FORM 3 U. S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
OMB APPROVAL
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OMB Number: 3235-0104
Expires: April 30, 1997
Estimated average burden
hours per response . . . 0.5
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
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1. Name and Address of Reporting Person
Continental Investment Corporation
10254 Miller Road
Dallas, Texas 75238
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2. Date of Event Requiring Statement (Month/Day/Year)
09/09/97
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3. IRS or Social Security Number of Reporting Person (Voluntary)
58-0705228
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4. Issuer Name and Ticker or Trading Symbol
WasteMasters, Inc. WAST
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5. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [ ] Officer [X] 10% Owner [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
1. Title 2. Amount of 3. Ownership Form: 4. Nature of
of Securitites Bene- Direct (D) or Indirect Bene-
Security ficially Owned Indirect (I) ficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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Series A
Preferred
Stock 5,000,000 D
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Common
Stock 4,500,000 D
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Print or Type Responses)
<PAGE>
FORM 3 (Continued)
TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
1. Title of 2. Date Exercisable 3. Title and Amount 4. Conversion 5. Ownership 6. Nature of
Derivative and Expiration of Securitites or Exercise Form of Indirect
Security Date Underlying Deriva- Price of Derivative Beneficial
(Instr. 4) (Month/Day/ tive Security Derivative Security: Ownership
Year) (Instr. 4) Security Direct (D) (Instr. 5)
------------------------------------------- or Indirect
Amount (I)
or (Instr. 5)
Date Expira- Number
Exer- tion Title of
cisable Date Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses: Refer to 13-D Report filed by Continental
Investment Corporation on September 19, 1997.
CONTINENTAL INVESTMENT CORPORATION
By: /s/R. Dale Sterritt, Jr.
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** Signature of Reporting Person
R. Dale Sterritt, Jr.,
Chairman, President and
Chief Executive Officer
** 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 provided is insufficient, See Instruction 6 for procedure.
