FORM 4 [    ]    Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
(Print or Type Responses) UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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(h) of the Investment Company Act of 1940 OMB APPROVAL
OMB Number 3235-0287
Expires: January 31, 2005
Estmated average burden hours per response ... 0.5

1.    Name and address of Reporting Person* Severson, Clinton H.	2.    Issuer Name and ticker or Trading Symbol Abaxis, Inc.    (ABAX)		6.    Relationship of Reporting Person to Issuer (Check all applicable)
(Last)        (First)       (Middle) c/o:    Abaxis, Inc. 3240 Whipple Road      (Street)    Union City, California    94587      (City)        (State)       (Zip)	3.    IRS Identification Number of Reporting Person, if an Entity (Voluntary)	4.    Statement for Month/Day/Year February 27, 2003 5.    If Amendment, Date of Original (Month/Day/Year)	Director            10% Owner X     Officer (give title below)           Other (specify below)    President, Chief Executive Officer 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 I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.    Title of Security   (Instr. 3)	2.    Transaction Date	2A. Deemed Transaction Date, if any	3.    Transac- tion Code   (Instr. 8)		4.    Securities Acquired (A)  or Disposed of (D)   (Instr.3, 4 and 5)			5.    Amount of Securities Beneficially Owned Following Reported	6. Owner- ship Form: Direct	7.    Nature of Indirect Beneficial
	(Month/Day/Year)	(Month/Day/Year)	Code	V	Amount	(A) or (D)	Price	Transnaction(s) (Instr. 3 and 4)	(D) or In- direct (I) (Instr. 4)	Ownership (Instr. 4)
Common Stock	02/27/03		P		400	A	$3.669
Common Stock	02/27/03		P		300	A	$3.67
Common Stock	02/27/03		P		1,300	A	$3.67	123,000

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 4(b)(v).

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1.    Title of Derivative Security   (Instr. 3)

2.  Conver- sion or Exercise Price of Derivative Security

3.    Transaction Date (Month/Day/Year)

3A.    Deemed Execution Date, if any (Month/Day/Year)

4.    Transaction Code   (Instr. 8)

5.    Number of Derivative Securities Acquired (A) or Disposed of (D)   (Instr. 3, 4 and 5)

6.    Date Exercisable and Expiration Date (Month/Day/Year)

7.    Title and Amount of Underlying Securities   (Instr. 3 and 4)

8.    Price of Derivative Security   (Instr. 5)

9.    Number of Derivative Securities Beneficially Owned at End 0f Month   (Instr. 4)

10.  Ownership Form of Derivative Security. Direct (D) or Indirect (I)   (Instr. 4)

11.    Nature of Indirect Beneficial Ownership   (Instr. 4)

Code

V

(A)

(D)

Date Exer- cisable

Expira- tion Date

Title

Amount or Number of Shares

Explanation of Responses:

**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff.(a)     /s/ Clinton Severson    
        Clinton Severson
**Signature of Reporting Person     February 27, 2003    
Date

©    H.J. Meyer Consulting September 1, 2002