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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. ________________)*
VSI Enterprises, Inc.
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(Name of Issuer)
Common Stock $.00025 par value per share.
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(Title of Class of Securities)
91 832 B 504
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(CUSIP Number)
Robert M. Krasne, Esq., Williams & Connolly, 725 12th St., N.W., Washington,
D.C. 20005 (202) 434-5188
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
June 3, 1996
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with the statement /xx/. (A fee
is not required only if the reporting 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.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*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
disclosures provided in a prior cover page.
The information required on 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).
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SCHEDULE 13D
CUSIP NO. 91 832 B 504 PAGE 2 OF 7 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edward S. Redstone
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /xx/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
NUMBER OF
SHARES 1,800,000
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER**
EACH
REPORTING 1,802,500
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
1,800,000
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10 SHARED DISPOSITIVE POWER**
1,802,500
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON**
1,802,500
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.183
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, REPSONSES TO ITEMS 1-7 2 of 7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
CUSIP NO. 91 832 B 504 PAGE 3 OF 7 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Madeline M. Redstone
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /x/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
NUMBER OF
SHARES 2,500
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER**
EACH
REPORTING 1,802,500
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
2,500
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10 SHARED DISPOSITIVE POWER**
1,802,500
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON**
1,802,500
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.183
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 2 of 7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
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PAGE 4 OF 7 PAGES
Item 1. Security and Issuer.
This statement relates to common stock, par value $.00025 per share
(the "Shares"), of VSI Enterprises, Inc., a Delaware Corporation (the
"Company"). The Company's principal executive offices are located at 5801
Goshen Springs Road, Norcross, Georgia 30071.
Item 2. Identity and Background.
(a), (b) and (c). This statement is being filed by
Edward S. Redstone (Investor)
709 Monument Street
Concord, MA 01742
Madeline M. Redstone (Investor)
709 Monument Street
Concord, MA 01742
(collectively, the "Reporting Persons")
(d) and (e). During the last five years the Reporting Persons have
not (i) been convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors) or (ii) been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and as a result of
such proceeding was or is subject to a judgment, decree or final order
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
(f). The Reporting Persons are citizens of the United States.
Item 3. Source and Amount of Funds or Other Consideration.
The Shares were acquired with personal funds of the Reporting Persons.
The aggregate amount of the consideration for the Shares of the Reporting
Persons was $ 5,429,875.16.
Item 4. Purpose of Transaction.
The Reporting Persons acquired shares in the Company based on their
view that the shares represented an attractive investment. The Reporting
Persons have no present plans or proposals which relate to or would result in
any of the actions specified in clauses (a) through (j) of Item 4 of Schedule
13D, but they may periodically acquire or dispose of shares of the Company,
depending on market circumstances.
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PAGE 5 OF 7 PAGES
Item 5. Interest in Securities of the Issuer.
(a) Effective as of June 3, 1996, the Reporting Persons owned in
the aggregate 1,802,500 Shares, which represent 5.183% of the 34,776,560 shares
outstanding as of April 29, 1996 according to the Proxy Statement for the
Annual Meeting of Shareholders to be held on June 13, 1996 filed with the
Commission on May 3, 1996.
(b) The Reporting Persons have the sole power to direct the voting
and disposition of the Shares owned by the Reporting Persons.
(c) Other than acquiring the Shares reported in this Schedule, the
Reporting Persons have not effected any transactions in the Shares within the
past sixty days.
(d) and (e). N/A.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.
None.
Item 7. Material to be Filed as Exhibits.
None.
Item **. Miscellaneous.
The Reporting Persons, by virtue of familial relationships, may be
deemed to be beneficial owners of the Shares owned by each Reporting Person's
spouse. Although, for disclosure purposes, the 2500 shares beneficially owned
by Madeline M. Redstone, have been included on Rows 8, 10 and 11 on the Cover
Page for Edward S. Redstone, such filing shall not be construed as an admission
that Edward S. Redstone is the beneficial owner of his spouse's Shares.
Likewise, the inclusion of the 1,800,000 shares owned by Edward S. Redstone on
Rows 8, 10 and 11 on the Cover Page for Madeline M. Redstone shall not be
construed as an admission that she is the beneficial owner of such Shares.
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PAGE 6 OF 7 PAGES
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.
/s/ Edward S. Redstone
--------------------------
Edward S. Redstone
Dated: June 5, 1996
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PAGE 7 OF 7 PAGES
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.
/S/ Madeline M. Redstone
--------------------------
Madeline M. Redstone
Dated: June 5, 1996
