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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. 3)
YOUTH SERVICES INTERNATIONAL, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
987816 10 5
(CUSIP Number)
Parker W. Duncan, Esq.
Wyatt, Tarrant & Combs
Suite 1500
511 Union Street
Nashville, TN 37219
(615) 244-0020
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 11, 1998
(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 this statement. [__]
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<TABLE>
<CAPTION>
CUSIP NO. - 987816 10 5
<S> <C> <C>
(1) Name of reporting person......................................Jacob May
S.S. No. of above person...............................SSN ###-##-####
(2) Check the appropriate box
if a member of a group
(see instructions)..................................................(a)
(b) X
(3) SEC use only...............
(4) Source of funds (see instructions)...................................PF
(5) Check box if disclosure
of legal proceedings is
required pursuant to
Items 2(d) or 2(e)..................................................N/A
(6) Citizenship or place
of organization.....................................................USA
Number of shares beneficially owned
by each reporting person with:
(7) Sole voting power....................................1,590,300
(8) Shared voting power..........................................0
(9) Sole dispositive power...............................1,590,300
(10) Shared dispositive power.....................................0
(11) Aggregate amount beneficially
owned by each reporting person................................1,590,300
(12) Check box if the aggregate amount
in Row (11) excludes certain
shares (see instructions)...........................................N/A
(13) Percent of class represented
by amount in Row (11).............................................14.1%
(14) Type of reporting person.............................................IN
</TABLE>
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The purpose of this amendment is to report the purchase of additional
shares of the Issuer's Common Stock by the reporting person and to correct a
prior amendment.
Items 3, 4 and 5 are amended by adding thereto the following
information:
Item 3. Sources and Amount of Funds or Other Consideration
The reporting person has used $2,179,683 of personal funds
to purchase the additional shares of the Issuer's Common
Stock that is the subject of this Amendment No.3 statement.
Item 4. Purpose of Transaction
On July 1, 1998, the reporting person purchased 17,000
shares of the Issuer's Common Stock at a price of $7.4688
per share. On July 2, 1998, the reporting person purchased
20,000 shares of the Issuer's Common Stock at a price of
$8.125 per share. On July 11, 1998, the reporting person
purchased 35,000 shares of the Issuer's Common Stock at a
price of $9.4857 per share. On July 31, 1998, the reporting
person purchased 10,000 shares of the Issuer's Common Stock
at a price of $7.3125 per share.
On August 4, 1998, the reporting person purchased 30,000
shares of the Issuer's Common Stock at a price of $6.6802
per share. On August 5, 1998, the reporting person purchased
10,000 shares of the Issuer's Common Stock at a price of
$6.6875 per share. On August 11, 1998, the reporting person
purchased 15,000 shares of the Issuer's Common Stock at a
price of $6.73 per share. On August 12, 1998, the reporting
person purchased 25,000 shares of the Issuer's Common Stock
at a price of $6.92 per share.
On August 14, 1998, the reporting person purchased 15,000
shares of the Issuer's Common Stock at a price of $5.6667
per share. On August 14, 1998, the reporting person
purchased an additional 10,000 shares of the Issuer's Common
Stock at a price of $5.9375 per share. On August 17, 1998,
the reporting person purchased 25,000 shares of the Issuer's
Common Stock at a price of $5.625 per share. On August 20,
1998, the reporting person purchased 20,000 shares of the
Issuer's Common Stock at a price of $6.562 per share.
On August 21, 1998, the reporting person purchased 20,000
shares of the Issuer's Common Stock at a price of $6.687 per
share. On August 24, 1998, the reporting person purchased
10,000 shares of the Issuer's Common Stock at a price of
$6.5625 per share. On August 25, 1998, the reporting person
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purchased 10,000 shares of the Issuer's Common Stock at a
price of $6.187 per share.
On August 26, 1998, the reporting person purchased 8,500
shares of the Issuer's Common Stock at a price of $5.625 per
share. On August 27, 1998, the reporting person purchased
20,000 shares of the Issuer's Common Stock at a price of
$5.375 per share. On August 28, 1998, the reporting person
purchased 10,000 shares of the Issuer's Common Stock at a
price of $5.5625 per share. On August 31, 1998, the
reporting person purchased 10,000 shares of the Issuer's
Common Stock at a price of $5.5625 per share.
In the reporting person's Amendment No. 1 statement, the
June 10, 1998, purchase of 35,000 shares of the Issuer's
Common Stock was reported in error. The shares of the
Issuer's Common Stock represented by this entry had
previously been reported in the reporting person's original
Schedule 13D filing.
The reporting person has purchased the Common Stock of the
Issuer for investment purposes only.
The reporting person has no present plan or proposal which
relates to or would result in: (i) the acquisition by any
person of additional securities of the Issuer, or the
disposition of securities of the Issuer, other than for
investment purposes, (ii) an extraordinary corporate
transaction, such as a merger, reorganization or liquidation
involving the Issuer or any of its subsidiaries, (iii) a
sale or transfer of a material amount of assets of the
Issuer or any of its subsidiaries, (iv) any change in the
present board of directors or management of the Issuer,
including any plans or proposals to change the number or
term of directors or to fill any existing vacancies on the
board, (v) any material change in the present capitalization
or dividend policy of the Issuer, (vi) any other material
change in the Issuer's business or corporate structure,
(vii) changes in the Issuer's charter, bylaws or instruments
corresponding thereto or other actions which may impede the
acquisition of control of the Issuer by any person, (viii)
causing a class of securities of the Issuer to be delisted
from a national securities exchange or cease to be
authorized to be quoted in an inter-dealer quotation system
of a registered national securities association, (ix) a
class of equity securities of the Issuer becoming eligible
for termination of registration pursuant to Section 12(g)(4)
of the Securities Exchange Act of 1934, or (x) any action
similar to any of those enumerated above.
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Item 5. Interest in Securities of the Issuer
a. and b. Beneficial Interest: Jacob May
<TABLE>
<S> <C> <C> <C>
i. Owned 1,590,300 14.1%
ii. Sole Voting Power 1,590,300 14.1%
Shared Voting Power 0 0.0%
Sole Dispositive Power 1,590,300 14.1%
Shared Dispositive Power 0 0.0%
</TABLE>
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: October 22, 1998 /s/ Jacob May
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Jacob May
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