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+--------+ UNITED STATES
| FORM 5 | SECURITIES AND EXCHANGE COMMISSION
+--------+ Washington, D.C. 20549
[_] Check this box if
no longer subject ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
[_] Form 3 Holdings Reported
[_] Form 4 Transactions Reported
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1. Name and Address of Reporting Person*
Blue, Michael M.
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(Last) (First) (Middle)
500 East Robinson
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(Street)
Norman, OK 73071
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol Medcare Technologies, Inc. (MCAR)
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3. I.R.S. or Social Security Number of Reporting Person
(Voluntary)
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4. Statement for Month/Year 12/99
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[X] Director [ ] Officer [ ] 10% Owner [ ] Other
(give title below) (specify below)
7. Individual or Joint/Group Filing (check applicable line)
_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
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Table I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<TABLE>
<CAPTION>
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Month/ (Instr. 8) Owned at the Direct Bene-
Day/ end of (D) or ficial
Year) Issuer's Indirect Owner-
(A) or Fiscal Year (I) ship
Amount (D) Price (Instr. 3 and 4) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 9/4/96 P 4,000 A 4,000 D
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* If the form is filed by more than one reporting person, see instruction
4(b)(v).
(over)
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Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
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(A) (D)
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<S> <C> <C> <C> <C> <C>
1996 Stock Option Plan $4.50 6/18/96 J 40,000 0
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1997 Stock Option Plan $4.50 11/1/96 J 60,000 0
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1997 Stock Option Plan $6.50 11/1/96 J 15,000 0
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1998 Stock Option Plan $9.00 3/16/97 J 20,000 0
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</TABLE>
<TABLE>
<CAPTION>
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6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative of De- of In-
Date ative Secur- rivative direct
(Month/Day/ Secur- ities Secu- Bene-
Year) ity Bene- rity: ficial
(Instr. 5) ficially Direct Owner-
------------------------------------------------- Owned (D) or ship
Date Expira- Amount or at End Indi- (Instr. 4)
Exer- tion Title Number of of Year rect (I)
cisable Date Shares (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C>
6/18/96 6/20/01 Common Stock 40,000 $4.50 40,000 D
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11/1/96 11/18/01 Common Stock 60,000 $4.50 60,000 D
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11/1/96 7/1/05 Common Stock 15,000 $6.50 15,000 D
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3/16/98 3/16/02 Common Stock 20,000 $9.00 20,000 D
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</TABLE>
Explanation of Responses:
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<CAPTION>
In Item 4, Transaction Code "J" is listed because the options continue to be held by the original holder. No options have been
converted into stock or otherwise disposed of.
<S> <C> <C>
/S/ Dr. Michael M. Blue February 11, 2000
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**Dr. Michael M. Blue Date
** 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.
Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the
form displays a currently valid OMB Number. Page 2
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