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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_____)*
Eurotech, Ltd.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, .00025 par value
--------------------------------------------------------------------------------
(Title of Class of Securities)
2987610
--------------------------------------------------------------------------------
(CUSIP Number)
Peter Gulko, 976 Farm Haven Dr., Rockville, MD 20852, (301) 770-9175
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 3, 2000
--------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and
is filing this schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box. [ ]
NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits.
Seess.240.13d-7 for other parties to whom copies are to be sent.
<PAGE>
CUSIP No. 29879610 13D Page 2 of 5 Pages
________________________________________________________________________________
1. Name of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Peter Gulko d/b/a/ CIS Development Corp. No. I.R.S. Identification No.
________________________________________________________________________________
2. Check the Appropriate Box If a Member of a Group (See Instructions)
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC Use Only
________________________________________________________________________________
4. Source of Funds (See Instructions)
PF
________________________________________________________________________________
5. Check If Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) [_]
________________________________________________________________________________
6. Citizenship or Place of Organization
Peter Gulko is a U.S. citizen
________________________________________________________________________________
7. Sole Voting Power
NUMBER OF 3,530,000
SHARES _________________________________________________________________
BENEFICIALLY 8. Shared Voting Power
OWNED BY
EACH _________________________________________________________________
REPORTING 9. Sole Dispositive Power
PERSON 3,530,000
WITH _________________________________________________________________
10. Shared Dispositive Power
________________________________________________________________________________
11. Aggregate Amount Beneficially Owned by Each Reporting Person
3,530,000
________________________________________________________________________________
12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [_]
________________________________________________________________________________
13. Percent of Class Represented by Amount in Row (11)
8%
________________________________________________________________________________
14. Type of Reporting Person (See Instructions)
IN
________________________________________________________________________________
<PAGE>
CUSIP No. 29879610 13D Page 3 of 5 Pages
________________________________________________________________________________
1. Name of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Peter Gulko
________________________________________________________________________________
2. Check the Appropriate Box If a Member of a Group (See Instructions)
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC Use Only
________________________________________________________________________________
4. Source of Funds (See Instructions)
PF
________________________________________________________________________________
5. Check If Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) [_]
________________________________________________________________________________
6. Citizenship or Place of Organization
United States citizen
________________________________________________________________________________
7. Sole Voting Power
NUMBER OF 3,530,000
SHARES _________________________________________________________________
BENEFICIALLY 8. Shared Voting Power
OWNED BY
EACH _________________________________________________________________
REPORTING 9. Sole Dispositive Power
PERSON 1,110,000
WITH _________________________________________________________________
10. Shared Dispositive Power
________________________________________________________________________________
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,110,000
________________________________________________________________________________
12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [_]
________________________________________________________________________________
13. Percent of Class Represented by Amount in Row (11)
2.5%
________________________________________________________________________________
14. Type of Reporting Person (See Instructions)
IN
________________________________________________________________________________
<PAGE>
CUSIP No. 29879610 Page 4 of 5 Pages
--------------------------------------------------------------------------------
ITEM 1. SECURITY AND ISSUER
Not amended
ITEM 2. IDENTITY AND BACKGROUND
CIS Development Corp. ("CIS") is a trade name used by Peter Gulko, an
individual. Mr. Gulko, in turn, holds the shares of the Company registered in
the name of CIS for the benefit of European-Asian Physical Society, a Russian
voluntary organization ("EAPS"), in EAPS' capacity as representative of a number
of Russian scientists, researchers and academics who developed and continue to
develop certain technologies licensed to the Company.
Item 2 is not otherwise amended.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
On May 3, 2000, Mr. Gulko sold back to the Company, for $2,000,000 cash,
1,000,000 shares of the shares registered in the name of CIS that he acquired in
the transaction with respect to which his original report on Schedule 12D was
filed.
Item 3 is not otherwise amended.
ITEM 4. PURPOSE OF THE TRANSACTION
The purpose of the sale of the 1,000,000 shares was to raise cash for the
benefit of the persons entitled thereto.
Item 4 is not otherwise amended.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) Peter Gulko owns in the name of CIS 3,530,000 shares, or 8%, of the
Company's common stock.
Peter Gulko owns in his own name 1,110,000 shares, or 2.5%, of the
Company's common stock
The above percentages are based on 43,957,800 shares of the Company's common
stock, which is the 42,957,800 shares outstanding as of April 21, 2000, as
disclosed in its definitive proxy statement filed on April 28, 2000, plus
2,000,000 shares sold by the Company subsequent to that date, as so disclosed,
minus the 1,000,000 CIS-registered shares sold back to the Company in the
transaction with respect to which this amendment is filed.
<PAGE>
CUSIP No. 29879610 Page 5 of 5 Pages
--------------------------------------------------------------------------------
(b) Not amended.
(c) Not amended.
(d) Not amended.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Not amended.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
None.
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/ Peter Gulko
----------------------------------
Peter Gulko
May 9, 2000
