McEwen Amends KonaTel Stake Filing

TL;DR

McEwen updated his KonaTel filing, watch for ownership changes.

AI Summary

David S. McEwen filed an amendment (Amendment No. 7) to Schedule 13D on June 18, 2024, regarding KonaTel, Inc. The filing indicates a change in the beneficial ownership of the company's common stock. The specific details of the change in ownership percentage or number of shares are not fully detailed in the provided text, but it is an update to a previous filing.

Why It Matters

This filing signals a potential shift in control or significant shareholder interest in KonaTel, Inc., which could impact its stock price and corporate strategy.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant shareholder activity, which can lead to volatility and strategic shifts in the company.

Key Players & Entities

• KonaTel, Inc. (company) — Subject Company
• David S. McEwen (person) — Filing Person
• Leonard W. Burningham, Esq. (person) — Person Authorized to Receive Notices
• DALA PETROLEUM CORP. (company) — Former Company Name
• WESTCOTT PRODUCTS CORP (company) — Former Company Name

FAQ

Key Financial Figures

• $0.001 — ule 13D ") relates is the Common Stock, $0.001 per share par value (the " Common Stock
• $41,250 — res of Common Stock as outlined herein ($41,250 at $0.6275 equals 65,738 shares conveye
• $0.6275 — on Stock as outlined herein ($41,250 at $0.6275 equals 65,738 shares conveyed to the Co
• $0.10 — he Company's Common Stock at a price of $0.10 per share, in a private transaction. (

Filing Documents

• mcewenschedule13da7.htm (SC 13D/A) — 39KB
• 0001010412-24-000006.txt ( ) — 40KB

Security and Issuer

Item 1. Security and Issuer The class of equity securities to which this statement on Schedule 13DA-7 (hereinafter, this " Schedule 13D ") relates is the Common Stock, $0.001 per share par value (the " Common Stock "), of KonaTel, Inc., a Delaware corporation (the " Company "), formerly known as Dala Petroleum Corp, with its principal executive offices at 500 N. Central Expressway, Suite 202, Plano, Texas 75074.

Identity and Background

Item 2. Identity and Background The following information is presented in response to this Item: (a) This Schedule 13D is filed by D. Sean McEwen. (b) The principal (c) The principal business of Mr. McEwen is the Chairman and CEO of the Company. See Items 3 and 4 below. (d) During the last five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, the Reporting Person has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction which resulted in a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Mr. McEwen is a citizen of the United States.

Source and Amount of Funds or

Item 3. Source and Amount of Funds or Other Consideration Effective December 18, 2017, the Company completed an Agreement and Plan of Merger whereby a newly formed wholly-owned subsidiary merged with and into KonaTel, Inc., a Nevada corporation (respectively, " KonaTel Nevada " and the " KonaTel Nevada Merger "), and under which KonaTel Nevada was the surviving corporation and became a wholly-owned subsidiary of the Company. Mr. McEwen was the sole shareholder of KonaTel Nevada and received merger consideration of 13,500,000 shares of Common Stock and 1,500,000 non-compensatory stock options to purchase Common Stock of the Company under the KonaTel Nevada Merger. Mr. Mark Savage, as the then sole member of the Board of Directors of the Company, adopted Board resolutions of the Company on November 15, 2017, resolving that all securities issued under the KonaTel Merger would be exempt from the provisions of Rule 16b-3(d)(1) adopted pursuant to Section 16(b) of the Securities Exchange Act of 1934, as amended, which Board resolutions were adopted prior to the closing of the KonaTel Nevada Merger. For additional information about the KonaTel Nevada Merger, see the Company's 8-KA-1 Current Report dated November 15, 2017, and filed with the SEC on December 20, 2017; and the Company's 8-KA-2 Current Report dated November 15, 2017, and filed with the SEC on April 17, 2018. Copies of these Current Reports are incorporated herein by reference in Item 7 hereof and may be accessed by Hyperlink. On June 17, 2024, Mr. McEwen exercised his sixth tranche of 187,500 non-compensatory stock options to purchase 187,500 shares of Common Stock as outlined herein ($41,250 at $0.6275 equals 65,738 shares conveyed to the Company for payment in a transaction exempt from the provisions of the Act under Rule 16b-3(e) promulgated thereunder).

Purpose of Transaction

Item 4. Purpose of Transaction See Item 3. 3

Interest in Securities of the

Item 5. Interest in Securities of the Issuer The following information is presented in response to this Item: (a) See the footnotes to Sections 8, 9, 11 and 13 above. (b) Mr. McEwen has the sole power to vote 16,437,500 shares, and the sole power to dispose of 16,437,500 shares of Common Stock of the Company beneficially owned by him. (c) On October 20, 2020, Mr. McEwen purchased 2,000,000 shares of the Company's Common Stock at a price of $0.10 per share, in a private transaction. (d) Other than the transactions described herein, the Reporting Person has not effected any transaction in the Common Stock of the Company during the past 60 days. Mr. McEwen received 1,500,000 non-compensatory stock options in the KonaTel Nevada Merger. These stock options vest (or have vested and been exercised as indicated below) on the following dates and are exercisable in the following tranches, and do not expire for a period of five years from the date of vesting: 187,500 shares exercisable March 18, 2018, June 18, 2018, September 18, 2018, December 18, 2018, March 18, 2019, June 18, 2019, September 18, 2019, and December 18, 2019. Mr. McEwen has exercised his first, second, third, fourth, fifth and sixth tranches of 187,500 non-compensatory stock options to purchase 187,500 shares of Common Stock as outlined herein. (e) Except as specifically set forth in this Item 5, to the knowledge of the Reporting Person, no person other than the Reporting Person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the shares of Common Stock of the Company that are beneficially owned directly by the Reporting Person. (f) Not applicable.

Contracts, Arrangements, Understandings

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer To the knowledge of the Reporting Person, there are no contracts, arrangements, understandings or relationships between any person with respect to any securities of the Company, including but not limited to transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangement, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits. Incorporated herein by reference: 8-KA-1 Current Report dated November 15, 2017, and filed with the SEC on December 20, 2017. 8-KA-2 Current Report dated November 15, 2017, and filed with the SEC on April 17, 2018. ( This space intentionally left blank ) 4

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of the undersigned's knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: June 18, 2024 D. Sean McEwen By: /s/D. Sean McEwen D. Sean McEwen Chairman and CEO 5

View Full Filing

View this SC 13D/A filing on SEC EDGAR