U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utilitiy Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person
Gorlin Steve
(Last) (First) (Middle)
150 Gulf Shores Drive, #601
(Street)
Destin Florida 32541
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol: Advanced Aerodynamics &
Structures, Inc. AASI
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year: May and June 1998
5. If Amendment, Date of Original (Month/Day/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
/x / Director / / 10% Owner
/ / Officer (give title below) / / Other (Specify below)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficiallly
Owned
2. Transaction 3. Transaction 4. Securities Acquired
Date (Month/ Code (Instr. 8) (A) or Disposed (D)
1. Title of Security Day/Year) Code V (Instr. 3, 4 and 5)
(Instr. 3) Amount (A) or Price
(D)
*Units 5/8/98 P 2,415 A 7.25
*Units 5/11/98 P 3,400 A 7.37
*Units 5/12/98 P 3,400 A 7.75
*Units 5/13/98 P 785 A 7.37
*Units 6/30/98 P 4,000 A 7.37
5. Amount of 6. Ownership 7. Nature of Indirect
Securities Form: Direct Beneficial Ownership
Beneficially (D) or Indirect (Instr. 4)
Owned at End (I) (Instr. 4)
of Month
(Instr. 3 and 4)
17,415 D
20,815 D
24,215 D
25,000 D
29,000 D
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 5(b)(v).
<PAGE>
Table II: Derivative Security Beneficially Owned (e.g., puts, calls, warrants,
options, convertible securities)
2. Conversions 3. Transaction 4. Transaction Code
1. Title of Derivative or Exercise Price Date (Month/ (Instr. 8)
Security (Instr. 4) of Derivative Day/Year)
Security
Class A Warrants $6.50 5/8/98 P
Class B Warrants $8.75 5/8/98 P
Class A Warrants $6.50 5/11/98 P
Class B Warrants $8.75 5/11/98 P
Class A Warrants $6.50 5/12/98 P
Class B Warrants $8.75 5/12/98 P
Class A Warrants $6.50 5/13/98 P
Class B Warrants $8.75 5/13/98 P
Class A Warrants $6.50 6/30/98 P
Class B Warrants $8.75 6/30/98 P
5. Number of 6. Date Exercisable and
Derative Securities Expiration Date (Month/Day/Year)
Acquired (A) or
Disposed of (D) Date Exercisable Expiration Date
(Instr. 3, 4 and 5)
Amount (A) or (D)
2,415 A 5/8/98 12/3/2001
2,415 A 5/8/98 12/3/2001
3,400 A 5/11/98 12/3/2001
3,400 A 5/11/98 12/3/2001
3,400 A 5/12/98 12/3/2001
3,400 A 5/12/98 12/3/2001
785 A 5/13/98 12/3/2001
785 A 5/13/98 12/3/2001
4,000 A 6/30/98 12/3/2001
4,000 A 6/30/98 12/3/2001
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
Title Amount or Number
of Shares
Class A Warrants: Class A Common Stock 2,415
Class B Warrants 2,415
Class A Common Stock 3,400
Class B Warrants 3,400
Class A Common Stock 3,400
Class B Warrants 3,400
Class A Common Stock 785
Class B Warrants 785
Class A Common Stock 4,000
Class B Warrants 4,000
Class B Warrants: Class A Common Stock 2,415
Class A Common Stock 3,400
Class A Common Stock 3,400
Class A Common Stock 785
Class A Common Stock 4,000
Class B Warrants Class A Common Stock 2,415
(underlying Class A Class A Common Stock 3,400
Warrants) Class A Common Stock 3,400
Class A Common Stock 785
Class A Common Stock 4,000
8. Price of 9. Number of Derative
Derative Security Securities Beneficially
(Instr. 5) Owned at End of Month
(Instr. 4)
purchased as Class A Common Stock 40,000
part of Unit
10. Ownership Form 11. Nature of Indirect
of Derative Security: Beneficial Ownership
Direct (D) or Indirect (Instr. 4)
(I) (Instr. 4)
D
D
D
D
D
Explanation of Responses:
*Each Unit consists of one share of Class A Common Stock, $.0001 par value, one
redeemable Class A Warrant and one redeemable Class B Warrant. Each Class A
Warrant entitles the holder to purchase one share of Class A Common Stock and
one Class B Warrant at an exercise price of $6.50. Each Class B Warrant entitles
the holder to purchase one share of Class A Common Stock at an exercise price
of $8.75.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ Steve Gorlin
_____________________________
Signature of Reporting Person
