SC 13G/A 1 blsi13garlgfeb05.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ OMB APPROVAL OMB NUMBER: 3235-0145 Expires: December 31, 2005 Estimated average burden hours per response....11 _____________________________ SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 7 )* BOSTON LIFE SCIENCES, INC. ----------------------------------------------------- (Name of Issuer) COMMON STOCK ----------------------------------------------------- (Title of Class of Securities) 100843408 ----------------------------------------------------- (CUSIP Number) 2/11/05 ----------------------------------------------------- (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) ---------- *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 the disclosures provided in a prior cover page. 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 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). CUSIP No. 100843408 -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON(S) S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S) ROBERT L. GIPSON -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES OF AMERICA -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 576,800 BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER EACH 100,000 (see item 6) REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER WITH 576,800 -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 112,000 (See Item 6) -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 688,800 (See Item 6) -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.6 % (see Item 6) -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* IN -------------------------------------------------------------------------------- Item 1. (a) Name of Issuer: BOSTON LIFE SCIENCES INC. -------------------------------------------------------------- (b) Address of Issuer's Principal Executive Offices: 20 NEWBURY ST BOSTON, MA 02116 -------------------------------------------------------------- Item 2. (a) Name of Person Filing: ROBERT L. GIPSON -------------------------------------------------------------- (b) Address of Principal Business Office, or if None, Residence: C/O INGALLS & SNYDER LLC 61 BROADWAY, NEW YORK, NY 10006 -------------------------------------------------------------- (c) Citizenship: USA -------------------------------------------------------------- (d) Title of Class of Securities: COMMON STOCK -------------------------------------------------------------- (e) CUSIP Number: 100843408 -------------------------------------------------------------- Item 3. Item 4. Ownership. Incorporated by reference to Items (5)-(9) and (11) of the cover page. Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. INAPPLICABLE Item 6. Ownership of More Than Five Percent on Behalf of Another Person. Shares reported under sole voting and sole dispositve authority include common shares owned by Gipson and shares issuable in exchange for 50,000 BLSI warrants which give him the right to a acquire one share per warrant (on a pre-reverse-split basis) at a price of $2.15 until 03/01/07. Shares reported under shared voting and shared dispositve authority include those owned by clients of Ingalls & Snyder LLC, a broker/dealer and a registered investment advisor, in accounts over which Gipson has voting and/or discretionaryinvestment authority. Gipson is a Senior Director of Ingalls & Snyder LLC. All shares reported assume the exercise of all warrants owned by Gipson. Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on By the Parent Holding Company. INAPPLICABLE Item 8. Identification and Classification of Members of the Group. INAPPLICABLE Item 9. Notice of Dissolution of Group. INAPPLICABLE Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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 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: 02/11/05 BY: /s/ ROBERT L. GIPSON ---------------------------------- (Signature)* ROBERT L. GIPSON ---------------------------------- (Name/Title)