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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
(RULE 13D-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13D-1(B) AND
(C)
AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(b)
(AMENDMENT NO. ________)(1)
PHOTOELECTRON CORPORATION
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
Title of Class of Securities
719320103
(CUSIP Number)
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(1) 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 purposes of Section 18 of the Securities Exchange
Act of 1934 (the "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 1 of 6 pages
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CUSIP NO. 719320103 13G PAGE 2 OF 6 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PYC Corporation
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
Greece
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SOLE VOTING POWER
5
NUMBER OF 2,310,402
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,417,334
OWNED BY
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EACH SOLE DISPOSITIVE POWER
7
REPORTING 2,310,402
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,417,334
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,727,736
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES* [_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
50.6%
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TYPE OF REPORTING PERSON*
12
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 6 pages
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CUSIP NO. 719320103 13G PAGE 3 OF 6 PAGES
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ITEM 1. (A) NAME OF ISSUER:
Photoelectron Corporation
(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
5 Forbes Road, Lexington, MA 02173
ITEM 2. (a) Name of Person Filing:
See Item 1 of the second part of the cover page.
(b) Address of Principal Business or, if none, Residence:
c/o Aegeus Shipping Co., Ltd.
TANPY Building
17-19 Akti Miaouli
Piraeus, Greece
(c) Citizenship:
See Item 4 of the second part of the cover page.
(d) Title of Class of Securities:
Common Stock, par value $.01 per share.
(e) CUSIP Number:
719320103
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B),
CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act,
Page 3 of 6 pages
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CUSIP NO. 719320103 13G PAGE 4 OF 6 PAGES
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(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act,
(e) [ ] Investment Advisor registered under Section 203 of the
Investment Advisors Act of 1940,
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund;
see 13d-1(b)(1)(ii)(F),
(g) [ ] Parent Holding Company, in accordance with
Rule 13d-1(b)(ii)(G); see Item 7,
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
Item 4. (a) Amount Beneficially Owned:
See Item 9 of the second part of the cover page.
(b) Percent of Class:
See Item 11 of the second part of the cover page.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
See Item 5 of the second part of the cover page.
(ii) shared power to vote or to direct the vote:
See Item 6 of the second part of the cover page.
(iii) sole power to dispose or to direct the disposition
of:
See Item 7 of the second part of the cover page.
(iv) shared power to dispose or to direct the
disposition of:
See Item 8 of the second part of the cover page.
Item 5. Ownership of Five Percent or Less of a Class
Not applicable
Page 4 of 6 pages
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CUSIP NO. 719320103 13G PAGE 5 OF 6 PAGES
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ITEM 6. Ownership of More than Five Percent on Behalf of Another Person.
PYC Corporation has granted investment power and the authority to
vote 1,417,334 shares issuable upon conversion of outstanding
warrants owned by PYC Corporation.
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. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purpose or effect.
Page 5 of 6 pages
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CUSIP NO. 719320103 13G PAGE 6 OF 6 PAGES
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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.
February 22, 1998
PYC CORPORATION
By: /s/ Peter M. Nomikos
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Peter M. Nomikos
Its: President
Page 6 of 6 pages
