VSYS Viscount Systems Inc (CE)

Item 1. Security and Issuer

The title of the class of equity securities to which this statement relates is the Common Shares of Viscount Systems, Inc., a Nevada corporation (the “Issuer”). The principal executive offices of the Issuer are located at 4585 Tillicum Street, Burnaby, British Columbia, Canada V5J 5K9.

Item 2. Identity and Background

Item 3. Source and Amount of Funds or Other Considerations

The source and amount of funds used in purchasing the Common Shares, Promissory Notes, Warrants and Preferred Shares by the Filers were as follows:

Item 4. Purpose of Transaction

The Issuer and the Filers entered into a series of transactions as detailed in the Issuer’s 8-K filed on November 24, 2015, followed by the April 11, 2016 waiver of the 4.99% common stock ownership limitation (as explained in footnotes 2 and 5 above) that resulted in the ownership stakes disclosed herein.

The Filers acquired the Common Shares, Promissory Notes, Warrants and Preferred Shares for investment purposes, and such purposes were made in the Filers’ ordinary course of business. In pursuing such investment purposes, the Filers may further purchase, hold, vote, trade, dispose or otherwise deal in the Common Shares, Promissory Notes, Warrants and Preferred Shares, as they deem advisable to benefit from changes in market prices, changes in the Issuer’s operations, business strategy or prospects, or from a sale or merger of the Issuer – subject to limitation based on Cacioppo’s current position as a member of the Board of Directors of the Issuer.

To evaluate such alternatives, the Filers routinely will monitor the Issuer’s operations, prospects, business development, management, competitive and strategic matters, capital structure, and prevailing market conditions, as well as alternative investment opportunities, liquidity requirements of the Filers and other investment considerations.

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Consistent with their investment research methods and evaluation criteria, the Filers may discuss such matters with management or other directors of the Issuer, other shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other investors. Such factors and discussions may materially affect, and result in, the Filers’ modifying their ownership of the Common Shares, Promissory Notes, Warrants and Preferred Shares, exchanging information with the Issuer pursuant to appropriate confidentiality or similar agreements, proposing changes in the Issuer’s operations, governance or capitalization, or in proposing one or more of the other actions described in paragraphs (a) through (j) of Item 4 of Schedule 13D. The Filers reserve the right to formulate other plans and/or make other proposals and take such actions with respect to their investment in the Issuer, including any or all of the actions set forth in paragraphs (a) through (j) of Item 4 of Schedule 13D, or acquire additional Common Shares, Promissory Notes, Warrants and Preferred Shares or dispose of all Common Shares, Promissory Notes, Warrants and Preferred Shares beneficially owned by them, in public market or privately negotiated transactions subject to limitation based on Cacioppo’s current position as member of the Board of Directors of the Issuer. The Filers may at any time reconsider and change their plans or proposals relating to the foregoing.

Item 5. Interest in Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

One East Capital Advisors, L.P. is an investment adviser whose clients, including OEP Master and OEP Opps have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, Common Shares, Promissory Notes, Warrants and Preferred Shares. Cacioppo is the Managing Member of One East Capital Advisors, L.P.

Item 7. Material to Be Filed as Exhibits

Please refer to previously filed Viscount Systems, Inc. 8K dated November 24, 2015 as well as Form 5 filed by James Cacioppo on March 28, 2016.

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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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