gvp_sc13ga.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Amendment No. 1
SCHEDULE 13G
Under the Securities Exchange Act of 1934
 
GSE Systems, Inc
(Name of Issuer)
 
Common Stock, par value $.01
(Title of Class of Securities)
 
36191X100
(CUSIP Number)
 
December 3, 2014
(Date of Event Which Requires Filing of this Statement)
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
o Rule 13d-1(b)
 
x Rule 13d-1(c)
 
o 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).
 
 
 
 
 
Explanatory Note
 
Amendment No. 1 is being filed to correct the number of shares owned from 1,052,000 to 830,000. The decrease in the amount of shares is due to a mathematical error. No shares were sold.
 
 
2
 
 
CUSIP NO. 036191X100
 
 
 
1
NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
 
Gottlieb Jay
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
 
 (a) o (b) ¨
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
830,000
6
SHARED VOTING POWER
 
-0-
7
SOLE DISPOSITIVE POWER
 
830,000
8
SHARED DISPOSITIVE POWER
 
-0-
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
830,000*
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
4.64%
12
TYPE OF REPORTING PERSON
 
IN
 
FOOTNOTES * ( includes 130,000 in childrens’ trusts)
 
 
3
 
 
Item 1.

 
(a)
Name of Issuer
 
 
GSE Systems, Inc.

 
(b)
Address of Issuer’s Principal Executive Offices
 
  
1332 Londontown Blvd., Suite 200
Sykesville, Maryland 21784

Item 2.

 
(a)
Name of Person Filing
 
 
Jay Gottlieb

 
(b)
Address of Principal Business Office or, if none, Residence
 
 
27 Misty Brook Lane
New Fairfield, CT 06812

 
(c)
Citizenship
 
 
USA

 
(d)
Title of Class of Securities
 
 
Common Stock

 
(e)
CUSIP Number
 
 
036191X100
 
Item 3.
If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

 
(a)
o
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

 
(b)
o
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

 
(c)
o
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. o78c).

 
(d)
o
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).

 
(e)
o
An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

 
(f)
o
An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

 
(g)
o
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

 
(h)
o
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

 
(i)
o
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

 
(j)
o
Group, in accordance with §240.13d-1(b)(1)(ii)(J).
 
 
4
 
 
Item 4.
Ownership.
   
  Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
 
 
(a)
Amount beneficially owned:  830,000 *includes 130,000 in childrens’ trusts
 
 
(b)
Percent of class: 4.64%
 
 
(c)
Number of shares as to which the person has: 830,000
 
 
(i)
Sole power to vote or to direct the vote: 830,000
 
 
(ii)
Shared power to vote or to direct the vote: -0-
 
 
(iii)
Sole power to dispose or to direct the disposition of: 830,000
 
 
(iv)
Shared power to dispose or to direct the disposition of: -0-
 
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 ¨.
 
Item 6.
Ownership of More than Five Percent on Behalf of Another Person.
 
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
 
Item 8.
Identification and Classification of Members of the Group
 
Item 9.
Notice of Dissolution of Group
 
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 that purpose or effect.
 
 
5
 
 
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: December 3, 2014
By:
/s/ Jay Gottlieb
 
 
 
Name: Jay Gottlieb
 
 
Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)
 
 
6