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FORM 4
[ ] Check this box if no ------------------------------------
longer subject to OMB APPROVAL
Section 16, Form 4 or ------------------------------------
Form 5 obligations may OMB Number 3235-0287
continue. See Instruction 1(b) Expires: September 30, 1998
Estimated average burden
hours per response .............0.5
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U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Brant Theodore R.
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(Last) (First) (MI)
1331 Twelfth Avenue, Suite 109 Gables Office Complex
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(Street)
Altoona, Pennsylvania 16601
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Aero Services International, Inc. (BFST)
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3. IRS or Social Security Number
of Reporting Person (Voluntary)
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4. Statement for Month/Year | 5. If Amendment, Date of
| Original (Month/Year)
January 1999 |
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6. Relationship of Reporting Person to Issuer (Check all applicable)
[ X ] Director [ X ] 10% Owner
[ X ] Officer [ ] Other (specify below)
(give title below)
President and CEO
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7. Individual or Joint/Group
X Form filed by one Reporting Person
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Form filed by more than one Reporting Person
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<PAGE>
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TABLE I - Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
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1. Title of Security | 2. Transaction Date | 3. Transaction Code | 4. Security Acquired (A) or Disposed
(Instr. 3) | (Month/Day/Year) | (Instr. 8) | of (D) (Instr. 3, 4 & 5)
| | |
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| | Code | V | Amount | (A) or| Price
| | | | | (D) |
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Common Stock | 12/18/98 | P | | 1,000,000 | A | (1)
===================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
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1. Title of Security | 5. Amount of Securities | 6. Ownership Form: | 7. Nature of Indirect Beneficial
(Instr. 3) | Beneficially Owned at | Direct (D) or | Ownership (Instr. 4)
| End of Month | Indirect (I) |
| (Instr. 3 & 4) | (Instr. 4) |
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Common Stock | 4,031,905 | I | (2)
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</TABLE>
<PAGE>
FORM 4 (continued)
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TABLE II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
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1. Title of Derivative Security | 2. Conversion or | 3. Transaction Date | 4. Transaction | 5. Number of Derivative
(Instr. 3) | Exercise Price of | (Month/Day/Year) | Code (Instr.| Securities Acquired
| Derivative Security | | 8) | (A) or Disposed of
| | | | (D) (Instr. 3, 4 & 5)
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| | | Code | V | (A) | (D)
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Series A Cumulative | (3) | 12/18/98 | P | | 134,539 |
Convertible Preferred Stock | | | | | |
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</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security | 6. Date Exercisable and | 7. Title and Amount of Underlying | 8. Price of Derivative
(Instr. 3) | Expiration Date | Securities (Instr. 3 & 4) | Security (Instr. 5)
| (Month/Day/Year) | |
| | |
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| Date | Expiration | Title | Amount or Number |
| Exercisable | Date | | of Shares |
| | | | |
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| | | | |
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Series A Cumulative | 12/18/98 | | Common | 538,156 | .7432
Convertible Preferred Stock | | | Stock | |
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security | 9. Number of Derivative | 10. Ownership Form of Derivative | 11. Nature of Indirect
(Instr. 3) | Securities Beneficially | Security: Direct (D) or | Beneficial Ownership
| Owned at End of Month | Indirect (1) (Instr. 4) | (Instr. 4)
| (Instr. 4) | |
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| | |
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Series A Cumulative | 103,540 | I | (2)
Convertible Preferred Stock | | |
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</TABLE>
Explanation of Responses:
(1) As of December 18, 1998, (a) Transtech exercised its rights as a holder of
Series A Stock to convert 125,000 shares of Series A Stock to Common Stock
at the contractural rate of four shares of Common Stock for each share of
Series A Stock converted by Transtech, and (b) Aero Services International,
Inc. issued 500,000 shares of Common Stock to Transtech in exchange for the
forgiveness of $314,862 of debt owed to Transtech by Aero Services
International, Inc.
(2) Mr. Brant is the President, Chief Executive Officer and a forty percent
shareholder of Transtech.
(2) Transtech converted the Series A Stock at the contractual rate of four
shares of Common Stock for each share of Series A Stock converted by
Transtech.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this form, one of which must be manually signed. If
space is insufficient, see Instruction 6 for procedure.
/s/ R. Theodore Brant January 8, 1999
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**Signature of Reporting Person Date
