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
____________________________________________________________________________
1. Name and Address of Reporting Person
WEXFORD MANAGEMENT LLC
(Last) (First) (Middle)
411 West Putnam Avenue, Suite 125
_________________________________________________________________________
(Street)
Greenwich Connecticut 06830
_________________________________________________________________________
(City) (State) (Zip)
____________________________________________________________________________
2. Date of Event Requiring Statement (Month/Day/Year)
November 12, 1997
____________________________________________________________________________
3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
____________________________________________________________________________
4. Issuer Name and Ticker or Trading Symbol
Industrial Imaging Corporation (INIM)
____________________________________________________________________________
5. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER (CHECK ALL APPLICABLE)
( ) DIRECTOR
(X ) 10% OWNER
( ) OFFICER (GIVE TITLE BELOW)
( ) OTHER (SPECIFY TITLE BELOW)
_____________________________________
____________________________________________________________________________
6. IF AMENDMENT, DATE OF ORIGINAL (MONTH/DAY/YEAR)
____________________________________________________________________________
7. INDIVIDUAL OR JOINT/GROUP FILING (CHECK APPLICABLE LINE)
___FORM FILED BY ONE REPORTING PERSON
_x_FORM FILED BY MORE THAN ONE REPORTING PERSON
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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, 3,000,000 shares Indirect By Management
par value .01 per share
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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 Security (Instr. 4)
Common Stock Purchase Warrants
____________________________________________________________________________
2. Date Exercisable and Expiration Date (Month/Day/Year)
11/12/97 11/11/02
Date Exercisable Expiration Date
____________________________________________________________________________
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
Common Stock, par value .01 per share 250,000
Title Amount of Number of Shares
____________________________________________________________________________
4. Conversion or Exercise Price of Derivative Security
$1.00 per share
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5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)(Instr. 5)
Indirect
____________________________________________________________________________
6. Nature of Indirect Beneficial Ownership (Instr. 5)
By Management
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1. Title of Derivative Security (Instr. 4)
Common Stock Purchase Warrants
____________________________________________________________________________
2. Date Exercisable and Expiration Date (Month/Day/Year)
11/21/97 11/20/02
Date Exercisable Expiration Date
____________________________________________________________________________
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
Common Stock, par value .01 per share 750,000
Title Amount of Number of Shares
____________________________________________________________________________
4. Conversion or Exercise Price of Derivative Security
$1.00 per share
____________________________________________________________________________
5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)(Instr. 5)
Indirect
____________________________________________________________________________
6. Nature of Indirect Beneficial Ownership (Instr. 5)
By Management
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1. Title of Derivative Security (Instr. 4)
Common Stock Purchase Warrants
____________________________________________________________________________
2. Date Exercisable and Expiration Date (Month/Day/Year)
11/12/97 11/11/02
Date Exercisable Expiration Date
____________________________________________________________________________
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
Common Stock, par value .01 per share 250,000
Title Amount of Number of Shares
____________________________________________________________________________
4. Conversion or Exercise Price of Derivative Security
$2.00 per share
____________________________________________________________________________
5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)(Instr. 5)
Indirect
____________________________________________________________________________
6. Nature of Indirect Beneficial Ownership (Instr. 5)
By Management
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1. Title of Derivative Security (Instr. 4)
Common Stock Purchase Warrants
____________________________________________________________________________
2. Date Exercisable and Expiration Date (Month/Day/Year)
11/21/97 11/20/02
Date Exercisable Expiration Date
____________________________________________________________________________
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
Common Stock, par value .01 per share 750,000
Title Amount of Number of Shares
____________________________________________________________________________
4. Conversion or Exercise Price of Derivative Security
$1.00 per share
____________________________________________________________________________
5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)(Instr. 5)
Indirect
____________________________________________________________________________
6. Nature of Indirect Beneficial Ownership (Instr. 5)
By Management
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EXPLANATION OF RESPONSES:
WEXFORD MANAGEMENT LLC
** SIGNATURE OF REPORTING PERSON
By: /s/ Arthur H. Amron December 15, 1997
Name: Arthur H. Amron DATE
Title: Senior Vice President
_____________________________
** 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
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOR REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB NUMBER.
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ATTACHMENT TO FORM 3
Name of designated filer: Wexford Management LLC
Name of joint filer: Joseph M. Jacobs
Address of joint filer: c/o Wexford Management LLC
411 West Putnam Avenue
Greenwich, Connecticut 06830
Date of event requiring
filing: November 12, 1997
Issuer Name and
Ticker or Trading Symbol: Industrial Imaging
Corporation (INIM)
/s/ Joseph M. Jacobs December 15, 1997
** Signature of Reporting Person Date
ATTACHMENT TO FORM 3
Name of designated filer: Wexford Management LLC
Name of joint filer: Charles E. Davidson
Address of joint filer: c/o Wexford Management LLC
411 West Putnam Avenue
Greenwich, Connecticut 06830
Date of event requiring
filing: November 12, 1997
Issuer Name and
Ticker or Trading Symbol: Industrial Imaging
Corporation (INIM)
/s/ Charles E. Davidson December 15, 1997
** Signature of Reporting Person Date
