<PAGE> 1
FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
[ ] Check this box if no longer OMB APPROVAL
subject to Section 16. Form 4 OMB Number: 3235-0287
or Form 5 obligations may Expires: April 30, 1997
continue. See Instruction 1(b). Estimated average burden
hours per response 0.5
<TABLE>
<S> <C> <C> <C>
1. Name and Address of Reporting 2. Issuer Name and Ticker 6. Relationship of Reporting Person to Issuer
Person or Trading Symbol (Check all applicable)
Wetzler Gerald M. American Film Technologies, X Director X 10% Owner
Inc. (AFTI) ----- -----
(Last) (First) (Middle) X Officer (give Other (specify
----- title ----- below)
below)
300 Park Avenue, 17th Floor 3. IRS or Social 4. Statement for
(Street) Security Number Month/Year June 1996
of Reporting Chairman and Chief
New York New York 10022 Person (Voluntary) 5. If Amendment, Executive Officer
(City) (State) (Zip) Date of Original
(Month/Year)
</TABLE>
TABLE I -- NON-DERIVATIVE SECURITIES Acquired, Disposed of,
or Beneficially owned
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
5. Amount of
3. Trans- 4. Securities Acquired (A) Securities 6. Ownership 7. Nature of
2. Trans- action or Disposed of (D) Beneficially Form: In-direct
action Code (Instr. 3, 4, and 5) Owned at Direct (D) Bene-
Date ----- --------------------- End of or Indirect ficial
1. Title of Security (A) or Month (I) Ownership
(Instr. 3) (Month/ Code V Amount (D) Price (Instr. 3 and 4) (Instr. 4) (Instr. 4)
Day/Year)
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Common Stock 6/18/96 S 700,000 D $0.05 D
Common Stock 6/18/96 S 300,000 D $0.05 D
Common Stock 6/18/96 S 500,000 D $0.05 11,623,000 D
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Over)
(Print or Type Responses) SEC 1474 (8-92)
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FORM 4 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED,
DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------
4. Trans 5. Number of Derivative
2. Conversion action Securities Acquired 6. Date Exercisable and Expir-
or Exercise 3. Transaction Code (A) or Disposed of (D) ation Date (Month/Day/Year)
Price of (Instr. 8) (Instr. 3, 4, and 5) ---------------------------
1. Title of Derivative Derivative (Month/Day/ ---------- -------------------- Date Expiration
Security (Instr. 3) Security Year) Code V (A) (D) Exercisable Date
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Stock Option $0.12(1) 6/17/96 P 20,000,000. (1) 6/17/96 --
(Right to Buy)
</TABLE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------
7. Title and Amount of
Underlying 9. Number of 10. Ownership
Securities Derivative Form of
(Instr. 3 and 4) Securities Derivative 11. Nature
---------------- 8. Price of Beneficially Security: of Indirect
Amount or Derivative Owned at End Direct (D) or Beneficial
Number of Security of Month Indirect (I) Ownership
Title Shares (Instr. 5) (Instr. 4) (Instr. 4) (Instr. 4)
- --------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Common 20,000,000 $.01 20,000,000 D
Stock (1)
</TABLE>
Explanation of Responses: (1) If AFTI, at the time of exercises, lacks
sufficient shares of common stock authorized for exercise of the option, Mr.
Wetzler shall have the right to purchase 10,000,000 shares of AFTI's authorized
but unissued preferred stock at an exercise price of $0.24 per share. Each
share of preferred stock will be converted automatically into two shares of
common stock as sufficient shares of stock exist for such conversion.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
- ------------------------------- ----------------
**Gerald M. Wetzler Date
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SEC 1474 (8-92)
