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OMB APPROVAL
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OMB Number 3235-0104
Expires: 12-31-2001
Estimated average burden
hours per response.... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
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 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*
John M. Eger
______________________________________________________________________________
(Last) (First) (Middle)
3151 Airway Ave., Suite P-3
______________________________________________________________________________
(Street)
Costa Mesa, CA 92627
______________________________________________________________________________
(City) (State) (Zip)
______________________________________________________________________________
2. Date of Event Requiring Statement (Month/Day/Year)
October 30, 1999
______________________________________________________________________________
3. IRS Identification Number of Reporting Person, if an Entity
(Voluntary)
______________________________________________________________________________
4. Issuer Name and Ticker or Trading Symbol
GTC Telecom Corp. -- GTCC
______________________________________________________________________________
5. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
________________________________________________________________________________
6. If Amendment, Date of Original (Month/Day/Year)
________________________________________________________________________________
7. Individual or Joint/Group Filing (Check applicable line)
[X] Form Filed by 1 Reporting Person
[_] Form Filed by More than 1 Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or 4. Nature of Indirect
1. Title of Security Beneficially Owned Indirect (I) Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 4)
<S> <C> <C> <C>
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NONE
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
SEC 1473 (3-99)
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date ----------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
<S> <C> <C> <C> <C> <C> <C> <C>
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Option 10/18/1999 10/18/2002 Common 526,000 $1.00 D
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</TABLE>
Explanation of Responses:
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute FederalCriminal
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 provided is insufficient, see Instruction 6 for procedure.
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