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FORM 3 OMB APPROVAL
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|_| Check this box if no longer OMB Number 3235-0104
subject to Section 16. Form 4 Expires: April 30, 1997
or Form 5 obligations may Estimated average burden
continue. See Instruction 1(b). hours per response...0.5
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U.S. 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)
<TABLE>
<S> <C> <C>
- ------------------------------------------ ------------------------------------------- ------------------------------------------
1. Name and Address of Reporting Person 2. Date of Event 4. Issuer Name and Ticker or Trading Symbol
Requiring
(Month/Day/Year)
Bernstein, Lawrence H. 07/30/98 Grand Toys International, Inc. ("GRIN")
- ------------------------------------------ ------------------ --------------------------------------------------------------
(First) (First) (Middle) 3. IRS or Social 5. Relationship of Reporting Person 6. If Amendment, Date of
21 Livermore Road Security Number to Issuer (Check all applicable) Original
of Reporting __X___ Director _______ 10% Owner (Month/Day/Year)
- ------------------------------------------ Person ______ Officer _______ Other 8/25/98
(Street) (Voluntary) (give title (specify 7. Individual or Joint/
below) below) Group
Wellesley, Massachusetts 02481 Filing (Check App-
- ------------------------------------------ licable Line)
(City) (State) (Zip) _X_ Form filed by
One Reporting Person
___ Form filed by
More than One
Reporting Person
------------------ ------------------------ ------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Table I - Non-Derivative Securities Beneficially Owned
---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
- -------------------------- ---------------- ------------ ----------------------------------- --------------- ------------- ---------
1. Title of Security 2. Amount of 3. Owner- 4. Nature of
(Instr. 4) Securities ship Indirect
Beneficially Form: Beneficial
owned at Direct Ownership
End of Month (D) or (Instr. 5)
(Instr. 4) Indirect
(I)
(Instr. 5)
- -------------------------- ---------- ------ ----- ------------- ------ -------------- ---------------- ------------- --------------
- -------------------------- ---------- ------ ----- ------------- ------ -------------- ---------------- ------------- --------------
- -------------------------- ---------- ------ ----- ------------- ------ -------------- ---------------- ------------- --------------
</TABLE>
* If the form is filed by more than one reporting person, see Instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
SEC 1474 (7-96)
Page 1 of 2
<PAGE>
<TABLE>
<CAPTION>
FORM 3 (continued)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<S> <C> <C> <C> <C> <C>
- ----------------- ---------- ----------------- ------------ ----------------- ------------
1.Title of Deri- 2.Date 3.Title and Amount 4.Conversion 5.Ownership 6.Nature of
vative Security Exercis- of Securities or Exercise Form of Beneficial
(Instr.4) able and Underlying Price of Derivative Indirect
Expiration Derivative Derivative Security: Ownership
Date Security (Instr. 4) Security Direct (D) (Instr. 5)
(Month/Day/ or Indirect (I)
Year) (Instr. 5)
------ ----- ----------------
Date Expi- Title Amount
Exer- ration or Number
cisable Date of Shares
- -------------- ------- ----- -------- -------- -------------------------------------------
Option to 7/30/98 7/30/08 Common 140,000 $5.50 D
Purchase Stock
Common Stock
- -------------- ------- ----- -------- ------- ---------------------------------------
</TABLE>
Explanation of Responses:
By: /s/ Lawrence H. Bernstein 12/16/98
**(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 contained in this form
are not required to respond unless the form displays valid OMB Number.
Page 2 of 2
