UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
( ) Form 3 Holdings Reported
( ) Form 4 Transactions Reported
1. Name and Address of Reporting Person
Consolidated Technology Group, Ltd.
160 Broadway
Suite 901
New York, NY 10038
2. Issuer Name and Ticker or Trading Symbol
Netsmart Technologies, Inc.
NTST
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
December 1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Reporting (Check Applicable Line)
( ) Form filed by One Reporting Person
(X) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par value $.01 | | | | | |992,624(1) |I |(2) |
per share | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Series B Common Stock Pu|$6.00 | | | | |02/13|12/31|Common Stock|5,000 |$6.00 |5,000 |I |(2) |
rchase Warrants (3) | | | | | |/97 |/99 | | | | | | |
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Series B Common Stock Pu|$12.00 | | | | |02/13|12/31|Common Stock|183,333|$12.00 |183,333 |I |(2) |
rchase Warrants (3) | | | | | |/97 |/99 | | | | | | |
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Explanation of Responses:
(1) The number of shares reflects the Issuer's one-for-three reverse split
which became effective September 14,
1998.
(2) Owned by SIS Capital Corp., a wholly-owned subsidiary of Consolidated
Technology Group Ltd.
(3) The number of shares and exercise price reflects the Issuer's
one-for-three reverse split which became
effective September 14,
1998.
(4) The Reporting Persons for this filing are Consolidated Technology Group
Ltd. and SIS Capital Corp., a
wholly-owned subsidicary of Consolidated Technology Group
Ltd.
SIGNATURE OF REPORTING PERSON
/s/George Mahoney, Chief Financial Officer
DATE
May 3, 1999
