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
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company
Act of 1935 or Section 30(f) of the Investment 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: "BDE")
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year: December 1997
5. If Amendment, Date of Original (Month/Year):
6. Relationship of Reporting Person to Issuer (Check all applicable):
[ ] Director
[X] 10% Owner
[ ] Officer (give title below):
[ ] Other (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
<TABLE>
<CAPTION>
TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<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)
Year) (D) (Instr. 4)
(Instr. 3 (Instr. 4)
and 4)
Common Stock 12/10/97 S 300,000 D $4.65
Common Stock 1,200,118 D
</TABLE>
If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of ssecurities
beneficially owned directly or indirectly. (Over)
(Print or Type Responses)
<PAGE>
FORM 4 (CONTINUED)
<TABLE>
<CAPTION>
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<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:
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/Raymond Lee Page 1/6/98
- ------------------------------ ---------------
**Signature of Reporting Person Date
Raymond Lee Page
Director
Reefknot Limited
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, SEE Instruction 6 for procedure.
Page 2
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