FORM 4
[ ] Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations may
continue. See Instruction 1(b).
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
OMB APPROVAL
OMB Number: 3235-0287
Expires: April 30, 1997
Estimated average burden
hours per response.....05
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1940
1. Name and Address of Reporting Person:
Last: Reefknot Limited Street: c/o Insinger Group
First: One Stockes Place, St. Stephens Green
Middle: City: Dublin 2
State: Republic of Ireland Zip:
2. Issuer Name and Ticker or Trading Symbol: Brilliant Digital
Entertainment, Inc.
AMEX Trading Symbol "BDE"
3. IRS or Social Security Number of Reporting Person (Voluntary):
4. Statement for Month/Year: July 1997
5. If Amendment, Date of Original (Month/Year):
6. Relationship of Reporting Person to Issuer (Check all applicable):
[ ] Director
[(1)] 10% Owner
[ ] Officer (give title below):
[ ] Other (specify below):
-------------------------------------------------
<TABLE>
<CAPTION>
TABLE I -- NON-DERIVATIVE
SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
</CAPTION>
<C> <C> <C> <C> <C> <C> <C>
1. Title of Security 2. Trans- 3. Transaction 4. Securities Acquired(A) 5. Amount of 6. Ownership 7. Nature of
(Instr. 3) action Code or Disposed of (D) Securities Form; Indirect
Date (Instr. 8) (Instr. 3, 4 and 5) Beneficially Direct (D) Beneficial
(Month/ <C> <C> <C> <C> <C> Owned at End or Indirect Ownership
Day/ Code V Amt. (A) or Price of Month (I) (Instr. 4)
Year) (D) (Instr. 3
and 4) (Instr. 4)
Common Stock 6/30/97 S 182,000 D $4.625
Common Stock 7/31/97 S 140,000 D $5.00
Common Stock 1,500,118(1) D
</TABLE>
PAGE 1
<PAGE>
<TABLE>
<CAPTION>
TABLE II -- DERIVATIVE SECURITIES
ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS,
WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
</CAPTION>
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1.Title 2.Conver- 3.Trans- 4.Trans- 5.No. of 6.Date Exer- 7.Title and 8.Price 9.No. of 10.Owner- 11.Nature
of sion or action action Deriv- cisable Amt. of of Deriv- ship of In-
Deri- Exercise Date Code ative and Ex- Underly- Deri- ative Form direct
vative Price of (Month/ (Instr.8) Securi- piration ing Secur- vative Securi- of Deri- Benefi-
Security Deriva- Day/ ties Ac- Date (Month/ ities Security ties vative cial
(Instr.3) tive Year) quired Day/Year) (Instr.3 (Instr.5) Benefi- Security: Owner-
Security (A) or and 4) cially Direct(D) ship
Disposed Owned or Indi- (Instr.
of (D) at End rect(I) 4)
(Instr.3 of Mth. (Instr.4)
4, and 5) (Instr.4)
<C> <C> <C> <C> <C> <C> <C>
<C>
Code V (A) (D) Date Expira-
Title Amt or
Exer- tion
No. of
cis Date
Shares
able
</TABLE>
Explanation of Responses:
(1) Reefknot Limited is the record and beneficial owner of 1,500,118 shares
of Common Stock of the Issuer pursuant to Rule 16a-1(a)(2) by virtue of
its pecuniary interest in all such shares, but Reefknot Limited is not a
beneficial owner of at least 10% of the Common Stock of the Issuer
pursuant to Rule 16a-1(a)(1) because Insinger Group, and not Reefknot
Limited, possesses all voting power and investment power over all such
shares.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ Michael Sampson 7 August 1997
- ------------------------------ ---------------
**Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
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