U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-C
Report by Issuer of Securities Quoted on Nasdaq
Inter-Dealer Quotation System Filed Pursuant to
Section 13 or 15(d) of the Securities Exchange Act
of 1934 an Rules 13a-17 and 15d-17 Thereunder
BALTIC INTERNATIONAL USA, INC.
(Exact Name or Issuer as Specified in Charter)
1990 Post Oak Boulevard, Suite 1630, Houston, Texas 77056
(Address of Principal Executive Offices)
(713) 961-9299
(Issuer's Telephone Number, Including Area Code)
I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of 5% or more in the
number of shares outstanding:
1. Title of Security: Common Stock
2. Number of shares outstanding before the change: 5,372,685
3. Number of shares outstanding after the change: 6,007,315
4. Effective date of change: September 1995 through May 1996
5. Method of change:
Specify method (such as merger, acquisition, exchange,
distribution, stock split, reverse split, acquisition of stock
for treasury, etc.)
Original Issuances
Give brief description of transaction: Between September 1995
and May 1996, an aggregate of 113,202 shares were issued in a
series of capital raising transactions not involving a public
offering. In addition, 447,680 shares were issued upon exercise
of outstanding options, 25 shares were issued upon exercise of
outstanding warrants and 73,723 shares were issued upon
conversion of outstanding shares of the Company's Series B
Convertible Redeemable Preferred Stock.
II. CHANGE IN NAME OF ISSUER
1. Name prior to change:
2. Name after change:
3. Effective date of charter amendment changing name:
4. Date of shareholder approval of change, if required:
Date: May 31, 1996 /s/ James W. Goodchild
JAMES W. GOODCHILD, Chief Operating and
Financial Officer
