UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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
<TABLE>
- ------------------------------------------ ----------------------------- ---------------------------- ----------------------------
<S> <C> <C> <C>
1. Name and Address of Reporting Person 2. Date of Event Requiring 3. I.R.S. Identification 4. Issuer Name and Ticker
Statement Number of Reporting or Trading Symbol
Gerson Alan (Month/Day/Year) Person, if an entity
- -------------------------------------- (voluntary) BidHit.com, Inc. "BHIT"
(Last) (First) (Middle) 12/15/1999
Suite 360, 225 S. Sepulveda Blvd. Not Applicable
- --------------------------------------
(Street)
Manhattan Beach, CA 90266
- --------------------------------------
(City) (State) (Zip)
- ------------------------------------------ ----------------------------- ---------------------------- ----------------------------
5. Relationship of Reporting Person(s) 6. If Amendment, 7. Individual or
to Issuer (Check all applicable) Date of Original Joint/Group Filing (Check
(Month/Day/Year) Applicable Line)
_X_ Director ___ 10% Owner
Not Applicable _X_ Form filed by One
___ Officer (give ___ Other Reporting Person
title below)(specify below)
___ Form filed by more
than One Reporting
Person
- ----------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
- ----------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Indirect Beneficial Ownership
(Instr. 4) (I) (Instr. 5) (Instr. 5)
- ------------------------------------------ ----------------------------- ---------------------------- ----------------------------
Common Nil N/A N/A
- ------------------------------------------ ----------------------------- ---------------------------- ----------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
- ----------------- ------------------------------- ------------------------------- ---------------- ----------------- ---------------
<S> <C> <C> <C> <C> <C>
1. Title of 2. Date Exercisable and 3. Title and Amount of 4. Conversion 5. Ownership 6. Nature of
Derivative Expiration Date Securities Underlying or Exercise Form of Indirect
Security (Month/Date/Year) Derivative Security (Instr. 4) Price of Derivative Beneficial
(Instr. 4) Derivative Securities: Ownership
Security Direct (D) or (Instr. 5)
Indirect (I)
(Instr. 5)
--------------- --------------- --------------- ---------------
Date Expiration Title Amount or
Exercisable Date Number of
Shares
- ----------------- --------------- --------------- --------------- --------------- ---------------- ----------------- ---------------
Stock Options 8.33% of June 1, 2002 Common Shares 300,000 US$4.00 D N/A
300,000 at
the end of
each month
from June 1,
1999 to June
1, 2000
- ----------------- --------------- --------------- --------------- --------------- ---------------- ----------------- ---------------
</TABLE>
Explanation of Responses:
/s/ Alan Gerson December 21, 1999
- ---------------------------------- --------------------------
Alan Gerson Date
**Signature of Reporting Person
** 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.
