FORM 10-C
Securities and Exchange Commission
Washington, DC 20549
Report by issuer of securities quoted on The Nasdaq Stock Marketsm, filed
pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 and Rule
13a-17 or 15d-17 thereunder.
EXACT NAME OF ISSUER AS SPECIFIED IN CHARTER: INDUSTRIAL HOLDINGS, INC.
ADDRESS OF PRINCIPAL EXECUTIVE OFFICES: 7135 ARDMORE HOUSTON, TX 77054
ISSUER'S TELEPHONE NUMBER (INCLUDING AREA CODE): (713) 747-1025
I. Change in Number of Shares Outstanding
Indicate any change (increase or decrease)of five percent or more in the number
of shares outstanding:
1. Title of security COMMON STOCK
2. Number of shares outstanding before the change 3,396,162
3. Number of shares outstanding after the change 3,611,162
4. Effective date of change MAY 17, 1996
5. Method of change DEBT CONVERSION
Specify method (such as merger, acquisition, exchange, distribution, stock
split, reverse split, acquisition of stock for treasury, etc.) DEBT CONVERSION
Give brief description of transaction ST. JAMES CAPITAL PARTNERS, L.P. CONVERTED
A CONVERTIBLE PROMISSORY NOTE TO COMMON STOCK AT A CONVERSION PRICE OF $3.74.
II. Change in Name of Issuer
1. Name prior to change____________________________
2. Name after change_______________________________
3. Effective date of charter amendment changing name______________________
4. Date of shareholder approval of change, if required____________________
JULY 18, 1996 /s/ CHRISTINE A. SMITH , CHIEF FINANCIAL OFFICER
- ------------- --------------------------------------------
DATE OFFICERS SIGNATURE AND TITLE
<PAGE>
