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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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*
Ingargiola Luisa

(Last) (First) (Middle)
150 RAINVILLE ROAD

(Street)
TARPON SPRINGS FL 34689

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MAGNEGAS CORP [ MNGA ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
CFO and Secretary
3. Date of Earliest Transaction (Month/Day/Year)
11/19/2012
4. If Amendment, Date of Original Filed (Month/Day/Year)
11/21/2012
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
Common Stock, par value $0.001 per share 11/19/2012 P 5,000 A $1.97 4,359,304 (1) D (2)
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
Explanation of Responses:
1. This includes 3,010,000 shares held by HyFuels, Inc., in which the Reporting Person owns 4% of the company; 901,000 shares held by Global Beta, LLC, in which the Reporting Person owns a 95% interest; 2,000 shares which the Reporting Person beneficially owns through related family members; and 446,304 shares held by the Reporting Person directly. The Reporting Person disclaims beneficial ownership of the shares held by each of HyFuels, Inc., Global Beta, LLC, and her family members, except to the extent of her pecuniary interest therein.
2. These shares were purchased by the Reporting Person on the open market for her own account.
Remarks:
Explanatory Note: This Amendment to the Form 4 is being filed to add the following note in the remarks: The transaction executed as reported herein resulted in a short swing profit under Section 16(b) of the Securities Exchange Act of 1934, as amended. As of the date hereof, the Reporting Person has made the Issuer aware of such profit and has made arrangements with the Issuer to disgorge such profit promptly. Upon receipt of this payment by the Issuer, the Reporting Person will have discharged in full any obligation that she has under Section 16(b) of the Exchange Act with respect to the transaction reported herein.
/s/ Luisa Ingargiola 12/04/2012
** 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).
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