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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ____)*
INDUSTRIAL SERVICES OF AMERICA, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
456314-10-3
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(CUSIP Number)
JANUARY 2, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed.
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filed out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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CUSIP NO. 456314-10-3
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
NEIL C. SULLIVAN
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.
(a) [ ]
(b) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
NUMBER OF 5. SOLE VOTING POWER: 150,000
SHARES
BENEFICIALLY 6. SHARED VOTING POWER: -0-
OWNED BY
EACH REPORTING 7. SOLE DISPOSITIVE POWER: 150,000
PERSON WITH
8. SHARED DISPOSITIVE POWER: -0-
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
150,000 SHARES
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.77%
12. TYPE OF REPORTING PERSON
IN
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Item 1(a) Name of Issuer: Industrial Services of America, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
7100 Grade Lane, P.O. Box 32428
Louisville, Kentucky 40232
Item 2(a) Name of Person Filing: Neil C. Sullivan
Item 2(b) Address of Principal Office: 1901 Avenue of the Stars, 20th floor
Los Angeles, CA 90067
Item 2(c) Citizenship: U.S.A.
Item 2(d) Title of Class of Securities: Common Stock
Item 2(e) CUSIP Number: 456314-10-3
Item 3 If this statement is filed pursuant to Rules 13d-1(b) or 13-2(b) or
(c): If this statement is filed pursuant to Rule 13d-1(c), check
this box. [X]
Item 4(a) Amount Beneficially Owned: 150,000 shares, all of which are shares
underlying currently exercisable options.
Item 4(b) Percent of Class: 7.77%, based on 1,929,600 shares outstanding as
reported in the issuer's Form 10-Q for the quarter ended March 31,
1998.
Item 4(c) Number of shares as to which reporting person has:
(i) sole power to vote or to direct the vote: 150,000
(ii) shared power to vote or to direct the vote: -0-
(iii) sole power to dispose or to direct the disposition of: 150,000
(iv) shared power to dispose or to direct the disposition of: -0-
Item 5 Ownership of 5% or Less of Class: Not Applicable
Item 6 Ownership of More than 5% on Behalf of Another Person: Not
Applicable
Item 7 Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on by the Parent Holding Company: Not
Applicable
Item 8 Identification and Classification of Members of the Group: Not
Applicable
Item 9 Notice of Dissolution of Group: Not Applicable
Item 10 Certification: By signing below I certify that, to the best of
my knowledge and belief, the securities referred to above were
not acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: August 11, 1998 /S/ Neil C. Sullivan
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Neil C. Sullivan
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