FORM 3 OMB APPROVAL
OMB Number 3235-0104
Expires September 30, 1998
Estimated average burden
hours per response .....0.5
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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)
- --------------------------------------------
1. Name and Address of Reporting Person 2. Date of Event-
Requiring Statement
Baron Mark (Month/Day/Year)
- -------------------------------------------- 2/23/99
(Last) (First) (Middle)
2327 Fair Oak Court
- --------------------------------------------
(Street) 3. IRS or Social Security
Number of Reporting
Escondido, California 92026 Person (Voluntary)
- --------------------------------------------
(City) (State) (Zip)
4. Issuer Name and Ticker or Trading Symbol
U.S. Laboratories Inc. (USLB)
5. Relationship of Reporting Person 6. If Amendment, Date of
to Issuer Original
(Check all applicable) (Month/Day/Year)
|X|Director [ ]10% Owner
[X]Officer (give [ ]Other (specify
title below) below)
Executive Vice President
7. Individual or Joint/Group Filing
(Check Applicable Line)
|X| Form filed by One Reporting Person
___ Form filed by More than One Reporting
Person
<TABLE>
<CAPTION>
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount of 3. Ownership 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Securities Form: Direct (Instr. 5)
Beneficially (D) or
owned Indirect
(Instr. 4) (I) (Instr. 5)
<S> <C> <C> <C>
Common Stock 33,652 D
</TABLE>
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
5(b)(v).
<PAGE>
FORM 3 (continued)
<TABLE>
<CAPTION>
TABLE II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
- --------------------------------- ----------------- ----------------------------------- ----------- ------------ -------------------
1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of Securities 4. Conver- 5. Owner- 6. Nature of
(Instr. 4) cisable and Underlying sion or ship Indirect
Expiration Derivative Security Exercise Form of Beneficial
Date (Instr. 4) Price Deri- Ownership
(Month/Day/Year) of vative (Instr. 5)
Deri- Security:
vative Direct
Security (D) or
Indirect
(I)(Instr.
5)
- --------------------------------- ----------------- ----------------------------------- ----------- ------------ -------------------
Amount
Date Expira- or
Exer- tion Title Number
cisable Date of
Shares
- --------------------------------- -------- -------- ------------------------ -------- ----------- ------------ -----------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Options 6/1/98* 11/10/03 Common Stock 16,666 $6.00 D
- --------------------------------- -------- -------- ------------------------ -------- ----------- ------------ -----------------
Incentive Stock Options 6/1/99* 11/10/03 Common Stock 13,334 $6.00 D
- --------------------------------- -------- -------- ------------------------ -------- ----------- ------------ -----------------
Warrant ** *** Common Stock 10,000 $5.00 D
- --------------------------------- -------- -------- ------------------------ -------- ----------- ------------ -----------------
- --------------------------------- -------- -------- ------------------------ -------- ----------- ------------ -----------------
- --------------------------------- -------- -------- ------------------------ -------- ----------- ------------ -----------------
Explanation of Responses:
*If Mr. Baron's employment with the Company or its Subsidiaries changes from
full-time status or is interrupted by a leave of absence, the Board of Directors
may delay vesting for such period as it deems reasonably appropriate.
** earlier of (i) date on which closing price of a share of Common Stock as
reported on the NASDAQ Small-Cap Market is greater than $10.00; or (ii) date on
which audited financials of Company for fiscal year ended 12/31/98 or any fiscal
year thereafter reflect that the Company's earnings per share of Common Stock
are at least twice the award of the "base period earning" of $841,041.
*** earlier of (i)30 days after Holder's termination for any reason other than
death, disability or cause; (ii) 90 days after Holder's termination of
employment due to death or disability; (iii) Holder's termination of employment
for cause; or (iv) 11/01/01.
</TABLE>
/S/ Mark Baron 2/23/99
** 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 provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
