FORM 3
U.S. SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
INITIAL STATEMENT OF |_____________________|
BENEFICIAL OWNERSHIP OF SECURITIES |OMB NUMBER: 3235-0104|
|EXPIRES: |
| SEPTEMBER 30, 1998 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE |
Securities Exchange Act of 1934, |BURDEN HOURS |
Section 17(a) of the Public Utility |PER RESPONSE 0.5 |
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
Schleicher Brian L.
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(Last) (First) (Middle)
9040 Roswell Road - Suie 470
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(Street)
Atlanta GA 30350
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
01/22/1999
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3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
-----
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4. Issuer Name and Ticker or Trading Symbol
HealthWatch, Inc. (HEAL)
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5. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER (CHECK ALL APPLICABLE)
( ) DIRECTOR
( ) 10% OWNER
(XX) OFFICER (GIVE TITLE BELOW)
( ) OTHER (SPECIFY TITLE BELOW)
Chief Financial Officer and Chief Administrative Officer
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6. IF AMENDMENT, DATE OF ORIGINAL (MONTH/DAY/YEAR)
___________________________________________________________________________
7. INDIVIDUAL OR JOINT/GROUP FILING (CHECK APPLICABLE LINE)
FORM FILED BY ONE REPORTING PERSON
FORM FILED BY MORE THAN ONE REPORTING PERSON<PAGE>
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TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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|1. TITLE OF SECURITY|2. AMOUNT OF |3. OWNERSHIP |4. NATURE OF INDIRECT |
| (INSTR. 4) | SECURITIES | FORM DIRECT| BENEFICIAL OWNERSHIP|
| | BENEFICIALLY| DIRECT (D) | (INSTR. 5) |
| | OWNED | OR INDIRECT| |
| | (INSTR. 4) | (I) (INSTR.| |
| | | 5) | |
|____________________|_______________|______________|_______________________|
| | | | |
| Common Stock | 72,727<F1> | I | By B&S Holding, Inc. |
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<PAGE>
FORM 3 (Continued)
<TABLE>
<CAPTION>
TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (e.g. puts, calls, warrants, options, convertible securities)
1. Title of Dirivative | 2. Date |3. Title and Amount of Securities | 4. Conversion | 5. Owner- | 6. Nature of Indirect |
Security (Inst. 4) | Exercisable | Underlying Derivative Security | or | ship | Beneficial |
| and | (Inst. 4) | Exercise | Form of | Ownership |
| Expiration | | Price of | Deriv- | Inst. 5) |
| Date | | Deri- | ative | |
| (Month/Day/ | | vative | Security:| |
| Year) | | Security | Direct | |
- ---------------------------------------------------------------------------| | (D) or | |
| Date | Expira-| | Amount | | Indirect | |
| Exer- | tion | Title | or | | (I) | |
|cisable| Date | | Number | | (Inst. 5)| |
| | | | of Shares| | | |
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<S> | <C> | <C> | <S> | <C> | <C> | <C> | <S> |
Warrants | 01/14/| 01/14/ | Common Stock | 72,727 | $0.4468 | I | By B&S Holding |
| 1999 | 2001 | | | | | |
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</TABLE>
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EXPLANATION OF RESPONSES:
[FN]
<F1> These shares and warrants were acquired by B&S Holdings, Inc., a Georgia
corporation, of which Mr. Schleicher is the President and a 50%
shareholder.
</FN>
/s/ Brian L. Schleicher 02/12/1999
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** SIGNATURE OF REPORTING PERSON DATE
________________________________
** INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS.
SEE 18 U.S.C. 1001 AND 15 U.S.C. 78FF(A).
