FORM 4
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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
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Wetzler Gerald M.
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(Last) (First) (Middle)
300 Park Avenue, 17th Floor
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(Street)
New York New York 10022
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
American Film Technologies, Inc.
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3. IRS or Social Security Number
of Reporting Person (Voluntary)
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4. Statement for Month/Year | 5. If Amendment, Date of
| Original (Month/Year)
January 1997 |
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ X ] Director [ X ] 10% Owner
[ X ] Officer [ ] Other (specify below)
(give title below)
Chairman and Chief Executive Officer
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7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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<PAGE>
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TABLE I - Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
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1. Title of Security | 2. Transaction Date | 3. Transaction Code | 4. Security Acquired (A) or Disposed
(Instr. 3) | (Month/Day/Year) | (Instr. 8) | of (D) (Instr. 3, 4 and 5)
| | |
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| | Code | V | Amount | (A) or| Price
| | | | | (D) |
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Common Stock | 1/2/97 | S | | 40,000 | D | $0.35
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Common Stock | 1/3/97 | S | | 60,000 | D | $0.35
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Common Stock | 1/6/97 | S | | 5,000 | D | $0.34
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Common Stock | 1/6/97 | S | | 5,000 | D | $0.35
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Common Stock | 1/8/97 | S | | 30,000 | D | $0.35
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Common Stock | 1/8/97 | S | | 30,000 | D | $0.34
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Common Stock | 1/9/97 | S | | 50,000 | D | $0.33
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Common Stock | 1/9/97 | S | | 20,000 | D | $0.34
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Common Stock | 1/10/97 | S | | 5,000 | D | $0.33
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Common Stock | 1/13/97 | S | | 20,000 | D | $0.31
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Common Stock | 1/13/97 | S | | 10,000 | D | $0.30
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</TABLE>
<PAGE>
FORM 4 (continued)
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
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1. Title of Security | 5. Amount of Securities | 6. Ownership Form: | 7. Nature of Indirect Beneficial
(Instr. 3) | Beneficially Owned at | Direct (D) or | Ownership (Instr. 4)
| End of Month | Indirect (I) |
| (Instr. 3 & 4) | (Instr. 4) |
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| | D |
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| | D |
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| | D |
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| | D |
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| | D |
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| | D |
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| | D |
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| | D |
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| | D |
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| | D |
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| 10,193,000 | D |
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one reporting person,
see Instruction 4(b)(v). (Over)
SEC 1474 (3/91)
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TABLE II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
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1. Title of Derivative Security | 2. Conversion or | 3. Transaction Date | 4. Transaction | 5. Number of Derivative
(Instr. 3) | Exercise Price of | (Month/Day/Year) | Code (Instr.| Securities Acquired
| Derivative Security | | 8) | (A) or Disposed of
| | | | (D) (Instr. 3, 4 & 5)
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| | | Code | V | (A) | (D)
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Employee Stock Option | $0.07 | 1/3/97 | A | V | A |
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</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security | 6. Date Exercisable and | 7. Title and Amount of Underlying | 8. Price of Derivative
(Instr. 3) | Expiration Date | Securities (Instr. 3 & 4) | Security (Instr. 5)
| (Month/Day/Year) | |
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| Date | Expiration | Title | Amount or Number |
| Exercisable | Date | | of Shares |
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| 1/3/97 | 1/3/2000 | Common Stock | 10,000,000 | $200,000
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</TABLE>
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security | 9. Number of Derivative | 10. Ownership Form of Derivative | 11. Nature of Indirect
(Instr. 3) | Securities Beneficially | Security: Direct (D) or | Beneficial Ownership
| Owned at End of Month | Indirect (I) (Instr. 4) | (Instr. 4)
| (Instr. 4) | |
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| 40,000,000* | D |
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</TABLE>
Explanation of Responses:
* This calculation takes into account Mr. Wetzler's existing option to purchase
Ten Million (10,000,000) shares of authorized but unissued preferred stock,
which option shall automatically convert to an option to purchase Twenty
Million (20,000,000) shares of common stock upon the authorization of
additional shares of common stock at the Company's 1996 Annual Meeting of
Stockholders, to be held on February 26, 1997.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ Gerald M. Wetzler 1/31/97
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**Signature of Reporting Person Date
