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Kessler Paul L. – ‘4’ for 5/3/23 re: Prairie Operating Co.

On:  Tuesday, 5/9/23, at 7:50pm ET   ·   For:  5/3/23   ·   Accession #:  1683168-23-3087   ·   File #:  0-33383

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/09/23  Kessler Paul L.                   4                      1:26K  Prairie Operating Co.             GlobalOne Filings Inc/FA

Statement of Changes in Beneficial Ownership of Securities by an Insider   —   Form 4   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 4           Statement of Changes in Beneficial Ownership of     HTML     25K 
                Securities by an Insider -- ownership.xml/4.7


        

This ‘4’ Document is an XML Data File that may be rendered in various formats:

  Form 4    –   Plain Text   –  SEC Website  –  EDGAR System  –    XML Data    –  <?xml?> File
 
 
Plain Text rendering:  Statement of Changes in Beneficial Ownership of Securities by an Insider
 
                                                                                                                                                                                
Ownership Document
 
Schema Version:  X0407
Document Type:  4
Period of Report:  5/3/23
Not Subject to Section 16:  0
Issuer:
Issuer CIK:  1162896
Issuer Name:  Prairie Operating Co.
Issuer Trading Symbol:  CRKR
Reporting Owner:
Reporting Owner ID:
Owner CIK:  1113835
Owner Name:  KESSLER PAUL L.
Reporting Owner Address:
Owner Street 1:  555 MARIN STREET, SUITE 140
Owner Street 2:
Owner City:  THOUSAND OAKS
Owner State:  CA
Owner ZIP Code:  91360
Owner State Description:
Reporting Owner Relationship:
Is Director?  Yes
Is Officer?  No
Is Ten Percent Owner?  Yes
Is Other?  No
Officer Title:
Other Text:
Aff 10b5 One:  0
Non-Derivative Table:
Non-Derivative Transaction:
Security Title:
Value:  Common stock, par value $0.0001 per share
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  C
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Shares:
Value:  9,095,011
Transaction Price Per Share:
Value:  0.175
Transaction Acquired-Disposed Code:
Value:  A
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  11,752,736
Footnote ID:  F2
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BC
Footnote ID:  F1
Footnote ID:  F2
Non-Derivative Transaction:
Security Title:
Value:  Common stock, par value $0.0001 per share
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  P
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Shares:
Value:  5,496,669
Transaction Price Per Share:
Value:  0.109
Transaction Acquired-Disposed Code:
Value:  A
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  17,249,405
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BIF
Footnote ID:  F1
Footnote ID:  F2
Non-Derivative Transaction:
Security Title:
Value:  Common stock, par value $0.0001 per share
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  A
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Shares:
Value:  1,821,429
Transaction Price Per Share:
Value:  0.175
Transaction Acquired-Disposed Code:
Value:  A
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  19,070,834
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BC
Footnote ID:  F1
Footnote ID:  F2
Non-Derivative Transaction:
Security Title:
Value:  Common stock, par value $0.0001 per share
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  C
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Shares:
Value:  9,413,863
Transaction Price Per Share:
Value:  0.175
Transaction Acquired-Disposed Code:
Value:  A
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  28,484,697
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BIF
Footnote ID:  F3
Non-Derivative Transaction:
Security Title:
Value:  Common stock, par value $0.0001 per share
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  A
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Shares:
Value:  42,857
Transaction Price Per Share:
Value:  0.175
Transaction Acquired-Disposed Code:
Value:  A
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  28,527,554
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Derivative Table:
Derivative Transaction:
Security Title:
Value:  Series A Preferred Stock
Conversion or Exercise Price:
Value:  0.175
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  C
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Shares:
Value:  124,236
Footnote ID:  F6
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  D
Exercise Date:
Footnote ID:  F6
Expiration Date:
Footnote ID:  F7
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  9,095,011
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  0
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BC
Derivative Transaction:
Security Title:
Value:  Convertible debenture
Conversion or Exercise Price:
Value:  0.175
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  C
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Total Value:
Value:  1,647,426
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  D
Exercise Date:
Value:  12/2/16
Expiration Date:
Value:  5/31/23
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  9,413,863
Post-Transaction Amounts:
Value Owned Following Transaction:
Value:  3,523,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BIF
Footnote ID:  F3
Derivative Transaction:
Security Title:
Value:  Convertible debenture
Conversion or Exercise Price:
Value:  0.175
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  C
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Total Value:
Value:  2,523,000
Transaction Price Per Share:
Value:  0
Footnote ID:  F3
Transaction Acquired-Disposed Code:
Value:  D
Exercise Date:
Value:  12/2/16
Expiration Date:
Value:  5/31/23
Underlying Security:
Underlying Security Title:
Value:  Series D Convertible preferred stock
Underlying Security Shares:
Value:  2,523
Post-Transaction Amounts:
Value Owned Following Transaction:
Value:  1,000,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BIF
Footnote ID:  F3
Derivative Transaction:
Security Title:
Value:  Convertible debenture
Conversion or Exercise Price:
Value:  0.175
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  C
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Total Value:
Value:  1,000,000
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  D
Exercise Date:
Value:  12/2/16
Expiration Date:
Value:  5/31/23
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  5,714,286
Post-Transaction Amounts:
Value Owned Following Transaction:
Value:  0
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BIF
Footnote ID:  F3
Derivative Transaction:
Security Title:
Value:  Series D Convertible preferred stock
Conversion or Exercise Price:
Value:  0.175
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  C
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Shares:
Value:  2,523
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  A
Exercise Date:
Value:  5/3/23
Expiration Date:
Footnote ID:  F7
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  14,417,143
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  2,523
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BIF
Footnote ID:  F3
Derivative Transaction:
Security Title:
Value:  Convertible debenture
Conversion or Exercise Price:
Value:  0.175
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  C
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Total Value:
Value:  1,000,000
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  A
Exercise Date:
Value:  5/3/23
Expiration Date:
Value:  12/31/23
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  5,714,286
Post-Transaction Amounts:
Value Owned Following Transaction:
Value:  1,000,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BIF
Footnote ID:  F3
Derivative Holding:
Security Title:
Value:  Options
Footnote ID:  F4
Conversion or Exercise Price:
Value:  0.25
Exercise Date:
Value:  1/23/19
Expiration Date:
Value:  1/22/24
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  15,000
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  15,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Derivative Transaction:
Security Title:
Value:  Series D Convertible Preferred Stock
Conversion or Exercise Price:
Value:  0.175
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  P
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Shares:
Value:  1,250
Transaction Price Per Share:
Value:  1,000
Footnote ID:  F5
Transaction Acquired-Disposed Code:
Value:  A
Exercise Date:
Value:  5/3/23
Expiration Date:
Footnote ID:  F7
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  7,142,857
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  3,773
Footnote ID:  F5
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BIF
Derivative Transaction:
Security Title:
Value:  A Common Stock Purchase Warrant
Conversion or Exercise Price:
Value:  0.21
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  P
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Shares:
Value:  7,142,857
Footnote ID:  F5
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  A
Exercise Date:
Value:  5/3/23
Expiration Date:
Value:  5/3/28
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  7,142,857
Footnote ID:  F5
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  7,142,857
Footnote ID:  F6
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BIF
Derivative Transaction:
Security Title:
Value:  B Common Stock Purchase Warrant
Conversion or Exercise Price:
Value:  0.21
Transaction Date:
Value:  5/3/23
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  P
Equity Swap Involved?  No
Transaction Timeliness:
Transaction Amounts:
Transaction Shares:
Value:  7,142,857
Footnote ID:  F5
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  A
Exercise Date:
Value:  5/3/23
Expiration Date:
Value:  5/3/24
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  7,142,857
Footnote ID:  F5
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  7,142,857
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  Held by BIF
Footnotes:
Footnote - F1:  Shares held by Bristol Investment Fund, Ltd., a Cayman Islands exempted company ("BIF") (managed by Bristol Capital Advisors, LLC, a Delaware LLC), Bristol Capital, LLC, a Delaware LLC ("BC"), Paul Kessler IRA Rollover ("PK IRA"), and Bristol Capital Advisors Profit Sharing Plan ("BCA PSP"). Mr. Kessler has voting and dispositive power over the shares beneficially owned by these holders.
Footnote - F2:  The total includes: (i) 2,589,990 shares owned by BIF, (ii) 24,450 shares owned by BC, (iii) 3,935 shares owned by PK IRA, and (iv) 39,350 shares owned by BCA PSP. Numbers reflect the 1-for-20 reverse stock split effectuated by the Issuer on February 27, 2020. (the "Split").
Footnote - F3:  In Dec 2016, BIF purchased $2,500,000 convertible debenture ("Debenture") and warrant to purchase 16,666,667 shares of common stock ("Warrant"). In Dec 2019, conversion and exercise price adjusted to $0.125 and Warrant shares became 20,000,000. BIF transferred 6,000,000 Warrant shares to third party in Dec 2019 and retained 14,000,000 Warrant shares. Following Split and subsequent repricing, conversion and exercise price became $0.175, number of shares underlying Debenture became 14,285,714 and shares underlying Warrant became 10,000,000. In March 2022, BIF converted $3,150 of principal into 18,000 shares which were sold on 3/31/22. On May 3, 2023, Debenture was exchanged for (a) amended debenture of $1,000,000, (b) 9,413,863 shares of Common and (c) 2,523 shares of Series D Preferred (stated value of $1,000/sh and convertible into common at $0.175/sh).
Footnote - F4:  Stock options for 300,000 shares issued to Paul Kessler pursuant to stock award plans, with an exercise price of $0.25. Following the 1-for-20 reverse stock split, the stock options are for 15,000 shares.
Footnote - F5:  The Series D Preferred offering for shares of Series D Preferred Stock featured 100% warrant coverage for each of Series A warrants to purchase shares of Common Stock and Series B warrants to purchase shares of Common Stock.
Footnote - F6:  124,236 shares of Series A Preferred Stock held by Paul Kessler, includes $349,267 of accrued but unpaid dividends converted into shares of Common Stock at $0.175 per share. The shares of Series A Preferred Stock held by Mr. Kessler were issued to BC upon conversion.
Footnote - F7:  Such shares of preferred stock have no expiration date.
Owner Signature:
Signature Name:  /s/ Paul L. Kessler
Signature Date:  5/9/23


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