SEC Filing | Acura Pharmaceuticals, Inc.

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FORM 4 FOR 01-06-2003 REPORTING PERIOD: REICHER

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 4

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 30(h) of the Investment Company Act of 1940

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

Name and Address of Reporting
Person*

Issuer Name and Ticker or Trading
Symbol

I.R.S. Identification Number of Reporting
Person, if an entity (Voluntary)

Reicher, Michael K.

(Last) (First) (Middle)

Halsey Drug Co., Inc. Symbol: HDGC

C/o Halsey Drug Co., Inc. 695 N. Perryville Rd. Bldg. 2

(Street)

Statement for Month/Day/Year

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

1/03

Relationship of Reporting Person(s)
to Issuer (Check All Applicable)

Individual or Joint/Group Filing
(Check Applicable Line)

Rockford, Illinois 61107

(City) (State) (Zip)

Director

10% Owner

Form Filed by One Reporting Person

Officer (give title below)

Form Filed by More than One Reporting Person

Other (specify below)

Chairman & Chief Executive Officer

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).

Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

Title of Security
(Instr. 3)

Transaction
Date
(Month/Day/Year)

2A.

Deemed Execution
Date, if any
(Month/Day/Year)

Transaction
Code
(Instr. 8)

Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5)

Amount of Sec-
urities Beneficially
Owned Following
Reported Trans-
action(s)
(Instr. 3 and 4)

Ownership
Form:
Direct (D) or
Indirect (I)
(Instr. 4)

Nature of
Indirect
Beneficial
Ownership
(Instr. 4)

Code

Amount

(A)
or
(D)

Price

Common Stock ($ .01 par value)

12/20/02

J(9)

26,240

$1.01

Common Stock ($ .01 par value)

12/20/02

J(9)

22,359

$1.01

Common Stock ($ .01 par value)

12/20/02

J(9)

8,303

$1.01

Common Stock ($ .01 par value)

12/20/02

J(9)

7,074

$1.01

72,713

Page 2

Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

Title of Derivative
Security
(Instr. 3)

Conversion or Exercise
Price of Derivative
Security

Transaction
Date
(Month/Day/Year)

3A.

Deemed Execution
Date, if any
(Month/Day/Year)

Transaction
Code
(Instr. 8)

Number of Derivative Securities
Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)

Code

(A)

(D)

5% Convertible Senior Secured Debentures

$.58(8)

3/10/98

(1)

5% Convertible Senior Secured Debentures

$.58(8)

6/12/98

(2)

Non-qualified Stock Options

$2.375

2/19/98

5% Convertible Senior Secured Debentures

$.47(8)

4/1/99

(4)

Non-qualified Stock Options

$1.125

4/12/99

(5)

5% Convertible Senior Secured Debentures

$1.06(8)

7/1/99

(4)

5% Convertible Senior Secured Debentures

$1.01(8)

10/1/99

(4)

Non-qualified Stock Options

$1.875

2/17/00

(5)

5% Convertible Senior Secured Debentures

$.75(8)

4/1/00

(4)

5% Convertible Senior Secured Debentures

$.58(8)

3/10/98

(6)

5% Convertible Senior Secured Debentures

$.58(8)

6/12/98

(6)

Non-qualified Stock Options

$1.1125

6/29/00

(5)

5% Convertible Senior Secured Debentures

$.49(8)

7/1/00

(4)

5% Convertible Senior Secured Debentures

$.58(8)

6/12/98

(7)

5% Convertible Senior Secured Debentures

$.58(8)

6/12/98

(7)

5% Convertible Senior Secured Debentures

$.58(8)

6/12/98

(7)

5% Convertible Senior Secured Debentures

$.40(8)

10/1/00

(4)

5% Convertible Senior Secured Debentures

$.58(8)

6/12/98

(7)

5% Convertible Senior Secured Debentures

$.58(8)

6/12/98

(7)

5% Convertible Senior Secured Debentures

$.58(8)

6/12/98

(7)

5% Convertible Senior Secured Debentures

$.27(8)

01/01/01

(4)

5% Convertible Senior Secured Debentures

$.45(8)

04//01/01

(4)

5% Convertible Senior Secured Debentures

$.97(8)

07//01/01

(4)

5% Convertible Senior Secured Debentures

$.97(8)

10//01/01

(4)

5% Convertible Senior Secured Debentures

$.81(8)

01/01/02

(4)

5% Convertible Senior Secured Debentures

$.88(8)

04/01/02

(4)

5% Convertible Senior Secured Debentures

$.75(8)

07/01/02

(4)

5% Convertible Senior Secured Debentures

$.76(8)

10/01/02

(4)

5% Convertible Senior Secured Debentures

$1.02

1/01/03

(4)

Warrants

$.57

12/20/02

J(9)

Warrants

$.92

12/20/02

J(9)

Warrants

$.57

12/20/02

J(9)

Warrants

$.92

12/20/02

J(9)

Page 3

Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned — Continued
(e.g., puts, calls, warrants, options, convertible securities)

Date Exercisable and
Expiration Date
(Month/Day/Year)

Title and Amount
of Underlying Securities
(Instr. 3 and 4)

Price of Derivative
Security
(Instr. 5)

Number of Derivative Securities
Beneficially Owned Following
Reported Transaction(s)
(Instr. 4)

10.

Ownership Form of
Derivative Security:
Direct (D) or
Indirect (I)
(Instr. 4)

11.

Nature of
Indirect
Beneficial
Ownership
(Instr. 4)

Date
Exercisable

Expiration
Date

Title

Amount or
Number of
Shares

3/10/98

3/31/06

Common Stock

517,243(8)

6/12/98

3/31/06

Common Stock

124,337(8)

(3)

2/19/08

Common Stock

1,000,000

4/1/99

3/31/06

Common Stock

8,566(8)

4/12/00

4/12/09

Common Stock

100,000

7/1/99

3/31/06

Common Stock

3,846(8)

10/1/99

3/31/06

Common Stock

4,086(8)

2/17/01

2/17/10

Common Stock

125,000

4/1/00

3/31/06

Common Stock

3,307(8)

3/10/98

3/31/06

Common Stock

(215,517)(8)

6/12/98

3/31/06

Common Stock

(105,271)(8)

6/29/01

6/29/10

Common Stock

200,000

7/01/00

3/31/06

Common Stock

4,737(8)

6/12/98

3/31/06

Common Stock

(8,621)(8)

6/12/98

3/31/06

Common Stock

(8,621)(8)

6/12/98

3/31/06

Common Stock

(8,621)(8)

10/01/00

3/31/06

Common Stock

5,877(8)

6/12/98

3/31/06

Common Stock

(8,621)(8)

6/12/98

3/31/06

Common Stock

(8,621)(8)

6/12/98

3/31/06

Common Stock

(8,621)(8)

01/01/01

3/31/06

Common Stock

8,118(8)

04/01/01

3/31/06

Common Stock

4,933(8)

07/01/01

3/31/06

Common Stock

2,316(8)

10/01/01

3/31/06

Common Stock

2,347(8)

01/01/02

3/31/06

Common Stock

2,845(8)

04/01/02

3/31/06

Common Stock

2,651(8)

07/01/02

3/31/06

Common Stock

3,149(8)

10/01/02

3/31/06

Common Stock

3,148(8)

1/01/03

3/31/06

Common Stock

2,375

1,756,367

3/10/98

3/15/05

Common Stock

37,861

3/10/98

3/15/05

Common Stock

37,019

6/12/98

3/15/05

Common Stock

11,981

6/12/98

3/15/05

Common Stock

11,713

Explanation of Responses:

(1) Purchased in connection with a private offering on March 10, 1998 consisting of a Convertible Debenture convertible at any time.

(2) Acquired pursuant to an option exercise in June 1998, consisting of a Convertible Debenture, convertible at any time.

(3) Options vest quarterly, with 62,500 options vesting every quarter effective May 1, 1998.

(4) Certain quarterly interest payments are paid in the form of convertible debentures.

(5) Options vest 25% annually.

(6) Transferred without consideration of as part of a settlement agreement contained within a QDRO.

(7) Transferred as gift without consideration.

(8) Adjusted to reflect results of an anti-dilution calculation contained in the instrument.

(9) Pursuant to a recapitalization exempt under Rule 16b-7, the warrants were exchanged for shares of common stock

/s/ Michael K. Reicher		January 6, 2003
**Signature of Reporting Person		Date

**		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.

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