-----------------------------
OMB Number 3235-0104
Expires: December 31, 2001
Estimated average burden
hours per response ....... 0.5
------------------------------
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of
1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
======================================================================
1. Name and Address of Reporting Person
Infinity Investors Limited
- ----------------------------------------------------------------------
(Last) (First) (Middle)
Hunkins Waterfront Plaza, Main Street, P.O. Box 556
- ----------------------------------------------------------------------
(Street)
Charlestown, Nevis, West Indies
- ----------------------------------------------------------------------
(City) (State) (Zip)
======================================================================
2. Date of Event Requiring Statement (Month/Day/Year)
08/30/99
======================================================================
3. IRS Identification Number of Reporting Person,
if an entity (voluntary)
======================================================================
4. Issuer Name and Ticker or Trading Symbol
Visual Edge Systems, Inc. (EDGE)
======================================================================
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
=====================================================================
6. If Amendment, Date of Original (Month/Day/Year)
N/A
=====================================================================
7. Individual or Joint/Group Filing (Check Applicable Line)
[ X ] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
======================================================================
- -----------------------------------------------------------------------
<TABLE>
<CAPTION>
=================================================================================================================================
Table I -- Non-Derivative Securities Beneficially Owned
=================================================================================================================================
2. 3.
1. Amount of Securities Ownership Form
Title of Security Beneficially Owned Direct (D) or 4.
(Instr. 4) (Instr. 4) Indirect (I) Nature of Indirect Beneficial Ownership
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Common Stock 9,775,553(1) D
- ---------------------------------------------------------------------------------------------------------------------------------
Common Stock 117,842(2) D
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
(1) These securities are owned solely by Infinity Investors Limited, which may deemed to be a member of a "group" with
IEO Holdings Limited, Glacier Capital Limited and Summit Capital Limited for purposes of Section 13(d) of the Exchange Act.
- ---------------------------------------------------------------------------------------------------------------------------------
(2) These securities are owned solely by IEO Holdings Limited, Glacier Capital Limited and Summit Capital Limited.
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
=================================================================================================================================
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, See Instruction
5(b)(v).
</TABLE>
<PAGE>
FORM 3 (continued)
<TABLE>
<CAPTION>
Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants,
options, convertible securities)
====================================================================================================================================
3.
Title and Amount
2. of Securities
Date Exercisable and Underlying 5.
Expiration Date Derivative Security 4. Ownership
(Month/Day/Year) (Instr. 4) Conversion Form of 6.
1. -------------------- ------------------- or Exercise Derivative Nature
Title of Date Expira- Amount or Price of Security: of Indirect
Derivative Security Exer- tion Number of Derivative Direct (D) Beneficial
(Instr. 4) cisable Date Title Shares Security or Indirect (I) Ownership
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Series A-2 Convertible
Preferred Stock 12/29/98 N/A Common 2,773(1) (3) D
Stock
- ---------------------------------------------------------------------------------------------------------------------------------
Series A-2 Convertible
Preferred Stock 12/29/98 N/A Common 1,600(2) (3) D
Stock
- ---------------------------------------------------------------------------------------------------------------------------------
8.25% Convertible Notes 6/13/97 6/13/00 Common $1,100,000(1) (3) D
Stock
- ---------------------------------------------------------------------------------------------------------------------------------
1.25% Convertible Notes 6/13/97 6/13/00 Common $ 400,000(2) (3) D
Stock
- ---------------------------------------------------------------------------------------------------------------------------------
(1) These securities are owned by Infinity Investors Limited, which may be deemed to be a member of a "group" with IEO Holdings
Limited, Glacier Capital Limited and Summit Capital Limited for purposes of Section 13(d) of the Exchange Act.
- ---------------------------------------------------------------------------------------------------------------------------------
(2) These securities are owned by Glacier Capital Limited and Summit Capital Limited.
- ---------------------------------------------------------------------------------------------------------------------------------
(3) The number of shares of common stock available upon conversion of these securities is indeterminable, as such calculation
is based on a floating market price. In addition, as of August 30, 1999, the Issuer had no additional authorized shares of
common stock, thereby leaving no shares available to be issued upon any such conversion unless and until the Issuer's
charter is amended.
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
=================================================================================================================================
</TABLE>
Explanation of Responses:
Infinity Investors Limited
By: /s/ STUART CHASANOFF September 9, 1999
------------------------------------ ------------------
As Attorney-in-Fact pursuant to the Date
Power of Attorney attached herewith
as Attachment A
**Signature of Reporting Person
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually
signed. If space provided is insufficient, see Instruction 6
for procedures.
<PAGE>
ATTACHMENT A
------------
POWER OF ATTORNEY AND
APPOINTMENT OF REPRESENTATIVE
To facilitate the expeditious administration of the business
of INFINITY INVESTORS LIMITED, IEO HOLDINGS LIMITED, GLACIER
CAPITAL LIMITED and SUMMIT CAPITAL LIMITED (collectively the
"Funds") the undersigned hereby irrevocably designate and appoint
STUART CHASANOFF and BARRETT WISSMAN, and each of them, as their
agents and true and lawful attorney to make, sign, execute, swear
to and acknowledge, amend, file, record, deliver and publish any
documents and instruments necessary to consummate certain
transactions concerning VISUAL EDGE SYSTEMS, INC. including,
without limitation, that certain Voting Agreement between
Infinity Investors Limited and Marion Interglobal, Ltd., any
instruments or documents required to be registered or filed with
the Securities and Exchange Commission, and/or the State of
Delaware, and any and all documents concerning the ownership,
management, voting or disposition concerning the securities of
the Company held by the Funds.
The existence of this Power of Attorney shall not preclude
execution of any such instrument by the undersigned on any such
matter. This Power of Attorney shall not be revoked and is
coupled with an interest.
Any person dealing with the undersigned may conclusively
presume and rely upon the fact that any such instrument executed
by such agent and attorney-in-fact is authorized, regular and
binding without further inquiry.
DATED July 30, 1999.
INFINITY INVESTORS LIMITED
By: /s/ J.A. LOUGHRAN
--------------------------
Name: J.A. Loughran
------------------------
Title: Director
------------------------
IEO HOLDINGS LIMITED
By: /s/ SUZANNE SHEEHY
---------------------------
Name: Suzanne Sheehy
-------------------------
Title: Director
------------------------
SUMMIT CAPITAL LIMITED
By: /s/ J.A. LOUGHRAN
--------------------------
Name: J.A. Loughran
-----------------------
Title: Director
----------------------
GLACIER CAPITAL LIMITED
By: /s/ J.A. LOUGHRAN
--------------------------
Name: J.A. Loughran
--------------------------
Title: Director
------------------------
