<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.)
EP MEDSYSTEMS, INC.
---------------------
(Name of Issuer)
Common Stock, Par Value $.001
----------------------------------------------------
(Title of Class of Securities)
26881P103
------------------------
(CUSIP Number)
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 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 to 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>
<PAGE>
SCHEDULE 13G
- ------------------- -----------------
CUSIP No. 26881P103 Page 2 of 19 Pages
- ------------------- ------------------
===========================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
The SC Fundamental Value Fund, L.P.
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ---------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ---------------------------------------------------------------------------
5 SOLE VOTING POWER
0
- ---------------------------------------------------------------------------
6 SHARED VOTING POWER
376,800
- ---------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
376,800
- ---------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
376,800
- ---------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.8%
- ---------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
===========================================================================
<PAGE>
<PAGE>
SCHEDULE 13G
- ------------------- -----------------
CUSIP No. 26881P103 Page 3 of 19 Pages
- ------------------- ------------------
===========================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC Fundamental Value BVI, Ltd.
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- ---------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ---------------------------------------------------------------------------
5 SOLE VOTING POWER
0
- ---------------------------------------------------------------------------
6 SHARED VOTING POWER
373,200
- ---------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
373,200
- ---------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
373,200
- ---------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.8%
- ---------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
===========================================================================
<PAGE>
<PAGE>
SCHEDULE 13G
- ------------------- --------------------
CUSIP No. 26881P103 Page 4 of 19 Pages
- ------------------- --------------------
===========================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC Fundamental Inc.
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ---------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ---------------------------------------------------------------------------
5 SOLE VOTING POWER
0
- ---------------------------------------------------------------------------
6 SHARED VOTING POWER
376,800
- ---------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
376,800
- ---------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
376,800
- ---------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.8%
- ---------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
===========================================================================
<PAGE>
<PAGE>
SCHEDULE 13G
- ------------------- ------------------
CUSIP No. 26881P103 Page 5 of 19 Pages
- ------------------- ------------------
===========================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC Fundamental Value BVI, Inc.
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ---------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ---------------------------------------------------------------------------
5 SOLE VOTING POWER
0
- ---------------------------------------------------------------------------
6 SHARED VOTING POWER
373,200
- ---------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
373,200
- ---------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
373,200
- ---------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.8%
- ---------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
===========================================================================
<PAGE>
<PAGE>
SCHEDULE 13G
- ------------------- ------------------
CUSIP No. 26881P103 Page 6 of 19 Pages
- ------------------- ------------------
===========================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC Fundamental, LLC
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ---------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ---------------------------------------------------------------------------
5 SOLE VOTING POWER
0
- ---------------------------------------------------------------------------
6 SHARED VOTING POWER
376,800
- ---------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
376,800
- ---------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
376,800
- ---------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.8%
- ---------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
===========================================================================
<PAGE>
<PAGE>
SCHEDULE 13G
- ------------------- ------------------
CUSIP No. 26881P103 Page 7 of 19 Pages
- ------------------- ------------------
===========================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC-BVI Partners
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ---------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ---------------------------------------------------------------------------
5 SOLE VOTING POWER
0
- ---------------------------------------------------------------------------
6 SHARED VOTING POWER
373,200
- ---------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
373,200
- ---------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
373,200
- ---------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.8%
- ---------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
===========================================================================
<PAGE>
<PAGE>
SCHEDULE 13G
- ------------------- ------------------
CUSIP No. 26881P103 Page 8 of 19 Pages
- ------------------- ------------------
===========================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Gary N. Siegler
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ---------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ---------------------------------------------------------------------------
5 SOLE VOTING POWER
0
- ---------------------------------------------------------------------------
6 SHARED VOTING POWER
750,000
- ---------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
750,000
- ---------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
750,000
- ---------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.6%
- ---------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
===========================================================================
<PAGE>
<PAGE>
SCHEDULE 13G
- ------------------- ------------------
CUSIP No. 26881P103 Page 9 of 19 Pages
- ------------------- ------------------
===========================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Peter M. Collery
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ---------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ---------------------------------------------------------------------------
5 SOLE VOTING POWER
0
- ---------------------------------------------------------------------------
6 SHARED VOTING POWER
750,000
- ---------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
750,000
- ---------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
750,000
- ---------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.6%
- ---------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
===========================================================================
<PAGE>
<PAGE>
SCHEDULE 13G
- ------------------- -------------------
CUSIP No. 26881P103 Page 10 of 19 Pages
- ------------------- -------------------
===========================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Neil H. Koffler
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ---------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ---------------------------------------------------------------------------
5 SOLE VOTING POWER
0
- ---------------------------------------------------------------------------
6 SHARED VOTING POWER
750,000
- ---------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
750,000
- ---------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
750,000
- ---------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.6%
- ---------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
===========================================================================
<PAGE>
<PAGE>
SCHEDULE 13G
- ------------------- -------------------
CUSIP No. 26881P103 Page 11 of 19 Pages
- ------------------- -------------------
===========================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Curtis G. Macnguyen
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ---------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ---------------------------------------------------------------------------
5 SOLE VOTING POWER
0
- ---------------------------------------------------------------------------
6 SHARED VOTING POWER
750,000
- ---------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
- ---------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
750,000
- ---------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
750,000
- ---------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.6%
- ---------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
===========================================================================
<PAGE>
<PAGE> Page 12 of 19 Pages
SCHEDULE 13G
Item 1.
(a) Name of Issuer:
EP Medsystems, Inc.
(b) Address of Issuer's Principal Executive Office:
100 Stierli Court
Suite 107
Mount Arlington, NJ 07856
Item 2. Name of Person Filing
(a) Name of Person Filing:
The SC Fundamental Value Fund, L.P. ("Fund")
SC Fundamental Value BVI, Ltd. ("BVI Fund")
SC Fundamental Inc. ("SC")
SC Fundamental Value BVI, Inc. ("BVI Inc.")
SC Fundamental, LLC ("SCFLLC")
SC-BVI Partners
Gary Siegler ("Siegler")
Peter M. Collery ("Collery")
Neil H. Koffler ("Koffler")
Curtis G. Macnguyen ("Macnguyen")
(b) Address of Principal Office:
10 East 50th Street
New York, New York 10022
(c) Citizenship/Organization:
Fund - Delaware
BVI Fund - British Virgin Islands
SC - Delaware
BVI Inc. - Delaware
SCFLLC - New York
SC-BVI Partners - Delaware
Siegler - United States
Collery - United States
Koffler - United States
Macnguyen - United States
<PAGE>
<PAGE> Page 13 of 19 Pages
(d) Title Class of Securities:
Common Stock, Par Value $.001
(e) CUSIP Number: 26881P103
Item 3. If this Statement is filed pursuant to Rule 240.13(d)-1(b or
240.13d-2(b) or (c), check whether the person filing is a:
If this Statement is filed pursuant to Rule 240.13(d)-1(c), check this box [x].
Item 4. Ownership.
I. Fund, SCFLLC and SC
(a) Amount Beneficially Owned: Fund, SCFLLC and SC
SCFLLC, as the general partner of Fund, and SC, as the
corporate member and manager of SCFLLC, may be deemed to share with Fund
the power to vote or direct the vote and to dispose or to direct the
disposition of the 376,800 shares of Common Stock of which Fund is the
direct beneficial owner.
(b) Percent of Class: 3.8%
(c) Number of Shares to Which Such Person Has:
(i) Sole voting power - 0
(ii) Shared voting power - 376,800
(iii) Sole dispositive power - 0
(iv) Shared dispositive power - 376,800
II. BVI Fund, BVI Inc. and SC-BVI Partners
(a) Amount Beneficially Owned: BVI Fund, BVI Inc. and SC-BVI
Partners
BVI Inc., as the managing general partner of SC-BVI Partners, and
SC-BVI Partners, as the investment manager of BVI Fund, may be deemed to
share with BVI Fund the power to vote or direct the vote and to dispose or
direct the disposition of the 373,200 shares of Common Stock of which BVI
Fund is the direct beneficial owner.
(b) Percent of Class: 3.8%
<PAGE>
<PAGE> Page 14 of 19 Pages
(c) Number of Shares to Which Such Person Has:
(i) Sole voting power - 0
(ii) Shared voting power - 373,200
(iii) Sole dispositive power - 0
(iv) Shared dispositive power - 373,200
III. Siegler, Collery, Koffler and Macnguyen
(a) Amount Beneficially Owned: Siegler, Collery, Koffler and
Macnguyen
Siegler and Collery, by virtue of their status as principal
members of SCFLLC, the general partner of Fund, and as the controlling
stockholders, directors and executive officers of SC, the corporate member
and manager of SCFLLC, may be deemed to share with Fund, SCFLLC and SC the
power to vote or direct the vote and to dispose or to direct the
disposition of the 376,800 shares of Common Stock of which Fund is the
direct beneficial owner. Koffler and Macnguyen, by virtue of their status
as employee members of SCFLLC, the general partner of Fund, may be deemed
to share with Fund and SCFLLC the power to vote or direct the vote and to
dispose or to direct the disposition of the 376,800 shares of Common Stock
of which Fund is the direct beneficial owner.
Siegler and Collery, by virtue of their status as controlling
stockholders, directors and executive officers of BVI Inc., the managing
general partner of SC-BVI Partners, which is the investment manager of BVI
Fund, may be deemed to share with BVI Inc., SC-BVI Partners and BVI Fund
the power to vote or direct the vote and to dispose or direct the
disposition of the 373,200 shares of Common Stock of which BVI Fund is the
direct beneficial owner. Koffler and Macnguyen, by virtue of their status
as executive officers of BVI Inc., the managing general partner of SC-BVI
Partners, which is the investment manager of BVI Fund, may be deemed to
share with BVI Inc., SC-BVI Partners and BVI Fund the power to vote or
direct the vote and to dispose or direct the disposition of the 373,200
shares of Common Stock of which BVI Fund is the direct beneficial owner.
(b) Percent of Class: 7.6%
(c) Number of Shares to Which Such Person Has:
(i) Sole voting power - 0
(ii) Shared voting power - 750,000
(iii) Sole dispositive power - 0
(iv) Shared dispositive power - 750,000
<PAGE>
<PAGE> Page 15 of 19 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 Members of the Subsidiary
Which Acquired the Securities 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. Certification.
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 such purposes
or effect.
117425<PAGE>
<PAGE> Page 16 of 19 Pages
Signature: After reasonable inquiry and to the best of our knowledge
and belief, we certify that the information set forth in this statement
is true, complete and correct.
Date: April 20, 1998
THE SC FUNDAMENTAL VALUE FUND, L.P.
By: SC FUNDAMENTAL, LLC.,
as General Partner
/s/ Peter M. Collery
By: Neil H. Koffler, as Attorney-in-Fact
for Peter M. Collery, Vice President (1)
SC FUNDAMENTAL VALUE BVI, LTD.
BY: SC FUNDAMENTAL VALUE BVI, INC.,
as Managing General Partner of
Investment Manager
/s/ Peter M. Collery
By: Neil H. Koffler, as Attorney-in-Fact
for Peter M. Collery, Vice President (1)
SC FUNDAMENTAL INC.
BY: /s/ Peter M. Collery
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President (1)
SC FUNDAMENTAL VALUE BVI, INC.
BY: /s/ Peter M. Collery
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery,
Vice President (1)
<PAGE>
<PAGE> Page 17 of 19 Pages
SC FUNDAMENTAL, LLC
BY: SC FUNDAMENTAL INC., AS MANAGER
BY: /s/ Peter M. Collery
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery,
Vice President (1)
SC-BVI PARTNERS
BY: SC FUNDAMENTAL VALUE BVI, INC.,
AS MANAGING GENERAL PARTNER
BY: /s/ Peter M. Collery
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery,
Vice President (1)
/s/ Gary Siegler
Neil H. Koffler as Attorney-
in-Fact for Gary Siegler
/s/ Peter M. Collery
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
/s/ Neil H. Koffler
Neil H. Koffler
/s/ Curtis G. Macnguyen
Curtis G. Macnguyen<PAGE>
<PAGE> Page 18 of 19 Pages
Exhibit A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(c) under the Securities Exchange
Act of 1934, as amended, the persons named below agree to the joint filing
on behalf of each of them of a statement on Schedule 13G (including
amendments thereto) with respect to the Common Stock, par value $.001 per
share, of EP Medsystems, Inc. and further agree that this Joint Filing
Agreement be included as an Exhibit to such joint filing. In evidence
thereof, the undersigned, hereby execute this Agreement this 20th day of
April, 1998.
Dated: April 20, 1998
THE SC FUNDAMENTAL VALUE FUND, L.P.
By: SC FUNDAMENTAL, LLC.,
as General Partner
/s/ Peter M. Collery
By: Neil H. Koffler, as Attorney-in-Fact
for Peter M. Collery, Vice President (1)
SC FUNDAMENTAL VALUE BVI, LTD.
BY: SC FUNDAMENTAL VALUE BVI, INC.,
as Managing General Partner of
Investment Manager
/s/ Peter M. Collery
By: Neil H. Koffler, as Attorney-in-Fact
for Peter M. Collery, Vice President (1)
SC FUNDAMENTAL INC.
BY: /s/ Peter M. Collery
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President (1)
<PAGE>
<PAGE> Page 19 of 19 Pages
SC FUNDAMENTAL VALUE BVI, INC.
BY: /s/ Peter M. Collery
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery,
Vice President (1)
SC FUNDAMENTAL, LLC
BY: SC FUNDAMENTAL INC., as Manager
BY: /s/ Peter M. Collery
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery,
Vice President (1)
SC-BVI PARTNERS
BY: SC FUNDAMENTAL VALUE BVI, INC.,
As Managing General Partner
BY: /s/ Peter M. Collery
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery,
Vice President (1)
/s/ Gary Siegler
Neil H. Koffler as Attorney-
in-Fact for Gary Siegler
/s/ Peter M. Collery
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
/s/ Neil H. Koffler
Neil H. Koffler
/s/ Curtis G. Macnguyen
Curtis G. Macnguyen
(1) Executed by Neil H. Koffler as Attorney-in-Fact for Peter M.
Collery and Gary N. Siegler. The Powers of Attorney for
Messrs. Collery and Siegler were filed as Exhibit A to Amendment
No. 5 to the Schedule 13D relating to the US Facilities Corporation
on August 4, 1995 and are hereby incorporated herein by reference.
117425
