FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
OMB APPROVAL
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OMB Number 3235-0287
Expires: September 30, 1998
Estimated average
burden hours per
response ........................0.5
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
|_| Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations may
continue. See Instruction 1(b).
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(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of 2. Issuer Name and Ticker
Reporting Person or Trading Symbol
SCHWARTZ NOEL U.S. LABORATORIES INC. (USLB)
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(Last) (First) (Middle) 3. IRS or Social Security
Number of Reporting
353 BEACH 143RD STREET Person (Voluntary)
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(Street)
NENPONSIT, NEW YORK 11694
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(City) (State) (Zip)
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4. Statement for 5. If Amendment, Date of Original
Month/Year (Month/Year)
3/99
6. Relationship of Reporting Person to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give _____ Other (specify
title below) below)
7. Individual or Joint/Group Filing (Check Applicable
Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
<PAGE>
<TABLE>
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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<CAPTION>
1. Title of 2. Trans- 3. Trans- 4. Securities 5. Amount of 6. Ownership 7. Nature of
Security action action Acquired (A) Securities Form: Indirect
(Instr. 3) Date Code or Disposed of (D) Beneficially Direct (D) Beneficial
(Month/ (Instr. 8) (Instr. 3, 4 and 5) Owned at End or Indirect Ownership
Day/ of Month (Instr. (I) (Instr. 4) (Instr. 4)
3 and 4)
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(A) or
Code V Amount (D) Price
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
UNITS* 2/23/99 P 1,000 A $6.00 1,000 D
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
SEC 1474 (7/96)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
<PAGE>
<CAPTION>
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1. Title of 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount
Derivative sion or action action Derivative cisable and of Underlying
Security Exercise Date Code Securities Expiration Date Securities
(Instr. 3) Price of Month/ (Instr. Acquired (Month/Day/ (Instr. 3 and 4)
Deriv- Day/ 8) (A) or Year)
ative Year) Disposed
Security of (D)
(Instr.
3, 4 and
5)
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Date Expiration Title Amount or
Exer- Date Number of
cisable Shares
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Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INCENTIVE STOCK $6.00 11/10/98** 11/10/03 Common 5,000
OPTIONS Stock
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WARRANTS $7.80 P 1,000 2/23/99 2/23/03 Common 1,000
Stock
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8. Price 9. Number 10. Owner- 11. Nature of
of of Deriv- ship Form In-direct
Deriv- ative Secu- of Derivative Beneficial
ative rities Bene- Security; Ownership
Secu- ficially Direct (Instr. 4)
rity Owned at (D) or
(Instr. End of Indirect (I)
5) Month (Instr. 4)
(Instr. 4)
<S> <C> <C> <C>
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5,000 D
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$6.00*** 1,000 D
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</TABLE>
Explanation of Responses:
* Units consist of one share of common stock and one warrant to purchase one
share of common stock.
** Provided Mr. Fuchs is serving as a Director of the Company or its
subsidiaries.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
/s/JAMES WAIT 4/30/99
See 18 U.S.C. 1001 and ** Signature of Reporting Person Date
15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient, see Instruction 6 for procedure.
EXHIBIT 99
POWER OF ATTORNEY
Know all by these presents, that the undersigned hereby constitutes and
appoints each of Dickerson Wright and James Wait, signing singly, the
undersigned's true and lawful attorney-in-fact to:
(1) execute for and on behalf of the undersigned, in the
undersigned's capacity as an officer, director and/or more than 5%
shareholder of U.S. Laboratories Inc. (the "Company"), any and all forms,
applications and other documents as may be necessary or advisable for the
undersigned to file under the Securities Exchange Act of 1934 and the
rules thereunder (the "Exchange Act"), including, without limitation,
Forms 3, 4 and 5 and Schedules 13D and 13G in accordance with Section
16(a) and Section 13(d), respectively, of the Exchange Act (collectively,
"Documents"); and
(2) do and perform any and all acts for and on behalf of the
undersigned which may be necessary or desirable to complete and execute
any such Documents and timely file such Documents with the United States
Securities and Exchange Commission and any stock exchange or similar
authority.
The undersigned hereby grants to each such attorney-in-fact full power
and authority to do and perform any and every act and thing whatsoever
requisite, necessary or proper to be done in the exercise of any of the rights
and powers herein granted, as fully to all intents and purposes as the
undersigned might or could do if personally present, with full power of
substitution or revocation, hereby ratifying and confirming all that such
attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall
lawfully do or cause to be done by virtue of this power of attorney and the
rights and powers herein granted. The undersigned acknowledges that the
foregoing attorneys-in-fact, in serving in such capacity at the request of the
undersigned, are not assuming, nor is the Company assuming, any of the
undersigned's responsibilities to comply with the Exchange Act.
This Power of Attorney shall remain in full force and effect until the
undersigned is no longer required to file Documents with respect to the
undersigned's holdings of and transactions in securities issued by the Company,
unless earlier revoked by the undersigned in a signed writing delivered to the
foregoing attorneys-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to
be executed as of this 30th day of April, 1999.
/S/ NOEL SCHWARTZ
Noel Schwartz
