FORM 3 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
1. Name and Address of Reporting Person
Blue, Michael M.
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(Last) (First) (Middle)
500 East Robinson, Suite 800
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(Street)
Norman, Oklahoma 73071
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
9/4/96
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3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
MedCare Technologies, Inc. (MCAR)
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5. Relationship of Reporting Person to Issuer (Check all applicable)
X Director 10% Owner
Officer (give title below) ____ Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
Table 1 Non-Derivative Securities Beneficially Owned
<TABLE>
<CAPTION>
2. Amount of 3. Ownership Form:
1. Title of Securities Direct (D) or 4.Nature of Indirect
Security Beneficially Owned Indirect (I) Beneficial Ownership
<S> <C> <C> <C>
Common Stock 4,000 D
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
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Form 3 (continued)
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls,
warrants, options, convertible securities)
<TABLE>
<CAPTION>
Owner-
Date Exercisable Title and Amount Conver- ship
And Expiration of Securities sion or Form of Nature
Date (Month/ Underlying Deriva- Exercise Deriv- of In-
Day/Year) tive Security Price of ative direct
Derivative Security: Bene-
1. Title of Date Expira- Title Amount or Security Direct ficial
Derivative Exer- tion Number (D) or In- Owner-
Security cisable Date of Shares direct (I) ship
<S> <C> <C> <C> <C> <C> <C> <C>
1996 Stock Common
Option Plan 6/18/96 6/20/01 Stock 40,000 $4.50 D
1997 Stock Common
Option Plan 11/1/96 11/18/01 Stock 60,000 $4.50 D
1997 Stock Common
Option Plan 11/1/96 7/1/05 Stock 15,000 $6.50 D
Explanation of Responses:
</TABLE>
/s/ Michael M. Blue 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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