UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.        )

USELL.COM, INC.
________________________________________________________________________________

(Name of Issuer)

Common Stock, no par value

________________________________________________________________________________

(Title of Class of Securities)

917296204

_________________________________________________________________________________

(CUSIP Number)

November 16, 2017

_________________________________________________________________________________

(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)

☒  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 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. 917296204

 

(a)    ☒

(b)    ☐

 

 

 

 

 

Notes:

(1)	Calculated based on 28,286,999 shares of common stock outstanding as of November 16, 2017 post the closing of the unregistered sale of equity securities as reported by the Issuer on November 22, 2017.

CUSIP NO. 917296204

 

(a)    ☒

(b)    ☐

 

 

 

Notes:

(2)	Calculated based on 28,286,999 shares of common stock outstanding as of November 16, 2017 post the closing of the unregistered sale of equity securities as reported by the Issuer on November 22, 2017.

CUSIP NO.  917296204

 

(a)    ☒

(b)    ☐

 

 

 

 

Notes:

(3)	Calculated based on 28,286,999 shares of common stock outstanding as of November 16, 2017 post the closing of the unregistered sale of equity securities as reported by the Issuer on November 22, 2017.

Item 1.

(b)          Address of Issuer’s Principal Executive Offices: 171 Madison Avenue, 17^th Floor, New York, NY  10016

Item 2.

(b)           Address of Principal Business Office or, if none, Residence:

(c)           Citizenship:

This Schedule 13G is being filed on behalf of (i) PVAM Perlus Microcap Fund L.P., a limited partnership formed under the laws of Jersey in the Channel Islands; (ii) PVAM Holdings Ltd., a corporation formed under the laws of the United Kingdom; and (iii) Pacific View Asset Management (UK) LLP, a limited liability partnership formed under the laws of the United Kingdom (together, the “Reporting Persons”).

The Reporting Persons have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit A, pursuant to which the Reporting Persons have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended.

The principal business office address of PVAM Perlus Microcap Fund L.P. is Fifth Floor, 37 Esplanade, St. Helier, Jersey, Channel Islands JE1 2TR.

The principal business office address of PVAM Holdings Ltd. is 600 Montgomery Street, 5th Floor, San Francisco, California 94111.

The principal business office address of Pacific View Asset Management (UK) LLP is 5^th Floor 6 St. Andrew, London, United Kingdom EC4A 3AE.

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:

Not Applicable

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

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

(i)           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):

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:  PVAM Perlus Microcap Fund L.P. beneficially owns 4,000,000 shares of common stock of the Issuer

(b)

Percent of Class:  14.14%, calculated based on 28,286,999 shares of common stock outstanding as of November 16, 2017 post the closing of the unregistered sale of equity securities as reported by the Issuer on November 22, 2017.

(c)

Number of shares as to which the person has:

(i)

Sole power to vote or to direct the vote:

(ii)

Shared power to vote or to direct the vote:

(iii)

Sole power to dispose or to direct the disposition of:

(iv)

Shared power to dispose or to direct the disposition of:

Instruction: For computations regarding securities which represent a right to acquire an underlying security see §240.13d-3(d)(1).

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.

Not Applicable

Item 7.  Identification and Classification of the Subsidiary Which Acquired the Security 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 that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated:  Nvember 27, 2017

PVAM PERLUS MICROCAP FUND L.P.

 

Name: Steven Druskin

Title: Director of PVAM Limited, as General Partner

PVAM HOLDINGS LTD.

By:           /s/ Steven Druskin 

Name: Steven Druskin

Title: Director

PACIFIC VIEW ASSET MANAGEMENT (UK) LLP

By:          /s/ Steven Druskin 

Name: Steven Druskin

Title: Authorized Signatory

 

EXHIBIT A

Joint Filing Agreement Pursuant To Rule 13d-1(K)

Of The Securities Exchange Act Of 1934

 

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein and therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

Dated:  November 27, 2017

PVAM PERLUS MICROCAP FUND L.P.

By:          /s/ Steven Druskin 

Name: Steven Druskin

Title: Director of PVAM Limited, as General Partner

PVAM HOLDINGS LTD.

By:          /s/ Steven Druskin 

Name: Steven Druskin

Title: Director

PACIFIC VIEW ASSET MANAGEMENT (UK) LLP

By:          /s/ Steven Druskin 

Name: Steven Druskin

Title: Authorized Signatory