTypeSize
0001477932-15-007549.txt   Complete submission text file   5404
$SKKY

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