UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 8) *
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)
David J. Babiarz, Esq., Overton, Babiarz & Associates, P.C.
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7720 East Belleview Avenue, Ste. 200, Englewood, CO 80111; (303) 779-5900
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
9/10/99
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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
S.S. or I.R.S. Identification No. of Above Person
Gene W. Schneider
2 Check the Appropriate Box if a Member of a Group: a X
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b
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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: 6,533,306
8 Shared Voting Power: 4,941,959
9 Sole Dispositive Power: 6,533,306
10 Shared Dispositive Power: 4,941,959
11 Aggregate Amount Beneficially Owned by Each Reporting Person:
11,475,265
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares *
13 Percent of Class Represented by Amount in Row (11): 37.86%
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 information required.
Item 3: SOURCE OF FUNDS OR OTHER CONSIDERATION
The Reporting Person acquired convertible promissory notes in the
aggregate amount of $184,708.33 (the "Notes") from the Company through
private placement transactions on June 28, 1999 and September 10, 1999.
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. Schneider for the purpose of investment. Mr. Schneider 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;
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;
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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;
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 to 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. Schneider is
deemed to beneficially own 11,475,265 shares of Common Stock of
the Company. Such amount includes 4,941,959 shares of Common
Stock owned by G. Schneider Holdings Co., of which Mr. Schneider
is the General Partner, and 6,533,306 shares of Common Stock
underlying the Notes described in Item 3 above and other
convertible securities. G. Schneider Holdings Co. is a Colorado
limited partnership (the "Partnership"), with its principal place
of business at 4643 South Ulster Street, Ste. 1300, Denver,
Colorado 80237, and its principal business is investment
management. Mr. Schneider's beneficial ownership represents
37.86% of the issued and outstanding Common Stock of the Company.
b. Mr. Schneider, as the General Partner of the Partnership, shares
the power to vote and dispose of all 4,941,959 shares of Common
Stock with the Partnership. He also has the sole power to vote
and dispose of 6,533,306 shares of Common Stock beneficially
owned by him.
c. On September 10, 1999, the reporting person acquired a
convertible promissory note which is immediately convertible into
shares of the Company's Common Stock at the rate of $.05 per
share at the election of the holder.
d. Additional members of the Partnership may receive dividends or
proceeds from a portion of the Common Stock which is the subject
of this Schedule. Such individuals include immediate members of
Mr. Schneider's family.
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.
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ITEM 7: MATERIAL TO BE FILED AS EXHIBITS
There is no material required to be filed as exhibits to this
Schedule.
SIGNATURE
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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/ Gene W. Schneider Date: October 11, 1999
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Gene W. Schneider
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