United States
Securities and Exchange Commission
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
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COMPOSITECH LTD
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Name of Issuer
Common Stock
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Title of Class of Securities
204938 10 4
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CUSIP Number
Check the following space if a fee is being paid with this statement --.
(A fee is not required if the filing person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(see Rule 13d-7).
* The remainder of this cover page shall be filled 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 the
disclosures provided in a prior cover page.
The information required in 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).
<PAGE>
CUSIP NO. 204938 10 4 Page 2 of 5
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1. Name of Reporting Person Social Security Number
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Jonas Medney
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2. Check the Appropriate Box if a Member of a Group
a.
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b.
-------
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3. SEC Use Only
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4. Citizenship or Place of Organization
United States Citizen
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Number of Shares 5. Sole Voting Power
Beneficially Owned 1,271,111
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by Each Reporting 6. Shared Voting Power
Person With -0-
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7. Sole Dispositive Power
1,271,111
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8. Shared Dispositive Power
-0-
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9. Aggregate Amount Beneficially Owned By Each Reporting Person
1,271,111*
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10. Check if the Aggregate Amount in Row 9 Excludes Certain Shares*
----
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11. Percent of Class Represented by Amount in Row 9
16.2%
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12. Type of Reporting Person*
IN
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* See Instructions
<PAGE>
SCHEDULE 13G
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ITEM 1 (A). NAME OF ISSUER:
COMPOSITECH LTD.
ITEM 1 (B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
120 Ricefield Lane, Hauppauge, New York 11788
ITEM 2 (A). NAME OF PERSON FILING:
Jonas Medney
ITEM 2 (B). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
120 Ricefield Lane, Hauppauge, New York 11788
ITEM 2 (C). CITIZENSHIP:
United States Citizen
ITEM 2 (D). TITLE OF CLASS OF SECURITIES:
Common Stock
ITEM 2 (E). CUSIP NUMBERS:
204938 10 4
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR
13D-2(B), CHECK WHETHER THE PERSON IS FILING A:
n/a
ITEM 4. OWNERSHIP:
(a) Amount Beneficially Owned:
1,271,111
(b) Percent of Class:
16.2%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
1,271,111
(ii) shared power to vote or direct the vote:
-0-
(iii) sole power to dispose or to direct the
disposition of:
1,271,111
(iv) shared power to dispose or to direct the
disposition of:
-0-
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
n/a
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
n/a
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT
HOLDING COMPANY:
n/a
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
n/a
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
n/a
ITEM 10. CERTIFICATION:
n/a
<PAGE>
SIGNATURE
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.
Date: February 12, 1998
Signature: /s/ Jonas Medney
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Name/Title: Jonas Medney
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Chairman and CEO
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