SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G/A
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
(Amendment No.1)(1)
Tarrant Apparel Group
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
876289 109
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(CUSIP Number)
December 31, 2002
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(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)
[X] Rule 13d-1(d)
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(1) 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 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. 876289 109 13G/A Page 2 of 5 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Todd Kay
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 3,249,999 (2)
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 0
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 3,249,999 (1)(2)
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 0
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,249,999 (1)(2)
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
19.7% (3)
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) The Reporting Person has pledged an aggregate of 1,015,000 of such shares
to financial institutions to secure the repayment of loans to the Reporting
Person or corporations controlled by the Reporting Person.
(2) Includes 683,332 shares which may be acquired by the Reporting Person upon
exercise of stock options.
(3) Based on a total of 15,846,315 shares of the issuer's Common Stock issued
and outstanding on October 31, 2002, as reported on the issuer's Form
10-QSB for the period ended September 30, 2002.
CUSIP No. 876289 109 13G/A Page 3 of 5 Pages
Item 1(a). Name of Issuer:
Tarrant Apparel Group
____________________________________________________________________
Item 1(b). Address of Issuer's Principal Executive Offices:
3151 East Washington Boulevard
Los Angeles, California 90023
____________________________________________________________________
Item 2(a). Name of Person Filing:
Todd Kay
____________________________________________________________________
Item 2(b). Address of Principal Business Office, or if None, Residence:
3151 East Washington Boulevard
Los Angeles, California 90023
____________________________________________________________________
Item 2(c). Citizenship:
U.S.A.
____________________________________________________________________
Item 2(d). Title of Class of Securities:
Common Stock, par value $0.01 per share
____________________________________________________________________
Item 2(e). CUSIP Number:
876289 109
____________________________________________________________________
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
Not Applicable
____________________________________________________________________
Item 4. Ownership.
Included in rows 5 through 9 and 11 on page 2.
____________________________________________________________________
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable
____________________________________________________________________
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Not Applicable
____________________________________________________________________
CUSIP No. 876289 109 13G/A Page 4 of 5 Pages
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control
Person.
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. Certifications.
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.
February 14, 2003
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(Date)
/s/ Todd Kay
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(Signature)
Todd Kay
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(Name/Title)
Note. Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other parties
for whom copies are to be sent.
Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).