FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check if no longer
subject to Section 16.
Form 4 or Form 5 obliga-
tions may continue. See
Instruction 1(b).
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
1. Name and Address of Reporting Person
Gary T. Gaisser
2320 W. Aero Park Court
Traverse City, MI 49686
2. Issuer Name and Ticker or Trading Symbol
Versus Technology, Inc. VSTI
3. IRS or Social Security Number of Reporting Person
(Voluntary)
Not furnished
4. Statement for Month/Year
August 1996
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [X] 10% Owner
[X] Officer (give title [ ] Other (Specify below)
below)
President and Chief Executive Officer
_____________________________________<PAGE>
<TABLE>
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
5. Amount
3. Trans- 4. Securities of Securi-
action Acquired (A) or ties Bene- 6. Owner-
Code Disposed of (D) ficially ship Form: 7. Nature of
(Instr. 8) (Instr. 3, 4 & 5) Owned at Direct(D) Indirect
2. Trans- _________ ___________________ End of or Indirect Beneficial
1. Title of Transaction (A) or Month (I) Ownership
Security Date Code V Amount (D) Price (Inst. 3&4) (Instr. 4) (Instr. 4)
(Instr. 3) (Mo./day/yr.)
_________________ ___________ ____ ___ ______ _____ _____ ________ ___________ _________
<S> <C> <S> <C> <C> <S>
Common Stock 8/26/96 J(1) 5,705,123 A 0.50 5,705,123 D
Common Stock 8/26/96 J(2) 509,888 D 0.50 0 I by closely
_________ held corp.
5,720,123
/TABLE
<PAGE>
<TABLE>
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
9.
Number
5. Number 7. Title of
of Deriv- 6. Date and Amount Deriv- 10. Own-
ative Sec- Exercisable of Under- ative ership
urities & Expiration lying Sec- Secur- Form of 11.
Acquired Date urities (In- ities Deriva- Nature
4. Trans- (A) or (Mo./day/yr.)str. 3 & 4) 8. Benefi- tive Sec- of In-
2. Conver- action Disposed _____________ _____________ Price cially urity: direct
sion or 3. Trans- Code of (D) Amount of Owned Direct(D) Bene-
1. Title of Exercise action (Instr. 8) (Instr. 3, or Deriv- at End or In- ficial
Derivative Price of Date) 4 and 5) Date Expir- Number ative of direct(I) Owner-
Security Derivative (Month/ ____________________ Exer- ation of Security Month (Instr. ) ship
(Instr. 3) Security day/yr.) Code V (A) (D) cisable Date Title Shares (Instr. (Instr. 4) (Instr.
5) 4) 4)
____________ _________ ________ ____ _ ______ ____ _______ _____ _____ ______ ________ _______ _________ _______
<S> <C> <C> <S>
Options $0.375 6/4/96 6/7/06 Common 1,000,000 (4) 1,000,000 D
Stock (options)
Warrants $0.50 8/26/96 J(3) 50,000 1/96 N/A Common 50,000 N/A 0 I by closely
Stock _________ held corp.
1,000,000
(options)
Explanation of Responses:
(1) Shares of Common Stock of the Registrant issuable to the Reporting Person as a result of the
merger of a closely held corporation controlled by the Reporting Person into a subsidiary
of the Registrant.
(2) Shares of Common Stock of the Registrant held by a closely held corporation controlled by
the Reporting Person. Shares were cancelled pursuant to merger described in (1) above.
(3) Warrants to purchase shares of Common Stock of the Registrant held by a closely held corporation controlled by the
Reporting Person. Warrants were cancelled pursuant to merger described in (1) above.
(4) Incentive Stock Option granted to the Reporting Person pursuant to the Registrant's Incentive Stock Option Plan.
</TABLE>
GARY T. GAISSER September 10, 1996
__________________________ ________________
Gary T. Gaisser
Signature of Reporting Date
Person
