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 obligations may continue. See Instructions 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*
Gaisser Gary T
(Last) (First) (Middle)
c/o Versus Technology, Inc.
2600 Miller Creek Road
(Street)
Traverse City MI 49684
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Versus Technology, Inc. - VSTI.OB
3. IRS or Social Security Number of Reporting Person (Voluntary)
Not furnished
4. Statement for Month/Year
September 2000
5. If Amendment, Date of Original (Month/Year)
N/A
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [X] 10% Owner
[X] Officer (give title below) [ ] Other (Specify below)
President and Chief Executive Officer
____________________________________________________
7. Individual or Joint/Group Filing
(Check applicable line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
* If the Form is filed by more than one Reporting Person, see instruction
4(b)(v)
<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> <S> <C> <S> <C> <C> <S>
Common Stock 9/28/00 M 95,752 A $.20 5,845,875 D
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
</TABLE>
<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> <S> <C> <S> <S> <S> <C> <C> <S>
Options $0.375 (1) 6/4/06 Common 1,000,000 1,000,000 D(1)
Options $0.515 (2) 4/24/03 Common 36,000 36,000 D(2)
Options $0.165 (3) 4/23/04 Common 36,000 36,000 D(3)
Options $0.50 (4) 4/17/05 Common 44,000 44,000 D(4)
Options $0.325 09/08/00 A 225,000(A) (5) 9/08/10 Common 225,000 225,000 D(5)
Warrants $0.20 09/28/00 P 95,752(A) 9/28/05 Common 95,752 $.10
Warrants $0.20 09/28/00 X 95,752(D) 9/28/05 Common 95,752 N/A -0-
Explanation of Responses:
(1) Incentive Stock Option granted to the Reporting Person pursuant to the 1996 Employee
Incentive Stock Option Plan; fully vested.
(2) Granted to the Reporting Person for services as a director for the
year beginning April 24, 1998; fully vested.
(3) Granted to the Reporting Person for services as a director for the year beginning
April 23, 1999; fully vested.
(4) Granted to the reporting person for services as a director for the year beginning
April 14,2000; options vest 100% on April 17, 2001.
(5) Granted to the Reporting Person pursuant to the 1999 Employee Incentive Stock Plan.
Twenty (20%) percent of the options become exercisable on September 8, 2001 and 20% on each
succeeding anniversary thereafter.
</TABLE>
GARY T. GAISSER October 10, 2000
__________________________ _____________________
Gary T. Gaisser Date
**Signature of Reporting
Person
**Intentional misstatements or omissions of facts constitute
Federal Criminal Violations. See 18 U.S.C. 1001 and
15 U.S.C. 78ff(a).
