SC 13D/A 1 form13da.htm EMERGANT GROUP form13da.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


SCHEDULE 13D/A
Under the Securities Exchange Act of 1934


EMERGENT GROUP INC. 
(Name of Issuer)

Common Stock, $0.04 par value
 (Title of Class of Securities)

29089V-20-3
(CUSIP Number)
 
Steven Morse, Esq., Morse & Morse, PLLC, 1400 Old Country Road,
Suite 302, Westbury, NY 11590 (516-487-1446)
 
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)

July 30, 2008
      (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 Rule 13d-1(b)(3) or (4), check the following box [  ].

Check the following box if a fee is being paid with the statement [  ]. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.)

Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are 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 ("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.:29089V 203   
      
Page 2 
         
 
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Louis Buther
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                                                                                                                                          
(a)  o
    (b)  o
3
SEC USE ONLY
4
SOURCE OF FUNDS*
 
PF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
 7
SOLE VOTING POWER
 
   763,555
 
 8
SHARED VOTING POWER
 
  
 
 9
SOLE DISPOSITIVE POWER
 
   763,555
 
10
SHARED DISPOSITIVE POWER
 
  
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 763,555
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
11.88%*
14
TYPE OF REPORTING PERSON*
 
IN

 
* Based upon 6,390,109 shares outstanding as of August 8, 2008 plus the number of warrant shares beneficially owned by the Reporting Person.

 
 
 
 
         
CUSIP NO.:29089V 203  
      
Page 3
         
 
Item 1.  Security and Issuer

       This statement relates to the shares of Common Stock, of Emergent Group Inc. (the “Issuer”). The Issuer’s principal executive office is located at 10939 Pendleton Street, Sun Valley, CA 91352.

Item 2.  Identity and Background

                (a)      Louis Buther

                (b)      205 Ridgefield Avenue, South Salem, NY 10590.

(c)      Employed by the Issuer as President.

    (d)      Not applicable

                (e)      Not applicable

(f)       U.S.A.
 
Item 3.  Source and Amount of Funds or Other Consideration

 Mr. Buther purchased securities described in Item 5(c) with his own personal funds.

Item 4.  Purpose of Transactions

The Issuer completed an acquisition of certain assets of Photomedex, Inc. On July 30, 2008, the Company completed a private placement of its securities and has raised approximately $1,130,000. Mr. Buther, President of the Issuer, participated in the private placement offering. See Item 5(c). Mr. Buther has no other current plans or proposals which would relate to or would result in the occurrence of (a) – (j),namely,:
 
 
 
 
d.  
Any change in the present board of directors or management of the issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board;
 
 
 
 
         
CUSIP NO.:29089V 203  
      
Page 4
         

 
 



Item 5.  Interest in Securities of the Issuer
 
                (a) - (b) As of August 8, 2008, the Issuer has 6,309,109 shares issued and outstanding. Of the 6,309,109 shares outstanding, Mr. Louis Buther has the sole power to vote and dispose of 728,260 shares and 35,295 warrants totaling 763,555 shares, representing 11.88% of the outstanding shares of the Issuer’s Common Stock.

               (c) On July 30, 2008, Mr. Buther purchased 58,824 shares at a price of $1.70 per share and warrants to purchase 35,295 shares, exercisable at $1.75 per share through July 31, 2013.

               (d) – (e)   Not Applicable
 
Item 6.  Contracts, Arrangements, Understandings or Relationships with Respect to the Securities of the Issuer

Not applicable.

 
 
 
 
 
         
CUSIP NO.:29089V 203  
      
Page 5
         
 
Item 7.  Materials to be filed as Exhibits

 Not applicable.
 
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.
 
Reporting Person: Louis Buther    
       
August 8, 2008
By:
/s/ Louis Buther  
    Louis Buther