4 1 r4-hmd0502.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ( ) Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instructions 1(b). 1. Name and Address of Reporting Person HOMI M. DAVIER 6654 SOUTHWEST FREEWAY HOUSTON, TX 77074 2. Issuer Name and Ticker or Trading Symbol BALTIC INTERNATIONAL USA, INC. BISA 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Statement for Month/Year May 2002 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other (specify below) 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 |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect | | Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership | | | | | Beneficially |(D)or | | | | | | | A/| | Owned at |Indir | | | Date |Code|V| Amount | D | Price | End of Month |ect(I)| | ___________________________________________________________________________________________________________________________________| | | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1.Title of |2.Con- |3. |4. |5.Number of |6.Date Exer |7.Title and Amount |8.Price|9.Number of |10.|11.Nature of| Derivative |version |Transaction | Derivative |cisable and | of Underlying |of Deri| Derivative |Dir| Indirect | Security |or | | | Securities |Expiration | Securities |vative | Securities |ect| Beneficial | |Exercise| | | Acquired(A) or|Date(Month/ | |Secu | Benefi |(D)| Ownership | |Price of| | | Disposed of(D)|Day/Year) | |rity | ficially |or | | |Deriva- | | | |Date |Expir | | | Owned at |Ind| | |tive | | | | A/|Exer- |ation | Title and Number | | End of |ire| | |Secu- | | | | | D |cisable |Date | of Shares | | Month |ct | | |rity | Date |Code|V| Amount | | | | | | |(I)| | ___________________________________________________________________________________________________________________________________| ~~Options~~Warrants |$01.~~8125~~1875 |125/191/0102 | H | | ~~5000~~6750 | D | |125/191/0102 |Common stock|~~5000~~6750 | | ~~25000~~0 | D | | -----------------------------------------------------------------------------------------------------------------------------------| ~~Options~~Warrants |$0.129063 |125/191/0102 | TH | | ~~5000~~6750 | AD |~~12/19/01~~ |125/191/0602 |Common stock|~~5000~~6750 | (| 0 | D | | -----------------------------------------------------------------------------------------------------------------------------------| Warrants |$0.8438 |5/1)/02 | ~~25000~~H | | 6750 | D | |5/1/02 |Common stock|6750 | | 0 | D | | -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________|

Explanation of Responses: /s/David A. Grossman, Attorney-in-Fact June 7, 2002 ----------------------------------------- ----------------------- SIGNATURE OF REPORTING PERSON DATE

Filing Compare · DAVIER HOMI M