LENDWAY, INC. — Director's Dealing 2007

May 25, 2007

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: INSIGNIA SYSTEMS INC/MN (ISIG)
CIK: 0000875355
Period of Report: 2007-05-23

Reporting Person: MacDonald Reid (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3700	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Qualified Stock Option (right to buy)	$3.75	2017-05-23	Common Stock (10000)		Direct