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FORM 3 OMB APPROVAL
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OMB Number 3235-0104
Estimated average burden
hours per response 0.5
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U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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
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1. Name and Address of Reporting Person
Elan International Services, Ltd.
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(Last) (First) (Middle)
102 St. James Court
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(Street)
Flatts Smiths SL04 Bermuda
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
1/21/98
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker of Trading Symbol
Endorex Corp. (ENDR)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director
[X] 10% Owner
[ ] Officer (give title below)
[ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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<TABLE>
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TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership 4. Nature of Indirect Beneficial Onwership
(Instr. 4) Beneficially Owned Form: Direct (Instr. 5)
(Instr. 4) (D) or Indirect
(I) (Instr. 5)
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<S> <C> <C> <C>
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Common Stock 307,692 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)
(Over)
SEC 1473 (3/94)
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FORM 3 (continued)
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TABLE II--DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative 2. Date Exer- 3. Title and Amount of Securities 4. Conver- 5. Owner- 6. Nature of
Security (Instr. 4) cisable and Underlying Derivative Security sion or ship Indirect
Expiration (Instr. 4) Exercise Form of Beneficial
Date ----------------------------------- Price of Deriv- Ownership
(Month/Day/Year) Deriv- ative (Instr. 5)
--------------------- Amount ative Security
or Security Direct
Date Expira- Title Number (D) or
Exer- tion of Indirect
cisable Date Shares (I)
(Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
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Warrant 1/22/98 1/21/04 Common Stock 230,770 $10.00 D
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Series B Convertible
Preferred Stock 1/22/98 1/22/03 Common Stock 1,068,000 $ 7.50 D
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Explanation of Responses:
Fully Diluted ownership interest of 14.16% (based upon 9,736,641 outstanding
shares of Common Stock, as reported under Item 5 in the Issuer's quarterly
report on Form 10-Q for the quarter ended September 30, 1997), assuming
conversion of Reporting Person's derivative securities.
ELAN INTERNATIONAL SERVICES, LTD.
By: /s/
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Kevin Insley Date
Director
** 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.
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SEC 1473 (3/94)
