U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 4
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
National Patent Development, Corporation
9 West 57 Street - Suite 4170
New York, NY 10019
Manhattan
2. Issuer Name and Ticker or Trading Symbol
American White Cross, Inc.
(AWIC)
3. IRS or Social Security Number of Reporting Person (Voluntary)
13-1026739
4. Statement for Month/Year
June 1996
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)
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |6/11/9|S | |1,500 |D |$1.82 | | | |
|6 | | | | | | | | |
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|6/12/9|S | |1,500 |D |$1.695 | | | |
|6 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|6/14/9|S | |2,000 |D |$1.60 | | | |
|6 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|6/17/9|S | |4,000 |D |$1.6325 | | | |
|6 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|6/18/9|S | |2,000 |D |$1.6325 | | | |
|6 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|6/20/9|S | |2,000 |D |$1.445 | | | |
|6 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|6/24/9|S | |2,000 |D |$1.445 | | | |
|6 | | | | | | | | |
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|6/25/9|S | |4,200 |D |$1.32 |299,800 |D | |
|6 | | | | | | | | |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
SIGNATURE OF REPORTING PERSON
Lydia M. DeSantis, Corporate Secretary
DATE
July 8, 1996
