Sec Form 4 Filing - PITON CAPITAL PARTNERS LLC @ usell.com, Inc. - 2018-10-24

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person PITON CAPITAL PARTNERS LLC 2. Issuer Name and Ticker or Trading Symbol usell.com, Inc. [ USEL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O KOKINO LLC, 201 TRESSER BOULEVARD, 3RD FLOOR 3. Date of Earliest Transaction (MM/DD/YY) 10/24/2018 (Street) STAMFORD, CT06901 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 10/24/2018 X 500,000 A $ 0.2 4,858,837 ( 1 ) ( 2 ) D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Options (Right to Buy) $ 1 10/24/2018 S( 3 ) 500,000 ( 3 ) 12/20/2021 Common Stock 500,000 ( 3 ) 500,000 ( 3 ) D Stock Options (Right to Buy) $ 0.2 10/24/2018 P( 3 ) 500,000 ( 3 ) 12/16/2018 Common Stock 500,000 ( 3 ) 1,000,000 ( 3 ) D Stock Options (Right to Buy) $ 0.2 10/24/2018 X( 4 ) 500,000 ( 3 ) 12/16/2018 Common Stock 500,000 $ 0 500,000 ( 5 ) D Stock Options (Right to Buy) $ 1 12/20/2016 12/20/2021 Common Stock 500,000 500,000 ( 5 ) D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other PITON CAPITAL PARTNERS LLC C/O KOKINO LLC 201 TRESSER BOULEVARD, 3RD FLOOR STAMFORD, CT06901 X Signatures /s/ Douglas Kline, Chief Operating Officer of Kokino LLC, managing member of Piton Capital Management LLC, managing member of Piton Capital Partners LLC 10/26/2018 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Piton Capital Partners LLC, a Delaware limited liability company ("Piton") and family client of Kokino LLC ("Kokino"), also reports beneficial ownership of the Issuer's common stock pursuant to Rule 13d-1 of the Securities Exchange Act of 1934, as amended, pursuant to a Schedule 13D filed jointly by Leslie J. Schreyer, as Trustee under Trust Agreement dated December 23, 1989 FBO the issue of Jonathan D. Sackler (the "Trust"), M3C Holdings LLC ("M3C"), Robert Averick and Piton, with the SEC on December 30, 2016 (as amended by Amendment No. 1 filed on June 2, 2017, Amendment No. 2 filed on November 22, 2017 and Amendment No. 3 filed on October 26, 2018, the "Schedule 13D"). ( 2 )Represents shares of the Issuer's common stock ("Shares") beneficially owned by Piton. The Trust, M3C and Mr. Averick are members of Piton. Piton's managing member is Piton Capital Management LLC ("PCM"). PCM's managing member is Kokino, and Kokino is Piton's trading manager. Mr. Averick manages the Trust's, M3C's and Piton's investments in the Issuer as Kokino's Portfolio Manager. Mr. Averick holds an economic interest in Piton (which interest may be held directly and, from time to time, indirectly through PCM). Also, Mr. Averick's incentive compensation as an employee of Kokino, which is calculated in Kokino's discretion, may be based, among other things, on the performance of Shares held by the Trust, M3C and Piton. Such compensation may be paid in cash and/or by way of increasing Mr. Averick's interest in Piton (either directly or indirectly through PCM). ( 3 )The two reported transactions involved an amendment of outstanding options, resulting in the deemed cancellation of the "old" options and the grant of replacement options. As described in the Schedule 13D, Brian Tepfer granted the options to Piton on December 20, 2016. The options provide Piton the right to purchase 500,000 shares from Brian Tepfer, are immediately exercisable by Piton and were amended on October 24, 2018 to reduce the exercise price from $1 per share to $0.20 per share from October 24, 2018 until 11:59 PM (EST) on December 16, 2018. Following the reported transaction, Piton held the right to purchase (i) 500,000 shares from Brian Tepfer for $0.20 per share and (ii) 500,000 shares from Scott Tepfer for $1 per share, as described in notes 4 and 5 below. ( 4 )The option, representing a right to purchase a total of 500,000 shares from Brian Tepfer, was exercised in full by Piton on October 24, 2018. ( 5 )Represents the aggregate shares of common stock that Piton has the right to purchase from Scott Tepfer under stock options that are immediately exercisable by Piton (as described in the Schedule 13D). As described in the Schedule 13D, Scott Tepfer granted the options to Piton on December 20, 2016.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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