IMAGE GUIDED TECHNOLOGIES INC
SC 13G/A, 1997-02-14
MEASURING & CONTROLLING DEVICES, NEC
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<PAGE>
                                       
                                UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, D.C. 20549

                                SCHEDULE 13G

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

                       Image Guided Technologies, Inc.
                     ----------------------------------
                              (Name of Issuer)

                         Common Stock, no par value
                     ----------------------------------
                       (Title of Class of Securities)

                                451922 10 8
                     ----------------------------------
                              (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 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).


                        (Continued on following page(s))


                              Page 1 of  4  Pages
                                        --- 

<PAGE>

CUSIP No. 451922 10 8                 13G                 Page  2  of  4  Pages
          -----------                                          ---    --- 

- -------------------------------------------------------------------------------
 (1) Names of Reporting Persons.  
     S.S. or I.R.S. Identification Nos. of Above Persons

     Waldean Schulz
- -------------------------------------------------------------------------------
 (2) Check the Appropriate Box if a Member     (a)  / /
     of a Group*                               (b)  / /
- -------------------------------------------------------------------------------
 (3) SEC Use Only

- -------------------------------------------------------------------------------
 (4) Citizenship or Place of Organization
     U.S.A.
- -------------------------------------------------------------------------------
Number of Shares              (5) Sole Voting
 Beneficially                       Power             170,229
 Owned by                    --------------------------------------------------
 Each Reporting               (6) Shared Voting
 Person With                        Power             N/A
                             --------------------------------------------------
                              (7) Sole Dispositive
                                    Power             170,229
                             --------------------------------------------------
                              (8) Shared Dispositive
                                    Power             N/A
- -------------------------------------------------------------------------------
 (9) Aggregate Amount Beneficially Owned by Each Reporting Person
     170,229
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*

- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
     5.45
- -------------------------------------------------------------------------------
(12) Type of Reporting Person*
     IN
- -------------------------------------------------------------------------------
                    *SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>

                                                          Page  3  of  4  Pages
                                                               ---    --- 


ITEM 1(A).  NAME OF ISSUER
            Image Guided Technologies, Inc.
- -------------------------------------------------------------------------------


ITEM 1(B).  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
            5710-B Flatiron Parkway
            Boulder, CO 80301
- -------------------------------------------------------------------------------


ITEM 2(A).  NAME OF PERSON(S) FILING
            Waldean Schulz
- -------------------------------------------------------------------------------


ITEM 2(B).  ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
            5710-B Flatiron Parkway
            Boulder, CO 80301
- -------------------------------------------------------------------------------


ITEM 2(C).  CITIZENSHIP
            U.S.A.
- -------------------------------------------------------------------------------


ITEM 2(D).  TITLE OF CLASS OF SECURITIES
            Common Stock, no par value
- -------------------------------------------------------------------------------


ITEM 2(E).  CUSIP NUMBER
            451922 10 8
- -------------------------------------------------------------------------------


ITEM 3.  IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(b), OR 13D-2(b),
         CHECK WHETHER THE PERSON FILING IS A
         N/A

<PAGE>
                                                          Page  4  of  4  Pages
                                                               ---    --- 

ITEM 4.  OWNERSHIP

    (a) Amount Beneficially Owned:
        170,229
    ---------------------------------------------------------------------------

    (b) Percent of Class:
        5.45%
    ---------------------------------------------------------------------------

    (c) Number of shares as to which such person has:

          (i) sole power to vote or to direct the vote
              170,229
              -----------------------------------------------------------------
         (ii) shared power to vote or to direct the vote
              N/A
              -----------------------------------------------------------------
        (iii) sole power to dispose or to direct the disposition of
              170,229
              -----------------------------------------------------------------
         (iv) shared power to dispose or to direct the disposition of
              N/A
              -----------------------------------------------------------------

ITEM 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
         N/A
- -------------------------------------------------------------------------------


ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
         N/A
- -------------------------------------------------------------------------------


ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
         THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
         N/A
- -------------------------------------------------------------------------------


ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
         N/A
- -------------------------------------------------------------------------------


ITEM 9.  NOTICE OF DISSOLUTION OF GROUP
         N/A
- -------------------------------------------------------------------------------


ITEM 10. CERTIFICATION

    By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.

                                  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.
                                       February 13, 1997
                                       ----------------------------------------
                                       (Date)
                                       /s/ WALDEAN SCHULZ
                                       ----------------------------------------
                                       (Signature)
                                       Waldean Schulz
                                       ----------------------------------------
                                       (Name/Title)




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