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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. 5)
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)
March 9, 1999
(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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CUSIP NO. - 987816 10 5
<TABLE>
<S> <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.........................................1,826,300
(8) Shared voting power...............................................0
(9) Sole dispositive power....................................1,826,300
(10) Shared dispositive power..........................................0
(11) Aggregate amount beneficially
owned by each reporting person..................................1,826,300
(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)...............................................16.1%
(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 $73,140 of personal
funds to purchase the additional shares of the
Issuer's Common Stock that is the subject of this
Amendment No. 5 statement.
Item 4. Purpose of Transaction
On March 9, 1999, the reporting person purchased
30,000 shares of the Common Stock of the Issuer for
$2.438 per share.
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.
Notwithstanding any of the preceding statements to
the contrary, the reporting person has determined
that he will vote against the Plan of Merger among
Correctional Services Corporation ("CSC"), Palm
Merger Corp. and
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the Issuer. The reporting person decided to vote for
approval of the Plan of Merger until the exchange
ratio was reduced from .375 of a share of CSC for
each share of Common Stock of the Issuer to .275 of a
share of CSC stock for each share of Common Stock of
the Issuer (approximately a 35% reduction).
Item 5. Interest in Securities of the Issuer
a. and b. Beneficial Interest: Jacob May
i. Owned 1,826,300 16.1%
ii. Sole Voting Power 1,826,300 16.1%
Shared Voting Power 0 0.0%
Sole Dispositive Power 1,826,300 16.1%
Shared Dispositive Power 0 0.0%
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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: March 18, 1999 /s/ Jacob May
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Jacob May
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