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United States
Securities and Exchange Commission
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
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VARIFLEX, INC.
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Name of Issuer
Common Stock
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Title of Class of Securities
922242 10 2
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CUSIP Number
Check the following space if a fee is being paid with this
statement . (A fee is not required if the filing person:
--
(1) has a previous statement on file reporting beneficial
ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership
of five percent or less of such class.) (see Rule 13d-7).
* 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).
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CUSIP NO. 922242 10 2 Page 2 of 5
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1. Name of Reporting Person Social Security Number
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Raymond H. Losi
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2. Check the Appropriate Box if a Member of a Group*
a.
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b.
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3. SEC Use Only
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4. Citizenship or Place of Organization
United States Citizen
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Number of Shares 5. Sole Voting Power
Beneficially Owned 246,575
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by Each Reporting 6. Shared Voting Power
Person With 804,000
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7. Sole Dispositive Power
246,575
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8. Shared Dispositive Power
804,000
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9. Aggregate Amount Beneficially Owned By Each Reporting
Person
1,050,575
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10. Check if the Aggregate Amount in Row 9 Excludes Certain
Shares*
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11. Percent of Class Represented by Amount in Row 9
17.44%
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12. Type of Reporting Person*
IN
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* See Instructions.
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SCHEDULE 13G
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ITEM 1(A). NAME OF ISSUER:
VARIFLEX, INC.
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE
OFFICES:
c/o Variflex, Inc.
5152 N. Commerce Avenue
Moorpark, California 93021
ITEM 2(A). NAME OF PERSON FILING:
Raymond H. Losi
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
c/o Variflex, Inc.
5152 N. Commerce Avenue
Moorpark, California 93021
ITEM 2(C). CITIZENSHIP:
United States Citizen
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock
ITEM 2(E). CUSIP NUMBERS:
922242 10 2
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES
13D-1(B), OR 13D-2(B), CHECK WHETHER THE
PERSON IS FILING A:
n/a
ITEM 4. OWNERSHIP:
(a) Amount Beneficially Owned:
1,050,575
(b) Percent of Class:
17.44%
(c) Number of shares as to which such person
has:
(i) sole power to vote or to direct
the vote:
246,575
(ii) shared power to vote or direct
the vote:
804,000
(iii) sole power to dispose or to
direct the disposition of:
246,575
(iv) shared power to dispose or to
direct the disposition of:
804,000
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
n/a
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
ANOTHER PERSON:
n/a
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE
SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING
REPORTED ON BY THE PARENT HOLDING COMPANY:
n/a
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF
THE GROUP:
n/a
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
n/a
ITEM 10. CERTIFICATION:
n/a
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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: February 10, 1997
Signature: /s/Raymond H. Losi
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Name/Title: Chief Executive Officer
and Chairman
