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OMB Number 3235-0104
Expires: September 30, 1998
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FORM 3
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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
Wraight Christopher L.
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(Last) (First) (Middle)
2700 Westchester Ave.
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(Street)
Purchase NY 10577
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(City) (State) (Zip)
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2. Date of Event Requiring Statement
(Month/Day/Year)
05/02/1998
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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
Spectrum Information Technologies Inc. (SITI)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
Director 10% Owner
----- -----
X Officer (give ----- Other (specify
----- title below) below)
Vice President - Marketing
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6. If Amendment, Date of Original
(Month/Day/Year)
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7. Individual or Joint/Group Filing
(Check Applicable Line)
X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
Table I -- Non-Derivative Securities Beneficially Owned
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1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Beneficial Ownership
(Instr. 4) Indirect (I) (Instr. 5)
(Instr. 5)
- ------------------- ----------------------- ----------------- -----------------------
- ----------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly
* If the form is filed by more than one reporting person, see
Instruction 5(b)(v).
</TABLE>
SEC 1473 (7-96)
PAGE: 1 OF 2
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially
Owned (e.g. puts, calls, warrants, options, convertible
securities)
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
==================================================================================================================================
1. Title of Derivative 2. Date Exercisable and 3. Title and Amount of Sec- 4. Conversion or 5. Ownership 6. Nature of
Security Expiration Date urities Underlying Deriva- Exercise Price Form of Indirect
(Instr. 4) (Month/Day/Year) tive Security (Instr. 4) of Derivative Derivative Beneficial
-------------------- -------------------------- Security Security: Ownership
Date Expir- Amount or Direct (D) (Instr.5)
Exerci- ation Number of or Indirect
sable Date Title Shares (I)
(Instr. 5)
------------------ ------- ------- ----- ------------ -------------- ---------- ---------
Stock Option 06/30/1998 02/27/2008 Common Stock 20,000 $1.5000 D
(01)
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
(01) One-half of the stock options vest in eight equal quarterly
installments through the fiscal year ended March 31, 2000.
One-half of the stock options are subject to the achievement
of defined performance objectives for the fiscal year ended
March 31, 1999.
/s/ Christopher L. Wraight
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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).
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 informations
contained in this form are not required to respond unless the form
displays a currently valid OMB Number.
SEC 1473 (7-96)
Wraight, Christopher L Spectrum Information Technologies Inc.
05/02/1998 PAGE 2 OF 2
