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. 10) *
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)
03/16/00
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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
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: 8,768,233
8 Shared Voting Power: 4,941,959
9 Sole Dispositive Power: 8,768,233
10 Shared Dispositive Power: 4,941,959
11 Aggregate Amount Beneficially Owned by Each Reporting Person: 13,710,192
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares *
13 Percent of Class Represented by Amount in Row (11): 42.13%
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
amount of $40,478 and $150,000 (the "Notes") from the Company through
private placement transactions on March 16 and March 20, 2000,
respectively. Such Notes are immediately convertible into shares of
the Company's Common Stock at the rate of $.30 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 13,710,192 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 8,768,233 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
42.13% 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 8,768,233 shares of Common Stock beneficially
owned by him.
c. On March 16 and March 20, 2000, the reporting person acquired
convertible promissory notes which are immediately convertible
into shares of the Company's Common Stock at the rate of $.30 per
share at the election of the holder. The notes were acquired in a
private transaction from the Company.
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
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: May 1, 2000
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Gene W. Schneider
