FORM 5 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section
17(a) of the Pubic Utility Holding Company Act of 1935 or Section 30(f) of the
Investment Company Act of 1940
___ Check box if no longer
subject to Section 16.
Form 4 or Form 5 obligations
may continue. See Instruction
1(b).
X Form 3 Holdings Reported
___ Form 4 Transactions Reported
1. Name and Address of Reporting Person
Rayat, Kundan S.
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(Last) (First) (Middle)
216-1628 West 1st Avenue
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(Street)
Vancouver, British Columbia V6J 1G1 Canada
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MedCare Technologies, Inc. (MCAR)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
December 1997
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5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
X Director 10% Owner
Officer (give title below) ____ Other (specify below)
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Table 1 Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<TABLE>
<CAPTION>
1. 2. Trans- 3. 4. Securities Acquired Amount of Owner- Nature
Title action Trans- (A) or Disposed of (D) Securities ship of In-
of Date action Benefici- Form: direct
Secu- (Month/ Code ally Direct Bene-
rity Day/ Amount (A) or Price Owned at (D) ficial
Year) (D) End of or In- Owner-
Issuer's direct Ship
Fiscal (I)
Year
<S> <C> <C> <C> <C> <C> <C> <C> <C>
NONE
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
</TABLE>
<PAGE>
Form 5 (continued)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
2. Conver- 3. Trans- 4. Trans- 5.Number of 6.Date Exer-
sion or action action Derivative cisable and
Exercise Date Code Securities Ac- Expiration
1. Price of (Month/ quired (A) or Date (Month/
Title of Deriv- Day/ Disposed of (D) Day/Year)
Derivative ative Year)
Security Security (A) (D) Date Expira-
Exer- tion
cisable Date
<S> <C> <C> <C> <C> <C> <C> <C>
NONE
</TABLE>
<TABLE>
<CAPTION>
1. Title of 7. Title and Amount of 8. Price 9. Number 10.Owner- 11. Na-
Derivative Underlying Securities of of Deriv- ship ture of
Security Deriv- ative of Deriv- Indirect
(con't) Title Amount or ative Secur- ative Bene-
Number of Secur- ities Secur- ficial
Shares ity Bene- ity: Owner-
ficially Direct ship
Owned (D) or
At End Indirect
Of Year (I)
<S> <C> <C> <C> <C> <C> <C>
NONE
</TABLE>
Explanation of Responses:
In Item 4, Transaction Code "J" is listed because the options continue to be
held by the original issuee. No options have been converted into stock or
otherwise disposed of.
Kundan S. Rayat 4/29/98
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts
constitute Federal Criminal Violations.
SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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