SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)
--------------------
Advanced Photonix, Inc.
-----------------------------------------------------
(Name of Issuer)
Class A Common Stock, $.001 par value
--------------------------------------------------------
(Title of Class of Securities)
00754E107
----------------------------------------------------------
(CUSIP Number)
Nadine Shaoul, D.H. Blair Investment Banking Corp.
44 Wall Street, New York, NY 10005 (212) 495-4163
------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 1, 1996
-------------------------------------------------------------
(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, and is filing
this schedule because of Rule 13d-1(b) (3) or (4), check the following box [ ].
Check the following box if a fee is being paid with this statement [ ].(A fee
is not required only if the reporting person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
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 the
disclosures provided in a prior cover page.
The information required in 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).
Page 1 of 6 pages
<PAGE>
CUSIP No. 00754E107 13D Page 2 of 6 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
J. Morton Davis
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 Source of Funds
See Item #3 herein.
- -------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 951,100
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 38,285
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 951,100
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
38,285
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
989,385
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 00754E107 13D Page 3 of 6 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D.H. Blair Holdings, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 Source of Funds
See Item #3 herein.
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is required pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 00754E107 13D Page 4 of 6 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D.H. Blair Investment Banking Corp.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 Source of Funds
See Item #3 herein.
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is required pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 951,100
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
951,100
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
951,100
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
BD
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Page 5 of 6 Pages
J. Morton Davis, D.H. Blair Holdings, Inc. ("Blair Holdings"),
and D.H. Blair Investment Banking Corp. ("Blair Investment"),
(collectively, the "Reporting Parties") hereby amend the following
Items in their statement on Schedule 13D relating to the Class A
Common Stock, $.001 par value ("shares") of Advanced Photonix, Inc.
(the "Issuer") as follows (in the future, the Reporting Parties may
elect to file a Schedule 13G pursuant to Rule 13d-1(b)):
Item 2. (c) is hereby amended in its entirety as follows:
Mr. Davis is an investment banker and sole shareholder of Blair
Investment, a broker-dealer registered under the Securities Exchange
Act of 1934. Prior to May 1, 1996, Blair Holdings was solely owned by
Mr. Davis, and Blair Investment was a wholly-owned subsidiary of Blair
Holdings. As of May 1, 1996, Blair Holdings merged into Blair
Investment, with Blair Investment being the surviving corporation.
Item 3. is hereby amended by adding the following new paragraph thereto:
Since the previously filed Schedule 13D, Amendment No. 2, dated
July 22, 1993, Blair Investment used its general funds to effect
the exercise of 93,049 warrants at a total exercise price of
approximately $152,600.00, and Parliament Hill Corporation (4) used
its general funds to effect the exercise of 1,301 warrants for a
total purchase price of approximately $2,133.00.
Item 4. is hereby partially amended by deleting the first sentence and
substituting the following sentence therein:
This Amendment is filed to report that Blair Holdings has
ceased to be a beneficial owner of more than five percent of the
Issuer's securities as a result of its merger into its subsidiary,
Blair Investment.
Item 5. (a) is hereby amended in its entirety as follows:
As of May 1, 1996, Mr. Davis may be deemed to beneficially own
989,385 shares or 8.9% of the Issuer's shares issued and
outstanding as follows: (i) 617,760 shares owned by Blair
Investment, (ii) 333,340 shares underlying a Unit Purchase Option
to purchase up to 5.0 Units (3) at a price of $100,000 per Unit
exercisable through July 15, 1997, and (iii) 38,285 shares owned by
Parliament Hill Corporation.
As of May 1, 1996, Blair Investment may be deemed to beneficially
own 951,100 shares or 8.6% of the Issuer's shares, as indicated
in (i) and (ii) above, and Blair Holdings is no longer a beneficial
owner of any of the Issuer's shares.
Item 5. (b) is hereby amended in its entirety as follows:
Mr. Davis has sole power to vote or to direct the vote, to dispose
or to direct the disposition of those shares owned by Blair
Investment. The Board of Directors of PHC, of which Mr. Davis is a
director and Chairman, have the power to vote or to direct the vote,
to dispose or to direct the disposition of those shares owned
by Parliament Hill Corporation.
Item 5. (c) is hereby amended by adding the following paragraphs:
On April 30, 1996, Blair Investment sold 215,910 shares at $3.1875
per share in an open-market transaction.
As of May 1, 1996, Blair Holdings was merged into its
subsidiary, Blair Investment, and is no longer in existence.
No other transactions were made by any of the Reporting Parties in
the previous sixty days in the Issuer's securities.
Item 5. (e) is hereby amended by adding the following paragraph thereto:
On May 1, 1996, Blair Holdings ceased to be a beneficial owner of
more than five percent of the Issuer's securities.
____________________________________________________________________________
(3) Each Unit consists of 33,334 shares and 33,334 Class A Warrants; each
Class A Warrant entitles the holder thereof to purchase one share at $3.00
per share.
(4) Parliament Hill Corporation is a private corporation of which Rosalind
Davidowitz beneficially owns approximately 72.6% and Blair Investment
beneficially owns approximately 13.4%.
<PAGE>
Page 6 of 6 pages
Item 6. is hereby amended by adding the following paragraph:
Prior to the filing of this Schedule 13D, Amendment No. 3, the
Option and Proxy given to Bernhardt Denmark as described in the first
paragraph of this item has expired. Mr. Denmark no longer has the
power to vote any shares owned by the Reporting Parties.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, we
certify that the information set forth in this statement is true, complete
and correct.
/s/ J. Morton Davis
Date: May 6, 1996 _____________________________
New York, New York J. Morton Davis
D.H. BLAIR HOLDINGS, INC.
/s/ David Nachamie
Date: May 6, 1996 by_____________________________
New York, New York David Nachamie
Treasurer
D.H. BLAIR INVESTMENT BANKING CORP.
/s/ David Nachamie
Date: May 6, 1996 by_____________________________
New York, New York David Nachamie
Treasurer
