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<PAGE> 1
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
1. Name and Address of Reporting Person: Robert K. Ipson,
48 West 300 South, #2303N, Salt Lake City, UT 84101
2. Issuer Name and Ticker or Trading Symbol: NATEX CORPORATION (NATX)
3. IRS or Social Security Number of Reporting Person (Voluntary):
4. Statement for Month/Year: 11/99
5. If Amendment, Date of Original (Month/Year):
6. Relationship of Reporting Person(s) to Issuer (Check all Applicable)
(X) Director (X) Officer, give title below ( ) 10% Owner ( ) Other
Title:
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 I
NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
1. Title of Security: Common Stock
2. Transaction Date (Month/Day/Year): 9/2/99
3. Transaction Code: Code: G
4. Securities Acquired (A) or Disposed of (D): Amount: (D) 50,000 shares
<TABLE>
<CAPTION>
<C> <C> <C> <C>
1. Title 5. Amount of 6. Ownership Form: 7. Nature of
of Securities Direct(D)or Indirect Beneficial
Security Beneficially Owned Indirect(I) Ownership
At End of Month
-------- ------------------ --------------- -------------------
Common Stock 221,000 D N/A
Common Stock 30,000 I Shares held of record by Linda L.
Ipson, spouse of Robert K. Ipson
Common Stock 800 I Shares held of record by the Robert K.
Ipson, IRA
Common Stock 500 I Shares held of record by the Linda Lou
Ipson, IRA
</TABLE>
TABLE II
DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF OR BENEFICIALLY OWNED
1. Title of Derivative Security: n/a
2. Conversion or Exercise Price of Derivative Security: n/a
3. Transaction Date (Month/Day/Year): n/a
4. Transaction Code: n/a
5. Number of Derivative Securities Acquired (A) or Disposed of (D): n/a
6. Date Exercisable and Expiration Date (Month/Day/Year): n/a
7. Title and Amount of Securities Underlying Derivative Security: n/a
8. Price of Derivative Security: n/a
9. Number of Derivative Securities Beneficially Owned at End of Month: n/a
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I): n/a
11. Nature of Indirect Beneficial Ownership: n/a
Explanation of Responses:
Signature of Reporting Person: /S/Robert K. Ipson
Date: 12/6/99
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