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FORM 3 OMB APPROVAL
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OMB Number 3235-0104
Expires: December 31, 2001
Estimated average burden
hours per response .............0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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)
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1. Name and Address of Reporting Person*
Berggruen Nicolas
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(Last) (First) (Middle)
499 Park Avenue
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(Street)
New York NY 10022
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
10/10/00
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3. IRS Identification Number of Reporting Person, if an entity (Voluntary)
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4. Issuer Name and Ticket or Trading Symbol
OptiCare Health Systems, Inc. ("OPT")
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5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
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TABLE I - Non-Derivative Securities Beneficially Owned
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1. Title of Security | 2. Amount of Securities | 3. Ownership Form: | 4. Nature of Indirect Beneficial
(Instr. 4) | Beneficially Owned | Direct (D) or Indirect | Ownership (Instr. 5)
| (Instr. 4) | (I) (Instr. 5) |
<S> <C> <C> <C>
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Common Stock, par value | | |
$.001 per share | 154,026 | I(1) |
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</TABLE>
Reminder: Report on a seperate 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).
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 control number.
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<TABLE>
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FORM 3 (continued) Table II -- Derivative Securities Benefically Owned
(e.g., puts, calls, warrants, options, convertible securities)
<S> <C>
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date
| (Month/Day/Year)
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| Date Exercisable | Expiration Date
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| |
Common Stock Warrants (right to buy) | 11/10/00 | 10/01/05
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3. Title and Amount of Securities | 4. Conversion or Exercise | 5. Ownership Form of Derivative | 6. Nature of Indirect
Underlying Derivative Security | Price of Derivative | Security: Direct (D) or | Beneficial Ownership
(Instr. 4) | Security | Indirect (I) (Instr. 5) | (Instr. 5)
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| Amount or | | |
| Number of | | |
Title | Shares | | |
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| | | |
Common Stock, par value | | | |
$.001 per share | 2,250,000 | $1.00 | I(2) |
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Explanation of Responses:
(1) Nicolas Berggruen acts as the investment advisor to Alexander Enterprise
Holding Corp., a British Virgin Islands corporation ("Alexander"), which holds
154,026 shares of Common Stock of OptiCare Health Systems, Inc. (the "Company").
Nicolas Berggruen disclaims beneficial ownership of, and does not have a
pecuniary interest in, the shares of Common Stock of the Company held by
Alexander and this Report shall not be deemed an admission that Nicolas
Berggruen is a beneficial owner of such securities for purposes of Section 16 or
for any other purpose.
(2) Nicolas Berggruen acts as an investment advisor to Medici I Investment
Corp., a British Virgin Islands corporation ("Medici"), which holds warrants to
purchase 2,250,000 shares of Common Stock from the Company. Nicolas Berggruen
disclaims beneficial ownership of, and does not have a pecuniary interest in,
the shares of Common Stock held by Medici and this Report shall not be deemed an
admission that Nicolas Berggruen is a beneficial owner of such securities for
purposes of Section 16 or for any other purpose.
** 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 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.
/s/ Nicolas Berggruen 10/20/00
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Nicolas Berggruen Date
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