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FORM 3 OMB APPROVAL
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OMB Number 3235-0104
Expires: September 30, 1998
Estimated average burden
hours per response .............0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Yalcin Mehmet Gundez
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(Last) (First) (Middle)
c/o Just Toys, Inc.
20 Livingstone Avenue
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(Street)
Dobbs Ferry New York 10522
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
5/23/00
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3. IRS Identification Number of Reporting Person, if an entity (voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Just Toys, Inc. (JUST)
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5. Relationship of Reporting Person to Issuer (Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Financial Officer and Treasurer
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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TABLE I - Non-Derivative Securities Beneficially Owned
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1. Title of Security | 2. Amount of Securities | 3. Ownership Form: | 4. Nature of Indirect Beneficial
(Instr. 4) | Beneficially Owned | Direct (D) or Indirect | Ownership (Instr. 5)
| (Instr. 4) | (I) (Instr. 5) |
<S> <C> <C> <C>
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Reminder: Report on a seperate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
5(b)(v).
(Over)
Potential persons who are to respond to the collection
of information contained in this form are not required to
respond unless the form displays a currently valid OMB control number.
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FORM 3 (continued) Table II -- Derivative Securities Benefically Owned
(e.g., puts, calls, warrants, options, convertible securities)
<S> <C>
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date
| (Month/Day/Year)
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| Date Exercisable | Expiration Date
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Employee Stock Option (1) 5/22/10
(Right to Buy)
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3. Title and Amount of Securities | 4. Conversion or Exercise | 5. Ownership Form of Derivative | 6. Nature of Indirect
Underlying Derivative Security | Price of Derivative | Security: Direct (D) or | Beneficial Ownership
(Instr. 4) | Security | Indirect (I) (Instr. 5) | (Instr. 5)
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| Ammount or | | |
| Number of | | |
Title | Shares | | |
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Common Stock | 15,000 | $1.25 | D |
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Explanation of Responses:
(1) The option vests in the three equal annual installments beginning on May 22,
2001.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 10 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this Form are not required to respond unless the Form displays a current
valid OMB Number.
/s/ Mehmet Gunduz Yalcin June 2, 2000
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**Signature of Reporting Person Date
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