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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
Information Statement Pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. 2)
CPI Aerostructures, Inc.
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(Name of Issuer)
Common Shares. $.001 par value
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(Title of Class of Securities)
125919 10 0
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(CUSIP Number)
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Page 1 of 5 pages
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SCHEDULE 13G
CUSIP No. 125919 10 0 Page 2 of 5
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Arthur August
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3) SEC USE ONLY
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4) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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5) SOLE VOTING POWER
1,060,000 Common Shares
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NUMBER 6) SHARED VOTING POWER
OF SHARES None
BENEFICIALLY ------------------------------------------------------------
OWNED BY 7) SOLE DISPOSITIVE POWER
EACH 1,060,000 Common Shares
REPORTING ------------------------------------------------------------
PERSON WITH 8) SHARED DISPOSITIVE POWER
None
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9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,060,000 (See item 4).
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10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [ ]
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11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
17.7%
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13) TYPE OF REPORTING PERSON
IN
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Page 3 of 5
Item 1(a). Name of Issuer:
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CPI Aerostructures, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
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200A Executive Drive
Edgewood, New York 11717
Item 2(a). Name of Person Filing:
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Arthur August
Item 2(b). Address of Principal Business Office or, if None, Residence:
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200A Executive Drive
Edgewood, New York 11717
Item 2(c). Citizenship:
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USA.
Item 2(d). Title of Class of Securities:
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Common Shares, par value $.001 per share (the "Shares").
Item 2(e). CUSIP Number: 125919 10 0
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Item 3. If this statement is filed pursuant to Rules 13d-1(b) or
13d-2(b), check whether the person filing is a:
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Inapplicable.
Item 4. Ownership:
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(a) 1,060,000 Shares including 100,000 Shares issuable upon the
exercise of currently exercisable options.
(b) This figure represents 17.7% of the outstanding Shares of
the Issuer.
(c) Number of Shares as to which such person has:
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Page 4 of 5
(i) Sole power to vote or to direct the vote: 960,000
Shares and 100,000 Shares issuable upon the exercise
of currently exercisable options held by reporting
person.
(ii) Shared power to vote or to direct the vote: None
(iii) Sole power to dispose or to direct the disposition of
960,000 Shares and 100,000 Shares issuable upon the
exercise of currently exercisable options held by
reporting person.
(iv) Shared power to dispose or to direct the disposition
of: None
Item 5. Ownership of Five Percent or Less of a Class:
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Inapplicable.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
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Inapplicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company:
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Inapplicable.
Item 8. Identification and Classification of Members of the Group:
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Inapplicable.
Item 9. Notice of Dissolution of Group:
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Inapplicable.
Item 10. Certification:
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Inapplicable.
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Page 5 of 5
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 13, 1997
/s/ Arthur August
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Arthur August
Chairman of the Board,
Chief Executive Officer
and President
