UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D
AMENDMENT
NO.1
Under
the Securities Exchange Act of 1934
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Industrial
Enterprises of America, Inc.
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(Name
of Issuer)
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Common
Stock, par value $.001 per share
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(Title
of Class of Securities)
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Beryl
Zyskind
925
E. 24th Street
Brooklyn,
NY 11210
(
347
)
992-5513
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(Name,
Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
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April
2, 2009
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(Date
of Event which Requires Filing of this
Statement)
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If the
filing person has previously filed a statement on Schedule 13G to report the
acquisition that is the subject of this Schedule 13D/A, and is filing this
schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. [_]
Note:
Schedules
filed in paper format shall include a signed original and five copies of the
schedule, including all exhibits. See § 240.13d-7 for other parties
to whom copies are to be 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 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).
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1
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NAMES
OF REPORTING PERSONS
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
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Beryl
Zyskind
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2
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
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(a) [_]
(b) [_]
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3
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SEC
USE ONLY
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4
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SOURCE
OF FUNDS (See Instructions)
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OO
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5
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CHECK
IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR
2(E)
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6
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CITIZENSHIP
OR PLACE OF ORGANIZATION
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United
States
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NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
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7
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SOLE
VOTING POWER
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105,500,281
(i)
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8
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SHARED
VOTING POWER
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0
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9
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SOLE
DISPOSITIVE POWER
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105,500,281
(i)
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10
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SHARED
DISPOSITIVE POWER
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0
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11
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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105,500,281
(i)
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12
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CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See
Instructions)
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[_]
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13
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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70.3%
(based on 150,000,000 shares of Common Stock issued and
outstanding)
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14
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TYPE
OF REPORTING PERSON (See Instructions)
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IN
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(i)
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Shares
were awarded to Beryl Zyskind based upon a judgment against Industrial
Enterprises of America, Inc.
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Item 1.
Security
and Issuer
The title
and class of equity securities to which this Schedule 13D relates is common
stock, par value $0.001 per share (the "Common Stock"), of Industrial
Enterprises of America, Inc., a Nevada corporation (the "Issuer"). The address
of the principal executive offices of the Issuer is 711 Third Avenue, Suite
1505, New York, New York 10017.
Item 2.
Identity
and Background
This
statement is being filed by Beryl Zyskind (“Zyskind”). Zyskind is a private
investor and is a citizen of the United States. Zyskind resides at 925 E.
24
th
Street, Brooklyn, NY 11210.
Within
the last five years, Zyskind has not been convicted in any criminal proceeding,
nor has he been a party to any civil proceeding commenced before a judicial or
administrative body of competent jurisdiction as a result of which he was or is
now subject to a judgement, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
Item 3.
Source
and Amount of Funds or Other Considerations
Zyskind
commenced an action on July 18, 2006 in the Supreme Court of the State of New
York, County of New York, entitled
Beryl Zyskind v. Industrial
Enterprises of America, Inc. f/k/a Advanced Bio/Chem, Inc.
, Index No.
602523/2006 (the “Action”), by the filing of a Summons and Complaint, in which
he sought the enforcement of four convertible promissory notes executed by the
Company his favor, dated April 26, 2004, May 21, 2004, July 9, 2004 and July 15,
2004, each in the amount of $25,000, and five warrants. In the
Action, Plaintiff alleged that the Company failed to honor the notice of
conversion provided by Zyskind to the Company for the conversion of the
aforementioned convertible promissory notes, and failed to honor his notice to
exercise the warrants.
On April
2, 2009, the Court rendered a Judgment in favor of Zyskind and against the
Company (the “Judgment”). The Judgment was entered in the office of
the Clerk of the County of New York on April 8, 2009 and Notice of Entry of the
Judgment was served on April 9, 2009. In the Judgment, the Court
awarded Zyskind a money judgment against the Company in the sum of
$10,758,643.90, and directed the Company, or its transfer agent to issue and
delver to Zyskind 121,500,280 shares of the Company’s common stock, or such
lesser amount of the Company’s common stock that is authorized and unissued,
freely tradeable and without restrictive legend, within thirty (30) days of
service of notice of entry of the Judgment.
Item 4.
Purpose
of Transaction
Zyskind
has no present plans or proposals that relate to or would result in any of the
actions required to be described in the subsections (a) through (j) of Item 4 of
Schedule 13D. Zyskind may, at any time, review or reconsider his position with
respect to the Issuer and formulate plans or proposals with respect to any of
such matters, but has no present intention of doing so.
Item 5.
Interest
in Securities of the Issuer
Zyskind
currently owns 105,500,281 shares of Common Stock of the Issuer, which
represents 70.3% of the Issuer’s Common Stock based on 150,000,000 shares of
Common Stock issued and outstanding. Zyskind has the sole power to
vote or direct the vote, and to dispose or direct the disposition of such
shares.
Item 6.
Contracts,
Arrangements, Understandings or Relationships with Respect to Securities of the
Issuer
There are
no contracts, arrangements, understandings or relationships (legal or otherwise)
between Zyskind and any other person with respect to any securities of the
Issuer.
Item 7.
Material
to Be Filed as Exhibits
N/A
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.
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Dated:
April 27, 2009
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By:
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/s/
Beryl Zyskind
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Beryl
Zyskind
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