FORM 3
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
1. Name and Address of Reporting Person**
Grant Stephen
(Last) (First) (Middle)
3702 Wilho Rd.,
(Street)
Sorrento, BC, Can. V0E 1W0
(City)
(State) (Zip)
2. Date of Event Requiring Statement
(Month/Day/Year)
05/21/97
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
CHANNEL i INC. CHLI
5. Relationship of Reporting Person to Issuer
(Check all applicable)
_____Director __X__ 10%
Owner
_____Officer _____ Other
(give title below)
(specifybelow)
6. If Amendment, Date of Original
7. Individual or Joint/Group Filling
(Check applicable line)
___X_ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
*If Form is filed by more than one
Reporting Person, see Instruction 5(b)(v).
Table 1 - Non-Derivative Securities Beneficially Owned
1. Title of 2. Amount of 3. Ownership Form: 4. Nature of Indirect
Security Securities Direct (D) or Beneficial
(Instr. 4) Beneficially Indirect ( iI) Ownership
Owned(Instr. 4) Instr. 5) (Instr. 5)
Common Shares 40,000 Direct
N/A
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. ( Print or type Responses)
Page 1 of 2 Pages
(cont'd.)
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FORM 3(continued)
<TABLE>
<S> <C> <C> <C> <C> <C>
Table II - Derivative Securities Beneficially Owned (eg., puts, calls, warrants,
options, convertible securities)
1. Title of 2. Date Exercisable 3.Title and 4. Conversion or 5. Ownership Form 6. Nature of Indirect
Derivative and Expiration Amount of Exercise Price of of Derivative Beneficial Ownership
Security Date Securities Derivative Security: Security (Instr.5)
Instr. 4) (Month, Day, Year) Underlying Direct (D) or
Derivative Indirect (i)
(Instr.5)
</TABLE>
Date of Expiration
Anytime
Ex'rcisable Date
none
Title
Series B Voting
Conv'rtible Preferred Shares
Amt. or Number of Shares
6000,000 10:1 Direct Common Shares
N/A
Explanation of Responses:
Series B Voting Convertible Preferred Shares are convertible at the option of
the holder into Common Shares at a rate of 10 Common Shares for each Series B
Voting Convertible Preferred Share.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. _________________________________ May 26th, 1997. see 18 U.S.C. 1001
and 15 U.S.C. 78ff(a) ** Signature of Reporting Person Date
Note: File three (3) copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Page 2 of 2 pages.
