SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
Information to be included in Statements filed
pursuant to Rule 13d-1(b), (c) AND (d)
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Paradigm Medical Industries, Inc.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
69900Q108
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(CUSIP Number)
September 2, 2003
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(Date of event which requires filing of this Statement)
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)
(Continued on following pages)
(Page 1 of 10 Pages)
Page 2 of 10
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Crescent International Ltd.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [x]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION:
Bermuda
------------------------- ---- ------------------------------------------------------------------------------
NUMBER OF SHARES 5. SOLE VOTING POWER
BENEFICIALLY OWNED BY 1,687,443
EACH REPORTING PERSON
WITH
------------------------- ---- ------------------------------------------------------------------------------
6. SHARED VOTING POWER
None.
------------------------- ---- ------------------------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
1,687,443
------------------------- ---- ------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
None.
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,687,443
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.75%
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12. TYPE OF REPORTING PERSON:
OO
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Page 3 of 10
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DMI Trust
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [x]
------- -----------------------------------------------------------------------------------------------------
3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION:
Bahamas
------------------------- ---- ------------------------------------------------------------------------------
NUMBER OF SHARES 5. SOLE VOTING POWER
BENEFICIALLY OWNED BY 1,687,443
EACH REPORTING PERSON
WITH
------------------------- ---- ------------------------------------------------------------------------------
6. SHARED VOTING POWER
None.
------------------------- ---- ------------------------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
1,687,443
------------------------- ---- ------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
None.
-------- ----------------------------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,687,443
-------- ----------------------------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
-------- ----------------------------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.75%
-------- ----------------------------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON:
OO
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Page 4 of 10
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GreenLight (Switzerland) SA
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [x]
------- -----------------------------------------------------------------------------------------------------
3. SEC USE ONLY
------- -----------------------------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION:
Switzerland
------------------------- ---- ------------------------------------------------------------------------------
NUMBER OF SHARES 5. SOLE VOTING POWER
BENEFICIALLY OWNED BY 1,687,443
EACH REPORTING PERSON
WITH
------------------------- ---- ------------------------------------------------------------------------------
6. SHARED VOTING POWER
None.
------------------------- ---- ------------------------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
1,687,443
------------------------- ---- ------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
None.
-------- ----------------------------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,687,443
-------- ----------------------------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
-------- ----------------------------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.75%
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12. TYPE OF REPORTING PERSON:
OO
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Item 1(a). Name of Issuer.
Paradigm Medical Industries, Inc. ("PMED")
Item 1(b). Address of Issuer's Principal Executive Offices.
2355 South 1070 West
Salt Lake City, UT 84119
Item 2(a). Names of Person Filing.
(i) Crescent International Limited ("Crescent")
(ii) DMI Trust ("DMI")
(iii) GreenLight (Switzerland) SA ("GreenLight")
Item 2(b). Address of Principal Business Office, or if none, Residence.
As to Crescent:
Clarendon House
2 Church Street
Hamilton H 11
Bermuda
As to DMI:
Norfolk House
P.O. Box N-7139
Bahamas
As to GreenLight:
84, av. Louis Casai
CH-1216 Cointrin, Geneva
Switzerland
Item 2(c). Citizenship.
As to Crescent: Bermuda
As to DMI: Bahamas
As to GreenLight: Switzerland
Item 2(d). Title of Class of Securities.
Common Stock, $.001 par value.
Item 2(e). CUSIP Number.
69900Q108
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or
13d-2(b), check whether the person filing is a:
Not applicable.
Item 4. Ownership.
The information contained in Items 5 though 11 on the cover
pages hereto is incorporated herein by reference. The
1,687,443 shares of Common Stock beneficially owned by
Crescent includes 294,118 shares of Common Stock which
Crescent has the current right to purchase pursuant to a
warrant held by Crescent.
DMI may be deemed to be a beneficial owner of the shares of
Common Stock of PMED beneficially owned by Crescent by reason
of the ownership by DMI of 100 percent of the capital stock of
Crescent.
GreenLight serves as principal investment manager to Crescent,
and as such has been granted investment discretion over
investments including the PMED Common Stock. As a result of
its role as investment manager to Crescent, GreenLight may be
deemed to be the beneficial owner, as defined in Rule 13d-3
under the Act, of PMED Common Stock held by Crescent. However,
GreenLight does not have the right to receive any dividends
from, or the proceeds from the sale of, the PMED Common Stock
held by Crescent and disclaims any ownership associated with
such rights.
Accordingly, for the purposes of this Statement:
(i) Crescent is reporting that it has the power solely
to vote or direct the vote and the power to
dispose or direct the disposition of, the total of
1,687,443 shares of Common Stock beneficially
owned by it;
(ii) DMI is reporting that it shares the power to vote
or direct the vote and the power to dispose or
direct the disposition of, the total of 1,687,443
shares of Common Stock beneficially owned by it;
and
(iii) GreenLight is reporting that it shares the power
solely to vote or direct the vote and the power to
dispose or direct the disposition of, the total of
1,687,443 shares of Common Stock beneficially
owned by it.
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 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
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 which
could have that purpose or effect.
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 5, 2004
CRESCENT INTERNATIONAL LIMITED
By: GreenLight (Switzerland) SA, as Attorney-in-Fact
By: /s/ Mel Craw
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Name: Mel Craw
Title: Authorized Signatory
By: /s/ Maxi Brezzi
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Name: Maxi Brezzi
Title: Authorized Signatory
DMI TRUST
By: GreenLight (Switzerland) SA, as Attorney-in-Fact
By: /s/ Mel Craw
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Name: Mel Craw
Title: Authorized Signatory
By: /s/ Maxi Brezzi
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Name: Maxi Brezzi
Title: Authorized Signatory
GREENLIGHT (SWITZERLAND) SA
By: /s/ Mel Craw
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Name: Mel Craw
Title: Managing Director
By: /s/ Maxi Brezzi
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Name: Maxi Brezzi
Title: Director
Exhibit Index
99.1 Agreement of Joint Filing - Filed herewith
99.2 Power of Attorney - Filed herewith
99.3 Power of Attorney - Filed herewith