UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
RUSHING, JAMES C. (III)
c/o Isolyser Company, Inc.
4320 International Boulevard
Norcross, GA 30093
2. Date of Event Requiring Statement (Month/Day/Year)
March 25, 1999
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Isolyser Company, Inc.
OREX
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Vice President - Finance
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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<S> <C> <C> <C>
Common Stock, $.001 par value |None |None | |
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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<S> <C> <C> <C> <C> <C> <C> <C>
Stock Option |(1) |12-16-08 |Common Stock |20,000 |$1.09375 |D | |
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Stock Option |(2) |2-26-09 |Common Stock |5,000 |$2.125 |D | |
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</TABLE>
Explanation of Responses:
(1) Exercisable in 25% increments over four years beginning on
12-16-99.
(2) Exercisable in 25% increments over four years beginning on
2-26-00.
SIGNATURE OF REPORTING PERSON
JAMES C. RUSHING, III
DATE
March 30, 1999
