U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
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
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1. Name and Address of Reporting Person*
Hans Frederic Heye
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(Last) (First) (Middle)
611 Druid Road East, Suite 200
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(Street)
Clearwater, Florida 34616
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
1/20/98
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Mehl/Biophile International Corporation - MEHL
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [ ] 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)
__ 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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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
Common Stock, $.01 par value per share 2,113,600 shares (1) (I) (1) (1)
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Common Stock, $.01 par value per share 2,000 shares (I) By trust
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Common Stock, $.01 par value per share 2,000 shares (I) By trust
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</TABLE>
* If the Form is filed by more than one Reporting Person see instruction
5(b)(v).
(1) 113,600 shares are owned by Clearwater Fund IV, LLC, a limited liability
company of which the Reporting Person is the Managing Member and 2,000,000
shares are owned by Clearwater Fund IV Ltd., which is wholly-owned by Clearwater
Fund IV, LLC. The Reporting Person disclaims beneficial ownership of all such
shares.
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 2
<PAGE>
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 7. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
5% Cumulative Convertible (2) (2) (2) (2) (2) (2) (2)
Preferred Stock, Series G
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Warrant for the Purchase 8/5/97 8/5/02 Common Stock, par 750,000(3) $2.50 (I)(3) (3)
of Common Stock value $.01 per share
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Warrant for the Purchase 9/4/97 9/4/02 Common Stock, par 750,000(3) $2.50 (I)(3) (3)
of Common Stock value $.01 per share
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Warrant for the Purchase 10/2/97 10/2/02 Common Stock, par 1,000,000(3) $2.50 (I)(3) (3)
of Common Stock value $.01 per share
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Warrant for the Purchase 12/2/97 12/2/02 Common Stock, par 500,000(3) $2.50 (I)(3) (3)
of Common Stock value $.01 per share
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</TABLE>
Explanation of Responses:
(2) Clearwater Fund IV, LLC ("Clearwater LLC"), an entity of which the
Reporting Person is the Managing Member, owns 8,000 shares of 5%
Cumulative Convertible Preferred Stock, Series G ("Series G Preferred
Stock") and Clearwater Fund IV Ltd. ("Clearwater Ltd."), which is wholly
owned by Clearwater LLC, owns 2,231 shares of Series G Preferred Stock.
The Series G Preferred Stock is convertible into Common Stock, par value
$0.01 per share of the Issuer ("Common Stock") at any time, at 69.3% of
the average market price of the Common Stock for the five trading days
prior to conversion, subject to certain limitations. The 8,000 shares of
Series G Preferred Stock owned by Clearwater LLC would be convertible into
17,429,193 shares of Common Stock as of May 5, 1998. The 2,231 shares of
Series G Preferred Stock owned by Clearwater Ltd. would be convertible
into 4,860,566 shares as of May 5, 1998. The Reporting Person disclaims
beneficial ownership of all such shares.
(3) The Warrants are owned by the Clearwater Fund IV, LLC, an entity with
respect to which the Reporting Person is the Managing Member. The
Reporting Person disclaims beneficial ownership of all such shares.
/s/ Hans Frederic Heye May 6, 1998
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** 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.
