-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FrNTY+SbfJN+aJIj84lt4O3U9yuqmTwmSMSYaIMwJmqlLE7PEGYUzeQJEIXpFlrW 9Y24I3dXT4kKjL2m1dd6NQ== 0000932799-98-000053.txt : 19980422 0000932799-98-000053.hdr.sgml : 19980422 ACCESSION NUMBER: 0000932799-98-000053 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980421 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: EP MEDSYSTEMS INC CENTRAL INDEX KEY: 0001012394 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 223212190 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-48865 FILM NUMBER: 98598004 BUSINESS ADDRESS: STREET 1: 100 STIERLI COURT STREET 2: SUITE 107 CITY: MOUNT ARLINGTON STATE: NJ ZIP: 07856 BUSINESS PHONE: 9733982800 MAIL ADDRESS: STREET 1: 58 ROUTE 46 WEST CITY: BUDD LAKE STATE: NJ ZIP: 07828 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SC FUNDAMENTAL INC CENTRAL INDEX KEY: 0000919094 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 133563937 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 712 5TH AVE 19TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2129573500 MAIL ADDRESS: STREET 1: 712 5TH AVENUE 19TH FL STREET 2: 712 5TH AVENUE 19TH FL CITY: NEW YORK STATE: NY ZIP: 10019 SC 13G 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No.) EP MEDSYSTEMS, INC. --------------------- (Name of Issuer) Common Stock, Par Value $.001 ---------------------------------------------------- (Title of Class of Securities) 26881P103 ------------------------ (CUSIP Number) 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) The information required in 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 to 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). SCHEDULE 13G - ------------------- ----------------- CUSIP No. 26881P103 Page 2 of 19 Pages - ------------------- ------------------ =========================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The SC Fundamental Value Fund, L.P. - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] - --------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - --------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 - --------------------------------------------------------------------------- 6 SHARED VOTING POWER 376,800 - --------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 - --------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 376,800 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 376,800 - --------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - --------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.8% - --------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN =========================================================================== SCHEDULE 13G - ------------------- ----------------- CUSIP No. 26881P103 Page 3 of 19 Pages - ------------------- ------------------ =========================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental Value BVI, Ltd. - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - --------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands - --------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - --------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 - --------------------------------------------------------------------------- 6 SHARED VOTING POWER 373,200 - --------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 - --------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 373,200 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 373,200 - --------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - --------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.8% - --------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* CO =========================================================================== SCHEDULE 13G - ------------------- -------------------- CUSIP No. 26881P103 Page 4 of 19 Pages - ------------------- -------------------- =========================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental Inc. - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - --------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 - --------------------------------------------------------------------------- 6 SHARED VOTING POWER 376,800 - --------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 - --------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 376,800 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 376,800 - --------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - --------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.8% - --------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* CO =========================================================================== SCHEDULE 13G - ------------------- ------------------ CUSIP No. 26881P103 Page 5 of 19 Pages - ------------------- ------------------ =========================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental Value BVI, Inc. - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - --------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - --------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 - --------------------------------------------------------------------------- 6 SHARED VOTING POWER 373,200 - --------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 - --------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 373,200 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 373,200 - --------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - --------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.8% - --------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* CO =========================================================================== SCHEDULE 13G - ------------------- ------------------ CUSIP No. 26881P103 Page 6 of 19 Pages - ------------------- ------------------ =========================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental, LLC - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - --------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION New York - --------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - --------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 - --------------------------------------------------------------------------- 6 SHARED VOTING POWER 376,800 - --------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 - --------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 376,800 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 376,800 - --------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - --------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.8% - --------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO =========================================================================== SCHEDULE 13G - ------------------- ------------------ CUSIP No. 26881P103 Page 7 of 19 Pages - ------------------- ------------------ =========================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC-BVI Partners - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - --------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - --------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 - --------------------------------------------------------------------------- 6 SHARED VOTING POWER 373,200 - --------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 - --------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 373,200 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 373,200 - --------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - --------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.8% - --------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN =========================================================================== SCHEDULE 13G - ------------------- ------------------ CUSIP No. 26881P103 Page 8 of 19 Pages - ------------------- ------------------ =========================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Gary N. Siegler - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - --------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - --------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - --------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 - --------------------------------------------------------------------------- 6 SHARED VOTING POWER 750,000 - --------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 - --------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 750,000 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 750,000 - --------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - --------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.6% - --------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN =========================================================================== SCHEDULE 13G - ------------------- ------------------ CUSIP No. 26881P103 Page 9 of 19 Pages - ------------------- ------------------ =========================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Peter M. Collery - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - --------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - --------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - --------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 - --------------------------------------------------------------------------- 6 SHARED VOTING POWER 750,000 - --------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 - --------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 750,000 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 750,000 - --------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - --------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.6% - --------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN =========================================================================== SCHEDULE 13G - ------------------- ------------------- CUSIP No. 26881P103 Page 10 of 19 Pages - ------------------- ------------------- =========================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Neil H. Koffler - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - --------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - --------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - --------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 - --------------------------------------------------------------------------- 6 SHARED VOTING POWER 750,000 - --------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 - --------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 750,000 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 750,000 - --------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - --------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.6% - --------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN =========================================================================== SCHEDULE 13G - ------------------- ------------------- CUSIP No. 26881P103 Page 11 of 19 Pages - ------------------- ------------------- =========================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Curtis G. Macnguyen - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - --------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - --------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - --------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 - --------------------------------------------------------------------------- 6 SHARED VOTING POWER 750,000 - --------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 - --------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 750,000 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 750,000 - --------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - --------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.6% - --------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN =========================================================================== Page 12 of 19 Pages SCHEDULE 13G Item 1. (a) Name of Issuer: EP Medsystems, Inc. (b) Address of Issuer's Principal Executive Office: 100 Stierli Court Suite 107 Mount Arlington, NJ 07856 Item 2. Name of Person Filing (a) Name of Person Filing: The SC Fundamental Value Fund, L.P. ("Fund") SC Fundamental Value BVI, Ltd. ("BVI Fund") SC Fundamental Inc. ("SC") SC Fundamental Value BVI, Inc. ("BVI Inc.") SC Fundamental, LLC ("SCFLLC") SC-BVI Partners Gary Siegler ("Siegler") Peter M. Collery ("Collery") Neil H. Koffler ("Koffler") Curtis G. Macnguyen ("Macnguyen") (b) Address of Principal Office: 10 East 50th Street New York, New York 10022 (c) Citizenship/Organization: Fund - Delaware BVI Fund - British Virgin Islands SC - Delaware BVI Inc. - Delaware SCFLLC - New York SC-BVI Partners - Delaware Siegler - United States Collery - United States Koffler - United States Macnguyen - United States Page 13 of 19 Pages (d) Title Class of Securities: Common Stock, Par Value $.001 (e) CUSIP Number: 26881P103 Item 3. If this Statement is filed pursuant to Rule 240.13(d)-1(b or 240.13d-2(b) or (c), check whether the person filing is a: If this Statement is filed pursuant to Rule 240.13(d)-1(c), check this box [x]. Item 4. Ownership. I. Fund, SCFLLC and SC (a) Amount Beneficially Owned: Fund, SCFLLC and SC SCFLLC, as the general partner of Fund, and SC, as the corporate member and manager of SCFLLC, may be deemed to share with Fund the power to vote or direct the vote and to dispose or to direct the disposition of the 376,800 shares of Common Stock of which Fund is the direct beneficial owner. (b) Percent of Class: 3.8% (c) Number of Shares to Which Such Person Has: (i) Sole voting power - 0 (ii) Shared voting power - 376,800 (iii) Sole dispositive power - 0 (iv) Shared dispositive power - 376,800 II. BVI Fund, BVI Inc. and SC-BVI Partners (a) Amount Beneficially Owned: BVI Fund, BVI Inc. and SC-BVI Partners BVI Inc., as the managing general partner of SC-BVI Partners, and SC-BVI Partners, as the investment manager of BVI Fund, may be deemed to share with BVI Fund the power to vote or direct the vote and to dispose or direct the disposition of the 373,200 shares of Common Stock of which BVI Fund is the direct beneficial owner. (b) Percent of Class: 3.8% Page 14 of 19 Pages (c) Number of Shares to Which Such Person Has: (i) Sole voting power - 0 (ii) Shared voting power - 373,200 (iii) Sole dispositive power - 0 (iv) Shared dispositive power - 373,200 III. Siegler, Collery, Koffler and Macnguyen (a) Amount Beneficially Owned: Siegler, Collery, Koffler and Macnguyen Siegler and Collery, by virtue of their status as principal members of SCFLLC, the general partner of Fund, and as the controlling stockholders, directors and executive officers of SC, the corporate member and manager of SCFLLC, may be deemed to share with Fund, SCFLLC and SC the power to vote or direct the vote and to dispose or to direct the disposition of the 376,800 shares of Common Stock of which Fund is the direct beneficial owner. Koffler and Macnguyen, by virtue of their status as employee members of SCFLLC, the general partner of Fund, may be deemed to share with Fund and SCFLLC the power to vote or direct the vote and to dispose or to direct the disposition of the 376,800 shares of Common Stock of which Fund is the direct beneficial owner. Siegler and Collery, by virtue of their status as controlling stockholders, directors and executive officers of BVI Inc., the managing general partner of SC-BVI Partners, which is the investment manager of BVI Fund, may be deemed to share with BVI Inc., SC-BVI Partners and BVI Fund the power to vote or direct the vote and to dispose or direct the disposition of the 373,200 shares of Common Stock of which BVI Fund is the direct beneficial owner. Koffler and Macnguyen, by virtue of their status as executive officers of BVI Inc., the managing general partner of SC-BVI Partners, which is the investment manager of BVI Fund, may be deemed to share with BVI Inc., SC-BVI Partners and BVI Fund the power to vote or direct the vote and to dispose or direct the disposition of the 373,200 shares of Common Stock of which BVI Fund is the direct beneficial owner. (b) Percent of Class: 7.6% (c) Number of Shares to Which Such Person Has: (i) Sole voting power - 0 (ii) Shared voting power - 750,000 (iii) Sole dispositive power - 0 (iv) Shared dispositive power - 750,000 Page 15 of 19 Pages 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 Members of the Subsidiary Which Acquired the Securities 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 having such purposes or effect. 117425 Page 16 of 19 Pages Signature: After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Date: April 20, 1998 THE SC FUNDAMENTAL VALUE FUND, L.P. By: SC FUNDAMENTAL, LLC., as General Partner /s/ Peter M. Collery By: Neil H. Koffler, as Attorney-in-Fact for Peter M. Collery, Vice President (1) SC FUNDAMENTAL VALUE BVI, LTD. BY: SC FUNDAMENTAL VALUE BVI, INC., as Managing General Partner of Investment Manager /s/ Peter M. Collery By: Neil H. Koffler, as Attorney-in-Fact for Peter M. Collery, Vice President (1) SC FUNDAMENTAL INC. BY: /s/ Peter M. Collery Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President (1) SC FUNDAMENTAL VALUE BVI, INC. BY: /s/ Peter M. Collery Neil H. Koffler as Attorney- in-Fact for Peter M. Collery, Vice President (1) Page 17 of 19 Pages SC FUNDAMENTAL, LLC BY: SC FUNDAMENTAL INC., AS MANAGER BY: /s/ Peter M. Collery Neil H. Koffler as Attorney- in-Fact for Peter M. Collery, Vice President (1) SC-BVI PARTNERS BY: SC FUNDAMENTAL VALUE BVI, INC., AS MANAGING GENERAL PARTNER BY: /s/ Peter M. Collery Neil H. Koffler as Attorney- in-Fact for Peter M. Collery, Vice President (1) /s/ Gary Siegler Neil H. Koffler as Attorney- in-Fact for Gary Siegler /s/ Peter M. Collery Neil H. Koffler as Attorney- in-Fact for Peter M. Collery /s/ Neil H. Koffler Neil H. Koffler /s/ Curtis G. Macnguyen Curtis G. Macnguyen Page 18 of 19 Pages Exhibit A JOINT FILING AGREEMENT In accordance with Rule 13d-1(c) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the Common Stock, par value $.001 per share, of EP Medsystems, Inc. and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filing. In evidence thereof, the undersigned, hereby execute this Agreement this 20th day of April, 1998. Dated: April 20, 1998 THE SC FUNDAMENTAL VALUE FUND, L.P. By: SC FUNDAMENTAL, LLC., as General Partner /s/ Peter M. Collery By: Neil H. Koffler, as Attorney-in-Fact for Peter M. Collery, Vice President (1) SC FUNDAMENTAL VALUE BVI, LTD. BY: SC FUNDAMENTAL VALUE BVI, INC., as Managing General Partner of Investment Manager /s/ Peter M. Collery By: Neil H. Koffler, as Attorney-in-Fact for Peter M. Collery, Vice President (1) SC FUNDAMENTAL INC. BY: /s/ Peter M. Collery Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President (1) Page 19 of 19 Pages SC FUNDAMENTAL VALUE BVI, INC. BY: /s/ Peter M. Collery Neil H. Koffler as Attorney- in-Fact for Peter M. Collery, Vice President (1) SC FUNDAMENTAL, LLC BY: SC FUNDAMENTAL INC., as Manager BY: /s/ Peter M. Collery Neil H. Koffler as Attorney- in-Fact for Peter M. Collery, Vice President (1) SC-BVI PARTNERS BY: SC FUNDAMENTAL VALUE BVI, INC., As Managing General Partner BY: /s/ Peter M. Collery Neil H. Koffler as Attorney- in-Fact for Peter M. Collery, Vice President (1) /s/ Gary Siegler Neil H. Koffler as Attorney- in-Fact for Gary Siegler /s/ Peter M. Collery Neil H. Koffler as Attorney- in-Fact for Peter M. Collery /s/ Neil H. Koffler Neil H. Koffler /s/ Curtis G. Macnguyen Curtis G. Macnguyen (1) Executed by Neil H. Koffler as Attorney-in-Fact for Peter M. Collery and Gary N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler were filed as Exhibit A to Amendment No. 5 to the Schedule 13D relating to the US Facilities Corporation on August 4, 1995 and are hereby incorporated herein by reference. 117425 -----END PRIVACY-ENHANCED MESSAGE-----