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                  SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549



                             SCHEDULE 13G


               Under the Securities Exchange Act of 1934
                          (Amendment No. ___)*


                      THE SINGING MACHINE COMPANY, INC.
- ---------------------------------------------------------------------
                           (Name of Issuer)


                        Common Stock - $.01 PAR VALUE
- ---------------------------------------------------------------------
                    (Title of Class of Securities)


                829322106 (Common Stock) 829322114 (Warrants)
                --------------------------------------------
                            (CUSIP Number)


Check the following box if a fee is being paid with this statement
_____.  (A fee is not required only if the filing person: (1) has a
previous statement on file reporting beneficial ownership of more than
five percent of the class of securities described in Item 1; and (2)
has filed no amendment subsequent thereto reporting beneficial ownership
of five percent or less of such class.)  (See Rule 13d-7).

*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the
liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).
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CUSIP No. 829322106 (Common Stock) 829322114 (Warrants)
- -------------------------------------------------------

1.   NAME OF REPORTING PERSON
     S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

        370975072
     ----------------------------------------

2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     _________________________________________

3.   SEC USE ONLY

4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     an Iowa corporation
     ------------------------------------------

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

5.   SOLE VOTING POWER

     1,084,880
     ------------------------------------------

6.   SHARED VOTING POWER

     0
     ------------------------------------------
7.   SOLE DISPOSITIVE POWER

     1,084,880
     ------------------------------------------
8.   SHARED DISPOSITIVE POWER

     0
     ------------------------------------------

9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     1,084,880
     ------------------------------------------

10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
     SHARES*

     n/a
     ------------------------------------------

11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     32.74
     ------------------------------------------

12.  TYPE OF REPORTING PERSON*

     BD, CO
     ------------------------------------------
___________________________
*SEE INSTRUCTION BEFORE FILLING OUT!
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                  SECURITIES AND EXCHANGE COMMISSION
                        WASHINGTON, D.C.  20549


                             SCHEDULE 13-G
        Information Statement Pursuant to Rules 13d-1 and 13d-2
                           (Amendment No. __)


Item 1 (a)     NAME OF ISSUER:

               The Singing Machine Company, Inc.

Item 1 (b)     ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

               1551 W. Copans Road
               Suite 100
               Pompano, Florida  33064

Item 2 (a)     NAME OF PERSON FILING:

               JW Charles Clearing Corp. (a wholly owned subsidiary of
               JW Charles Financial Services, Inc.)

Item 2 (b)     ADDRESS OF PRINCIPAL BUSINESS OFFICE:

               980 North Federal Highway, #310
               Boca Raton, Florida  33432

Item 2 (c)     CITIZENSHIP:

               an Iowa Corporation

Item 2 (d)     TITLE OF CLASS OF SECURITIES:

               Common Stock, Warrants

Item 2 (e)     CUSIP NUMBER:

               829322106 (Common Stock) 829322114 (Warrants)

Item 3         Statements Filed Pursuant to Rules 13d-1(b) or 13d-
               2(b):

               JW Charles Clearing Corp. is a broker dealer registered under
               Section 15 of the Act.

Item 4 (a)     AMOUNT BENEFICIALLY OWNED:

               1,084,880

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Item 4 (b)     PERCENT OF CLASS:

               32.74

Item 4 (c)     NUMBER OF SHARES AS TO WHICH REPORTING PERSON HAS:

               (i)    Sole power to vote or to direct vote:   1,084,880

               (ii)   Shared power to vote or to direct the vote: 0

               (iii)  Sole power to dispose or to direct the
                      disposition of:  1,084,880

               (iv)   Shared power to dispose or to direct the
                      disposition of:  0

Item 5    OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
          __________________________________

Item 6    OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
          PERSON:
          _______________________________

Item 7    IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
          ACQUIRES THE SECURITY BEING REPORTED ON BY THE PARENT
          HOLDING COMPANY:
          _______________________________

Item 8    IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
          ________________________________

Item 9    NOTICE OF DISSOLUTION OF GROUP:
          _______________________________

Item 10   CERTIFICATION:
          _______________________________
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                               SIGNATURE


     After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is
true, complete and correct.




                               /s/ Joel E. Marks
                              -------------------------------------
                              Joel E. Marks



Dated:  January 29, 1998