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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURIITES EXCHANGE ACT OF 1934
(AMENDMENT NO.__________)*
ADVANCED OXYGEN TECHNOLOGIES, INC.
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(NAME OF ISSUER)
COMMON
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(TITLE OF CLASS OF SECURITIES)
00754B 10 3
-------------------------------------------
(CUSIP NUMBER)
HARRY EDELSON
EDELSON TECHNOLOGY PARTNERS II, L.P.
300 TICE BOULEVARD, WOODCLIFF LAKE, NJ 07675
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED
TO RECEIVE NOTICES AND COMMUNICATIONS)
DECEMBER 31, 1997
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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[X]. (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 to be
sent.
*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
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 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).
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SCHEDULE 13D
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CUSIP NO. 00754B 10 3 PAGE 2 OF 6 PAGES
- ------------------------- -------------------------
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1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EDELSON TECHNOLOGY PARTNERS II, L.P.
#22-2848790
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
Edelson Technology Partners II is a limited partnership in which
Edelson Technology Associates II is the general partner
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3 SEC USE ONLY
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SOURCE OF FUNDS*
4
WC
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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
DE
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7 SOLE VOTING POWER
--
NUMBER OF ------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 614,666 shares
OWNED BY ------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING --
PERSON ------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
614,666 shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
614,666 shares
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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)
2.1%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
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CUSIP NO. 00754B 10 3 PAGE 3 OF 6 PAGES
- ------------------------- -------------------------
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1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EDELSON TECHNOLOGY ASSOCIATES II, L.P.
#22-2870457
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
Edelson Technology Associates II is a limited partnership in which
Harry Edelson is the general partner
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3 SEC USE ONLY
- --------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DE
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7 SOLE VOTING POWER
--
NUMBER OF ------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 614,666 shares
OWNED BY ------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING --
PERSON ------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
614,666 shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
614,666 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.1%
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14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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This Statement constitutes a Statement on Schedule 13D (the "Original
Statement") filed by Edelson Technology Partnership II, L.P., a Delaware limited
partnership ("Partnership II"), and Edelson Technology Associates II, L.P., a
Delaware limited partnership ("ETA II"), with respect to shares of Common Stock,
$.01 par value, of Advanced Oxygen Technologies, Inc.
Item 1. Security and Issuer. The Original Statement relates to Common
Stock of Advanced Oxygen Technologies, Inc., a Delaware corporation, Advanced
Oxygen Tech., c/o Crossfield Inc., 230 Park Ave., Suite 1000, New York, NY
10169.
Item 2. Identity and Background. (a) The name of the person filing the
Original Statement is Edelson Technology Partners II, L.P., a Delaware limited
partnership. Edelson Technology Associates II, L.P. is the sole general partner
of Partnership II. Harry Edelson ("Edelson") is the sole general partner of ETA
II.
(b) The address of the principal office of Partnership II is 300 Tice
Boulevard, Woodcliff Lake, NJ 07675. The address of Edelson is c/o
Edelson Technology Partners II, 300 Tice Boulevard, Woodcliff Lake, NJ
07675.
(c) Partnership II is an investment partnership organized under the laws
of the State of Delaware. The present principal employment of Edelson
is serving as general partner of Partnership II.
(d) Neither Partnership II nor, to the best of its knowledge, Edelson, has
been convicted in any criminal proceeding during the last five years
(excluding traffic violations or similar misdemeanors).
(e) During the last five years, neither Partnership II nor, to the best of
its knowledge, Edelson, has been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction as a result
of which any such person was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or
finding any violations with respect to such laws.
(f) Not applicable to Partnership II or ETA II. Edelson is a citizen of
the United States of America.
Item 3. Source and Amount of Funds or Other Consideration. In
consideration of the sale of 800,000 shares of common stock, purchasers paid to
Partnership II, the aggregate amount of US$10,000 and Partnership II and ETA II
shall be retained by Advanced Oxygen Technologies, Inc. as a consultant for one
month on an "as available" basis in consideration of 450,000 shares of common
stock of Advanced Oxygen Technologies, Inc.
Page 4 of 6 Pages
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Item 4. Purpose of Transaction. Partnership II acquired the securities
for investment purposes, and subsequent to the date hereof may acquire and/or
sell additional shares of Preferred, Common Stock and/or Warrants directly or
indirectly in open-market or privately negotiated transactions, depending upon
its evaluation of the performance and prospects of the Company, and upon other
developments and circumstances, including, but not limited to, general economic
and business conditions and stock market conditions. Partnership II does not
have any present plans or proposals which relate to or would result in any of
the following:
(a) Any extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Company;
(b) A sale or transfer of a material amount of assets of the Company;
(c) Any change in the present board of directors or management of the
Company, including any plans or proposals to change the number of
terms of directors or to fill any existing vacancies on the board;
(d) Any material change in the Company's business or corporate structure;
(e) Any other material change in the Company's business or corporate
structure;
(f) Changes in the Company's charter, by-laws or instruments
corresponding thereto or other actions which may impede the
acquisition or control of the Company by any person;
(g) Causing a class of securities of the Company to be delisted from a
national securities exchange or to cease to be authorized to be
quoted in an inter-dealer quotation system of a registered national
securities association;
(h) A class of equity securities of the Company becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the
Securities Exchange Act of 1934; or
(i) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer. (a) As of the date hereof,
the aggregate number of shares of Common Stock owned beneficially by Partnership
II is 614,666 shares which constitutes approximately 2.1% of the issued and
outstanding shares of Preferred and Common Stock of the Company. The foregoing
calculation of percentage ownership (a) is based upon information as to the
issued and outstanding shares of Common Stock of the Company as of December 18,
1997 furnished by the Company to Partnership II. Except for the Securities,
insofar as is known to Partnership II, none of the
Page 5 of 6 Pages
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persons named or referred to in response to Item 2 hereof owns any shares of
Preferred, Common Stock or Warrants.
(b) Partnership II and ETA II have shared voting, investment and
disposition power as to the Securities. Except for the Securities,
insofar as is known to Partnership II and ETA II, none of the
persons named or referred to in response to Item 2 hereof owns any
shares of Preferred, Common Stock or Warrants.
(c) Not Applicable.
(d) Not Applicable.
(e) Partnership II and ETA II ceased being beneficial owners of more
than 5% on December 22, 1997.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of Issuer. See Item 3.
Item 7. Not Applicable.
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.
1/9/98
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Date
EDELSON TECHNOLOGY PARTNERS II, L.P.
EDELSON TECHNOLOGY ASSOCIATES II, L.P.
By:/s/ HARRY EDELSON
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Harry Edelson, General Partner
