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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
THE ASHTON TECHNOLOGY GROUP, INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
045084-11-8
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(CUSIP Number)
Steven Morse, Esq.,
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Lester Morse P.C.,
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111 Great Neck Rd., Great Neck, NY 11021
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(516-487-1446)
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
May 31, 1996
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [ ]. (A fee
is not required only if the reporting 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.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are sent.
*The remainder of this cover p[age 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
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act
("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).
<PAGE>
SCHEDULE 13D
<TABLE>
<S> <C>
CUSIP No. 045084-11-8 Page 2 of 4 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Dover Group, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Not Applicable.
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY -------------------------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING
PERSON
WITH -------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
260,000
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10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
260,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.0%
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14 TYPE OF REPORTING PERSON*
CO *SEE INSTRUCTIONS BEFORE FILLING OUT!
- -----------------------------------------------------------------------------------------------
</TABLE>
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 045084-11-8 Page 3 of 4 Pages
Item 1. Security and Issuer
- ------
This statement relates to the shares of Common Stock, $.01 par value, of
The Ashton Technology Group, Inc. (the "Issuer"). The Issuer's principal
executive office is located at 10420 Little Patuxent Parkway, Suite 490,
Columbia, Maryland 21044-3559.
Item 2. Identity and Background
- ------
The Dover Group, Inc.
---------------------
(a) The Dover Group, Inc.
(b) 17 Route 37 East
Toms River, New Jersey 08753
(c) Principal stockholder of the Issuer.
(d) Not applicable.
(e) Not applicable.
(f) Delaware
Item 3. Source and Amount of Funds or Other Consideration
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Not Applicable.
Item 4. Purpose of Transactions
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Not Applicable.
Item 5. Interest in Securities of the Issuer
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(a) - (b) As of May 31, 1996, the Issuer has 3,232,500 Redeemable
Common Stock Purchase Warrants issued and outstanding, of which 260,000 or
8.0% are owned by Dover. Dover has the sole dispositive power over these
warrants,. The warrants do not have any voting rights until the warrants
are exercised. The warrants are not exercisable until May 2, 1997.
(c) In May 1996, The Dover Group, Inc. sold 240,000 warrants at
prices ranging from $8.13 to $8.81 per warrant.
(d) - (e) Not Applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
- -------
to the Securities of the Issuer
Not Applicable.
Item 7. Materials to be filed as Exhibits
- -------
Not applicable
<PAGE>
SCHEDULE 13D
CUSIP No. 045084-11-8 Page 4 of 4 Pages
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.
Dated: July 9, 1996
Reporting Person: The Dover Group, Inc.
Signature By: /s/ Dr. F. E. Weimmer Jr.
---------------------------------
(authorized officer)
