X0202 4 2006-01-13 1 0000003116 AKORN INC AKRN 0000900562 WANEY ARJUN C 46 LOWNDES SQUARE, FLAT NO. 16 LONDON X0 SW1WX UNITED KINGDOM 0 0 1 0 0001267369 WANEY JUDITH DIANE 46 LOWNDES SQUARE, FLAT NO. 16 LONDON X0 SW1WX UNITED KINGDOM 0 0 1 0 Common Stock 2006-01-13 4 C 0 3052128 0.75 A 3833728 D Common Stock 2006-01-13 4 C 0 407764 0.75 A 866264 I Argent Fund Management Ltd. Common Stock 628400 I First Winchester Investments Series A Preferred 0.75 2006-01-13 4 C 0 2289096 0.75 D 2011-10-31 Common Stock 3052128 0 D Series A Preferred 0.75 2006-01-13 4 C 0 305823 0.75 D 2011-10-31 Common Stock 407764 0 I Argent Fund Management Ltd. Pursuant to the issuer's Restated Articles of Incorporation, all outstanding shares of the issuer's Series A Preferred Stock immediately and automatically converted into shares of issuer's common stock effective January 13, 2006. Accordingly, all outstanding shares of Series A Preferred Stock held by the reporting person converted into 3,052,128 shares of common stock on January 13, 2006. Pursuant to the issuer's Restated Articles of Incorporation, all outstanding shares of the issuer's Series A Preferred Stock immediately and automatically converted into shares of issuer's common stock effective January 13, 2006. Accordingly, all outstanding shares of Series A Preferred Stock held by Argent Fund Management Ltd., of which the reporting person is a majority owner, converted into 407,764 shares of common stock on January 13, 2006. Pursuant to the issuer's Restated Articles of Incorporation, all outstanding shares of the issuer's Series A Preferred Stock immediately and automatically converted into shares of issuer's common stock effective January 13, 2006. Accordingly, all outstanding shares of Series A Preferred Stock held by the reporting person converted into 3,052,128 shares of common stock on January 13, 2006. Pursuant to the issuer's Restated Articles of Incorporation, all outstanding shares of the issuer's Series A Preferred Stock immediately and automatically converted into shares of issuer's common stock effective January 13, 2006. Accordingly, all outstanding shares of Series A Preferred Stock held by Argent Fund Management Ltd., of which the reporting person is a majority owner, converted into 407,764 shares of common stock on January 13, 2006. Immediately Mandatory redemption on this date. /s/ Arjun C. Waney 2006-01-17 /s/ Judith D. Waney 2006-01-17