SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-C
Report by Issuer of Securities Quoted
on NASDAQ Interdealer Quotation System
Filed pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
and Rule 13a-17 or 15d-17 thereunder
Electrosource, Inc.
(Exact name of issuer as specified in charter)
3800B Drossett Drive
Austin, Texas 78744-1131
(Address of principal executive offices)
Issuer's telephone number, including area code: (512) 445-6606
I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of 5% or more in
the number of shares outstanding:
1. Title of security: Common Stock, par value $.10 per share.
2. Number of shares outstanding before the change: 30,090,604
3. Number of shares outstanding after the change: 32,786,847
4. Effective date of change: January 23, 1996
5. Method of change:
Specify method (such as merger, acquisition, exchange,
distributions, stock split, reverse split, acquisition of stock
for treasury, etc.): Issuance of shares for cash, services or as
license payments in various transactions.
Give brief description of transaction: During the period of
January 10 and January 23, 1996, the Company issued an aggregate
of 2,581,799 shares of Common Stock upon the exercise of
Convertible Debentures under a November 10, 1995, placement. On
December 21, 1995, and January 23, 1996, the monthly commitment
of 47,222 shares were issued under the terms of a Technology
License Agreement. On January 23, 1996, the first quarterly
issuance of 20,000 shares of Common Stock were issued under the
terms of a consulting agreement dated September 1, 1995.
II. CHANGE IN NAME OF ISSUER
1. Name prior to change: Not Applicable.
2. Name after change: Not Applicable.
3. Effective date of charter amendment changing name: Not Applicable.
4. Date of shareholder approval of change, if required: Not Applicable.
Date: January 23, 1996
/s/ James M. Rosel
James M. Rosel, Vice President
(Officer's signature and title)
