FORM 4 OMB APPROVAL
[_] Check this box if no longer ----------------------------
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Henry George H.
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(Last) (First) (Middle)
6860 Sunrise Court
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(Street)
Coral Gables Florida 33647
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
The Recovery Network, Inc. (RNET)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
October/1997
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
[X] Director [X] 10% Owner
[X] Officer (give [X] Other (specify
title below below)
Chairman of the Board of Directors
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7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[_] Form filed by More than One Reporting Person
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TABLE I-- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF,
OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
====================================================================================================================================
1. Title of 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature of
Security action action or Disposed of (D) Securities ship Indirect
(Instr. 3) Date Code (Instr. 3, 4 and 5) Beneficially Form: Beneficial
(Instr.8) Owned at Direct Owner-
End of Month (D) or ship
(Month/ Indirect
Day/ (I)
Year) ---------------------------------------------
(A) or
Code V Amount (D) Price (Instr.3 and 4) (Instr.4) (Instr.4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
Common Stock, 10/7/97 P 10,000 (A) (1) --
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Common Stock, 10/7/97 P 10,000 (A) (2) 233,768 (D)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see
Instruction 4(b)(v).
(Over)
SEC 1474 (7-96)
<PAGE>
FORM 4 (continued)
Table II-- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
PART 1 OF 2
===================================================================================================================================
1.Title of 2.Conver- 3.Trans- 4.Trans- 5.Number of Deriv- 6.Date Exer- 7.Title and Amount of 8.Price
Derivative sion or action action ative Securities Ac- cisable and Underlying Securities of
Security Exercise Date Code quired (A) or Dis- Expiration (Instr.3 and 4) Deriv-
(Instr. 3) Price of (Instr. 8) posed of (D) Date ative
Deri- (Month/ (Instr.3, 4, and 5) (Month/Day/ Secur-
vative Day/ Year) ity
Security Year) (Instr.
5)
Date Expira- Amount or
Exer- tion Title Number of
cisable Date Shares
Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Warrants to
purchase
Common Stock $5.50 10/7/97 P 10,000 (1) 9/29/02 Common Stock 10,000 (1)
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Warrants to
purchase
Common Stock $5.50 10/16/97 P 10,000 (2) 9/29/02 Common Stock 10,000 (2)
===================================================================================================================================
</TABLE>
PART 2 OF 2
===================================================
9.Number 10.Owner- 11. Nature
of deriv- ship of
ative Form of Indirect
Secur- Deriv- Benefi-
ities ative cial
Bene- Security: Owner-
ficially Direct ship
Owned (D) or (Instr. 4)
at End Indirect
of (I)
Month (Instr. 4)
(Instr. 4)
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-- -- --
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20,000 (D) --
- --------------------------------------------------
===================================================
Explanation of Responses:
(1) The reported securities are included in 10,000 RNET Units purchased by
the reporting person for $5.9375 per unit. Each Unit consists of one
share of Common Stock and one Warrant to purchase one share of Common
Stock.
(2) The reported securities are included in 10,000 RNET Units purchased by
the reporting person for $6.25 per Unit. Each Unit consists of one share
of Common Stock and one Warrant to purchase one share of Common Stock.
(3) Warrants may be exercised on the earlier of December 28, 1997 and such
date as Whale Securities Co., L.P. consents.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If
space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
/S/ GREG RICHEY 11/10/97
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**Signature of Reporting Person Date
Attorney-in-fact
Page 2
SEC 1474 (7-96)
