FlexShopper, Inc. — Director's Dealing 2018

Oct 18, 2018

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: FlexShopper, Inc. (FPAY)
CIK: 0001397047
Period of Report: 2018-09-28

Reporting Person: Dvorkin Howard (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	734694	Indirect
Common Stock	1507395	Indirect

Footnotes

F1: Beta Investment Group, Inc., a Florida corporation ("Beta"), is the manager of PITA Holdings LLC, a Florida limited liability company ("PITA"). Mr. Dvorkin is President of Beta and in such position has the right to direct the vote and disposition of securities owned by PITA. Mr. Dvorkin disclaims beneficial ownership of the shares of common stock of FlexShopper, Inc. held of record by PITA except to the extent of his pecuniary interest therein.

F2: Excludes 753,697 shares of FlexShopper, Inc.'s common stock which are issuable upon the exercise of a common stock warrant held of record by NRNS Capital Holdings, LLC, a Florida limited liability company ("NRNS"). Under the terms of the warrant, the holder may not exercise the warrant to the extent such exercise would cause the holder, together with its affiliates, to beneficially own a number of shares of common stock which would exceed 4.99% of FlexShopper, Inc.'s then outstanding shares of common stock following such exercise. This limitation may be increased to 9.99% at the holder's option upon 61 days notice to FlexShopper, Inc. Mr. Dvorkin is the manager of NRNS and in such position has the right to direct the vote and disposition of securities owned by NRNS. Mr. Dvorkin disclaims beneficial ownership of the securities of FlexShopper, Inc. held of record by NRNS except to the extent of his pecuniary interest therein.