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OMB APPROVAL
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- -------- OMB Number: 3235-0104
FORM 3 Expires: September 30, 1998
- -------- Estimated average burden
hours per response .... 0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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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<S> <C> <C> <C>
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1. Name and Address of Reporting Person* 2. Date of Event Requiring 4. Issuer Name and Ticker or 6. If Amendment, Date
Shanklin William L. Statement Trading Symbol of Original
- ---------------------------------------- (Month/Day/Year) ABC Dispensing Technologies, (Month/Day/Year)
(Last) (First) (Middle) 12/15/97 Inc. (ABCC)
1921 Basswood Drive ---------------------------- ------------------------------
- ---------------------------------------- 3. IRS or Social Security 5. Relationship of Reporting 7. Individual or Joint/
(Street) Number of Reporting Person(s) to Issuer Group Filing (Check
Person (Voluntary) (Check all applicable.) Applicable Line)
X Director ___ 10% Owner X Form filed by One
Kent Ohio 44240 ___ Officer ___ Other Reporting Person
- -------------------------------------- ---------------------------- (give title below) (specify below) __ Form filed by More
(City) (State) (Zip) than One Reporting
--------------------------- Person
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TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Beneficial
(Instr. 4) Indirect (I) Ownership (Instr. 5)
(Instr. 5)
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Common Stock 1,170 shares D
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Common Stock 25,000 shares I Immediate right to acquire
pursuant to conversion of
Convertible Preferred Stock
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Common Stock 25,000 shares I Immediate right to acquire
pursuant to Stock Option
Agreement
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Common Stock 10,000 shares I Immediate right to acquire
pursuant to Stock Option
Agreement
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Common Stock 62,500 shares I Right to acquire on 1/15/98
pursuant to conversion of
Convertible Preferred Stock
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Common Stock 62,500 shares I Right to acquire on 1/15/98
pursuant to Stock Option
Agreement
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Convertible Preferred Stock 25,000 shares D
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Convertible Preferred Stock 62,500 shares I Will acquire on 1/15/98
pursuant to Consulting
Agreement
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
(Print or Type Responses) SEC 1473 (8/92)
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FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security 2. Date 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) Exercisable and Securities Underlying sion or ship Beneficial Ownership
Expiration Date Derivative Security Exercise Form of (Instr. 5)
(Month/Day/ (Instr. 4) Price of Deriv-
Year) Deri- ative
vative Security:
Security Direct
------------------------------------------------- (D) or
Date Expira- Amount of Indirect (I)
Exercis- tion Title Number (Instr. 5)
able Date of Shares
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Stock Option 2/24/97 2/24/02 Common Stock 25,000 $1.25 D
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Stock Option 9/7/96 9/7/01 Common Stock 10,000 $3.50 D
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Stock Option 1/15/98 1/15/03 Common Stock 62,500 $1.25 I See Note 2
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Convertible Preferred Stock 2/24/97 2/24/02 Common Stock 25,000 See Note 1 D
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Convertible Preferred Stock 1/15/98 1/15/03 Common Stock 62,500 See Note 1 I See Note 2
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Explanation of Responses:
(1) Each share of Convertible Preferred Stock is immediately convertible into one share of Common Stock
(2) Mr. Shanklin will acquire 62,500 shares of Convertible Preferred Stock and options to purchase 62,500 shares of
Common stock on January 15, 1998 pursuant to the terms of a Consulting Agreement dated 10/1/97.
**Intentional misstatements or omissions of facts constitute Federal Criminal /s/ William L. Shanklin 12/24/97
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------- -------------
**Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedure. Page 2
SEC 1473 (8/92)
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