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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Digital Video Systems, Inc.
________________________________________________________________________________
(Name of Issuer)
Common Stock
________________________________________________________________________________
(Title of Class of Securities)
25387R100
_______________________________________________________________
(CUSIP Number)
John Smuda, Chief Financial Officer
Digital Video Systems, Inc.
160 Knowles Drive
Los Gatos, CA 95032
(408) 874-8200
________________________________________________________________________________
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
8-11-98
_______________________________________________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of (S)(S)240.13d.1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [_].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See (S)240.13d-7 for other
parties to whom copies are to be sent.
* 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
disclosures provided in a prior cover page.
The information required on 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).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
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CUSIP No. 25387R100
----------
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
Dr. Edmund Y. Sun
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS
See Item 4
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(E)
N/A
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 9,013,162
SHARES -----------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY
-----------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER
REPORTING 9,013,162
PERSON -----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
WITH
0
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,013,162
- ------------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
N/A
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT
37.03%
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------------------------
<PAGE>
Item 1. Security and Issuer.
- ----------------------------
Common Stock
Digital Video Systems, Inc.
Item 2. Identity and Background.
- --------------------------------
(a) Dr. Edmund Y. Sun
(b) 160 Knowles Dr., Los Gatos, CA 95032
(c) Chairman of the Board and Chief Technology Officer of Digital Video
Systems, Inc., 160 Knowles Dr., Los Gatos, CA 95032. Digital Video
Systems develops, manufactures and markets DVD-ROM products, DVD
players, Video CD players, including subassemblies and components,
industrial Video CD products, Video Network products, digital ad
insertion products, and MPEG encoding and authoring products for
entertainment, business and educational uses.
(d) No
(e) No
(f) U.S.A.
Item 3. Source and Amount of Funds or Other Consideration.
- ----------------------------------------------------------
See Item 4
Item 4. Purpose of Transaction.
- -------------------------------
On May 28, 1998, Reporting Person received a 12% Convertible
Secured Note from Issuer in the amount of $500,000 (the "Note") in
connection with a $500,000 loan made be Reporting Person to Issuer.
As a provision of the Note, at the election of Reporting Person,
any or all of the proceeds of the Note and any interest thereon are
convertible on the Conversion Date (as defined therein) into fully
paid and non-assessable shares of the Common Stock (or other traded
securities of Issuer, as the case may be) of Issuer at a conversion
price equivalent to the average closing price of Issuer's stock on
the Nasdaq National Market System for the ten (10) trading days
prior to the Conversion Date of the Note.
On June 23, 1998, Reporting Person signed an irrevocable
subscription agreement (the "Subscription Agreement") whereby
Reporting Person loaned Issuer $500,000 and made an irrevocable
commitment to convert such loan and interest accrued thereon at the
time of conversion into shares of the Common Stock of Issuer at a
conversion price set forth in the Subscription Agreement. On August
11, 1998, Reporting Person acquired a total of 1,331,479 shares of
the Common Stock of Issuer at a price per share of $0.7566 pursuant
to the terms of the Note and the Subscription Agreement.
Consideration for the conversion of the loans, pursuant to the
terms of the Note and the Subscription Agreement, was the
cancellation of Reporting Person's loans in the amount of $1
million and the accrued interest of $7,397 thereon .
<PAGE>
Item 5. Interest in Securities of the Issuer.
- ---------------------------------------------
(a) 9,013,162 37.03%
(b) Sole Voting Power 9,013,162
Shared Voting Power 0
Sole Dispositive Power 9,013,162
Shared Dispositive Power 0
(c) None
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understanding or Relationships with Respect to
- --------------------------------------------------------------------------------
Securities of the Issuer.
------------------------
None
Item 7. Material to be Filed as Exhibits.
- -----------------------------------------
None.
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.
August 27, 1998
- --------------------------------------------------------------------------------
Date
/s/ Edmund Y. Sun
- --------------------------------------------------------------------------------
Signature
Dr. Edmund Y. Sun, Director, Chairman of the Board and Chief Technology Officer
- --------------------------------------------------------------------------------
Name/Title
