<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Act of 1934
(Amendment No. 3)*
JUST TOYS, INC.
--------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
--------------------------------------------------------------------
(Title of Class of Securities)
482133 30 3
--------------------------------------------
(CUSIP Number)
7/12/98, 10/29/98, 11/22/98, 7/12/99, 11/22/99,
11/30/99, 1/18/00 and 3/28/00
-------------------------------------------------------------------
(Dates of Events which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
*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 the disclosures provided in a prior cover page.
The information required in 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).
<PAGE>
CUSIP NO. 482133 30 3 13G Page 2 of 5 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
Morton J. Levy
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
N/A
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 171,698
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING ----------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
171,698
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
171,698
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.3%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
* SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 482133 30 3 13G Page 3 of 5 Pages
--------------------------------------------------------------------------------
Item 1(a). Name of Issuer:
Just Toys, Inc.
Item 1(b). Address of Issuer's Principal Executive Office:
20 Livingstone Avenue
Dobbs Ferry, New York 10522
Item 2(a). Name of Person Filing:
Morton J. Levy
Item 2(b). Address of Residence
624 Boca Marina Ct.
Boca Marina Yacht Club
Boca Raton, Florida 33487
Item 2(c). Citizenship:
United States of America
Item 2(d). Title of Class of Securities:
Common Stock, par value $.01 per share.
Item 2(e). CUSIP Number:
482133 30 3
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), Check Whether the Person Filing is a:
Not Applicable.
Item 4. Ownership.
(a) Amount beneficially owned:
171,698 shares including 102,000 shares issuable
upon exercise of currently exercisable stock options, but
which does not include an additional 3,500 shares issuable
upon exercise of stock options which will vest on July 12,
2000.
(b) Percent of Class:
7.3%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
69,698 shares and 102,000 shares
subject to the options.
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose of or to direct the
disposition of:
69,698 shares and 102,000 shares
subject to the options.
(iv) Shared power to dispose or to direct the
disposition of:
0
<PAGE>
CUSIP NO. 482133 30 3 13G Page 4 of 5 Pages
--------------------------------------------------------------------------------
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
Not Applicable.
Item 8. Identification and Classification of Members of the Group.
Not Applicable.
Item 9. Notice of Dissolution of Group.
Not Applicable.
Item 10. Certifications.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above
were not acquired and are not held for the purpose of or
with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any
transaction having that purpose or effect.
<PAGE>
CUSIP NO. 482133 30 3 13G Page 5 of 5 Pages
--------------------------------------------------------------------------------
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information in this statement is true, complete and correct.
Dated: May 26, 2000
/s/ Morton J. Levy
----------------------------------
Morton J. Levy
