UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
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(Amendment No. 7) *
Advance Display Technologies, Inc. ("ADTI")
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(Name of Issuer)
Common Stock, $.001 par value per share
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(Title of Class of Securities)
007422306 5
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(CUSIP Number)
Lawrence F. DeGeorge, Jr. 3127 Casseckey Island Road
Jupiter, Florida 33477 (561) 747-8277
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
10/06/99
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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/A, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box _____.
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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CUSIP No. 007422306
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1 Name of Reporting Person
Lawrence F. DeGeorge, Jr.
2 Check the Appropriate Box if a Member of a Group a [ ] b [ ]
N/A
3 SEC USE ONLY
4 Source of Funds *
PF
5 Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) [ ]
6 Citizenship or Place of Organization
United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7 Sole Voting Power: 12,454,450
8 Shared Voting Power: --00--
9 Sole Dispositive Power: 12,454,450
10 Shared Dispositive Power: --00--
11 Aggregate Amount Beneficially Owned by Each Reporting Person: 12,454,450
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares * [ ]
13 Percent of Class Represented by Amount in Row (11): 38.86%
14 Type of Reporting Person *
IN
*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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Item 1: SECURITY AND ISSUER
This Schedule relates to the acquisition of beneficial ownership of Common
Stock, $.001 par value per share of Advance Display Technologies, Inc.
(hereinafter the "Company"), whose principal place of business is located
at 7334 So. Alton Way, Bldg. 14, Suite F, Englewood, Colorado 80112
Item 2: IDENTITY AND BACKGROUND
No additional information required.
Item 3: SOURCE OF FUNDS OR OTHER CONSIDERATION
Since the last amendment to Schedule 13D, the Reporting Person acquired
convertible promissory notes in the aggregate of $248,824 (the "Notes")
from the Company through private placement transactions. Such Notes are
immediately convertible into shares of the Company's Common Stock at the
rate of $.05 per share, at the election of the holder. The funds used to
acquire the Notes were the personal funds of the Reporting Person.
Item 4: PURPOSE OF TRANSACTION
The ownership which is the subject of this Schedule was acquired by Mr.
DeGeorge for the purpose of investment. Mr. DeGeorge has no plan to effect
any transaction which would have the effect of, or result in, any of the
following:
a. The acquisition by any person of additional securities of the Company,
or the disposition of securities of the Company; provided, however,
that the Reporting Person may review his investment in the Company
from time to time and make adjustments in his holdings as he deems
appropriate;
b. An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Company or any of its
subsidiaries;
c. A sale or transfer of a material amount of assets of the Company or of
any of its subsidiaries;
d. Any change in the present board of directors or management of the
Company, including any plans or proposals to change the number or term
of directors or to fill any existing vacancies on the board; provided,
Mr. DeGeorge was added to the Board of Directors effective September
2, 1998;
e. Any material change in the present capitalization or dividend policy
of the Company;
f. Any other material change in the Company's business or corporate
structure, including but not limited to, if the Company is a
registered closed-end investment company, any plans or proposals to
make any changes in its investment policy for which a vote is required
by Section 13 of the Investment Company Act of 1940; g. Changes in the
Company's charter, bylaws or instruments corresponding thereto or
other actions which may impede the acquisition of control of the
Company by any person;
g. Changes in the Company's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control
of the Company by any person;
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h. 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;
i. A class of equity securities of the Company become eligible for
termination of registration pursuant to Section 12(g)(4) of the
Securities Act of 1934; or
j. Any action similar to any of those enumerated above.
Item 5: INTEREST IN SECURITIES OF THE ISSUER
a. As of the date of the filing of this Schedule, Mr. DeGeorge is deemed
to beneficially own 12,454,450 shares of Common Stock of the Company.
Such amount includes 4,182,509 shares of Common Stock directly owned
by him and 8,271,941 shares of Common Stock underlying the Notes
described in Item 3 above. Such ownership represents 38.86% of the
issued and outstanding Common Stock of the Company.
b. Mr. DeGeorge has the sole power to vote and has sole dispositive right
with regard to the 12,454,450 shares of Common Stock.
c. On June 28, June 30 and October 6, 1999, the reporting person acquired
Notes which are immediately convertible into shares of the Company's
Common Stock at the rate of $.05 per share at the election of the
holder.
d. N/A
e. N/A
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
There are no contracts, arrangements, understandings or relationships of the
type required to be disclosed under this Item between the Reporting Person and
any other person.
Item 7: MATERIAL TO BE FILED AS EXHIBITS
There is no material required to be filed as exhibits to this Schedule.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in the Statement to Schedule 13D/A is true,
correct and complete.
/s/ Lawrence F. DeGeorge, Jr. Date: 11/09/1999
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Lawrence F. DeGeorge, Jr.
