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 OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

PELL LEWIS C 		2. Issuer Name and Ticker or Trading Symbol

VISION SCIENCES INC /DE/ [ VSCI ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

C/O VISION-SCIENCES, INC., 40 RAMLAND ROAD SOUTH, SUITE 1 		3. Date of Earliest Transaction (MM/DD/YYYY)

1/25/2013
(Street)

ORANGEBURG, NY 10962
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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, $0.01 Par Value per share   2/12/2015   2/12/2015   P    15000   A $0.4647   8898740   D    
Common Stock, $0.01 Par Value per share   2/11/2015   2/11/2015   P    20000   A $0.4635   8883740   D    
Common Stock, $0.01 Par Value per share                  50000   I   By spouse  
Common Stock, $0.01 Par Value per share                  43500   I   By trust  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Convertible Promissory Note   $1.20   1/25/2013     J   (1)    1000000       1/25/2013   9/19/2017   Common Stock   833333   $0   15213953   D    
Convertible Promissory Note   $1.20   3/12/2013     J   (1)    1000000       3/12/2013   9/19/2017   Common Stock   833333   $0   16047286   D    
Convertible Promissory Note   $1.20   4/19/2013     J   (1)    1000000       4/19/2013   9/19/2017   Common Stock   833333   $0   16880620   D    
Convertible Promissory Note   $1.20   6/10/2013     J   (1)    1000000       6/10/2013   9/19/2017   Common Stock   833333   $0   17713953   D    
Convertible Promissory Note   $1.20   7/24/2013     J   (1)    1000000       7/24/2013   9/19/2017   Common Stock   833333   $0   18547286   D    
Convertible Promissory Note   $0.89   10/7/2013     J   (2)    1000000       10/7/2013   9/25/2018   Common Stock   1123595   $0   19670881   D    
Convertible Promissory Note   $0.89   11/26/2013     J   (2)    1000000       11/26/2013   9/25/2018   Common Stock   1123595   $0   20794477   D    
Convertible Promissory Note   $0.89   1/21/2014     J   (2)    1000000       1/21/2014   9/25/2018   Common Stock   1123595   $0   21918072   D    
Convertible Promissory Note   $0.89   3/13/2014     J   (2)    500000       3/13/2014   9/25/2018   Common Stock   561797   $0   22479870   D    
Convertible Promissory Note   $1.11   6/16/2014     J   (3)    1000000       6/16/2014   6/16/2019   Common Stock   900900   $0   23380770   D    
Convertible Promissory Note   $1.11   8/12/2014     J   (3)    1000000       8/12/2014   6/16/2019   Common Stock   900900   $0   24281671   D    
Convertible Promissory Note   $1.11   10/24/2014     J   (3)    1000000       10/24/2014   6/16/2019   Common Stock   900900   $0   25182572   D    

Explanation of Responses:
( 1)  The Issuer issued a $20.0 million revolving convertible promissory note to the Reporting Person on September 19, 2012 (the "2012 Note"). The Issuer borrowed an additional $1.0 million under the 2012 Note on January 25, 2013, March 12, 2013, April 19, 2013, June 10, 2013 and July 24, 2013, bring the aggregate principal amount outstanding under the 2012 Note to $20.0 million. The outstanding balance under the 2012 Note is convertible, at the Reporting Person's opinion, into shares of the Issuer's common stock at a fixed conversion price of $1.20 per share.
( 2)  The Issuer issued a $3.5 million revolving convertible promissory note to the Reporting Person on September 23, 2013 (the "2013 Note"). The Issuer borrowed $1.0 million under the 2013 Note on October 7, 2013. November 26, 2013 and January 21, 2014 and $500,000 under the 2013 Note on March 13, 2014, bring the aggregate principal amount outstanding under the 2013 Note to $3.5 million. The outstanding balance under the 2013 Note is convertible, at the Reporting Person's opinion, into shares of the Issuer's common stock at a fixed conversion price of $0.89 per share.
( 3)  The Issuer issued a $5.0 million revolving convertible promissory note to the Reporting Person on June 16, 2014 (the "2014 Note"). The Issuer borrowed $1.0 million under the 2014 Note on June 16, 2014, August 12, 2014 and October 24, 2014, bring the aggregate principal amount outstanding under the 2014 Note to $3.0 million. The outstanding balance under the 2014 Note is convertible, at the Reporting Person's opinion, into shares of the Issuer's common stock at a fixed conversion price of $1.11 per share

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
PELL LEWIS C
C/O VISION-SCIENCES, INC.
40 RAMLAND ROAD SOUTH, SUITE 1
ORANGEBURG, NY 10962 		X X


Signatures
/s/ Lewis C. Pell 2/13/2015
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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